Real Estate Investment in Sofia

Excellent choice for earning through price increase and rents

Where else would someone consider investing in real estate but the wonderful capital of Bulgaria, Sofia? Sofia is a great city that is the largest city in Bulgaria with a population of over 1.3 million. The city of Sofia is said to set the tone for every other city in Bulgaria because it is said to be undisputed in its economy and other things. Sofia is a great place to search for real estate to invest in.

Sofia has the most dynamic market for properties in Bulgaria and one of the major things to invest in are apartments. As Sofia is a large city some places are better than others to find real estate in the form of apartments. The first place you should look to find good investment apartments would be in the center of Sofia. Then you might check some of the good residential areas, like Lozenets, Lagera, and Iztok. The next best place to find apartments in Sofia is the fast growing business districts. These areas are great for investing in apartments because business and leisure travelers as well as the people who work for the business’s in Sofia. Many people would love to have an apartment to stay in close to where the need to be. One other way to make the most out of your apartment investment is to consider also buying a parking space, as with any big city, parking can be hard in Sofia. Although Bulgaria has the best property prices in Europe, prices in Sofia will be more than in other cities because property here is in high demand, but the more you pay for your apartment, the more rental income you can get back.

You do not have to buy new apartments in Sofia to get a good investment. Sometimes it can be difficult to get a lot of people interested in renting a new apartment because it will cost more. The other option is to find and old apartment that needs some work done to it. Older apartments in the center of Sofia may, actually, turn out to be a better investment because you will buy it for cheaper and potential renters will be more likely to rent it because the prices will be lower for them as well. Your real estate agent may be able to help you find the stuff you need to refurbish your new/old apartment. Also, you will have the pleasure of personalizing the apartment with your tastes.

One thing you need to watch is if you are a foreigner trying to purchase an apartment. Buying an apartment by itself is not a problem, it is only if the apartment comes with a land plot, or a yard. Then you need to register a company in Bulgaria to hold the title, which your real estate agent can help you with, because as of the moment, foreigners are not allowed to own land in Bulgaria. It is a simple issue to fix but it will cost a little extra. All in all, Sofia is a great place to invest in real estate if you know where to look.