... IBG Real Estate, . Great weather, low cost of living, friendly people all of which are about 3 hours from London airports. In H1 2020, the average sales price ranged from €145,000 to €180,000 for two-bedroom apartments and from €210,000 to €250,000 for three-bedroom apartments, according Colliers International. Amidst the pandemic, many investors have turned their focus to Bulgaria’s mountain resorts. We then calculated the rental yield, using the aver - age transaction price of a new dwelling as a market value and an average monthly rent per sq m. The above mentioned yield is interpreted as a gross yield, meaning that The Trading Economics Application Programming Interface (API) provides direct access to our data. Rents for houses start at €2,000 per month. Doctor’s Garden, Ivan Vazov, Iztok and Lozenets are among the most sought after addresses in the centre. Get monthly informed analysis on world property markets and exclusive, early access to investment opportunities delivered right to your inbox. Furthermore, Bulgaria doesn’t JUST have the cheapest house prices in Europe, but also has an extremely low cost of living, with a loaf of bread costing only £0.43, a one way ticket for transport (£0.53) and a meal at a restaurant for one - £4.45. It is likely that some sellers postpone the sale of their properties until the containment of the pandemic,” said Colliers International. If you are looking for an investment property, consider houses in Mornington rent out for $500 PW with an annual rental yield of 2.9% and units rent for $440 PW with a rental yield of 3.7%. Prices … We asked Deloitte’s real estate profes-sionals what the average monthly rent of a dwelling in the largest cities is. The different economic realities across the bloc reflect in high contrast among European real estate markets. - Rating is based on a scale from 1 to 5 plus. The most expensive real estate in Bulgaria is for sale at the St. Konstantin and Elena resort. In Bulgaria, the House Price Index measures residential property market prices. Select city in Bulgaria: Cost of living in Bulgaria is 42.25% lower than in United States (aggregate data for all cities, rent is not taken into account). The declaration has been extended several times, most recently until end of September. eval(ez_write_tag([[300,250],'globalpropertyguide_com-banner-1','ezslot_14',127,'0','0'])); Investors are looking for investments that provide capital gains and rental returns. More than 92% of the new housing loans are BGN-denominated loans, with IRF of up to 1 year. Compare countries on 4 financial dimensions, Contributing is easy and it works for you, Sources: National Statistical Institute, Global Property Guide, Interest rate fixation (IRF) of up to 1 year: 2.89%, down from 3.07% a year earlier, IRF over 1 and up to 5 years: 2.69%, slightly down from 2.82% a year ago, IRF over 5 and up to 10 years: 4.38% (in May 2020), up from 3.73% a year ago, IRF over 10 years: 2.53%, down from 3.4% a year earlier, IRF of up to 1 year: 3.53%, up from 3.28% a year earlier, IRF over 1 and up to 5 years: 1.49%, sharply down from 5.04% a year earlier, IRF over 5 and up to 10 years: 2.27%, down from 3.03% a year ago, IRF over 10 years: 4.54%, down from 5.01% a year ago, Domestic consumption growth slowed to 0.4% y-o-y, following a 4.1% growth in Q1 2020, Gross fixed capital formation fell sharply by 14.1% y-o-y, following an annul decline of 5.6% in the previous quarter, Exports were down 19% y-o-y, following a decline of 1.9% in Q1 2020, Imports fell by 19.1% y-o-y, far worse than the previous quarter’s 1.2% drop. In Lozenets and the city center, demand remains high despite that fact that these locations have the highest property prices in the country, at an average of €1,900 per sq. Apartment prices here range from €80,000–90,000 to €250,000–300,000. Yields a little further out are similar. The land component of the residential property is included. Bulgaria Inflation Rate Drops to 0.8% in October, Bulgaria Retail Sales Fall at Slower Pace in September, Bulgaria Construction Output Falls Less in September, Bulgaria Industrial Output Shrinks for 7th Month, Bulgaria Consumer Morale Remains Weak in Q4, Bulgaria Tourist Arrivals Fall 67.9% YoY in August, Bulgaria Current Account Surplus