The unit of currency in Bulgaria (currency code: BGL) is the lev, divided into 100 stotinki. The Bulgarian National Bank is the bank of issue and handles government funds and state-owned enterprises.
On the 5th of July, 1999, the Bulgarian National Bank acted on the previously announced re-denomination of the Bulgarian Lev by introducing new banknotes and coins. The Bulgarian Council of Ministers together with the National Assembly passed and enacted a package of laws and decrees outlining and regulating the re-denomination well before the 5th of July, 1999. Starting at 12:00 am on Monday, the 5th of July, 1999, the Bulgarian lev was substituted by a new lev in a ratio of 1,000:1. That is to say, as of that date 1,000 old leva equaled 1 new lev (equal to 1 Deutsche Mark, 0.51 Euro or US$ 0.55). The re-denomination went into effect for all prices in leva - goods, services, bank accounts, and savings bonds. Until December 31st, 1999, all prices must be stated both in new and old leva; after that date, all prices will be stated in new leva only. The entire process was performed in order to facilitate all payments, as well as all accounting and exchange operations.
Simultaneously with the re-denomination, the Bulgarian National Bank began to circulate new banknotes and coins. Beginning on July 5th, 1999, there were 6 new coins and 6 new banknotes in circulation. Until December 31st, 1999, all individuals and sales persons are obliged to accept both old and new banknotes and coins; after that date, the old currency may be exchanged for new one at any branch of the BNB.
The criminal law and the
Penal Code of the Republic of Bulgaria prohibit the unlawful
reproduction of its currency and the use of any kind of counterfeit
money! Violators will be prosecuted!
Graphics by Bulgarian National Bank
Text by Visit to Bulgaria
© 2022, D. Georgieva
DID YOU KNOW?
Price of agricultural land has risen by nearly 50 percent for 6 years
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Whilst every care is taken to ensure that all general information and descriptions of property is correct we advise all clients to make their own checks and take legal advise when purchasing property overseas. Information and price guides subject to change. All properties shown are to the best of our knowledge genuinely for sale at the time of publication (unless clearly marked "Under Offer" or "Sold"). Although the properties have been visited by our staff and details are produced in good faith, no responsibility is taken by us for any discrepancies, inaccuracies or omissions. All introductions and referrals to agents, lawyers and other services are made in good faith but no responsibility is taken by us for any problems or negligence which may arise. All background information about Bulgaria is taken from that available in the public domain and is not a recommendation from us or our staff although of course we may add comments and suggestions based on personal experience (such as restaurants)
14 July 2021, Our new UK phone number is now active
As of today our new UK landline phone number 020 4577-3369 is opperational for all our clients to call during the extended office hours. Please note the old mobile number (07440 964-345) will be disconnected at the end of July 2021.
14 Feb 2021, Communication restored
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Due to the recent events related to the COVID-19, regretably after 22 years, we had to leave our central Sofia office for correspondance and administrative purposes only. For personal appointments and property viewings please contact us
PROPERTIES IN BULGARIA - our NEW official mobile app is now open for free download on the market at: click here
Bulgarian National Bank to restrict mortgage loans as of 2021, 23/09/2021
The Bulgarian National Bank has taken a decision to restrict mortgage lending. The Board of Directors has decided to increase the capital buffer for banks' risk loans from 0.5% to 1% from 2021. The measure aims to ensure that vaults have sufficient reserves to cover losses on non-performing loans. As a rule, the buffer is increased when it is necessary to "cool" a large increase in credit. [read more]
Price of agricultural land has risen by nearly 50 percent for 6 years, 14/09/2021
The price of arable land in Bulgaria has risen by over 47% for 6 years, the National Statistical Institute reported. In 2014, the average price was 362 euros per decare and in 2020 it was 533 euros. The biggest rise is seen in the southeastern region of the country - over 79%. Agricultural land there used to be cheaper, which made it attractive to investors. [read more]
