Foreign property attracts many buyers. Some consider it as an investment. Others - for relocation or seasonal holidays. More and more often among those wishing to buy a home are considered Spain or Bulgaria. Each country - inexpensive property, its own features, pros and cons.
In this article we will consider the key issues. We will analyse the factors that can affect the decision of investors. For example, we will compare the EGP of Spain and Bulgaria, as well as the complexity of processing the transaction.
Property market: comparison of Spain and Bulgaria
In both countries there are many tempting housing options. Including for investment. To find out where it is better to buy property - in Spain or Bulgaria, let's look at the main factors:
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Climate, places to live. Warm Spanish climate may not suit everyone. Bulgaria is more comfortable for life. In winter it is rarely colder than -7°C. Summers are not so hot. The average temperature is around 25-28°C. If you compare the geographical location of Spain and Bulgaria, it is difficult to decide. Both countries have a diverse landscape. You can buy a house or a flat with a beautiful view of the sea, forest, mountains.
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The price of real estate. The cost of housing in Spain, as well as in Bulgaria, is growing annually. It remains stably high. Average property prices in Spain fluctuate in the range of 1800-1900 euros per m². Bulgaria is more attractive in this regard - 1200-1500 euros.
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The simplicity of the transaction. It can be difficult to buy housing in a Spanish town. This is due to the rules established at the legislative level. The complexity of preparing documents. Delay may cause additional costs. Carrying out one property transaction in Spain takes 1-2 months. Buy housing in Bulgaria is easier and faster, especially apartments, secondary property. Even complex transactions are not longer than 3-4 weeks. The exception are townhouses, plots with adjoining territory.
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Payback. Most clients consider the purchase of property for subsequent rental. Because of the high prices in Spain housing pays off longer. Even despite the cost of rent 2 times higher. The average yield in Spain is 3.7-4.8%. In Bulgaria, this figure is higher - 4.8-6.5%.
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Comfort of living. Developed infrastructure, the cost of utilities, transport, food - important criteria when buying property to move. Spain is a rather expensive country to live in. It offers a good standard of living, a variety of entertainment. Infrastructure in the resort, large cities in Bulgaria is not worse developed. But the prices for everything here are noticeably lower.
What to choose and where to buy property: in Spain or Bulgaria
Of course, such a decision is made individually. It is necessary to assess a number of factors, risks, possible prospects. It is not important, considered to buy property from the developer, villa, secondary housing.
In our opinion, Bulgaria is more preferable in terms of investment. Here are a few key factors:
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Visa policy. Investors can quickly obtain a residence permit. There is a special programme for this purpose. Citizens of different countries may not make a visa to enter Bulgaria.
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Cost of property. Prices for housing in Bulgaria are more attractive. In some EU countries the cost of property can be up to 40% more expensive.
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Taxes. Taxation in Bulgaria is noticeably lower. When buying a house, flat or flat, the client will have to pay a tax of 3-4% of the total amount. In Spain it is about 10%.
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Health care. Observance of generally accepted standards of medical services is the same for all EU countries. But in Bulgaria their cost is significantly lower.
The key advantage of this country remains affordable price, high profitability of rental housing. For example, you can inexpensively buy property in the resort of Sunny Beach, rent it to tourists. In a few years you can get a net profit.
To conduct a property transaction quickly, with a guarantee of safety and quality, it is better to immediately contact specialists. Such as Bulgarian Resales. We are professionally engaged in buying/selling housing in Bulgaria. We provide high quality services at a favourable price.
