Is investing in Bulgaria profitable?
To answer this question, here are 10 reasons that illustrate why investing in Bulgaria can be the best investment decision you ever make:
1. Membership of the European Union
Bulgaria has been a member of the European Union since 1 January 2007.
2. Currently stable LEV, prospects for the new currency Euro.
Bulgaria is currently in the so-called “waiting room for the Euro”, the outlook for the adoption of the European currency is set for 1 January 2025. For this reason, real estate on the Black Sea coast is expected to have strong growth potential. This fact has also been observed in recent years.
Bulgaria recorded the highest annual house price growth among EU countries in South Eastern Europe (SEE) in the third quarter of 2022 at 15.6%, closely followed by Slovenia at 15.4%.
Source Eurostat on 12.1.2023
3. Membership of key NATO and EU organisations
Bulgaria is considered a politically and economically stable country. It is part of key EU, NATO and WTO (World Trade Organisation) organisations. Bulgaria is also working towards joining the Schengen area and their goal is to become part of the largest borderless zone in the world.
4. Affordable real estate
Bulgaria offers high quality real estate at some of the lowest prices in Europe; for example, Sofia, the country’s capital, offers lower comparable commercial rents than similar European cities such as Budapest, Prague, Warsaw and Athens. Investing in property on the Black Sea coast is interesting, where you can actually buy attractive apartments in great residential apartment complexes from as little as €37,000. Since the introduction of the European currency, property prices are expected to maintain their value with a view for their growth.
5. Lower energy costs
Should you decide to retire or work from Bulgaria, you will make significant savings on your energy bills, as electricity costs are roughly two-thirds cheaper than the European average.
- Strategic geographic location
Bulgaria has a strategic location in the east and connections with other countries that are part of the EU. The growing real estate markets in neighbouring Turkey and Greece, the proximity to Russia and the Middle East are also good signals and advantages for this emerging country. Geographically, Bulgaria has a huge natural advantage, both economically and geopolitically. It maintains direct access to some of the fastest and largest markets in Europe (including, of course, the single market), and its geographic location allows it to serve Europe, Russia, North Africa and the Middle East – for key emerging markets especially in the years ahead.
- Advanced transport infrastructure
Bulgaria has 4 major airports connecting it to many destinations around the world. They are located in major cities – Sofia, Plovdiv, Varna, Burgas. As well as two main ports – in Varna and Burgas.
Bulgaria is constantly improving thanks to its extensive and modern transport infrastructure.
8. Climate and natural possibilitiesare choosing this country as a great low-cost option for the retirement period.
All places and seasons are great because the country has beautiful mountains where people love skiing in winter or summer relaxation because there are many seaside villages that are perfect for spending a summer day at the beach. Winter is much milder by the sea.
- It has attracted a lot of foreign investment in recent times
After reading this list, you may not be surprised to find that Bulgaria has attracted a lot of foreign investment in recent years. This in itself is a great reason, as it provides reassurance that many other investors see high potential in Bulgaria. According to the United Nations Conference on Trade and Development (UNCTAD), foreign direct investment (FDI) inflows in Bulgaria have remained at a consistent level of more than €1 billion. This is no small feat given the size of the economy.
- Fast and easy involvement in the local community
People in Bulgaria are some of the most hospitable people, so your integration into the local community is extremely easy. The food is also not to be missed, Bulgaria has a great variety of local great food that hasn’t changed that much over the years and is an integral part of Bulgarian cuisine. Apart from the local cuisine, you will find various other options for eating world cuisines and flavours everywhere.
It is not difficult to get along here, as the young generation speaks English well, as well as other languages such as German, French, Russian, Spanish, Italian. These languages are often taught in schools, where young people are very interested in them and are constantly improving their skills for the sake of their future.