Finding and selecting a Bulgarian real estate agent

The agents that do the nitty-gritty work are those based in Bulgaria. They source and process the deals. Most estate agents in Bulgaria will be Bulgarian-registered companies owned and managed by either local or foreign nationals.
There are some British-owned and -managed companies in the UK offering properties in Bulgaria, but these are normally working in partnership with a Bulgarian agent who does the day-to-day work. Some of the British agents might have direct links with developers and not use local agents.

Bulgarian Real Estate Agents

The choice of estate agent is critical. The agent will be your main guide through the process from start to finish. In addition, different estate agents will have different properties on their books, and you will want to know that your agent has a good selection of local properties. A good selection should include competitively priced, good-quality houses, and in a range of locations, for living, investing orturning into a business.

The Bulgarian Building Boom

Off-plan or Off Your Trolley?

A British sales agent on the Black Sea coast during the summer seasons of 2002-2006 gives his opinion.
‘It all seems so attractive – instead of slogging around the Bulgarian countryside searching for the elusive perfect house, setting up your company, finding lawyers, builders and accountants, why not invest in a brand-new apartment by the sea, in Sunny Beach or Sveti Vlas, reserved over the Internet for only a 10 percent deposit

Deciding How You Plan to Use the Property

It is worth thinking about how you will use the property and assessing your purchase against certain criteria for now and the future.

Buying a property in Bulgaria as a Place to Settle or Retire

Your plan to settle in Bulgaria may be for a lifestyle change, or for retirement, or a combination. But a place that is good for holidays might not be the best place to retire or settle. For example, some holiday resorts may be great for two weeks in the summer but empty and unattractive in the off-season. Similarly, new developments can be nice for holidays but if the other residents are holiday-home owners then many homes in the development may be vacant for large parts of the year. If the development is small and well planned into an existing community or town, this may be not a problem. But if it is large and isolated from other homes it may feel a bit unwelcoming at sometimes of year.

Which Type of Bulgarian Property to buy

Just as the region or location is important, so too is choosing the right type of property. There are no hard and fast rules. Once again common sense with some forethought should be sufficient, but in the end you will make the choice based on personal preference.

Apartment or Villa?

When thinking of somewhere to live in Bulgaria, many people imagine a house and a garden – sometimes it’s the idea of a renovation project, or space for a pool and maybe growing tomatoes and or creating a space for entertaining and relaxing. But do not underestimate the convenience of having an apartment in town.

Examples of Property Prices in Bulgaria

Some examples of what you might find in different price brackets are given below. Be aware that lower-priced property can cost more than the actual Purchase price to make it habitable. Some will be in poor condition, some without running water, most without inside toilets – though the location may °e stunning and many buy for a renovation project. €7,500

General Overview of the Housing Market in Bulgaria

Bulgaria is still cheap compared with western Europe – especially average prices – though in certain hotspots prices are starting to approach those of other places in central Europe. You can still find many bargains and old houses in need of complete renovation for under €15,000 (£10,000), but you will need to spend more than this again to renovate them for living or letting.

Driving around Bulgaria

Most people travelling in Bulgaria arrange for transport in advance to the region or city where they intend to look for property. If you are dealing with an agent in Bulgaria, ask them to arrange an airport pick-up to take you directly to the city where you will be based-this solves a lot of the hassle of getting from the airport into town and finding your way around. For first-time visitors it’s best to get the airport pick-up to take you directly to where you are staying. Once you’ve set up a base camp, then you might consider hiring a car locally for the duration of your stay.