Cost of Construction in Bulgaria (2024)

FAQs

How much does it cost to build in Bulgaria? ›

Relatively cheap cost of construction � finished construction comes at $250-300 Euros per square meter. Great price difference between Bulgaria and Western Europe, making buying of real estate in Bulgaria a very attractive investment for EU countries.

Build a 1 bedroom 1 bath small home with your own hands and cheap materials and it would be in the 20–25k Euros range. A “normal” 2 bedroom, 2 baths, a living and large spaces home with good materials, built by illegal workers would cost up to 60k Euros.

Although you can pick up houses for just a few thousand lev, you'll need another £20,000 to renovate a house in rural Bulgaria to modern standards. In some instances, it just isn't worth it and you might as well just buy land.

And the value of the property, as you know, depends on the purchasing power of the population. Also due to the lower cost of building materials and labor, SEB��the cost of construction in Bulgaria is below the European average. Reason 4: the rise of the cheap offers for the sale of real estate by the Russians.

A family of four estimated monthly costs are 2,143.7$ (3,822.3лв) without rent. A single person estimated monthly costs are 609.4$ (1,086.7лв) without rent. Cost of living in Bulgaria is, on average, 45.3% lower than in United States. Rent in Bulgaria is, on average, 79.3% lower than in United States.

Bulgarian law allows foreigners to own property in the country, but, however, there are some restrictions. A foreigner can buy a property in their own name, provided that the property doesn't come with the land it is built on. In most cases, apartments in Bulgaria are sold without land.

The most important thing to consider is that as a foreigner you cannot buy land in Bulgaria, but you can acquire a house with a plot if you are an EU or EEA citizen. If you are not citizens of these countries, you can access the golden visa scheme that has certain advantages.

Bulgaria house prices grew 15.6% YoY in Sep 2022, following an increase of 14.6% YoY in the previous quarter. YoY growth data is updated quarterly, available from Mar 2006 to Sep 2022, with an average growth rate of 5.4%.

On average in Bulgaria, the value of real estate increased by 10%. Housing has risen in price the most in major cities of the country: Varna, Burgas, Sofia, Plovdiv. At seaside resorts, the price bar is also growing, but at a slower pace.

How much does it cost to build a villa in Bulgaria? ›

Applying these, it suggests that shell construction of a 120 m2 house, might be around 32k euros. While a full finished 180 m2 house would be more like 120k euros.

As a rule of thumb, renovations are often less expensive than building new.

Real-estate investments in Bulgaria are convenient, mainly because the prices are significantly lower than in other European countries. However, certain restrictions apply to foreign investors regarding land purchase and agricultural land purchase in Bulgaria.

The capital city, Sofia, and some of the other big cities, such as Varna, Plovdiv, Ruse, and Burgas, are among the other preferred investment locations. The annual return on investment varies between 3% and 6% on average, but it strongly depends on the type of property, the exact location, and other factors.

Legal Advice

The Bulgarian property conveyance system is different to the UK system so you should ensure that those involved in the transaction are qualified and experienced in Bulgaria. The safeguards that you may be familiar with or rely on in the UK may not exist in Bulgaria.

Ask anyone and the answer will be as follows: warm sea, amazingly beautiful mountain landscapes, European service and, most importantly, relatively low prices, also for housing. It is these factors that have made Bulgaria popular among European overseas property buyers.

The capital city, Sofia, and some of the other big cities, such as Varna, Plovdiv, Ruse, and Burgas, are among the other preferred investment locations. The annual return on investment varies between 3% and 6% on average, but it strongly depends on the type of property, the exact location, and other factors.

The average useful area of a housing in urban areas is 64.88 square meters and in rural areas -62.43 square meters. Most housings are privately owned by individuals - 96.9% and 3.1% of the housings are public property - state, municipal properties, property of companies, public or cooperative organizations.