Property In Bulgaria

Property in Bulgaria has caused so much activity amongst all involved in the overseas property industry that you can easily get dizzy from the amount of information and property available in the region. One thing is for sure Bulgaria as an emerging market that is set to change the former member of the Soviet Union forever

Bulgarian facts

Bulgaria officially the Republic of Bulgaria is a country in Southeastern Europe, It borders the Black Sea to the east, Greece and Turkey to the south, Serbia and the Republic of Macedonia to the west, and Romania to the north, mostly along the Danube.

Modern Bulgaria

Bulgaria opened its doors to tourism and foreign investment the early 1990s. Bulgaria’s 8 million inhabitants live in an area as large as England and enjoy an attractive mix of landscapes which have made Bulgaria such a popular holiday destination. Its sunny Black sea coast attracts holiday makers in the summer. Its Ski resorts in Bansko, Barovets and mount Vitosha make it an affordable place to ski in the winter. The quiet Bulgarian villages, historic buildings and cosmopolitan cities make it ideal place to visit all year round. Investors tip the Capital Sofia as a sound place to invcest in property abroad.

veliko tarnovo bulgaria
Property in Sofia Bulgaria

Sofia is getting richer and is definitely on its way up both business and tourism help make the city an attractive place to invest. Businesses are setting up in Sofia and evidence around the city is clear with impressive modern buildings, multi national company offices, BMW and Porsche dealerships to name but a few. Tourists visit the city all year round, helped by low cost airlines flying into Sofia Airport. The impressive architecture makes Sofia a good place to wander around; churches such as the Aleksander Nevski Memorial Church will always attract those looking for a relaxing city break. Property investors buying property in Sofia do not need to rely on seasonal tenants to fill their investment properties. The combination of local and foreign employees and visitors to Sofia make the city an attractive place to invest.

Buying property in Bulgaria the process

Buying property in Bulgaria means in most cases that overseas property buyers will need to set up a limited company. The exception to this is when a buyer purchases a leasehold property such as an apartment. In this case you do not own the land and therefore foreign buyers can buy Bulgarian property without the need to set up a Bulgarian registered company. Entry to the EU in 2007 will hopefully see these rules change.

Submitted by: Nicholas Marr

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