Investing in Bulgarian Real Estate

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Currently the real estate market in Bulgaria is dynamic. The demand for residential premises and flats in the cities increases, the intereset towards purchasing flats along the Black Sea coast and in the ski resorts being the strongest. Recently, an increased interest has also been recorded towards new construction of flats, particularly along the Black Sea coast - Sunny Beach, Sozopol, Primorsko. Such sites are even sold in the initial stage of construction. There is a demand for houses, villas and rural properties, mainly in the inhabited areas by the sea. In some of the areas that are farther away from the large centres, relatively cheap premises are on offer. Real property in Bulgaria is purchased not only as an investment, but for season use as well. Lately, there have been a large number of foreigners, mainly Russians, who wish to purchase real property in Bulgaria in order to permanently reside in the country. The economic situation in the country is getting more and more stable and the next several months will be the best time to purchase real property in Bulgaria before prices start rising again. When Bulgaria is accepted into the Schengen area in April 2011, the interest on the part of foreign investors towards the country will get even stronger, and this will become a prerequisite for the increase of prices of real property in Bulgaria.