Can a foreigner buy a house in Bulgaria?

According to Bulgarian law, foreign citizens of EU countries or the European Economic Area (EEA) have the right to buy property in the country, including land. This also means that foreigners can invest in property in Bulgaria – either through a local legal entity or personally.

What are the pitfalls of buying property in Bulgaria?

The most common mistakes made when buying a property in Bulgaria can be summarized as: Paying a deposit to reserve a property. The seller insists that a lower price is put on the title deed (tax evasion). Feeling that you are the weak party when you are the market maker.

Is Bulgaria good for real estate?

Let us give you some insights about Bulgaria and the properties here: Bulgaria has proved to be a preferred destination for many international buyers. It offers the best property prices in Europe and a variety to choose from – beach and ski resorts, vibrant cities and beautiful countryside for holiday or relocation.

Is real estate cheap in Bulgaria?

Average property prices in Bulgaria That being said, Bulgaria is a lot cheaper than many other European countries when it comes to property prices.

Why are properties so cheap in Bulgaria?

Reasons why in Bulgaria cheap property, a few: The consequences of the 2008 crisis and the sharp drop in demand, causing prices have fallen by 40%. Lower purchasing power of the population compared to an average level. The socialist heritage of the country.

How much does an average house cost in Bulgaria?

These tranquil and beautiful locations together with the area of Stara Zagora in Central South Bulgaria still offer properties for the average price of around 10,000 Euros (7 000 GBP; 13 300 USD).

Why are Bulgarian houses so cheap?

Where is the best place to buy property Bulgaria?

If you are looking for permanent residence, the best choice are the big cities. Such as the capital of Sofia, Burgas, Varna, Plovdiv where life is in full swing throughout the whole year. If you prefer quiet living, you can buy a home in small towns like Nessebar, Pomorie, Sozopol or Aheloy.

Why are homes so cheap in Bulgaria?

Where do most expats live in Bulgaria?

Expats living in Bulgaria often flock to its capital city of Sofia. It is the cheapest city to live in Western Europe, considering rent for a one-bedroom apartment in the city center is less than $400 USD per month and a one-bedroom apartment outside the city center is less than $300 per month.

Is Bulgaria a good country to retire to?

Bulgaria is a beautiful country and an interesting destination if you are a pensioner and are looking for a foreigner friendly country, and the most affordable cost of living country in the European Union.

Why is Bulgaria property so cheap?

How much money do I need to retire in Bulgaria?

The cost breakdown is less than $1,200 per month. $1,156 per month on average. It costs me ~2000 leva per month to live in Sofia. The most expensive city in Bulgaria has affordable living costs on par with renowned “cheap” cities like Medellin or Manila.

Can I retire to Bulgaria?

Who can retire in Bulgaria? Bulgaria allows every retired national to reside in its territory as long as he meets all the legal requirements. Eu-nationals will find the process relatively easy and straightforward. No visa is required for the first 90 days.

Where is the nicest place to live in Bulgaria?

Best cities to live in Bulgaria

  • Varna. If you’re drawn to the Bulgarian coast, Varna is the first city to consider.
  • Veliko Tarnovo. Sofia is the modern-day capital of Bulgaria.
  • Plovdiv. There aren’t many places where you can go to the opera or see a rock band in a Roman amphitheatre!
  • Sofia.
  • Burgas.
  • Bansko.
  • Haskovo.
  • Dobrich.

How much money do you need to live comfortably in Bulgaria?

Monthly total Depending on one’s lifestyle and income, an average person can have a decent experience relying on 650 euros a month, but 700-800 euros will allow you to live more comfortably.

How much is the average house in Bulgaria?

The average price of dwellings in Sofia reached 1,200 euro ($1,388) per square metre in the third quarter, the realtor said in a quarterly property market analysis published last week. The average selling price of apartments rose to 116,750 euro from a 2020 average of 100,260 euro, Bulgarian Properties added.

What is the best place to live in Bulgaria?

Where do Sofia expats live?

There are several areas popular for rentals with the expat community and the first decision you will need to make is whether to live in town or in the suburbs. Popular Sofia suburbs are Boyana, Simeonovo, Dragalevtsi, Kambanite and the villages of Bistritsa and Zheleznitsa.

Is Sofia Bulgaria a good place to live?

Sofia, Bulgaria, is characterized by reasonably priced housing. According to our city rankings, this is a good place to live with high ratings in cost of living, safety and taxation. Sofia is one of the top ten city matches for 2.6% of Teleport users.