Real Estate in Sofia
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Investment properties in Bulgaria
Bulgarian property continues to attract more and more foreign investors in the past few years. Many property developments in Bulgaria have increased in price by as much as 30% and as tourism levels reach an all-time high so the rental yield potential from investment properties grows. As off plan properties are reaching completion some short term investors are offering their units up for resale and making up to 50%. There has never been a better time to enter the Bulgaria investment property market because Bulgarian government are working on the legislation relating to foreign direct freehold ownership of property and land and it is being simplified and the choice and quality of the new properties being constructed is improving all the time. Bulgarian property was incredibly cheap because labour costs, land costs, corporate taxes, building and utility costs are all far lower in Bulgaria than in other European countries, and now the demand for property is pushing prices up. The rental yield achievable from suitable properties in Bulgaria is also on the increase. As more Western companies establish bases in Sofia so the employment prospects in the city increase, in turn this has resulted in an increase in demand for rental apartments and townhouses in Sofia for executives and international employees. The number of summer tourists frequenting the Black Sea resorts is growing annually and apartments and villas in Varna, Burgas and surrounding areas are now being rented out from May to September for healthy weekly returns. And those with ski chalets and apartments in Bulgaria's popular ski resorts Bansko and Borovets can profit from healthy weekly rents throughout the winter season. Enjoy one of the world's fastest growing property markets with MIRELA Real Estate Agency!