Investing in Sofia Real Estate: The Complete How-To Guide

Published on January 17, 2026 and written by Cyril Jarnias

Investing in real estate in the city of Sofia is attracting a growing number of European and international savers. As the capital of Bulgaria, a member of the European Union and now part of the Schengen Area, the city combines still affordable prices, a fast-growing market, and strong rental yields. But behind these advantages also lie risks that need to be managed: rapid price increases, specific tax rules, regulations that vary depending on the investor’s nationality, tensions between the center and the outskirts…

One of Europe’s most dynamic markets… yet still affordable

The first thing to understand when considering investing in real estate in the city of Sofia is the speed at which the market is transforming. All indicators point in the same direction: the Bulgarian capital is one of the most dynamic residential markets in the European Union.

Prices have literally exploded in ten years. They have tripled since 2015: the average price per square meter was around €715 in 2015, around €1,200 in 2020, then €1,550–1,650 in 2023. By the end of 2024, the average was already around €1,840–1,900/m², and by mid-2025, several sources place the average price between €2,100 and €2,200/m², or even €2,310/m² according to some reports, representing an annual increase of over 25% in the last year.

A surge driven by strong demand and limited supply

In 2024, prices in Sofia increased by 12% to 20% depending on the segment. In the second quarter alone, the year-on-year increase reached 16%, almost double the 8.8% recorded the previous year. New homes appreciated by over 20% in one year, older homes by about 13%.

At the same time, construction is slowing down. In 2024, housing starts fell by about 21% nationally, and new housing deliveries dropped by around 18%. In Sofia, newly completed residential buildings decreased by 17–22% in one year. In other words: demand is rising, but supply is not keeping up, maintaining upward pressure on prices.

Prices still very competitive on a European scale

Despite this surge, investing in real estate in the city of Sofia remains significantly less expensive than in most EU capitals. According to international comparisons, average prices in Sofia remain 60–70% lower than in cities like Prague or Warsaw, and up to 80–90% lower than in major Western European capitals.

For investors, this means two things:

– the entry ticket remains accessible (you can still find studios starting from €50,000–60,000);

– the catch-up potential compared to other Central and Eastern European capitals (Budapest, Prague, Warsaw) is, according to many analysts, not exhausted.

Price projections for Sofia still forecast a 5–10% annual increase in 2025, then a more moderate pace of 3–7% annually after 2026, with long-term growth estimated at 3–6% per year over 10–20 years.

How much does a property in Sofia cost by neighborhood and type of housing?

Overall averages are useful, but what matters for an investor is especially the concrete price of a studio or two-bedroom apartment in a specific neighborhood. In the city of Sofia, the gaps are considerable between the hyper-center, the sought-after southern residential districts, and the large panel housing complexes on the outskirts.

Price overview by area

The table below summarizes the indicative price ranges per m² in some major residential sectors, from various 2024–2025 reports.

Area / Neighborhood	Type of property	Indicative price per m² (€)
Center (downtown)	New	2,200 – 2,800
	High-end central	3,000 – 4,000
Lozenets	New	1,900 – 2,600
	Old	1,600 – 2,200
Vitosha (south residential)	New	1,700 – 2,300
	Old	1,400 – 1,900
Krastova Vada	New	1,600 – 2,100
	Old	1,300 – 1,800
Studentski Grad	New	1,300 – 1,700
	Old	1,100 – 1,500
Mladost	Mixed	900 – 1,400
Lyulin / Budget areas	Mixed	900 – 1,400
Boyana / Dragalevtsi	High-end house	2,500 – 3,200+
Close suburbs (Bankya…)	Single-family houses	120,000 – 300,000 per property (range)

To give a sense of scale, here are some concrete examples of prices in 2025:

– Studio of about 30 m²: starting from around €100,000;

– 1-bedroom apartment of 50 m²: starting from around €150,000;

– 2-bedroom apartment of 100 m²: starting from €260,000;

– 3-bedroom apartment of 170 m²: starting from €500,000;

– Luxury penthouse: starting from €600,000.

Prices vs. rents: a key profitability indicator

Price-to-rent ratios provide a quick measure of the market’s “expensiveness” for an investor. In Sofia, the price-to-rent ratio is about 24.2 in the center and 21.9 outside the center, which remains lower than in some capitals like Prague (ratio above 17 but with lower incomes), but already indicates a relatively valued market.

