Higher Bulgarian property market activity mostly in big cities in 2015
2014 was rather active regarding the Bulgarian residential property market. The prices are expected to increase as according to recent data of the National Statistical Institute the average market levels by quarters account on a price growth predominantly in the big cities. This growth relates to the third quarter of 2014 compared to the same period in 2013 – 1.77 %. The average residential property prices range from EUR 650 – 750 per square meter. All the key factors that influenced the property market development can be generalized in brief: decreasing deposit rates, uncertain situation of the banking system and ceased slump of residential property prices.
Now people select very carefully what type of property is really worthy of investing.
Active buyers are young families or people who have sold their property seeking a bigger one. As far age is concerned, there are two types of buyers: the first type includes young people aged 35 and under who are constantly employed and have steady job positions. They are the ones who look for their first residential property to invest in. The second type comprises more mature people aged between 45-50 who are interested in property investment.
The two-bedroom apartments are more attractive and are also not difficult to rent.
This is why it is the most sought type of property. Three- and four-bedroomed apartments were the most demanded ones in 2014 that represent 70 % of all accomplished sales. About 70 % is the share of the buyers who purchase property with their own funds within 2014. At the same time, there is severe competition resulting in an easier drawing of mortgage or another loan. This trend is expected to continue, experts reckon.
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Being an American, I want to write a review that is specific for US buyers, it’s going to be as long as the review from the gentleman from the UK. :) The process for purchasing property in Bulgaria requires the assistance of lawyers. Because we are not in the E.U. there will be additional steps to take that require a visit to the Embassy in the US or if that is not possible, some extra steps to officiate paperwork in Bulgaria. For these reasons you must work with someone very professional, knowledgeable, and of course, trustworthy. I can tell you that Kiki is all of those things and right to the point: she is an expert. For Kiki, she makes the process as easy as breathing. She’s extremely knowledgeable about purchasing property under any circumstance, for any nationality, and even during a global health scare. Nothing whatsoever was any hurdle or issue. Because of the different issues US citizens face, I will be quite lengthy in this review, to review Kiki’s expertise and professionalism, and review the process of investing in Bulgarian property using bulgarianhouse.com.??I chose to purchase property online, totally remotely due to the health crisis. I am located in NY and it was not possible to travel during the restrictions. I have lived in Europe before, I am familiar with the lifestyle, the land, and country villages, so I personally had no hesitation about wanting to invest in a Bulgarian country home, having never been there. For those considering buying remotely I will say that the village is as important as the house. You can use Google earth, research the village names, and watch videos and video travel vlogs about all of them on Youtube. Kiki has dozens-hundreds of listings, she works very fast and you will have many excellent options. From start to finish it was only a few steps of getting documents officiated at the Embassy. I made a mistake and didn’t get the right stamp at the NY Bulgarian Embassy, and within one hour of us realizing it, Kiki had emailed the Embassy, and texted me the agent’s personal phone number -so that I could get a new appointment, first thing the next morning. Which I did.Can you even imagine anything like that in America? This is how Kiki works. Everything is taken care of by Kiki, the expert. This extended everywhere I went. Bulgarian people working at the Embassy: they will treat you like royalty. At every step of the way, I became more sure and more excited about every aspect of this process, and my investment.? There are (minor) extra legal steps taken in Bulgaria to complete the process and all of it must be done in Bulgarian and with the help of a lawyer. Here Kiki being an expert and having everything worked out professionally, means this will also go quickly and easily. I feel like I snapped my fingers and it was over because of Kiki making everything so easy for me. I now own my dream country home that my family and I will love to fix up and enjoy. Kiki went an extra step to send updated photographs to me, and I was so pleased to see there were extra rooms in the house that I had not seen in the listing, and lovely buildings on the edge of the property which I am thrilled about. From this process I feel like I got more than I paid for because of the extra service that Kiki offers her clients. It would be unthinkable for me to buy from anyone else and we are already looking at other properties for the extended family.??A note about buying remotely: times have changed. Because of the health scare, many businesses went exclusively online. I work in renovation, design and construction, so I feel ok sizing up properties from images, knowing I have the experience to handle it. For those that don’t, I think you can rely on Kiki to make excellent recommendations for what you need, and she will be honest about every condition of every home, and she’s very good at this type of help as well. For me, because of what it would cost for airlines and hotels to visit first before purchase, I decided I would rather put that money in the purchase of the property itself, and I’m so glad I did. For other Americans considering investing in homes and property in Bulgaria, I can’t say enough positive things about my experience and how happy this has been for me, and I would not even consider working with another agent than Kiki and bulgarianhouse.com. To any American reading this with any hesitation about the ease of this process, don’t have any stress or concerns whatsoever. I was told exactly what would happen, and then it did exactly as explained. Incredibly, even with me not speaking Bulgarian and a major time difference, it literally could not have gone any better, there was no stress whatsoever, and it has made me and my family very happy.
— Kim Holleman, United States