Until the recent interest from the foreign market, in effect there was no real estate trade within Bulgaria.  The tourist demand was small and underdeveloped, often with state-owned hotels and establishments, and much of the population had no need to purchase due to the ownership of several properties within the family unit through inheritance.  Generally families stayed within their own area of the country to live and work – there was, in the past, no need to move elsewhere; but when family members did leave home, for instance for work, rented accommodation was usually sought.

Many foreign investors are buying older properties as holiday or second homes, to the fascination (and good fortune) of the older generation, but the number buying purely for investment is increasing, with a view to making a capital gain in the short or long term. 

Mortgages are now available in Bulgaria for foreign buyers and this is sure to increase demand and prices still further.