Property in Bulgaria

The property market in Bulgaria has been one of the major driving forces in the transformation of the onetime poor communist run state, to a country that boasts to have the highest economic expansion capability in Europe.

There are several reasons for Bulgaria’s property boom, the country offers diverse locations to reside or own a holiday home, from idyllic countryside retreats and ski lodges to beachside apartments and villas on golf courses. Places such as Bansko, Borovets and Sunny Beach have gone from total obscurity to being famous locations throughout the world.

The economic situation within Bulgaria allows properties to be built at a fraction of cost, compared to their European counterparts. Owning a property in the French Alps or on the Spanish Riviera is well out of range for most people wanting to purchase a property overseas. The development of Bulgaria and its property market has turned the situation totally around.

Whilst foreign individuals are not allowed to own land, it is easy to get around this by setting up a Bulgarian limited company. This is a straight forward simple process which a Bulgarian solicitor can do on your behalf. Most property in Bulgaria purchased by foreigners are apartments so there is no need to set up a limited company.

Whatever the future holds for the Bulgarian property market, the country offers a once in a lifetime opportunity to own a property in one of the most beautiful locations in the world, at a fantastic price.