Bulgarian Property Blog

Prices for the residential properties in Bulgaria registered an increase of about 7 percent since the beginning of the year, data of the National Statistical Institute show.

The average price paid for residential places across the country reached EUR 1300/m2 in the period January - March 2008.

As it was earlier announced, the most expensive properties are those in the capital city of Sofia as their prices are expected to continue their upward march and their annual growth by the end of the year is forecast to range between 10% and 20%.

The growth in prices can be attributed to the brisk demand by well-off people and insufficient supply.

Investors’ interest is high in developments in the big cities, particularly in the capital Sofia and the Black Sea town of Varna and Burgas, which register the highest residential property prices.

The average price of the residential properties in Bulgaria stood at EUR 737/m2 in 2007 compared to EUR 624/m2 in 2006.

Capital Sofia, which boasts the highest salaries in the country, benefited from the real estate boom and recorded the highest rise in prices last year - 25%, reaching an average price of EUR 835/m2.

Good afternoon to all at British Developments.

I would like to express my thanks to all at the Bourgas office for there advise , support & guidance in the purchase of our property in Sozopol Paradise Bay. We first visited back in May 2006 on a viewing trip. From the time we arrived we where well looked after. The visits went really well and the time and advise given was excellent. So much so we felt it right to proceed with a purchase off plan. This we did and during the time it took to build we had regular up dates of process reports with photo’s. I can honestly say that British Developments took away a lot of the stress and worry on our behalf.

I must pay special thanks to a number of staff who have been of great help and support in the whole process and transaction from May 2006 and to our most recent visit September 2007 to sign off and take ownership of our new apartment. Zuzi ( trust me she said) Katya , Marcus & Vladimir who unfortunately has since left but was a great help.

Pej thanks to you and all your staff. We will keep in touch next time we are in Bulgaria.

Kind regards Ian , Sally Woodbridge UK England

Ian Woodbridge
Regional Operations Manager

The price of the agricultural land in Bulgaria remains one of the lowest in Europe.

Parcellation is the main reason for the decreasing of land prices.

Despite this trend, the market in the sphere is dynamic and the sales have increased by 55% in 2006, and by 36% in 2007.

The demand is mainly directed to the big parcels, which are sold at higher prices.

After Bulgaria’s accession to the EU the value of the agricultural lands has increased.

He emphasized that the county is among the leaders in the list of the states, which attract most foreign investments as this tendency is expected to continue in the coming years.