The price-to-income ratio around 9.4–9.75 reflects the significant effort local households must make to buy, which strengthens the rental demand, especially among 25–35 year olds.

The rental market: yields, rents, and demand profile

Investing in real estate in the city of Sofia can target three main strategies: classic long-term rental, rental for students and young professionals, and short-term rental like Airbnb. Each has its figures, neighborhoods, and risks.

Rental yields: from 4% to over 7% gross

Available data indicates average gross yields around 4–4.5% for the city of Sofia, slightly below the Bulgarian national average (4.53% in Q2 2025). However, this average hides significant variations:

– City center: roughly 3.5–4.5% gross;

– Outlying residential neighborhoods: 4.5–6% gross;

– Specific niches (Mladost, Studentski Grad, certain two-bedroom apartments in the suburbs): up to 7–8% gross for well-targeted cases.

In reality, “typical” gross yields for residential apartments are more in the range of 4 to 6%, with opportunities at 5–7% for well-located small units. After expenses, taxes, and management fees, the net yield is generally 1.5 to 2 points lower than the gross profitability.

Here is a simplified summary.

Property type / strategy	Typical gross yield in Sofia
City center apartment (1–2 rooms)	3.5 – 4.5 %
Outskirts apartment (Mladost, Lyulin…)	4.5 – 6 %
Studio / 1-bedroom in Studentski Grad	5.5 – 6.5 %
Optimized 2-bedroom in the suburbs	5 – 7+ %
Short-term (Airbnb) well managed	5 – 8 % net depending on location

A concrete example illustrates the mechanics well: a two-bedroom apartment in Mladost bought for €100,000 and rented for €650 per month produces a gross yield of about 7.8%. Rented for €700, the yield climbs to 8.4%. Conversely, a one-bedroom apartment in the city center bought for €175,000 and rented for €600 offers only about 4.1% gross.

Rental levels: center vs. outskirts and by type

Rents have increased significantly in recent years, supported by strong demand from young professionals, expats, and students, while the supply, especially of quality housing, remains limited. For 2023–2024, the indicative monthly rent ranges are as follows:

– Studio: €400–500;

– 1-bedroom: €500–700;

– 2-bedroom: €700–1,000;

– 3-bedroom: often above €1,000, especially in the center and sought-after neighborhoods.

– 1-bedroom in the center: average rent around 1,150 BGN (≈ €588), range 900–1,500 BGN;

– 1-bedroom outside the center: about 866 BGN (≈ €442) on average;

– 3-bedroom in the center: 2,149 BGN (≈ €1,098) on average, can go up to 3,000 BGN;

– 3-bedroom outside the center: around 1,513 BGN (≈ €773).

The differences between neighborhoods are very marked. In terms of rent per m²:

– Sofia Center: €12–15/m²;

– Lozenets: €10–12/m²;

– Mladost: €7–9/m²;

– Lyulin: €6–8/m²;

– Studentski Grad: €5–7/m².

Typical monthly rents by neighborhood can be summarized as follows:

Neighborhood	1-bedroom (€/month)	2-bedroom (€/month)
Center	700 – 850	1,100 – 1,500
Lozenets	600 – 750	800 – 1,300
Mladost	500 – 650	700 – 900
Lyulin	400 – 550	650 – 800
Studentski Grad	375 – 450	600 – 750

It is clear that well-connected southern neighborhoods (Mladost, Vitosha, Krastova Vada, Manastirski Livadi) offer an interesting compromise: rents higher than the northern outskirts, but prices per m² still well below the hyper-center, translating into better yields.

Who to rent to? Typical tenant profile in Sofia

Local agencies emphasize that 90% of rental inquiries are for fully furnished apartments. The most frequent profile:

Vacancy rates are very low for quality properties: 3–5% rental vacancy in sought-after central neighborhoods like Lozenets and Sofia Center, and less than 4% in family-oriented areas like Mladost or Lyulin. Older or poorly maintained properties, however, can suffer vacancies of 8–10%.

Neighborhood focus: where to invest in the city of Sofia and for what strategy?

Investing in real estate in the city of Sofia requires choosing between immediate yield, capital appreciation potential, and risk profile. Different neighborhoods do not offer the same balance.

