However, the most popular purchases we are currently seeing is Apartments and Flats (without land), especially off-plan properties where buyers are locking into current purchase prices.
The law on foreign ownership of land is expected to change in the coming years.
Finding The Perfect Home
Bulgaria has beautiful buildings and amazing cities, and it can be difficult to choose which city you would like to live in. Fortunately for foreign investors, Bulgaria is one of the best countries when it comes to dealing with foreign investment. The country enjoys having foreign income coming into the country and is very happy to work with investors from another country. The easiest way to find the property that you want is to do so through an agent. It is not absolutely necessary to get an agent to purchase a home, but it definitely makes the process a lot easier. Instead of having to fumble through the language and through the lists of homes that are for sale, you can hire an agent to do so for you. Most agents work for a very reasonable fee and are able to cut through any annoyances that you may have if you are trying to do it on your own.
Hiring a Lawyer
One of the second things you may want to do, after you hire an agent, is to find a reputable lawyer. A lawyer is necessary in order to make sure that you get all of your paperwork done correctly. Your agent should be able to help you find a lawyer who is not only able to help you with the mortgage process, but who also speaks your language. Lawyers are also necessary to help you wade your way through the complex business world in Bulgaria.
Prices in Bulgaria
The prices in Bulgaria range from low to high, depending on what kind of a home you want to own. Some choose to purchase apartment-type complexes while others purchase small bungalows that they can vacation in whenever they choose to. The thing to know, however, is that the prices are swiftly rising. Homes that cost only a small amount are quickly rising, and homes that are more expensive are going to become prohibitively expensive within the next few years. The time to purchase a property in Bulgaria is now.
Where to Live
Sofia is a beautiful city to live in. It is the capital of Bulgaria and has amazing parks and beautiful architecture. If you’re looking for something near the water, however, you may want to check out Burgas (beach area in the Burgas region also known as Sunny Beach is one of the most popular sunny destinations). Town of Burgas has an oil refinery and is a commercial port, but it also has a beautiful downtown and is one of the most popular cities for tourists to visit. Rousse is also a city that tourists are familiar with. It is nick-named “Small Vienna” and has some of the best architecture in Bulgaria. If you enjoy winter sports, take a look at Bansko and the explosive growth in new development.
Bulgaria is truly a hidden secret when it comes to architecture and investment. If you’re looking to invest, or to buy an inexpensive home for vacationing, look at the options available in Bulgaria.
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