Yields a little further out are similar. 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. Borovets, the gateway to numerous ski and snowboard runs on Rila National Park’s craggy Musala Ridge, is leading the growth. 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 A quick summary of global real estate trends. Property prices in Bulgaria. These areas also have many parks and green spaces, making them popular with expats. - Regular is regular sex per hour. Current Property Prices in Bulgaria. Embassies, museums and universities are located here. Category: House Prices Download historical data for 20 million indicators using your browser. 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. Set in a sunny corner of Europe, Bulgaria has much to offer holiday makers and holiday home owners a like. Of these, the UK was the 13th most expensive, at £254,000. List your company on Global Property Guide. Property prices in Bulgaria from Mirela. 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. • 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 The mortgage market experienced massive expansion during the boom years from just 0.38% of GDP in 2000. 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. Follow the latest developments in the international property markets through the Global Property Guide newsletter. How much rent can be earned from Bulgarian property, compared to the rest of Europe? In Euphoria Club Hotel & Resort, a luxury year-round complex in Borovets, the price of studios starts at €48,000 and one-bedroom apartments are offered for €63,000. Few European holiday destinations can match Bulgaria for affordable property and low living costs. 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. 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. - Rating is based on a scale from 1 to 5 plus. 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. 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) It is likely that some sellers postpone the sale of their properties until the containment of the pandemic,” said Colliers International. The land component of the residential property is included. Total outstanding housing loans increased strongly by 12.7% to BGN 11.41 billion (€5.83 billion) y-o-y in July 2020, reaching 9.3% of GDP, according to the Bulgarian National Bank. House prices are expected to remain more or less steady in the medium term, amidst falling demand as well as supply. Bulgarian house prices, rents, and letting income - real data! Manage your subscription. Summary of cost of living in Bulgaria. It was the biggest y-o-y contraction since Q4 1996. In contrast, the average mortgage rate for euro-denominated loans increased to 3.51% in July 2020, from 3.33% a year ago. Prices of houses start at €450,000. Although Bulgaria’s currency is the lev, prices for most Bulgarian properties are quoted in euros, although in some areas popular with UK buyers prices are quoted in sterling. Bulgaria’s deficit is expected to rise to 3% of GDP this year, amidst falling revenues coupled with rising spending. Already Subscribed? 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. The HPI index level for Bulgaria was set with 2015 equal to 100 percent. Overall, there is a very good return in real estate investment in Bulgaria, oftentimes over 100% +. The Global Property Guide was not able to provide yields in Bulgaria’s beach and ski areas, because rents in these areas are highly seasonal. 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 … In H1 2020, dwelling permits fell by almost 25% y-o-y to 12,245 units while dwelling starts dropped 9% y-o-y to 9,220 units. m in Q1 2020, according to Bulgarian Properties. 2005-2020 Data | 2021-2022 Forecast | Historical | Chart. Sofia’s Southern districts are currently experiencing strong interest from both locals and foreign buyers. Tailor your overseas property investment strategy! Real estate agencies, relying on their own data, report an increase of 10-12 percent. +44 330 038 8226 ** Contact Save Hide. 3,064 properties listed for sale in Bulgaria. Is the price now right for Bulgarian property investments? Building works in Bulgaria: What are the costs? All Rights Reserved. Receive informed analyses and property offers from the world's residential markets directly to your inbox. We estimated the average cost of a city-centre two-bed flat in 99 countries to find out. Sofia, Bulgaria’s capital city, remains one of the most preferred locations in the country. The average residential property price in Kraskova Vada currently stand at about €1,250 per sq. Rent in Bulgaria is, on average… 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. 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. 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. House Price Index for Bulgaria from National Statistics Institute (NSI) - Republic of Bulgaria for the House Prices release. 