Europe:
Bulgaria – A new property market in an ancient country
Situated in the southeast
of Europe; it borders Romania and to the west
Croatia and to the south its neighbours are Greece
and Turkey. To the east Bulgaria touches the Black
Sea, which also links it to Russia. The Black
sea borderline is 240 miles long. It is situated
at a crossroad between Europe and Asia and a key
position for motor, river and sea transport of
a large group of countries.
Bulgaria has four international airports and
extensive network of road and train services.
The country has four seasons with dry hot summers
and much to do, such as activity holidays –
skiing, climbing, riding, hunting and fishing.
For those who wish to relax, there are the beautiful
beaches, healing spas, amazing nature and hospitable
and friendly people in the towns and villages.
The country is now a full member of NATO and
has received formal invitation into the EU in
2007. The likelihood of EU membership is believed
high, as Bulgaria has complied with most of the
EU accession criteria.
Under the Bulgarian act on Foreign Ownership,
foreigners are not allowed to own land but may
own buildings. Foreigners can however own land
by setting up a Bulgarian company to hold the
property for them. Exceptions to this are off
plan properties and some apartments.
Bulgaria’s ownership policy may well be
harmonised with the EU in the future.
The country has a fast growing tourist industry
and investment here comes with high expectation.
The cost of living is particularly good value
and the quality of life high, with property prices
currently some of cheapest in Europe we expect
to be dealing with Bulgaria more and more in the
near future.
Whilst every care is taken to ensure
that all general information and descriptions of property is correct we
advise all clients to make their own checks and take legal advise when
purchasing property overseas. Information and price guides subject to
change. Please go to our notices section for further information