Narrows in June, Bulgaria Producer Inflation Slows to 8-Month Low of 1.4%, US Crude Stocks Rise for 6th Straight Week, Italian Stocks Rebound after Worst Selloff in 2 Months, London Stocks Rebound on Renewed Brexit Trade Optimism. • Consultation related to the buying or selling of a property – free • Selection of suitable properties for sale and rent – free • Regular newsletters with the newest listings and property market analyses – free for registered users.You can subscribe for our newsletters here In the southern part of Sofia in Vitosha Mountain (or in the vicinity) are prestigious suburban neighborhoods like Boyana and Dragalevtsi. This is one of the fastest rates in the EU, where the average price increase is 4.6% on an annual basis. Tailor your overseas property investment strategy! A quick summary of global real estate trends. In the first half of 2020, newly built dwellings soared 52% y-o-y to 7,133 units, following an almost 49% increase in 2019. +44 330 038 8226 ** Contact Save Hide. Global Property Guide moderates commetns on all articles. Strelbishte and Gotse Delchev are also preferred neighbourhoods with property prices between €1,100 and €1,400 per sq. The country offers every type of location too, from beach and mountain resorts, to rustic villages and vibrant cities, each with homes at prices you'll find hard to beat. Cost of basic construction The average cost of construction in Bulgaria for a quality building with construction done, wall plastered, and ceilings done is 250-350 Euros per m2 Additional costs Prices of houses start at €450,000. View our range of houses, villas and apartments for sale in Bulgaria. From 2000 to 2008, Bulgaria had a house price boom, with residential property prices surging around 300%. How much rent can be earned from Bulgarian property, compared to the rest of Europe? Average price comparisment of a basket of holiday goods Below is comparison of 12 holiday countries in Europe. But it remains far higher than the 5.3% unemployment rate in August 2019. Sofia, Bulgaria’s capital city, remains one of the most preferred locations in the country. Set in a sunny corner of Europe, Bulgaria has much to offer holiday makers and holiday home owners a like. 3,064 properties listed for sale in Bulgaria. Find overseas properties to buy in Bulgaria with the UK's largest data-driven property portal. That’s why the housing market started to rise in 2014 and has been accelerating ever since, recovering from a massive crash after the boom from 2000 to 2008, when residential property prices surged around 300%. This statistic illustrates the house price index (HPI) in Bulgaria from the 1st quarter of 2014 to the 1st quarter of 2020. The mortgage market experienced massive expansion during the boom years from just 0.38% of GDP in 2000. It was the biggest y-o-y contraction since Q4 1996. m. in Q1 2020, according to Bulgarian Properties.eval(ez_write_tag([[580,400],'globalpropertyguide_com-box-4','ezslot_8',124,'0','0'])); Other districts in demand include Studentski Grad and Vitosha because of the availability of newly-built homes at affordable prices. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Here you will find a detailed list of the services we offer and our fees and commissions. ... Storey of a house House Cottage Building plot Office Shop Restaurant & Bar SHOPPING CENTER Warehouse Workshop Hotel Building CAR SERVICE CAR WASH CLINIC FARM FITNESS CENTER HAIR/BEAUTY SALON MEDICAL/DENTAL OFFICE These areas also have many parks and green spaces, making them popular with expats. Transaction costs in Bulgaria are moderate, and more or less evenly split between buyer and seller. Few European holiday destinations can match Bulgaria for affordable property and low living costs. After five years of strong house price rises, Bulgaria’s housing market is slowing sharply. The bubble burst at the end of 2008: In 2009, Bulgaria’s average dwelling price plummeted by 25.72% (-25.64% inflation-adjusted); In 2010, the average dwelling price fell by 4.96% ( … All Rights Reserved. “Projects that are scheduled to start construction in 2020 could potentially be delayed or suspended until next year. We estimated the average cost of a city-centre two-bed flat in 99 countries to find out. The average across all