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Back You are here: Home Property Where to Buy Bulgarian Property: Hotspot

Bulgarian Property: Hotspot

Currently, most buyers looking to buy property in Bulgaria are those seeking a holiday home, retirement property or a permanent move rather than investors with their calculators at the ready for making a fast buck. In other words, lifestyle buyers. With so many areas having been 'done to death' by British buyers, who bought at the top of the market, the question now is where to look for quality value-for-money authentic Bulgarian property this year?

 


Over-supply in sea and ski resorts, has lead to some developers of new constructions experiencing difficulties in completing complexes and property prices have fallen in these areas. In other regions, Veliko Turnovo, so popular with the Britons during the past few years, has seen prices plummet and, whilst lovely, it has one major draw back it is a long way from the international airports. The regions of Elhovo and Yambol saw initially a huge surge in foreign buyers, predominantly because the propertieswere so cheap, but this is a poor agricultural region of Bulgaria.

The lifestyle buyer is more demanding in terms of both location and quality. Quite rightly so; they are looking for a property which will be a home. These buyers are seeking to secure a long-term property investment, somewhere original, a piece of the real Bulgaria, where the prices have not been pushed up by foreigners and yet have also maintained their value during these economic difficulties.

The major cosmopolitan cities of Sofia and Varna remain well positioned of course for those seeking a decent return on city centre property. But for those wishing for a more genuine Bulgarian experience, city, sun and ski are being put to one side and being replaced by excellent quality village properties, within 90 minutes of an international airport in thriving locations with architectural flair and style.

These chic pproperties are suitable for those looking for a holiday home or a permanent move they combine a great lifestyle choice and long term investment value.

Quest Bulgaria investigates one such potential area in the Sliven / Bourgas region of south east Bulgaria.

Situated in breathtaking countryside with panoramic views, this area is set on the edge of Balkan Range (stara planina) towards the city of Bourgas. Hidden in the arms of the Sliven Mountains, with its enchanting natural beauty and spirit, is the new treasure of this region.

There are a number of well developed pretty villages to be found in this area, Kotel and Jervana being the two most well known, offering a good quality of life, yet within an hour or so of the coast and Bourgas international airport. The average price of property in this region is around 40,000 to 50,000 euros.

Bourgas and the southern Black Sea coast has always been a favourite with many Bulgarians, who often prefer it to the northern coastline, saying that this region is more friendly and has retained more of its natural beauty.

The buying fundamentals are all here

Buying where the locals buy, is always a good thing to do as prices are usually more affordable and generally prices hold better in any crisis. The other key to follow is - where the tourists go, the property buyers follow later as prices are sustainable. The villages in this area are in the main "listed villages", meaning they are architectural and historic reserves and are protected. They attract thousands of tourists and the style of the villages has to be preserved. Most buyers know, that they are not building any more of these original quality properties and, like anything where there is low supply, prices are maintained and increase.

These key factors are also why you won’t find the best 'deals' in this area. You can’t wander around looking for cheap sales here because this market wasn’t funded by huge amounts of borrowing.

Property is nearly all Bulgarian-owned with no mortgage, many also are bought by wealthy Bulgarians as holiday homes for themselves during the summer months.

However,  what you will find is that the prices are significantly lower than the resorts, the quality and architecture of the houses is beautiful and property is extremely good value for money.