Buy investment property in Banya near Bansko Bulgaria
Buying a Property in Bulgaria

Buying a Property in Bulgaria

Buying property in Bulgaria is a trend that has caught the world with sudden swiftness. One of the reasons is property prices in Bulgaria have risen by more than 25%. This phenomenal growth of the property market is improved monetary conditions and the political and social stability following formal admission to the European community. The other factor for the growing property market is the enormous tourism potential that Bulgaria has, Bulgaria is gifted with many well preserved natural attractions and a limited amount of urbanization.

Bulgaria, located in Southeast Europe, occupies the eastern part of the Balkan Peninsula. The climate is temperate continental with four defined seasons. The capital city of Bulgaria is Sofia and currently, Bulgaria is regarded as a young but rapidly growing tourist market in Europe. All of which makes Bulgaria a tremendous investment opportunity for people looking buy property to be used for rental income.

Bulgaria is a wonderful destination for foreigners investing in property. Bulgaria became a member of NATO in 2004 and a full European Community member in 2008. Bulgaria is politically stable and as a result, investing in property in Bulgaria appears safe. However, be wary of the somewhat exaggerated claims made by estate agents. Promises of double profit should be taken with a large pinch of salt even if they have been achieved in the past. A few blatantly dishonest agents may even rush a final decision by saying properties are in short supply, and will sell out soon. Some promise unrealistic gains - the gains are there but this is no short term get rich quick investment!. When property dealing looks too good to be true exercise caution rather than risk loosing a large sum of money.

There are laws and rules for foreigners buying property in Bulgaria. Currently only Bulgarian resident individuals or companies are allowed to own land in the country. Non-residents can acquire buildings only. For that reason foreigners wishing to invest in property have to register a Bulgarian based company that is allowed to hold the building. As soon as the company is registered, property may be purchased in the company’s name.

When it comes to buying property, Bulgaria has a lot to offer investors, and for the wise investor who does some homework before buying there is money to be made.

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