Bulgarians become the biggest investors in real estate properties in their homeland, 01/09/2021
The Covid-19 crisis has affected all business spheres. However, according to data of Bulgarian real estate agents, demand and sales of housing properties have gone up, especially in the big cities. In their view, this is due to several reasons, but the latest increase in property sales is mainly due to the return of confidence towards Bulgaria’s property market. Investors are showing serious interest in depreciated holiday properties sold predominantly by foreign nationals who are rushing to sell their properties in Bulgaria even at prices below the market prices. This is so, because these people find it difficult to travel during the coronavirus pandemic. The main purchasers of real estate properties in Bulgaria are Bulgarian citizens living in Bulgaria or abroad who invest their savings in properties, in order to rent them or spend their summer vacation in them. [read more]
Are Brits Investing In Bulgaria Because Of Its Lenient Travel Restrictions? 17/08/2021
Many people expected the property market in Bulgaria to struggle in 2021. Property around the world was suffering price cuts, the pandemic having left potential home buyers with limited funds. Furthermore, Brexit was expected to have a big impact on British investment. [read more]
Health Ministry Orders Termination of Contract for New Children's Hospital, 26/07/2021
The Health Ministry has ordered the termination of a contract for building a new children's hospital which would involve the completion of a complex of buildings nextdoor to Sofia's Alexandrovska Hospital. [read more]
Sofia Airport to be Modernized with an EIB Loan of 40 Million Euros, 14/07/2021
The European Investment Bank (EIB) and the special investment company Sof Connect AD have signed a loan agreement of EUR 40 million for the modernization of Sofia International Airport, BNR reported, referring to the bank. Funding is supported by the European Commission's Connecting Europe Facility (CEF). [read more]
Bulgarians Buy out Russian’s Real Property on Black Sea Coast, 04/05/2021
Russians with properties on the Bulgarian Black Sea coast are now selling them en masse. Their withdrawal from the market is not because of the coronavirus, but because of the depreciation of the Russian ruble, according to brokers quoted by Trud. [read more]
Bulgaria's real estate market stable in 2020 despite coronavirus crisis - Raiffeisenbank, 29/03/2021
The real estate market in Bulgaria remained stable last year despite the challenges stemming from the coronavirus pandemic, with residential property prices continuing to grow, albeit at a slower pace compared to the pre-crisis speed, Raiffeisenbank Bulgaria said on Monday. [read more]
UK Embassy in Bulgaria, 31/01/2019
Ambassador Emma Hopkins has a message for UK nationals in Bulgaria. In it she provides an update on latest negotiations, the Embassy's recent work and reminds of the importance of registering with Bulgarian authorities if you reside in Bulgaria. [watch the video]
The flipside is that Bulgarian property is now remarkably affordable and probably appropriately priced. Properties that sold for €80,000 10 years ago are widely available now for €25,000, writes Diarmaid Condon in Is the price now right for Bulgarian property investments?. [read the article]
If you're looking for a cheap beach holiday this summer, you should head to Bulgaria and Turkey, according to the 12th annual Post Office Travel Money Holiday Costs Barometer. [read the article]
British holidaymakers are moving east to extract more value for their pounds, according to Europe’s biggest travel firm, writes Simon Calder in Bulgaria and Croatia See More Bargain-Seeking Brits. [read the article]
Nick Lavtchiev, director of Easy BG - a company that deals almost exclusively with UK clients - told Oxford Business Group (OBG) recently that, "Over-urbanisation is no good for this market. What is the point of going on vacation or having a home in a place that is as overpopulated and ugly as where you came from? There are plenty of other places in the middle of nowhere that are of interest to aspiring permanent residents.". [read the article]
The Report - Emerging Bulgaria 2007, 01/01/2007
"There is significant scope for development of spa and welness tourism due to Bulgaria's many mineral springs. Golf course development is another area where we are seeing growth." said Nick Lavtchiev, CEO of easy BG a local property firm". [read the book]
The prices are almost irresistible, but buyers must beware dodgy deals and 'iffy' infrastructure, writes Cheryl Markosky in Bulgaria Beckons. [read the article]