Property prices in Bulgaria

Property along the coast and in mountain resorts is attractive to buyers of all nationalities. Russians tend to buy homes near the coast, whereas, let's say, the Brits prefer rural or mountainous areas.

Nearly all the Black Sea coastline is dotted with luxurious hotels, villas and residences with Albena, Burgas, Golden Sands, Nesebar, Sozopol and Sunny Beach among the major seaside resort towns. Prices for apartments range from €40,000–70,000. Golden Sands, however, has no vacant land and does not permit new developments as the city borders on a protected wildlife area.

Elite property in Sofia sells for €1,000–2,500 per sq.m with premium flats going for €130,000–170,000 and midrange apartments for €45,000–70,000.

Byala, Varna and Golden Sands show the most potential for price growth: apartments in Varna can cost even more than those in the capital, selling for up to €700,000.

For historical atmospheres and Renaissance architecture, buyers head to its medieval capital, Veliko Tarnovo, hidden away in the folds of Bulgaria’s mountains.

Ski resort properties can be found in Bansko, Borovets, Pamporovo and Vitosha. They boast ample infrastructure with a great variety of ski runs for all levels, modern ski lifts and cosy restaurants. Investors with small budgets can still enjoy an Alpine-style chalet here for the modest sum of €30,000–70,000.

Balneotherapy and spa resorts are burgeoning in Bulgaria. With a year-round tourist season, there are great prospects for buyers wanting to lease out their property in Pomorie, Velingrad and Devin.

Rural homes selling for €10,000–15,000 and city apartments at €40,000 have gained in popularity since the 2008–2009 crisis.

Sellers often set a price at their own discretion, so it is not uncommon to find similar properties for €400/sq.m in one place and up to €800/sq.m, even €1,600/sq.m in another. Discounts are the main drivers of sales.