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Cheap Bulgarian Property

It is hard to believe that you can buy a cheap Bulgarian property for as low as 2000 Euros, which is not much more than the price you would pay for of a second hand car today in the U.K!

OK,it is going to require a lot of work, but if you fancy the challenge then it is a real bargain to get to acquire your own home. While, building and labor costs have increased considerably over the past few years in Bulgaria, it is still a low-priced way of purchasing a property especially if you want a foot on the property ladder.

Cheap

The Bulgarian real estate market has a lot of properties out there on offer for under 6 000 Euros. Be warned thought the house is not going to be up to much and in addition not very big. But, if you are feeling tempted and only searching for a small property to purchase than the work is not going to break the budget. Most people who buy this type of cheap Bulgarian property have a good knowledge of the building trade, and do a lot of the repairs themselves rather than paying for it.

If you have a bigger budget to buy a Bulgarian property for example about 15 000 Euros, then you are going to get a lot of house and garden for your money. The costs for renovating are obviously going to be more expensive, but at the end of it you are going to have stunning property.

The renovation costs

However, don't get carried away because in Bulgaria you can spend the money to rebuild a house and turn it into a mansion with a pool and all of the latest luxuries, but it might not necessarily recover the costs if you consider selling in the future. This is a common tale for a lot of British and Irish buyers who bought and renovated and are now reselling at a big loss for a fast sale. These properties for anyone who doesn't want the hard work of renovating are excellent value for money, because the work has been completed, and the house is often in excellent condition to live in immedaitely or use for a holiday home.

If you are considering buying a rundown property you need to look at it as essentially a lifestyle buy, or possibly a holiday home and not an investment for the time being. Nobody can foresee the Bulgarian property market future, but nevertheless who knows what is around the corner?

The choice

Browsing the internet it is easy to see Bulgarian estate agents have literally thousands of properties on the market across the county and a high number under the 10 000 Euros price range. It does obviously depend on location, and a cheap house at this price is going to be either in a village or outskirts of a town in a cheaper region of the country. Don't expect to buy a house on the coast or in a major city for this price range because you are not going to find them. Recently prices in the cities have started to recover with a slight increase in buyers which are keeping prices stable. In specific areas for example the capital city of Sofia prices have started to creep up.

The Russian Invasion

Bulgaria's property prices have fallen considerably since the crisis hit the country in 2007. The invasion of the Russian buyers and Bulgarian buyers has helped the property market stay afloat over the past few years. Village and rural houses are not that popular with Russian buyers, they prefer to purchase in the major cities and apartments along the Black Sea Coast. Apartments and studios priced between 25 000 to 55 000 Euros is the average cost Russians are spending, so again not that expensive for a coastal location.

Under 50 000 Euros

The amount of Bulgarian properties available for sale is immense, the choice is vast. If you are searching then do your homework. You will discover a massive choice of really cheap properties, and areas of land. But, as well if you look at the higher price range of 50 000, you are going to find a better choice of house and even an apartment by the coast. This cheap price of many of the resale Bulgarian property offers sometimes better value for money than buying a cheap renovation property, because the main work has been done. Although, it means the design of the house will be somebody else's it can still be changed in due time.

If you are looking for luxury in Bulgaria then you will find that too. The higher price bracket in the hundred thousand, even million range buys you an impressive and exclusive luxury mansion; just see what you can buy for your money!

Property experts advise that the demand in buyers is still relatively low compared to what is available on the property market and until the existing house sales are reduced the prices are not going to rise significantly. With the massive choice of properties on the market the completed sales are still slowly.
Forecasters expect 2014 to see an increase in the property market. The main buyers have been up to now cash buyers from within Bulgaria and Russia. The recent fall in Bank interest rates now anticipate people will invest their cash into cheap Bulgarian property as a safer bet than the saving accounts.

 

Cheap Bulgarian Property Examples under 30 000 Euros

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