Property in Bulgaria - Bulgarian rural properties - Real estate, Market, Investments

     The roots of the Bulgarian spirit and character can be discovered in the Bulgarian village, which has preserved to a large extent the uniqueness of our traditions. The stay in a Bulgarian village gives you a perfect opportunity to experience a life that can fill the gaps between cultures and times. In the Bulgarian village the tourist is always accepted and welcom ed as a guest and as a friend, but he will also feel like an explorer of a different way of life. He can identify and live with the ordinary local people, and participate in the agricultural activities; he can study the Bulgarian folklore, and witness the local family and religious celebrations. Our clients from the developed countries remain pleasantly surprised by the hospitality of the local people, who have preserved the spirit of the ancient times, and who, despite the language barrier, try to become their friends and to help them with anything they can.
     The purchase of Rural Property is attractive for those who want to get in touch with the past, to live far away from the rushed city life and to wake up in the morning from the song of birds welcoming the sun. Here is the place to note that most of those villages are accessible throughout the year, they have electricity, running water, small grocery stores, a post service, telephone lines, GSM network coverage, as well as cable service with many international channels for the larger villages. Many of them are situated close to bigger regional cities.
     Why invest in real estate property in the rural area of Bulgaria? Prices levels at these areas are very low in comparison with European standards. The criteria forming the prices of the old rural houses are the age of the property, its style, the area it is in, as well as the existence of close by rivers, lakes, dams, the sea coast or any close-by ski resorts. In most of the cases such properties will require little or much additional money for refurbishment and modernization. Big part of the rural houses, have no shower and WC installed inside and people have their toilets in a separate building near the house. We have very good connections with local builders in all rural areas where we sell property, therefore should you need refurbishments we will fully assist. The work will be performed to a good standard at very reasonable price.
     There are few ways to benefit from purchasing rural properties in Bulgaria:

• Use them as summer houses
• Live there permanently at very low price
• Rent them out to tourists
• Just buy as an investment and sell with profit later
• Develop own rural, eco, mountain, water sports or other type of tourism.

     The interest which is predominantly by foreign citizens directed towards Central Balkan and properties in the region increases. There are two reasons for this increase - romantic and preserving its specific atmosphere nature and the appearance of small Balkan towns, in which it seems that the time has stopped. Staying aside from the interest which until now was directed to the capital and Black sea, Balkan settlements are now opened for the real coveters of silence, calmness, clear air and natural way of living. Up to now they are not many, but in 2005-2006 here can develop third bum in demand and buying of Bulgarian properties by foreign citizens.
     Gabrovo region is very attractive for people who seek this type of property. It is aside from main roads, and until now is behind region of Veliko Turnovo in interest to real estates. But this condition has its positive side - here prices are significantly lower and the supply is sufficient. Most interesting fact is that there is supply of houses and villas with price to 10000 euro which with small expenses can be put in good condition. And no where else but in the region of Tryavna - one of the most beautiful Bulgarian towns with preserved renaissance atmosphere and architectural style. Most numerous are offers in the villages around Tryavna -Slaveikovo, Stoyanovtsi, Gorni Radkovtsi. Here projects with buying of several houses, and construction of settlements of closed type with limited success and their own infrastructure are possible. And everywhere in them there are plots which are attached to them, most of them being fruit gardens with threes and small plants. More than half of offers are for old houses built in the 20ty years of last century, and new buildings from the 70ty and 80ty years of the century are in smaller amount. All houses have fire place, use of stone and wood as building materials is widely-spread. Expectations are that here in 2005-2006 things will happen in one and the same way as in Varna and Veliko Tarnovo, mass buying up of cheap plots, houses and villas in the region. If these expectations become true, prices of properties will surely increase at least to the prices of similar properties in Veliko Tarnovo, Koprivshtitsa and Kovachevitsa. In such a way one buying made in time can bring profit of 30-40 % for year, year and half. And if you make repair corresponding to European requirements, profit can increase more.