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 different economic realities across the bloc reflect in high contrast among European real estate markets. Median property prices over the last year range from $900,250 for houses to $618,500 for units. Sofia, Bulgaria’s capital city, remains one of the most preferred locations in the country. @ 2004-2020 Global Property Guide. After five years of strong house price rises, Bulgaria’s housing market is slowing sharply. You can expect that your comment will be published within 24 hours. Get monthly informed analysis on world property markets and exclusive, early access to investment opportunities delivered right to your inbox. We asked Deloitte’s real estate profes-sionals what the average monthly rent of a dwelling in the largest cities is. This page provides forecast and historical data, charts, statistics, news and updates for Bulgaria House Price Index. In Sofia, Bulgaria’s capital, property sales fell by 6.3% to 5,285 units in Q1 2020 from a year earlier, according to the Registry Agency. m. while it is €1,000 per sq. Below price index serve as a guideline. 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. 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 From house prices or rent, to utilities, to food, even to clothes. How expensive are houses in Bulgaria, compared to the rest of Europe? “Projects that are scheduled to start construction in 2020 could potentially be delayed or suspended until next year. Publish your articles and forecasts in our website. Direct access to our calendar releases and historical data. This statistic illustrates the house price index (HPI) in Bulgaria from the 1st quarter of 2014 to the 1st quarter of 2020. 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 Strelbishte and Gotse Delchev are also preferred neighbourhoods with property prices between €1,100 and €1,400 per sq. The other two big ski resorts, Bansko and Pamporovo, have also recorded strong sales. - Legal is explained in more detail here. How do property prices in the UK compare to those of the rest of the world? The most expensive real estate in Bulgaria is for sale at the St. Konstantin and Elena resort. Wages in Bulgaria increased to 1397 BGN/Month in September from 1335 BGN/Month in August of 2020. m. in Q1 2020. European Union citizens can purchase properties in Bulgaria, including land. Dwelling permits and starts have been derailed by coronavirus-related restrictions. Inflation was 1.2% in August 2020, down from 2.9% a year earlier, based on figures from the NSI. The average across all countries was £148,000, which makes the UK’s figure 71% higher than the global average. From 2005 to 2011, 16,700 dwelling units were completed every year. The Trading Economics Application Programming Interface (API) provides direct access to our data. The buying price for two- and three-bedroom apartments of 80 sq. Most properties are purchased for cash. 1 bed apartments: 304 listed for sale £7,877 to £97,205 Average: £26,292. Enter your login email address and instructions for resetting your password will be sent. Bulgaria House Price Index is at 5.40%, compared to 5.00% last quarter and 6.30% last year. The average price of dwellings in Vitosha is currently at €1,100 per sq. The minimum wage in Bulgaria has climbed from 170 euros when we did this post originally to 261 per month today. Featured Bulgarian Property Yields in the centre were around 4% to 6% in 2019, almost unchanged from a year earlier, based on recent Global Property Guide research. View our range of houses, villas and apartments for sale in Bulgaria. m. can be just €50,000. November 25, 2020. Bulgaria’s economy is expected to contract by around 7% this year because of the coronavirus pandemic. In H1 2020, dwelling permits fell by almost 25% y-o-y to 12,245 units while dwelling starts dropped 9% y-o-y to 9,220 units. Most resorts in Bulgaria are suitable for quiet family vacations with children. “Also, in recent years, rental yields have gradually increased and have reached levels that attract investors who seek rental return on their investment.” Bulgarian Properties also added that the supply of properties in Borovets is limited, making it a more stable investment. Advertise Real Estate. Global Property Guide moderates commetns on all articles. ... IBG Real Estate, . Doctor’s Garden, Ivan Vazov, Iztok and Lozenets are among the most sought after addresses in the centre. 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 is one of the fastest rates in the EU, where the average price increase is 4.6% on an annual basis. Only market prices are considered, self-build dwellings are therefore excluded. Here you will find a detailed list of the services we offer and our fees and commissions. That’s still quite low, but the actual average wage has finally climbed above 500 Euros a month at least. Overall inflation is expected to slow to 1% this year, according to the European Commission.eval(ez_write_tag([[250,250],'globalpropertyguide_com-large-mobile-banner-1','ezslot_18',145,'0','0'])); Login or Register to submit a comment! Manastirski Livadi, Mladost and Vrabnitsa districts are also popular with average house prices ranging from €1,000 to €1,200 per sq. 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. 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