Episode 66 - Myths when buying property abroad

Many people compare prices in Plovdiv and prices abroad and think that it would be more profitable to buy a property there. But traditionally the truth is quite different, here are some reasons for that:

  • taxes in Bulgaria are one of the lowest in the world and this is a cost that goes into the sale price and is often overlooked by buyers.
  • maintenance of common areas is also quite cheap in Bulgaria, while in many places it is almost equal to the rent or mortgage payment.
  • the cost of the loan, Bulgaria is the third cheapest in the European Union, and most transactions are already carried out through bank financing and at the end of the loan the interest is seriously weighed on the price of the property.
  • the location - when someone says they would buy a property in London for the price of a one-bedroom in Plovdiv, they probably mean about 100km from London, not in a similar central location.
  • the size of housing is decreasing worldwide, not only in Bulgaria, after all investors are in the market to make money, not sympathy.

Buying property abroad or in Bulgaria is the same, it requires preparation, it requires calculation, it is not like buying cucumbers.

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