My wife and I are, tentatively, thinking about purchasing a property in Bulgaria. Our eventual view is to live there, but I want to do some research into the good and bad parts of buying/living abroad and thought some of you could help. For us pros are such things as an ability to speak Russian (not too different from Bulgarian and in Cyrillic), not owning a property here (I am on an average salary, so even apartments where we live are out of our price range), and with a family that has nearly flown the nest. Cons are that we have never purchased, so don't know any of the pitfalls, and could not move out there straight away but see the prices rising all the time. Thoughts from anyone?
Do your research. You can purchase as a foreigner an appartment, but you have to set up a limited company if considering the purchase of land or a house/villa and submit annual accounts.
The procedures are bureacratic and involved, but as an investment I think Bulgaria could easily be the next hotspot, (it probably already is). A beautiful country and such lovely people and of course everything there is so cheap.
As in the UK the bulgarian summers are warming up and drying. So add a few degrees to the published annual temps.
Bought an appartment there three years ago, it has now doubled in price so was a very good investment, but if you buy off plan like we did make sure what you are getting as light fittings shower and kitchen wasnt included. If you buy to let it out make sure it is not amongst the Bulgarians living accomodation as they are very nice people but have different standards to us. Rates water charges electric charges are very cheap. good luck to you.
............. ________ ....._____//____I__\_______+ - ---o----------Bentley------------@) -----` --(@)======+====(@)-- im so posh!!!
It is always better to purchase a house than an apartment if you prefer to live in Bulgaria. There are a lot of beautiful places and even so called "english villages".