If I were to tell you that part of Bulgaria’s interior land is being dubbed ‘the new Tuscany’ by a small number of property professionals in the know would that surprise you? While Bulgaria has an excellent reputation for offering affordable ski and coastal property for sale it is lesser known as an area popular with those thinking about escaping the rat race and starting a new life abroad...that is until now! The area of Bulgaria around the ancient and astonishingly picturesque town of Veliko Tarnovo is developing a reputation with those seeking renovation property in Bulgaria for offering the sort of delights that Tuscany once offered those lucky enough to have discovered the Italian region before it became famous!
If you want to buy into an emerging market within an emerging market, tap into the potential for tourism related rental returns and buy at ridiculously low prices perhaps you too should be booking a flight to Bulgaria and a transit to Veliko Tarnovo deep in the heart of rural Bulgaria.
Veliko Tarnovo is a university town, it was also once the capital of Bulgaria and it has a rich and fascinating history that is reflected in the wealth of ancient and amazing architecture. The town and immediate surrounding areas is already highly popular as a tourism destination for the domestic tourist market and slowly but surely the profile of this part of Bulgaria is being raised and an increasing number of Western tourists are discovering Veliko Tarnovo for themselves.
Part of the charm of the region for many lies not just in the inimitably beautiful natural surroundings with rushing rivers, dramatic mountains and acres and acres of undeveloped farmland as far as the eye can see dominating the landscape - rather in the incredibly affordable property prices. Quality renovation property in Bulgaria around Veliko Tarnovo starts from as little as GBP 30,000 with traditional town houses in the city itself starting from amazingly affordable GBP 40,000. Just as it was the case in Tuscany before the Italian area became incredibly well known, the amount and availability of renovation property in this part of Bulgaria is incredibly vast.
According to those who have already made the move to central Bulgaria the areas around Veliko Tarnovo including Mindia, Gostalitsa and Arbanassi are the most popular with the latter being the haunt of the rich in Bulgaria. Property prices in Arbanassi have shot up because of the desirability of the village and reflect the way that property prices in the rest of the region could follow.
Renovation properties in Bulgaria are not for the faint hearted though, and those with good DIY and building skills will find they manage the renovation far easier than those who have to rely on local workers for every single aspect of the project. Labour and materials are generally far cheaper in rural Bulgaria than in the capital of Sofia or even in the main ski and coastal resort areas - but for those who speak no Bulgarian it is going to be tough getting things done!
The best advice that those thinking of buying renovation property in Bulgaria can take on board is that yes, the areas around Veliko Tarnova represent inimitably excellent value for money and offer an investor a fantastic property investment opportunity - but learn some Bulgarian, arm yourself with the basic tools and skills for the renovation job in hand and be prepared to work hard to achieve your dream but be prepared to also thoroughly enjoy the experience.
Finally, the one downside of buying property in Bulgaria’s rural interior is that in winter when the snow comes parts of the country can become impassable and impossible to get into or out of for weeks at a time. Bear this in mind when planning your new life in Bulgaria!