     Foreign citizens live up market of houses in "Elenski" Balkan. Prices of old constructions in the region increased their price with 50 %. In this municipality over 50 British families were settled down. Prices of houses in "Elenski" Balkan will continue to increase extensively. In summer of 2004 there was real bum in demand and buying of properties mostly by foreign citizens. Decrease in supply of village houses led to large growth of prices. If in last year prices of preserved old houses were 10-15000 euro, in this year they start from 20-25000 and reach 50-55000 euro. Most demanded and preferred are villages which are situated on no more than 15 km. from the city with regular transport and developed roads, developed shopping networks and covered by mobile operators. Brick houses on two floors with yard place are preferred and the vicinity of forest or river also increases price.
     Approximately in villages in municipality of Elena live about 50-60 foreign families. Biggest is number are English citizens and in some villages already exist colonies of 7-8 up to 10 families.
     In last months except foreign citizens, Bulgarian businessmen also prefer calmness of Balkan, in front of marine shore or Rodopi Mountain.
     Differing from increased of houses, interest to not built-up plots and terrains constantly decreases. People who desire to possess property in the Balkan prefer to pay more for ready home or partly repair, but to escape from new building from the fundaments.
     Prognoses are that in 3-4 years interest to not built-up terrains will increase and their prices will register big growth. Trade will intensify because of fast developing mountain tourism, and increasing number of village houses -hotels. Some of pioneers of mountain hotel business with good vision for the future have already bought up several plots where in the future they will build their new family hotels.
     There is increase in prices of renaissance houses from beginning and middle of 19th century. Prices start from 20-25 thousand euro. Interest towards them is by Bulgarians -of course wealthy and foreign citizens. Demand of renaissance houses exist in Zheravna, Koprivshtitsa, Melnik, Kotel, Troyan, Oreshak. Old houses title architectural monuments are free of taxation. Their price starts from 30-35 thousand euro, Owners are obligated to preserve authentic outer appearance of the building, and if they reconstructions they shall be only inside. Renaissance houses which are not monuments of culture are with insignificantly lower prices. Their floorage is usually 70 sq. m. Price varies if house is near the central part of the settlement or has canalization. Some owners sell 150 year old houses with modern internal furnishing, which increases price. English and Jewish citizens prefer buying plots in renaissance towns where they build new houses in traditional Bulgarian style. Foreign citizens buy extensively old houses having no pretending for their architectural value in the regions of Stara Zagora, Yambol, Dobrich, Strandza Mountain.
     Usually foreign citizens are ready to pay to 40-50 thousand euro for houses in our country with preserved old Bulgarian architecture, built of stone, wood and roof covered with plates, situated near main road and in quiet but not without people inhabited place. Similar price levels are kept by renaissance settlements in the region of Balkan -Apriltsi, Bozentsi, Elena, in the region of Troyan, Tryavna, Teteven. The rest of this type of properties have prices between 20-25 thousand euro and of new houses situated on no more than five km. from big city.
     One of the reasons for increased demand in villages situated near big cities dues the fact that many wealthy Bulgarians buy properties, settle down there and stay to live permanently. Foreign buyers also look for houses near big inhabited places and main roads. Properties shall have yard of at least 1 - 5 decares. Larger yard is not preferred because its maintenance i s difficult. Demand of rural properties is concentrated mainly in regions near big rivers and in the vicinity of forests. Brokers of Bulgarian Property register increased interest in last months towards houses in famous with their spas resort settlements, like Sandanski, Hisarya, Velingrad, Kyustendil, Sapareva banya, Bankya and others.
