Buying in Sofia

[mart123]

Hi,
I will move to Sofia on a short term contract and I thought of buying an apartment for my stay and then renting it out afterwards.
So I have some questions:
Do you guys think that Sofia is a good purchase?
How long does a purchase normally take?
Any ideas of the capital appreciation that one could expect?
or the rent per sqm?
What costs are involved in buying an apartment and how do you get around them?
Do you have trustworthy estate agents or property management companies.

From this forum I get the impression Bulgaria is a bit risky, and perhaps the boom has passed by, i would be greatful for any infi.

regards,
Martin

 

[markno1]

I have bought in a development in the Boyana district off a company called bulgarianhomeshop.com

It is in one of the best districts of Sofia and the prices are only 850euro per m2.

Sofia is still the cheapest out of all the CEE capitals, but there is risk in any investment.

Buying costs including all taxes are about 2000 euro for a 50000euro apartment.

Stay clear of any tourist resorts and you'll be ok.

 

[propertastic]

We're tipping Sofia quite heavily at the moment - it looks like one of the best prospects in Europe at the moment.

It's true that Bulgaria has been over-hyped in the media recently - but all the hype has been around the resort properties. I wouldn't touch the Black Sea resorts or Bansko with a bargepole now.

But capital cities are always a totally different prospect from resorts. All of the Eastern European countries have seen migration from the countrside into the capitals and the housing stock is so poor that anyone who makes a bit of money is going to want to live somewhere better.

Add to this the fact that there will be more FDI into the country as a result of joining the EU, which should bring more ex-pats in.

Prices in Bucharest seems to be increasingly rapidly at the moment. Sofia is sure to catch up as prices are quite significantly lower.

Also there seems to be very little tourism in Sofia at the moment. I think that this will change over time.

I spend a lot of time in Riga and saw how the stag parties moved on from Prague to Riga over the past three years. But now Riga is pretty expensive already and there is a big anti-stag backlash from the locals and so I can believe that people are going to start travelling further away over the next few years.

So, in summary, I think your idea of buying in Sofia while you're there is an excellent one.

 

[brendan92]

hi i am thinking of buying too doe,s anyone have any idea of the rents in the pavlovo area for a 1 bed 60 sq m

 

[brendan92]

hi i am thinking of buying too doe,s anyone have any idea of the rents in the pavlovo area for a 1 bed 60 sq m

where did pavlovo comke from i meant sofia

 

[carol]

hi i am thinking of buying too doe,s anyone have any idea of the rents in the pavlovo area for a 1 bed 60 sq m

Hi brendan i have sent you a PM

 

[vthills]

pavlovo?!

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