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Five Factors to Buy in Bulgaria

Back in 2008, Bulgaria's property market's rapid growth came to a dramatic end, from reports of British purchasing low cost beach and ski properties suddenly drying up. Since then the United Kingdom has seen a lot less advertisements and promotions for Bulgarian property.

 It's fair to say that the real estate market in Bulgaria these days has been a lot quieter. Nevertheless it has during the past few years been kept alive with Russian investors, who like Bulgaria for its similarities to their own in lifestyle, food and language. According to recent official figures 338 000 Russians own property in Bulgaria with last year witnessing a 10% increase on previous years. Bulgarian Properties reported that Russians make up for 85% of buyers on the Black sea coast and 15% in the ski resorts.

However, the property prices appear to be gradually stabilising and recent new laws from the government implementing more control within the property business are certain to make for a more reliable professional standard.

Clearly the Bulgarian market is still in its infancy compared to other European countries, although 2013 could be a time to reflect on some of the advantages, especially if you are searching for a low cost property. Agent Polina Stoykova of Bulgarian Properties reveals five top factors why she thinks now is a great time to buy.

1. Bulgarian property prices have stopped plummeting. Yearly drops have been below 5 %.

2. After plummeting 50-60 % since 2008, Bulgarian properties are actually one of the most cost effective in Europe.

3. There are now better regulations within the real estate market which have been introduced by the government to provide more protection for buyers.

4. Reasons to buy in Bulgarian include: a more relaxed way of life, cheaper cost of living in Bulgaria, a wide range of landscape, good climate and Bulgarian hospitality.

5. Economic and political stableness provides a good foundation for financial investment.

"Added to all these there is also the fact that Bulgaria is easy to reach with a three hour flight of the united kingdom, and offers a good assortment of investment properties, from beach, ski and rural to city apartments," says Polina.

In Bulgaria's largest and most well known ski resort Bansko, apartments are available from the unbelievable cost of €19,000 and just two minutes from the gondola in modern developments with all amenities. Where else can you get a modern well equipped ski apartment that cheap?

Finally, always ensure you use a good lawyer to help you within the buying process.

Read Buying a Home in Bulgaria for more information about the buying process in Bulgaria.