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"Your chances of success in any undertaking can always be measured by your belief in yourself." Robert Collier
On April 30, 311, Galerius proclaimed the Edict of Toleration at Serdica (today's Sofia - the Capital of Bulgaria) ending the Christian persecutions. Galerius died on May 5, 311. He was succeeded by Constantine I, his longtime rival. Constantine's rule marked a significant turning point for the Roman Empire, for he was the first emperor to convert to Christianity, but even prior to that had strengthened the original 311 edict of tolerance with his own Edict of Milan in 313, which banned all forms of religious persecution in the empire.
September 9,2020 Housing in Bulgaria's Capital Sofia Rose by 49% Within Four Years
Housing in Sofia rose by 48.6% in four years. This ranks the capital in first place among the major cities in the ranking of property prices. The prices of newly built apartments in Sofia in the first quarter of the year are 43.3% higher than in 2015, according to data from the National Statistical Institute. In the case of existing apartments, the increase for the same period is much higher - by 50.6%. For such a long period of time in the rise in price of new and old apartments in Sofia there is the smallest difference compared to other major cities in the country with over 120 thousand inhabitants. This shows that there is a serious demand in the capital for both new construction and existing housing.
In second place among the six largest cities in the country is Plovdiv with an increase in property prices by nearly 48% over a period of four years. In contrast to Sofia, in the city under the hills the rise in price of new construction is significantly higher than that of old homes. The increase in the prices of new apartments in Plovdiv is by 53.1% compared to 2015. Dwellings in existing buildings in the city under the hills for the same period have risen by 45.4%.
The top five of the big cities with the fastest rising real estate is supplemented by Varna, Stara Zagora and Ruse, where the increase in prices for the period is at a similar pace - by 34-37%. However, with a small lead in third place in the overall ranking is Stara Zagora (+ 37.3%), followed by Ruse (+ 35%) and Varna (+ 34.5%). But for each of these cities there is a significant difference between the movement of prices of new and existing housing.
In Varna the new apartments have risen in price by 24.1% for the period, and in the existing ones the price increase is much bigger - by over 40%. As in the NSI data, real estate transactions in the resort complexes are not included.
In Stara Zagora the situation is different. The increase in the price of new construction is significantly higher - by 54.2%, as in this segment of the market the city is ahead of even Sofia and Plovdiv and ranks first in the ranking. In new construction, the movement of prices depends a lot on how many new buildings come on the market, in which neighborhood they are located, as well as on the type of construction - whether it is a luxury gated complex or a simpler building. All these factors have led to more expensive new apartments in Stara Zagora than in Sofia, although the demand for housing in the capital is greatest due to the rapid growth of the city. For the existing apartments in Stara Zagora, the increase in prices is also serious - by nearly 32%, according to national statistics.
In Ruse, the apartments in existing buildings have risen in price by over 35% for the period, while in the new ones the increase in prices is significantly less - by 21.2%.
The last sixth place in the ranking for property prices in the largest cities is for Burgas. Housing prices in the seaside town have increased by an average of 20.8% compared to 2015, according to NSI data. In the case of new apartments the increase is only by 12%, but in the case of dwellings in existing buildings the increase in prices is much higher - by 29.3%.
For the country as a whole, the housing prices for the period have risen by 35.5% and in the movement of the prices of the new and old construction there is a small advantage for the existing dwellings. Apartments in old buildings have risen in price by 37.7%, and the growth of prices of new construction is by 31.8%.
June 28, 2022 Political instability is undermining the investment environment in Bulgaria
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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]
Bulgaria’s Consul-General in Los Angeles: Bulgarians have contributed a lot to the development of the New World 22/12/2022 Far from their country of birth, Bulgarians living overseas have retained their sense of community which is passed down from generation to generation. A feeling that brings them together in the establishment of Bulgarian schools, a church, things that unite the Bulgarian diaspora. One such Bulgarian is Zara Pehlivani, a young girl who contacted the Consulate General in Los Angeles to present her initiative Reading Room. [read more]
Simeon Saxe-Coburg-Gotha is the owner of "Vrana" palace, final court ruling reads 12/12/2022 Simeon Saxe-Coburg-Gotha, son of the Bulgarian Tsar Boris III, and his sister Maria-Louisa are the owners of the park and the "Vrana" palace in Sofia and all claims of the state against them have been definitively rejected. This happened after the Supreme Court of Cassation did not allow an appeal against the decision of the Sofia Court of Appeal, by which the two were recognized as the owners of the property last summer, the website lex.bg reports. [read more]
Biggest apartment complex in Bulgaria’s Pomorie closes doors - what are the reasons 22/11/2022 The largest private apartment complex in Bulgaria’s coastal town of Pomorie "Sunset Resort", also known as the Dutch Village, remained in the dark due to an unpaid electricity bill worth 400,000 euros. This forced the administration to close its doors indefinitely and lay off nearly 500 people working to maintain it. [read more]
irishtimes.com 26/04/2018 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]
Bulgaria: Record Rental Prices in Sofia 21/11/2022 In October, the prices for buying and renting an apartment in Sofia set historical records. There is a surprising increase in rents, which have been stagnant for a long time. Renting a 2-room apartment currently costs an average of BGN 780 (EUR 400), and a 3-room apartment - BGN 1,100 (EUR 565). Rents have never been so high in history. [read more]
Real estate prices in Sofia have doubled 06/11/2022 Real estate prices in Sofia have more than doubled for the past 14 months and they are expected to continue rising. 70% of the deals are for two- and three-room apartments. They are also the most expensive, Vasil Lyunchev, an analyst of the real estate market, told BNR. [read more]
The rise in interest rates and the real estate market shrinkage will not affect real estate prices 04/11/2022 There is a slight shrinking of the real estate market in the country during the third quarter of the year. According to latest expert data, despite the expected increase in interest rates and in inflation, housing prices are still going up because demand is higher than supply. That is the reason why there has been a significant rise in real estate prices over the past year. [read more]
independent.co.uk 17/04/2018 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]
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. [read more]
independent.co.uk 13/12/2017 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]
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]
oxfordbusinessgroup.com 22/07/2010 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]
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]
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]
telegraph.co.uk 05/05/2004 The prices are almost irresistible, but buyers must beware dodgy deals and 'iffy' infrastructure, writes Cheryl Markosky in Bulgaria Beckons. [read the article]
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