Pros and Cons of the Bulgarian Real Estate Market
Saturday 16 February
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by Theodora Borissova
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Real estate market in Bulgaria for the last 15 years has improved consistently, but still could be defined as developing .
Since the introduction of the currency board in 1997 Bulgaria has been politically stable country with a developing economy and the preferential conditions and guarantees for foreign investors have generated excellent business opportunities and investment growth potential. Bulgaria real estate prices are by far lower than other destinations in Europe but the estimated acceptance of Bulgaria in the European Union provides unprecedented growth potential that will certainly boost the prices of the Bulgaria real estate in the near future. Bulgarian market or real estate is still unexplored and undeveloped to a certain extent, which makes it very attractive and profitable.
Bulgaria has one of the most liberal foreign investment laws in the region regarding Bulgaria real estate, as well as the foreign investors. According to the Bulgarian Constitution and legislation foreign persons and companies can invest in real estate in Bulgaria either personally or through a local legal entity. Generally speaking, foreigners as persons can acquire only buildings but not land.
Therefore, the most popular and preferred by non-residents ways to become the real estate owners are: As far as houses, villas, flats and limited ownership rights (the right of use, the right to build a house, etc.) are concerned, you can directly purchase them as a person.
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