Center and hyper-center: capitalization and high-end rental

The center (around Vitosha Boulevard, Doctor’s Garden, Sredets, Oborishte) concentrates the highest prices, tourist demand, embassies, universities, museums, and a large part of the nightlife (over 150 bars and clubs).

Assets for the investor:

– strong demand for short-term rental (Airbnb) and for high-end rental for expats and executives;

– very good potential for price appreciation, supported by land scarcity and density of services;

– possibility to transform old apartments into premium products through renovation.

Limitations:

– lower gross yields (often 3.5–4.5%) for long-term rental;

– scarce parking, making it essential to purchase a parking space with the property if possible;

– nuisances (noise, traffic, pollution) that may deter some families.

Properties to renovate in the old center can, however, constitute great opportunities: buying a socialist or pre-war apartment at a “discounted” price, modernizing it (insulation, kitchen, bathroom) and targeting expat clientele or short stays.

Lozenets, “the green pearl”: balance between prestige, nature, and yield

Lozenets is often presented as one of the city’s best compromises. An affluent residential neighborhood, very green, adjacent to the center and large parks (Borisova Gradina, Loven Park), served by the metro, it attracts a wealthy local clientele and many expats.

– Long-term rent: €600–700/month;

– Gross annual income: €7,200–8,400;

– Operating expenses (taxes, maintenance, management): about €2,000–2,500/year;

– Net annual profit: €4,700–6,400, equating to a net yield close to 4.5–6% depending on the setup.

In tourist short-term rental, annual revenues can reach €12,000–15,000 for the same property, at the cost of more intensive management.

Lozenets should also remain one of the most in-demand neighborhoods for purchase in 2025, which suggests additional price appreciation (several analyses mention an increase of 3–7% per year in the short term).

Developing southern neighborhoods: Krastova Vada, Manastirski Livadi, Vitosha, Malinova Dolina

A significant share of new projects and modern residential complexes is concentrated south of the ring road, towards Vitosha Mountain. These neighborhoods combine three highly sought-after factors by buyers:

– relatively quick access to the center (via metro or major boulevards);

– greener environment and better air quality than in the center;

– still attractive price/location ratio compared to Lozenets or Doctor’s Garden.

Manastirski Livadi also shows over 70% more sales than previous years. This neighborhood is popular with young professionals, with new complexes, medium-sized units, and decent access to major arteries.

Vitosha and Malinova Dolina, on the city’s edge at the foot of the mountain, are seeing the emergence of many high-end projects, sometimes oriented towards “wellness” and ecology. The air quality is better than in the center, attracting family and expat clientele.

For a rental investor, these neighborhoods typically offer:

– prices per m² lower than the center and Lozenets;

– solvent clientele (young executives, families);

– gross yields often above 5% for small and medium-sized units.

Studentski Grad: the student stronghold, ideal for small housing

Studentski Grad concentrates university campuses and over 40,000 residents, mostly students. It’s a lively neighborhood, with many affordable bars and restaurants (over 40 dining options), very oriented towards nightlife.

For the investor, this neighborhood is the archetype of the “high-yield small unit” strategy:

– Studios: around €102,000 for a typical unit, rent around €400, gross yield close to 4.7–5%;

– 1-bedroom: around €147,000, rent of €590, gross yield about 4.8–5%;

– 2-bedroom: around €245,000, rent of €790, yield around 3.8%.

Mladost, Lyulin, and the large complexes: the yield/risk game

The large panel building neighborhoods (panelka) like Mladost, Lyulin, Druzhba still house the majority of Sofia’s population. Prices remain much lower than in the south and center, but long-term challenges are real: these blocks built in the 60s–80s are reaching their theoretical lifespan limit (50–70 years) and will require massive works.

In the short term (2025–2035), some of the oldest structures risk becoming uninhabitable without renovation, and by 2035–2050, a significant portion of the stock will need to be renovated or replaced, with an estimated cost between €3 and €18 billion (likely around €8–10 billion), partly subsidized by the EU via energy efficiency programs.

For the investor, this translates into: identifying market opportunities and assessing associated risks.

– very attractive prices today;

– potentially high gross yields if the property is well-purchased;

– but a structural risk of having to contribute to major works (façade, structure, insulation) or seeing the property lose value if no renovation is undertaken at the building level.

