Posted in Tell me about Bulgaria, tagged Bulgaria, house in bulgaria on January 16, 2013| 1 Comment »
Image by: Google Maps 2013
Bob Simister, purchased a property in the small village of Dolna Lipnitza in 2012. He shared with me a lot of interesting stories in our Skype conversation. I have summarised them in a 14 minute audio slideshow with images from his trip in Bulgaria. So… make a cup of tea, sit comfortably and listen to his story!
Posted in Purchase a property in Bulgaria, tagged Bulgaria, Cheap properties, estates, Properties, purchasing a property, sofia metro station, sofia-burgas highway on January 10, 2013| Leave a Comment »
Photo by: Nikolai Berbatov
“Cheap properties”, “a lot of sun”, “beautiful landscapes”- this is how people used to attract purchasers to the Bulgarian property market in recent years. However, because of some economic changes the expression “cheap properties” might soon disappear from the dictionary of advertisers.
Looking at the chart published by the Global Property Guide, property prices in Bulgaria plunged in 2008 because of the deep world economic recession.
In contrast to this in 2012 prices became more stable. During the past year the property prices continued to fall, but “at a slower pace” says the Global Property Guide.
The explanation is very simple. With the rising of the life quality in Bulgaria began the rise in the property prices.
In the climate of economic recession Bulgaria has managed to continue developing its road and motorway network system.
In summer 2013 the construction of the Sofia-Burgas motorway will be completed. This will make the travel time from the capital city of Bulgaria to the coast 2 hours shorter and it will also increase property prices both on the coast and in Sofia. By the end of 2013 one will be able to travel the 345 km from Sofia to Burgas in 3 hours if one drives at 140 km/h.
Photo by: BGNES
Another factor which increased the estate prices is the Sofia Underground. Before it was build, the apartments and houses in the suburbs were really cheap, but now they are almost as expensive as those in the city centre, because the “tube” makes the distances seem shorter.
This is why, according to the European Statistical System, this October Bulgaria was ranked as “first” in Europe for construction production.
Photo by: Nikolay Nikolov
Based on the latest research one I can say that the golden years of extremely cheap properties in Bulgaria are about to come to an end. One can still find huge apartments for 30,000 Euro or beautiful traditional house in the Bulgarian mountains for 6,000 Euro, but these opportunities will probably disappear by the end of 2014.
My advice is to consider very carefully what do you wish in the New Year, and if this is the purchase of property in sunny Bulgaria, don’t waste any time, GO FOR IT!
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