bulgaria
your guide to property in Bulgaria
Bulgarian Flag
Bulgaria Property News
Houses in the old town of Sozopol near the Black Sea coast in Bulgaria (photo Ansgar Prause)

BULGARIA FACT FILE



Buy Euromap's Bulgaria Map with town plans
for £4.79 and save 20%

Background
Bulgaria is roughly the same size as England, but is home to only eight million people. A tenth of the population live in the capital Sofia.

Bulgaria borders Greece, Macedonia, Romania, Serbia and Montenegro, Turkey and the Black Sea.

Bulgaria joined NATO in 2004 and is hoping to gain admission to the EEC in 2007.
 

The currency of Bulgaria is the Lev. It is fixed against the Euro at a rate of €1 = 1.96 Lev. Visa and Mastercards are widely accepted in tourist resorts and can be used in cash machines, but commission rates of 5-6% are common.

The international telephone dialing code for Bulgaria is +359. The national telephone system is extensive, if dated. Check with your mobile phone operator regarding coverage if taking your mobile phone to Bulgaria.

The country is very mountainous with lowlands in the north and south east.

Climate
For much of Bulgaria, the summer months are warm and occasionally very hot, while winters are fairly cold. Rainfall is moderate and well distributed throughout the year. Snow is common in winter and sometimes into spring.

Along the Black Sea coast, the winters are slightly warmer, but spells of bitterly cold weather can occur. The average January temperature ranges between -1°C and 6°C and the July temperature ranges between 19°C and 30°C.

Getting There
Direct flights to the capital Sofia operate throughout the year from the UK, but direct flights to Varna and Burgas on the Black Sea coast only operate during the tourist season.

UK passport holders do not need a visa to visit to Bulgaria for a period of up to 30 days within a six month period. A visa is required if you intend to stay longer or visit more frequently. Property ownership does not entitle you to live permanently in Bulgaria.

Living There
Bulgaria was a communist country until 1990, and the move to a fully fledged democracy has not been without its problems. Today Bulgaria remains a poor country by Western European standards with high levels of poverty, unemployment and inflation and poor standards in health and education. Rural areas are often worse affected.

Buying Property
Property and land prices in Bulgaria are low compared to the rest of Europe - hence the stories of people buying a house for the price of a car in the UK. Older properties often require a lot of work to bring them up to UK standards however. Renovation and even structural repairs may be required.

Mortgages were until very recently unheard of in Bulgaria - under communism, every family was given a home.

Just as taxi drivers often charge foreigners more than they would Bulgarian passengers, property sellers often expect to get more from a UK buyer than they would ask of a Bulgarian.

Under Bulgarian law, foreigners cannot own land in the country, but may own property. Amendments to the law are curently being passed by the Bulgarian Parliament and it is likely that EU citizens will be able to own land from 2014.

When buying an apartment the current law presents no problems because you won't own the land, but when buying a house or a villa it is common practice to first form a Limited Liability Company (OOD) and then buy the property through the company.

Estate agents charge buyers a commission of anything from 3% to 10% of the purchase price and because prices can be low a minimum commission level is often set. Some agents charge for arranging viewings (refundable if you actually purchase). Don't be too polite to ask commission rates before arranging viewings and if they seem high for the service provided, negotiate or go elsewhere.

Standards of service from estate agents before and after purchase vary from excellent to appalling. As always it is essential that you seek independent legal advise before committing to buy property.


Above: Rila Monastery, Bulgaria

Embassies
Embassies:
Embassy of the Republic of Bulgaria, 186-188 Queens Gate, London SW7 5HL (020 7584 9400/9433).
British Embassy, 9 Moskovska Street, Sofia 1000 (359 2 980 1220).



Bulgaria's Black Sea coast has been described as what the Mediterannean was like 30 years ago. And the ski resorts of Borovets, Pamporovo and Bansko are becoming increasingly popular winter destinations too. But what really sells Bulgaria to those looking to buy a home abroad is price. £40,000 will get you a two bedroom apartment with sea views near Varna. And prices are even lower in rural Bulgaria away from the coast and the capital Sofia.

British Millonaire Buys Entire Village In Bulgaria
Tuesday June 13th 2006 , 11:55 am

A British millionaire is reported to have bought an entire village with a population of 1,000 people close to the town of Varna in Bulgaria. 31 year old Scott Alexander from


Spain And France Losing Favour As Overseas Property Buyers Look To Emerging Markets
Tuesday February 21st 2006 , 10:33 am

Traditional overseas property hotspots like Spain and France are losing out to emerging markets according to the monthly Global Property Hot Spots report published by currency traders, HIFX. Historically, the three


Spain Tops Poll In Barclay’s Overseas Property Survey
Thursday February 16th 2006 , 7:43 pm

Spain has come top of a Barclay's Bank survey asking where people would buy property abroad if they were guaranteed a trouble free purchase. Of the 1001 people surveyed, 37%


European Union Discusses Membership For Bulgaria, Romania and Turkey
Friday September 02nd 2005 , 2:57 pm

European Union foreign ministers meeting in Wales this week are discussing extending membership to countries including Bulgaria and Turkey where increasing numbers of British house buyers have been buying property.


Bulgaria’s Black Sea Property Market Slows Down
Tuesday June 21st 2005 , 12:26 pm

The Bulgaria's Northern Black Sea coast property market is showing signs of a slow down according to the Sofia News Agency. The number of executed property deals over the


No Votes Cast Shadow Over European Union Enlargement
Tuesday June 07th 2005 , 6:33 pm

The votes against the European Union Constitution in both France and Holland places the EEC in "a period of difficulty" according to Foreign Minister, Jack Straw, and that could spell


Bulgaria Would Still Join European Union If EU Constitution Voted Down
Thursday May 19th 2005 , 8:49 am

Good news for Bulgarian property buyers. Bulgaria along with Romania would both join the European Union even if the new EU Constitution is not ratified by all member states. For


Invest In Property Show Returns To Earls Court
Tuesday April 05th 2005 , 1:24 pm

  The Invest In Property Show returns to Earls Court from the 22nd to the 24th of April this year and will give those interested in buying property abroad access to


Is Making Money Out Of Bulgarian Property Any Different To Florida, Spain or France?
Sunday March 27th 2005 , 10:31 am

In yesterday's Telegraph, Rosie Murray-West makes the point that Bulgaria's ski resorts, its Black Sea coast and its "verdant valleys" - nice though they are - are not the


Bulgarian Property Buyers Need Level Heads And Good Independent Advice
Wednesday March 23rd 2005 , 2:28 pm

Bulgaria's main attraction is price according to today's Independent which says you can buy a new two bedroom house on the coast near Varna for around £70,000 and a





return to Place In The Sun homepage

Advertise Overseas Property For Sale Here!

Advertise Overseas Property For Sale Here!

Advertise Overseas Property For Sale Here!

Advertise Overseas Property For Sale Here!