countries was £148,000, which makes the UK’s figure 71% higher than the global average. Of these, the UK was the 13th most expensive, at £254,000. Bulgarian house prices, rents, and letting income - real data! While this creates an opportunity for some to afford more and lead an improved standard of life than possible elsewhere, the cost of living in Bulgaria is not as low as it is for good reason. Category: House Prices The buying price for two- and three-bedroom apartments of 80 sq. The average price per linear metre for a dry-stone wall is 215 leva (£100).Typical dimensions would be 1.6m height and 0.50m depth, with concrete foundations of at least 0.50m. To build a stone wall around an average-sized garden of 1,000 square metres (30m by … House prices are expected to remain more or less steady in the medium term, amidst falling demand as well as supply. The price per square meter in some EU capitals can be as even 10 times higher than in others, as in the comparison between Sofia, Bulgaria and London. 2 bed apartments: 512 listed for sale £14,654 to £214,890 Average: £41,074. This will reduce supply in the short term and keep prices at their current level.”. From 2000 to 2008, Bulgaria had a house price boom, with residential property prices surging around 300%. Enter your login email address and instructions for resetting your password will be sent. The Bulgarian government declared a State of Emergency on March 13 due to the pandemic, shutting down many businesses as it introduced social distancing measures. If you want to get a bit further off the beaten path or don’t fancy relying on public transit while in Bulgaria, it can be a good option to hire a car. The HPI captures price changes of all kinds of residential property purchased by households (flats, detached houses, terraced houses, etc. Embassies, museums and universities are located here. Rent in Bulgaria is, on average… The overall trend for markets is of price increases. Manage your subscription. In contrast, the average mortgage rate for euro-denominated loans increased to 3.51% in July 2020, from 3.33% a year ago. Receive informed analyses and property offers from the world's residential markets directly to your inbox. Though new developments being built here are increasing the stock of rental apartments, we find better yields here on the very smallest apartments, with yields stretching up to 6.4%. If you’re planning on sticking to a tight budget, only travel between cities every few days and walk most place, expect your transportation prices in Bulgaria to average around €3 per day. Get GPG fortnightly newsletters delivered to your inbox. Wages in Bulgaria increased to 1397 BGN/Month in September from 1335 BGN/Month in August of 2020. Publish your articles and forecasts in our website. The other two big ski resorts, Bansko and Pamporovo, have also recorded strong sales. m in Studentski Grad. A large one-bed apartment in Sunset Resort cost €100,000 in 2010 and sold for €45,000 in 2018 Thu, Apr 26, 2018, 17:00 List your company on Global Property Guide. Family of four estimated monthly costs: €1,822 (3,569 лв) Single person estimated monthly costs: €754 (1,478 лв) Bulgaria is the 4th cheapest country in Eastern Europe (10 out of 13) Cost of living in Bulgaria is cheaper than in 76% of countries in the World (57 out of 75) European Union citizens can purchase properties in Bulgaria, including land. Bearing that in mind it is obvious that the accommodation costs should not exceed that amount. 9. In order to promote open and spam-free conversations, Construction peaked in 2009 when dwellings completed exceeded 22,000 units. Dwelling permits and starts have been derailed by coronavirus-related restrictions. This page provides - Bulgaria House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news. This is higher than the long term average of 0.79%. ... House price growth close to three-year high. Bulgaria’s economy is expected to contract by 7.1% this year, according to the European Commission, following expansions of 3.4% in 2019, 3.1% in 2018 and 3.8% in 2017 and annual average growth of 1.2% from 2009 to 2016. For sale by Owners, Developers, International Agents, Real Estate Agencies, Law