Bulgaria property news and articles

In these days of low interest rates, many more people take out a mortgage in order to buy a property abroad. If the property is viewed simply as an investment, a mortgage allows you to increase your benefit from the capital growth of property by leveraging the property investment. If you buy a house for €200,000 and it increases in value by €50,000, it has yielded a 25 per cent return on your investment. If you had only put in €50,000 of your own money and borrowed the other €150,000, then the increase in value represents a return of 100 percent on your investment. As long as the rate of increase in the value of the property is more than the mortgage rate or costs, you have gained.

As mentioned previously, the cost of building works in Bulgaria is higher than people initially expect, and prices are set to increase further. What follows is a breakdown of some of the current costs to carry out works in the VelikoTurnovo region. You will find that in other regions, such as Sofia and along the coast, prices will be higher. These prices have been provided by Best Bulgarian Properties Ltd.

Many people buy property because they want to live abroad. Some wish to escape the stresses of Britain, others to gain further skills abroad and perhaps start a business, and others to retire or take a year or two out. It is remarkable how many foreigners arrive in Bulgaria with one-year contracts and end up staying and buying a home, and often getting married or integrating into the local community.

Bulgaria has gone through a great transition since the end of Communism in 1989, known locally as ‘the Changes’. Since ‘the Changes’, people in the new democratic society have been debating what from the past they should retain, and what they should discard. Many of ‘the Changes’ were conditional for EU accession. They included a move from a state-run economy to one that respects free trade and private enterprise.