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Property prices in Bulgaria

Hello everyone,

Finding affordable housing in Bulgaria is number one priority for newcomers. Tell us more about the estate market in your district/city/region.

What are the most desired places to live? What are the most affordable ones? What is the average cost of a rented flat? And what is the average sale price for an appartment or a house? Could you tell us more about local real estate policies/procedures? What about property tax or residency tax in Bulgaria?

What about you? Where do you live now? Is it a place you would recommend?

Thank you in advance for your clarifications.

Priscilla

My husband and I decided to get away from Sofia and sold our 85 sqm apartment there in 2015 for 60,000 euro. It was in a Kruschev-era building, solid as a bunker, and within walking distance to the city center but also served by all forms of public transport. However it had been rented for a few years and was not in excellent condition- it certainly needed modernisation. It was bought by a couple who already lived in the building with parents and wanted their own place, but near their family. This is very typical in Bulgaria.

We moved to Tutrakan, a town of 10,000 people on the Bulgarian Danube. Attached is  an article I wrote about it in 2012, with plenty of pictures. 

It is strange how few people (even Bulgarians) know about this place, considering its staggering beauty, but then there are few jobs and it tends to suit retired people best.
We paid 10,000 euro for a large merchant's house near the river, and should have paid less, because the place was built in the 1890s and among other things had been used to house three families in the 60s, was later a pioneer youth hostel, and when we bought it was rented very cheaply to social welfare recipients. It had barely been modernised since it was built and we have had to (and continue to) sink a lot of money into it. [link moderated]

While prices in Tutrakan have risen considerably due to tourism development, EU grants and an influx of developers, they remain cheap by any city standards. Foreign buyers (Brits) have shown little interest in the place, seemingly because they like to cluster in areas where there are lots of others like themselves, such as Veliko Tarnovo. The few of us who do live here think this might be a blessing ;). However I would still like to introduce you readers to this stunning place.

Note: It would be hard to find any property in Tutrakan today, no matter how beat up, for less than 10,000 euro, especially if it has a river view, and most of what I've seen advertised is considerably more. Local people are either holding on to their property waiting for tourism to actually boom (it hasn't, of yet) or testing the waters by advertising places WAY over their realistic value. If Tutrakan interests you, stay away from agents, and talk to locals or note 'for sale'' signs on buildings, then be prepared to negotiate. Good luck!

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