Firms, Accountants, Portals, https://www2.colliers.com/en-BG/Research/Residential-Market-Overview-H1-2020, https://www.nsi.bg/en/content/13329/hpi-national-level-2015-100, https://www.nsi.bg/en/content/5772/hpi-statistical-regions-2015-100, https://www.nsi.bg/sites/default/files/files/pressreleases/New_Dwellings2020q2_en_SKL65AZ.pdf, https://www.nsi.bg/en/content/5790/dwellings, https://www.nsi.bg/en/content/5778/short-term-statistics-residential-buildings, https://www.bulgarianproperties.com/Newsletter_archive/sofia-housing-prices-Q1-2020_496.html, https://www.bulgarianproperties.com/Newsletter_archive/borovets-hit-on-the-market-2020_509.html, https://www.globalpropertyguide.com/Europe/Bulgaria/Rental-Yields, https://www.imf.org/external/pubs/ft/weo/2020/01/weodata/index.aspx, https://ec.europa.eu/info/business-economy-euro/economic-performance-and-forecasts/economic-performance-country/bulgaria/economic-forecast-bulgaria_en, https://sofiaglobe.com/2020/09/04/bulgarian-economy-shrinks-by-10-in-q2-2020/, https://www.reuters.com/article/us-bulgaria-budget-idUSKBN24137A, Bulgaria’s house prices rising rapidly, due to strong economic growth, Bulgaria’s housing market - getting better. On a quarterly basis, the economy contracted 10% in Q2 2020, the second-largest decline on record. @ 2004-2020 Global Property Guide. Bulgaria House Price Index is at 5.40%, compared to 5.00% last quarter and 6.30% last year. The average residential property price in Kraskova Vada currently stand at about €1,250 per sq. Sofia has moderate to good gross rental yields - i.e., the rental return on a property if fully rented out, before all expenses. Unemployment stood at 7.5% in August 2020, down from 7.9% in July, 8.3% in June, 9% in May and 8.9% in April, thanks to the government’s job support schemes aimed at helping businesses weather the effect of the pandemic. In Q2 2020, Bulgaria’s economy shrank 8.5% from a year earlier, as the COVID-19 pandemic hit the economy, according to the NSI. Before January 2012 foreigners could purchase land only in the name of a legal entity and were not allowed to own a property.eval(ez_write_tag([[300,250],'globalpropertyguide_com-medrectangle-4','ezslot_3',123,'0','0'])); All Bulgaria’s major cities saw strong to moderate house price rises during the year to Q1 2020. - Regular is regular sex per hour. The nationwide house price index rose by 4.72% (1.69% inflation-adjusted) during the year to Q1 2020, following y-o-y rises of 6.21% in Q4 2019, 5.58% in Q3, 5.02% in Q2 and 7.29% in Q1, according to the National Statistical Institute (NSI) - the slowest house price rises since Q1 2016.eval(ez_write_tag([[468,60],'globalpropertyguide_com-medrectangle-3','ezslot_0',126,'0','0'])); In recent years almost zero interest rates on bank deposits have encouraged people to invest in real estate. Manastirski Livadi, Mladost and Vrabnitsa districts are also popular with average house prices ranging from €1,000 to €1,200 per sq. Bulgaria - more bang for your buck in 2019? In H1 2020, the average monthly rent in Sofia ranged from €950 to €1,200 for two-bedroom apartments and from €1,300 to €1,600 for three-bedroom apartments, according Colliers International. Borovets, the gateway to numerous ski and snowboard runs on Rila National Park’s craggy Musala Ridge, is leading the growth. m. can be just €50,000. Most properties are purchased for cash. Download historical data for 20 million indicators using your browser. - Legal is explained in more detail here. 1 bed apartments: 304 listed for sale £7,877 to £97,205 Average: £26,292. The average price of dwellings in Vitosha is currently at €1,100 per sq. The HPI index level for Bulgaria was set with 2015 equal to 100 percent. The country recorded a budget deficit of about 1% of GDP in 2019, mainly due to the country’s US$1.256 billion deal with the United States to acquire eight F-16 fighter jets. 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Of which are about 3 hours from London airports best opportunities Park’s Musala! The long term average of 0.79 %, compared to the 1st quarter of to! Are houses in Bulgaria increased to 1397 BGN/Month in August 2019 Trading Economics Application Interface... Increased 30 %, compared to the 1st quarter of 2014 to the rest of Europe climbed above euros! From 2.9 % a year earlier, based on a scale from 1 to 5....