Choosing a country to buy real estate is an important decision, especially if you are considering housing for a holiday, relocation or investment. Spain attracts with its warm climate and developed infrastructure, and Bulgaria - with affordable prices and a growing market.
In this article, we compare both countries in detail: from housing costs and taxes to quality of life and prospects for investors. Our experience with foreign real estate helps answer key questions and choose the best option for you.
Comparison of the real estate market in Spain and Bulgaria
Both countries offer excellent opportunities for living and investing, but each has its own characteristics:
Price: luxury or affordability?
Spain
|
Bulgaria
|
|---|---|
|
Property prices in Spain are traditionally higher, especially in popular tourist areas. In the first quarter of 2024, the average price of housing in Spain was 1,865.8 euros per square meter, the highest level in 14 years. |
Property prices in Bulgaria are significantly lower, making it an attractive option. The average cost of housing in Sofia is around 1,200 euros per square meter, while in other cities and rural areas prices can be even lower. |
Simplicity of transaction execution
|
Spain
|
Bulgaria
|
|---|---|
|
Buying a property in Spain can be complicated and time-consuming. You need to obtain a Spanish tax number (NIE), open a bank account and sign a contract with a notary. In addition to the cost of the property, the buyer pays notary fees, property transfer tax (up to 10% of the value) and registration fees. The transaction time may take 1-2 months, depending on the complexity. |
In Bulgaria, buying real estate is easier for citizens of EU countries. Citizens of non-EU countries cannot buy land plots and real estate with an adjacent plot, but apartments can be bought without restrictions. The tax on the purchase of real estate is about 3-4% of the value. Registration of the transaction and notary fees are also relatively low. The transaction time is usually 1 month due to the simplicity of the procedures. |
Financial stability: investment security
|
Spain
|
Bulgaria
|
|---|---|
|
Spain's property market has recovered from the 2008 crisis, but prices in major cities and popular resorts remain high, making it less affordable for some investors. |
The Bulgarian economy continues to grow. It is less stable than the Spanish one. However, the real estate market in Bulgaria continues to grow, with prices increasing at a rate of about 5-7% per year. Housing costs remain significantly lower than in neighboring EU countries. |
Climate and nature
|
Spain
|
Bulgaria
|
|---|---|
|
Spain is known for its warm climate and varied landscapes, from beaches to mountains. |
Bulgaria offers a milder climate than many other European countries. In winter, the temperature here drops to -4 – -10, in summer the average temperature is +26. There is also beautiful nature with mountains, forests and the Black Sea coast. |
Ease of living: comfort and infrastructure
|
Spain
|
Bulgaria
|
|---|---|
|
Spain offers a high standard of living, developed infrastructure and a variety of entertainment. |
The standard of living in Bulgaria is lower than in Spain, but prices for food and services are also lower. The infrastructure in tourist areas is well developed. |
Culture and language
|
Spain
|
Bulgaria
|
|---|---|
|
Spain is a country with a rich history and culture, where you can immerse yourself in a vibrant atmosphere and taste the local cuisine. |
Bulgaria is a country with hospitable people and a unique culture where you can learn new languages and discover new traditions. |
Why is it better to choose real estate in Bulgaria?
Why is Bulgaria so popular among those looking for a new home or a profitable investment?
Find out about the most promising areas and current prices - get expert advice and take the first step towards a life where comfort, culture and reliability are combined.
FAQ
To purchase real estate in Bulgaria you need:
- passport or identity card (for citizens of foreign countries, a valid international passport is required).
- tax number in Bulgaria;
- agreement with a notary;
- proof of financial solvency (bank statements or other documents);
- a document confirming the purpose of the purchase;
- Certificate of right to purchase for foreign citizens.
Bulgaria is an attractive country for obtaining a residence permit due to low taxes (10% on income), convenient infrastructure and favorable real estate prices. It is also easy to obtain a residence permit for EU citizens and there is an opportunity to obtain a residence permit through investment in real estate (from 300,000 euros).
For citizens of countries outside the EU, there is a Golden Visa programme that opens the door to the EU, offering favourable conditions for doing business and long-term residence.
In Bulgaria, it is more profitable to buy an apartment if you plan to rent out the property. Apartments are easier to maintain and usually have a higher rental yield. In addition, their prices in cities and resort areas are usually lower than for houses. This makes them more affordable for investment.
However, if you are looking for more space and privacy, a house may be a good option. But it will require more maintenance and often has less liquidity on the market.
