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Pros and Cons of Buying Property in Bulgaria

The Pros

• Property is cheaper than in many other parts of Europe, with houses in some rural locations as low as 7000 Euros.
• Good potential for capital growth, with expected accession to the European Union in 2007.
• Diverse range of properties in cities, mountain ski resorts, coastal areas and countryside.
• Between 200 and 2004, land prices alone tripled in some areas
• Recognised as an emerging property market, with potentially high rewards for the bold and the brave!
• Improving infrastructure with funds form the EU.
• Beautiful countryside and coastal areas - offering great locations for properties in unspoiled landscapes.
• Increased exposure of the Bulgarian real estate market in the British media (e.g. ' A Place in the Sun', 'I Want That House').
• Flying time is only two and a half to three hours from the UK - making it perfect for weekend city breaks.

The Cons

• You can not own a property with land as a foreign individual; you have to set up a Bulgarian company.
• Getting to Bulgaria is still more expensive than some other parts of Europe .
• You may have to make a quick decision to avoid losing the property, with the increased interest in the region.
• Financing options may be more limited than if you were to buy in Spain or France for example.
• Alleged concerns over a two-tier pricing structure.
• Roads, pavements and other areas of infrastructure are not currently up to Western standards in some areas.
• Water mains are not available in all areas - you need to check that it is available before you buy or build a well.
• The summer months are not as long as they are in some other European destinations such as Spain - lasting from May until September.
• The buying process can seem daunting at first.