Over 100,000 Euros for Countryside Property

The prices of countryside property can exceed 100,000 euros but most of the offers on the market are for houses whose prices vary between 30,000-90,000 euros.
The factor that defines the end price is the state of the property. There are houses sold for between 10,000-20,000 euros but they are not fit for living in and need a lot of repairs.

However, not only foreign citizens are interested in owning a house in the countryside but Bulgarians as well which doubles the prices. As a whole buyers are mostly interested in purchasing a real estate in Central Bulgaria, as Veliko Tarnovo is among the most preferred municipalities.

Foreigners look for the cheapest house possible but insist on it being close to a big town, near the sea or in the mountain. The properties bought most often cost between 5,000-15,000 leva as the end price is defined by the size of the yard. Some of the main requirements include the normal access to the property and the good communications. Another important condition is the village where the property is located to be habitable and there to be a shop and a doctor. The traditional Bulgarian architecture is also among the buyers' requests.

Usually it is Britons, Belgians, Russians and Greeks who show the greatest interest in purchasing property in a village but this year there are many French interested in striking a bargain as well. There are already many foreign citizens living in Bulgaria all year round but there are also such who buy a house for investment purposes.

More and more Bulgarians are fascinated by the idea of a countryside real estate as they buy old houses for investment purposes. After its renovation the price of the property may increase tenfold if the area is attractive.

The infrastructure is the main reason for this market segment to develop slower than the rest. If it improves there will definitely be more Bulgarians who would prefer to live in the villages. Even now many buy a village house to spend the weekends away from the busy city.

Source: Pari daily