Why You Should Buy a Home in Bulgaria
Introduction
The majority of property markets across the world are still experiencing a general downturn, but, despite some gloomy predictions from most of its major property agencies earlier in the year, Bulgaria is one of the countries to have bucked the trend. Property prices in Bulgaria have actually increased by just over 3.3% year-on-year, and with overall growth of 6% in 2008, Bulgaria was the fastest growing, economically, in the whole of the European Union. Despite the rise in price, Bulgarian property is still available at a fraction of the cost of that in other European locations, and, with no decrease in price anticipated, now is a good time to buy a bargain Bulgarian properties.
Buying Property in Bulgaria
Bulgaria is, of course, situated in southeastern Europe between Romania and Turkey, bordering the Black Sea. The terrain is mostly mountainous, and cold, damp winters, with abundant snowfall make the region ideal for skiing. Indeed, the ski resorts of Bansko, Borovets and Pamporovo feature some of the fastest growing property development markets in the whole of Europe. Hot, dry, summers, with temperatures averaging between 20°C and 35°C along the Black Sea coast make destinations such as Varna equally appealing to holidaymakers and property investors in Bulgaria.
Furthermore, the cost of living in Bulgaria is significantly lower than is some European countries, not only in rural areas but also in the cities. There are, of course, a variety of taxes and fees to pay when you buy a Bulgarian property - depending on the price of the property, and whether you need a property agent, Bulgarian lawyer, translator, etc. - but these, too, are lower than elsewhere in Europe. As a guide to property prices, themselves, the average Bulgarian mortgage loan is for around £30,000 (Euro 35,000), as opposed to £111,000 (Euro 128,000) in the U.K.. This may be one of the reasons why mortgage applications in Bulgaria increased by 20% in April, 2009, when compared with March.
There is a number of companies offering cheap international calls to Bulgaria, often from as little as 1½p or 2p a minute, from landline numbers in the U.K.. To make a call to Bulgaria, you first dial the telephone number of the company concerned - typically an 0844, or 0871, number - wait for a dial tone, and dial the full international number you wish to reach. The call is diverted across the Internet, rather than using the BT international telephone network, and is therefore available at a fraction of the cost. For more information please see here:
http://www.dialtosave.co.uk/international/
For our extended list of Bulgarian properties please see here.
To visit us - please see our Viewing trip to Bulgaria
To talk to one of sales advisors - please contact us.
