Walter Bowen

Real Estate Agency

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House In Bulgaria, Buy Or Build ?

Posted on January 29, 2014 in News

To buy any property in Bulgaria is also not as difficult to build. Equally, it is treated as acquiring their own homes and to buy an apartment. The only difference is that the construction of a private house, you can make changes during construction and full control over your investment project on time. Self-construction time consuming, but certainly less expensive. Building Materials in Bulgaria are much cheaper than in Russia. For example, the cost of basic construction materials in Bulgaria: Sand – 160r / m, cement-4000r / m, brick – 3r/sht, tiles-200r / m, the tile roofing -60r/sht. In average, in comparison with Russian, 1,5 – 2 times lower. As for labor costs, then the current level of unemployment, it is as low as in Russia.

But given the speculative surge in property prices in Bulgaria the last 4 years, the cost of primary residence in Bulgaria, although lower than in other eu countries, however, it exceeds the cost of the object in 1,5 – 3 times. It is easy to calculate, based on construction costs. This a significant difference – the price / cost will not remain unnoticed for a market economy in Bulgaria. At the same time, the cost of housing in neighboring Bulgaria, the eu countries, which are 2-3 times higher, will not significantly lower prices even in times of crisis. It is likely that in 2009 – 2010, prices for prime property in Bulgaria will drop by no more than 20%, and then will grow as ever at 30% per year. Therefore, self-construction will remain the same over financially advantageous for at least the next 5 years.