     The inhabited places themselves shall be well - regulated with shop, post, electricity, water. Most preferred are quiet settlements -not overcrowded, but not without people. Golden middle are inhabited places where in winter at least 50 houses remain inhabited, and in summer people who live there increase several times, because owners come here for the vacation. Statistics show that for the whole 2004 prices of homes on our country have increased with almost 50 %. In the beginning of 2005 most significant is growth of prices in Silistra, Varna and Shumen -as follows 36%, 30.5% and 30%. In the beginning of this year trade in Varna has been on high prices 1200 lv / sq .m. The lowest prices of homes are in Kyustendil (pay special attention -this is region with future -low prices, very well developed infrastructure, many curative mineral sources, wonderful conditions for development of rural and ski tourism.) Sofia is behind Varna -both in price levels and rate of their increase. For the last quarter deals in the capital are realized on average price 1159 lv. Bourgas also have higher index of growth than Sofia 111.2 %. Average price of sold homes in Bourgas is 1069 lv and this puts it in third place in this chart. If we exchange them and make them round average prices in euro look in this way -600 euro for Varna and 580 euro in Sofia. It is true, but causes misunderstanding for the ordinary citizen, who wants to buy apartment. If he has chosen apartment of 80 sq. m. in different regions of the country, its price varies in wide range.
     Statistics show that most significant growth is registered in Silistra (136 %), Vratsa (130%), Shumen (130), Blagoevgrad (25%).
     Price of properties in Vidin increased two -three times with the proceeding of negotiations for construction of second bridge of Danube river between Bulgaria and Romania. In this city near Danube River, square meter living-floor area new building is already sold on prices -350-380 euro. Most demanded in the region are small homes - one or two room apartments. In brick old buildings situated in the centre of the city prices for 1 sq. m. are already over 220 euro. Even concrete homes register significant growth in their prices and are already sold on prices of 180 euro / sq. m.
     In last months there is significant demand of houses in Vidin and in the inhabited places near city and interest to rural properties is predominantly by foreign citizens.
     There is also permanent tend for increase in prices of plots in the city. Most significant is growth in prices of terrains situated on road of future trace of second bridge of Danube river. In agricultural lands deals are finalized on 50-100 lv for decare.
     Blagoevgrad is region where investments "draw" prices in upper direction. This is region where people from neighbouring countries come which want trough us to enter Europe. And investors from European Union who will find here excellent climatic conditions, specialized in different production labour force, modernizing infrastructure. Neighbouring city of Kyustendil is with lowest price levels of sold homes for the last three months -316 lv. But their growth is 9 5. One premise which investors shall consider.
     Vratsa and villages around it become hit for one night -when the news for serious interest by powerful western investor for development of rural tourism was announced. Region round Montana for a long period expects building of second bridge on Danube river, and passing of large flow of people of stocks and people from north to south.
     Most preferred by English remain Black sea and Bansko. Thanks to extensive advertising prices of house in Bansko start from 60 000 euro. English and Russian are already traditional clients on north black sea. Until last year interest was directed to houses on the shore about 30 km. away from Varna with panorama to the sea. In recent time foreign citizens seek rural properties in the heart of the country. There is increased interest to villages Goren and Dolen bliznak, Priseltsi on road to Bourgas. Foreign citizens look for house in faraway region on low price or luxurious property with pool or garage. They insist the village to have these features: to be clean, to be situated near big city and to have food shop. Properties in good condition with internal bathroom and toilet are sold between 20-25 thousand euro. Price of not maintained houses can be under 10000 euro, but fundamental repair is required. Older British citizens are not so capricious -toilet in the yard is something exotic for them and the domestic animals of neighbours walking around is pleasant living situation for them.
     Villages around Balchik and Dobrich are hit this year. The interest to Balchik village Rogachevo is very big. Buildings are in authentic Bulgarian style and have all conveniences -garage, pool, full furnishing. Prices start from 60 thousand euro, and foreign citizens buy properties on construction phase. No matter where property is situated, foreign citizens obligatory buy land under it. For this aim they register firm in our country which has right to buy land. They feel surer in this way, because land makes them real owners of the real estate.