Bulgarian prices set for an increase
The values of properties in Bulgaria are believed to be close to bottoming out and are expected to start rising steadily year by year, claim experts. This comes as the average property value in Bulgaria fell by 6.1 per cent in Q3 year-on-year, according to the Knight Frank Global House Price Index.
It might not seem like a huge amount but it has been described by experts as a “substantial figure”. Farmland is now considered to be a good property investment in Bulgaria as the countryside has “an enormous potential that is unfulfilled at this point in terms of its agricultural development”.
Many buildings throughout Bulgaria are in need of crucial repairs or re-structure, and many will have to be demolished to make way for new developments. There are many buildings in poor condition near to the big cities like Sofia.
Bulgaria currently sits in 44th place in the Knight Frank Global House Price Index for the first quarter of this year. This is out of 50 nations.
For details of property in Bulgaria, visit the Bulgarian listings on Rightmove Overseas. One way to save money when buying in Bulgaria is to use a currency specialist when transferring your pounds into euros to complete the purchase of your property. For more information on this, contact Smart Currency Exchange.
To understand the full step-by-step process to buying a property in Bulgaria, collect The Overseas Guides Company’s ‘Bulgaria Property Buying Guide’