Bulgarian property beginning to attract more investors
Bulgaria is a country with a stable economy and excellent climate. Investment in its real estate is profitable, and prices are steadily rising.
Research conducted by Societe Generale Expressbank into investment has convincingly shown that Bulgarian real estate is becoming more attractive to investors.
It’s not just foreign investors that prefer to invest in housing; Bulgarian citizens, both living in the country permanently and working abroad, also prefer this. Renting out flats brings a steady income, and the value of real estate is constantly growing. During 2015, prices have risen by an average of 7-8% in Sofia.
The demand for housing is as follows:
- 38% wish to purchase two-bedroom apartments
- 34% are interested in three-bedroom apartments
- 16% want to buy houses
The Bulgarian investment immigration programme does not involve purchasing housing.
The investment in the country, which is needed in order to obtain a Bulgarian residence permit, is divided into returnable and non-returnable. In the first case, €512,000 must be invested into the government’s investment portfolio for five years in order to obtain permanent residence. The government is obliged to return the money. In the second case, there is a one-time non-refundable payment of €195,000.
After one year of permanent residence, citizenship can be applied for. The amount of the returnable investment is the same in this case; you can invest in shares of companies which are traded on the Bulgarian Stock Exchange or are considered to be certified investment projects, put it in a bank account for 5 years, as well as investing in government bonds for 3 years. The non-returnable investment for receiving citizenship is €105,000.