€50K – Bulgaria’s magic number in 2011
The most sought after homes in Sofia, Bulgaria’s capital, during 2011 were apartments costing around the €50,000, while the most active buyers were young families.
Leading agency Bulgarian Properties, who made the findings, also reported that while the property market in Bulgaria remained relatively stable in 2011, overall prices fell.
While apartments in Sofia accounted for the biggest share of home sales in 2011, typical spends for holiday apartments on the Black Sea coast and in the ski resort of Bansko were between €20,000 and €40,000, while for rural houses buyers were spending between €15,000 and €20,000, which bought homes in good condition and ready to move into.
Apartments in Sofia and in the other large cities were bought mainly as homes by Bulgarian buyers. They were mainly young families buying their first home and getting on the property ladder or families who want to move to a bigger or more luxurious home. As for holiday properties, the main buyers were Russians, purchasing lettable holiday homes.
For details of property for sale 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 or Bulgarian levs, 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’