Bulgarian Property Market

The Bulgarian property market, unlike Bulgaria’s extensive history, has had a very brief existence. The market can be said to have come into existence only about 15 years ago. Ever since, it has been primarily fueled by foreign investors looking to secure for themselves a place in the sun while prices were still very low. Also, Bulgaria’s huge potential as a tourist destination and a new up-and-coming European member state, attracted a vast number of developers and property-related businesses, paying off quite well for their venture.

Now, after the first peak of the market has past, the Bulgarian real estate market has matured and evolved. Prices have dropped with about 30% last year, and although they are not expected to reach the old levels for some time now, the market can really offer good bargains.

In terms of profit to be made, the return on investment can no longer be expected to reach 100% within a year, as it used to with certain types of property some two or three years ago. Still though, the market is much better in terms of investment security. Risk levels have dropped dramatically, the level of service has hugely improved and the quality of the products on the market has also improved a lot.

In consideration with the aforementioned, we can say that the Bulgarian property market now can be described as a much safer, better established and governed industry, compared to what it was five years ago. It is an industry for the well-versed, serious investors, as well as the small buyers, looking for a place to spend their holidays at. The market remains very diverse, offering a huge variety of properties, ready to provide for everyone’s wishes and whims.

Location
Bulgaria is situated in south east Europe and occupies the eastern part of the Balkan Peninsula. To the north it borders on Romania, to the west on the Republic of Macedonia and the Federal Republic of Yugoslavia, to the east on the Black Sea, to the south on Greece and to the south east on Turkey's European part.
Area: 111.000 sq km

Situation
Bulgaria sits at the crossroads of Europe and Asia, right in the belly of the Balkans. Any journey of length showcases the country's amazing variety of landforms. Bulgaria simply resembles a continent in miniature because of its very varied relief and miraculous working of nature where measure is paramount. The country with a 1300 year history lies in the North-eastern part of Balkan Peninsula and during the centuries has been an important link between Europe and Asia.

Our lands are ancient crossroads. They remember many ancient civilizations: The Thracians bequeathed us the famous tombs near Kazanluk and Sveshtari, the unique gold treasures from Panagyurishte and Rogozen. The Hellenes built the beautiful coastal towns of Apollonia, Anhialo and Messambria, and Romans - ancient Aescus, Nikopolis ad Istrum and Nove. Huns, Gothes and Averas later passed through our lands. Around the mid-7th century the Slavs came from the north across the Danube and reached as far as the Black Sea and the Adriatic. They were followed by the Bulgarians of Khan Asparouh.

Cultural heritage
Perhaps the most valuable part of the Bulgarian cultural heritage is the monasteries. A home to tranquil, warm and living beauty, they impress with their unique architecture, unfading frescoes and orthodox icons, created by medieval self-taught architects, builders and painters. It is difficult to imagine Bulgaria in National Revival times without seeing its historical towns and villages. Although they are now preserved as museums, they are still full of life, harmony and beauty.

Once called the sleeping beauty of the Balkans by New York Times magazine, Bulgaria has four beautiful seasons and a gorgeous wildlife. Amazing mountain lakes, sunny beaches, gorgeous valleys, mineral springs and deep chilly caves exist in pure harmony. You will hardly find another European country with such a mix of gentle climate, beautiful scenery, rich wildlife, great cultural heritage, excellent cuisine and perfect wines.

Relief
Bulgaria is distinguished by generous and varied nature - a sea with a 380 km. long coastal strip and golden beaches, 16 mountains (Balkan Mountains, Rhodope Mountains, Rila mountains, Pirin mountain, Vitosha mountains, Belasica mountains, etc.) with their own characteristic features, shelters valleys and high plateaus, over 550 curative mineral springs, dozens of unique natural phenomena and 2000 thrilling caves, a healthy climate and diverse flora and fauna.

Climate
Temperate continental with clearly marked four seasons. A Mediterranean influence is felt in the country's southern regions. The average annual temperature is 10.5˚C. The average January temperature is around zero degrees.