Bulgaria, with its warm sea, picturesque mountains, rich history, and still affordable prices, continues to attract the attention of foreign investors and real estate buyers. However, before diving into the search for the perfect home or apartment by the sea or in the mountains, it is extremely important to understand the legal specifics, financial obligations, and current market trends. This guide will highlight the key aspects of purchasing real estate in Bulgaria.
Citizens of the European Union (EU) and the European Economic Area (EEA) enjoy the same rights as Bulgarian citizens when purchasing real estate. They can freely buy apartments, houses, and land plots without significant restrictions. For citizens of countries outside the EU/EEA, the situation is somewhat different. They are allowed to purchase real estate in Bulgaria but under certain conditions. The purchase of land (both agricultural and forest) directly by foreigners from third countries is prohibited by the Bulgarian Constitution. However, they can own land indirectly through a Bulgarian company established specifically for this purpose. Such a company is allowed to own land, but its activities must align with its statutory objectives related to real estate.
The process of buying an apartment or house for non-EU citizens does not require setting up a company, but the land under the house must be registered in a special way, usually through a company or on a long-term lease. In all cases, the purchase of real estate by a foreigner requires obtaining permission from the Bulgarian Ministry of Justice. This is a formal procedure that usually takes about a month and is carried out after signing the preliminary purchase agreement. The notary certifying the transaction is obligated to request this permission.
The Bulgarian market offers a variety of real estate options, each with its own characteristics:
Real estate prices in Bulgaria vary significantly depending on location, type of property, its condition, and proximity to the sea or ski resorts. The following approximate price ranges per square meter can be highlighted:
When buying real estate in Bulgaria, it is necessary to budget for significant additional expenses, which can range from 6% to 15% of the purchase price:
The Bulgarian real estate market has shown steady price growth in recent years, especially in Sofia and popular resort areas. This growth is fueled by several factors: relatively low starting prices compared to other European countries, stable demand from both locals and foreigners (especially from the EU and CIS), the development of tourist infrastructure, and general inflation. Experts predict continued moderate price growth in the medium term, especially for quality properties in prestigious locations. Market liquidity heavily depends on the type of property and its location. Apartments in Sofia, large cities, and popular first-second line resorts have high liquidity and are easier to sell or rent. Liquidity for secondary housing in small towns and rural areas, as well as properties in remote areas of resorts or zones with problematic development, is significantly lower. Properties with legal issues or in poor condition are very difficult to sell. Seasonality also affects the speed of selling resort real estate—peak activity occurs in spring-summer.
Making a decision requires a balanced assessment of all advantages and disadvantages. The undeniable pros of Bulgarian real estate include attractive prices, especially compared to Western Europe, opening opportunities for both investments and acquiring a home for vacation or permanent residence. Bulgaria offers excellent natural conditions—clean sea, mountains, mineral springs, and a mild climate. For EU citizens, purchasing is maximally simplified, while for other foreigners, although there are land restrictions, the path through a company makes investments possible. The relatively low cost of living and welcoming attitude toward foreigners add to the appeal. Stable, albeit moderate, price growth in promising areas creates potential for capital appreciation. The possibility of earning income from seasonal rentals in resorts is also a significant factor for investors. However, there are serious cons.
Bureaucratic procedures, especially for non-EU citizens (obtaining Ministry of Justice permission, setting up a company for land), require time and additional expenses. Risks associated with unscrupulous developers or sellers, as well as potential issues with the legal cleanliness of properties, make hiring an independent lawyer mandatory. The seasonality of rental income in resorts means that profitability is not uniform throughout the year. Maintenance costs (utilities, "management tax" in complexes, taxes) must be factored into the budget. Price growth potential and liquidity vary greatly depending on location—investments in depressed regions may be unpromising. The language barrier can create difficulties in communicating with local services and authorities.
Buying real estate here is not only an opportunity to invest profitably or acquire a dream home by the sea but also a chance to obtain residence in Bulgaria. However, for the deal to truly be successful, it is important to consider all legal nuances, objectively assess the risks and prospects of the property, and accurately calculate the budget, including associated expenses. The One World Migration team will help you navigate this journey with confidence—from market analysis and region selection to independent legal support and document processing. We will help you make an informed decision and choose wisely.
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