Small, but picturesque and beautiful, with mountains and sea, Bulgaria is a great place for investment with its fast growing economy and strategic location in the Balkans.
And one of the best investments if you have the means remains real estate. Whether you decide to invest a smaller or larger amount of money, real estate is a long-term investment that will preserve your savings despite inflation.
Here’s where to invest in Bulgaria:
Sofia:
As the capital of the country, Sofia has a more stable and developed real estate market. It attracts both local and foreign investors due to its economic opportunities, cultural attractions and infrastructure. Properties in the city continue to rise, despite forecasts, and are considered to be a good investment, as they do not show a long-term decline, only an increase in prices. Also, prices are predicted to go up further due to the future introduction of the euro in the country.
Ski resorts:
Bulgaria is known for its ski resorts such as Bansko, Borovets and Pamporovo. These areas are in high demand during the winter season from both tourists and people looking for vacation rental properties. You can still find studios in large hotels that you can buy at a good price and the hotel actually manages, cleans and rents them out.
Sea Towns:
The Bulgarian Black Sea coast is popular not only for Bulgarians but also for foreigners, even from Scandinavia. Cities like Varna, Burgas and Sunny Beach have attracted attention for real estate investments, especially for holiday apartments and rental properties. Burgas has developed tremendously in recent years as a pleasant city to live in, in addition to being a resort, and it is expected that in the coming years housing there will grow upwards. Varna and Sunny Beach vice versa – there seems to be a stagnation and oversaturation of the market there.
Cities with universities:
Cities with universities such as Plovdiv and Blagoevgrad may be interesting for investments in student dormitories or Airbnb or rental apartments. Prices in Plovdiv are almost the same as in Sofia, given that the city was the cultural capital of Europe a few years ago – foreigners love the city for its historical and cultural attractions, and Kapana has become a cultural and art hub for many Bulgarians and foreigners – with its small galleries and quaint, tasty restaurants.
Village Properties:
Some investors are looking at rural areas and villages for eco-tourism, vacation rentals or even retirement homes. These properties can offer a more relaxed lifestyle and the potential for growth over time. We already have great examples of Bulgarians who have lived abroad or foreigners who take an old house, turn it into a hotel or restaurant and make a successful business in a less developed rural region. A good example of this is a restaurant owned by a Bulgarian who worked in Michelin-starred restaurants abroad and created the restaurant “Ona”, near the Belogradchik cliffs, which last year became famous for receiving an inquiry from the team of Ylan Musk for dinner there. So, keep an eye out for areas that are developing and improving their infrastructure/ Investing early in such areas can lead to substantial returns in the future.
Tourist areas:
Places of historical significance, natural beauty or cultural attractions can draw tourists throughout the year. Investing in properties near these attractions can provide a steady stream of tenants seasonally or year-round.
Industrial Areas:
If you’re interested industrial real estate, consider areas with growing industrial zones. These areas may have demand for warehouses, manufacturing buildings and logistics centers. Often, there are such facilities near major cities that are not in use and can be much more profitable for you than in the city itself.
When choosing real estate for investment in Bulgaria it is important to consider the following aspects:
Local Regulations.
Understand the local requirements and regulations for buying property as a foreign investor.
Market Trends.
Analyze current and historical real estate market trends to make informed choices.
Infrastructure:
Access to transportation, amenities and services can seriously affect the price of a property, as well as someone’s willingness to go there.
Search for Rentals:
If you are planning to rent out the property, research the demand for rentals in your chosen area.
Economic Outlook:
Consider the general economic stability and outlook of the region.
Exchange Rates:
Be careful of exchange rates if you are not using the local currency for your investment.
It is important to collaborate with local real estate professionals, legal advisors and financial experts to ensure that your investment meets your objectives and current market conditions.