In the “new” segment of these neighborhoods (Mladost notably, with good metro access), the situation is different: the combination of moderate prices, excellent accessibility and good family demand makes it a very interesting area for buy-to-let long-term.

Purchase, taxation, and legal framework for foreign investors

Investing in real estate in the city of Sofia involves navigating a specific legal and tax framework. Bulgaria has been an EU member since 2007, and rules vary depending on whether the investor is a citizen of the EU/EEA or not.

Who can buy what?

The key rule is simple:

– EU/EEA (and Swiss) citizens: same rights as Bulgarians, they can buy apartments, houses with land, buildable land plots;

– Non-EU: can freely purchase apartments (as legally they do not include land ownership), but cannot directly own land (garden, plot, house + land). For that, they must create a Bulgarian legal entity (typically an OOD / Ltd) which will own the land.

Furthermore, all foreigners, including Europeans, cannot directly buy agricultural land, forests, or vineyards. For this type of asset, you need to go through a specific structure (usually a company) or give up.

Creating a Bulgarian company for a non-EU person takes about twenty days, costs around €600 and requires a registered capital of 5,000 BGN (about €2,600), capital which can later be used for the acquisition.

Steps in the purchase procedure

The acquisition process is relatively standardized and secure, but it requires a good understanding of the formalities and legal checks. In practice, many investors carry out almost all the steps remotely via a power of attorney, without traveling.

The main steps are as follows:

2. Signing a preliminary contract This is a binding contract, which sets the final price, deadlines, penalties, and the payment schedule. A deposit in the order of 10% of the price is common.

3. Legal checks (due diligence) An independent lawyer checks the title deed, the absence of mortgage, seizure or easement, building permit compliance, obtaining the Act 16 (use permit) for new buildings, etc. This process takes about 30 days.

4. Signing the notarial deed (Title deed) The deed is signed with a territorially competent notary. The notary verifies the identity of the parties, the provided documents, collects taxes, and registers the transaction.

5. Registration in the land registry and with the municipality Registration in the real estate register generally takes a week. The new owner must then register with the municipality for the property tax within two months.

6. Opening meters and services Applying for or transferring accounts for water, electricity, possibly district heating.

Acquisition costs: what to expect?

The total transaction cost for the buyer generally represents 5 to 8% of the purchase price, excluding any real estate agency commission. The main items are:

Cost item	Indicative rate
Transfer tax (Sofia)	2.5 – 3 % of price / tax value
Land registry registration	0.1 % of the value
Notary fees	0.1 – 1.5 % (capped at approx. €3,000)
Lawyer fees	~€500 – 1,500 (0.5 – 2 % depending on case)
Agency commission (buyer side)	Typically about 3 % in Sofia

In practice, fees and duties are calculated on the higher value between the price stated in the deed and the “tax value” determined by the municipality. This value takes into account area, location, and the nature of the property, and also serves as the basis for the annual property tax.

Holding, rental, and capital gains taxation

Bulgaria has a reputation for moderate taxation, especially for real estate income.

– Garbage / municipal services tax: generally an additional 0.1–0.2% of the tax value, often collected together with the property tax.

– Tax on rental income: the basic rule is a flat rate of 10% on net income. In practice, for a non-resident, Bulgaria often applies a withholding tax of 10% on the gross rent, with no deductions, when it comes to rents paid by a Bulgarian company. For more elaborate schemes (deductions, depreciation), one needs to go through a local structure (company) and full accounting.

– Capital gains tax upon resale: the capital gain realized by a non-resident individual is in principle taxed at 10%, calculated on the difference between the sale price and the acquisition price adjusted for inflation (under certain methods). However, there are significant exemptions for Bulgarian residents on their primary residence or on properties held for more than 3 or 5 years. For a foreign investor, these exemptions only apply if they become a Bulgarian tax resident, which requires meeting presence and center of interest criteria.

The following table summarizes the main taxes related to a standard residential rental investment (excluding large-scale tourist rental).

Type of taxation	Usual rate for a non-resident individual
Transfer tax	2.5 – 3 % (Sofia)
Annual property tax	0.1 – 0.45 % of tax value
Waste tax	0.1 – 0.2 % of tax value
Tax on rental income	10 % (often on gross for non-resident)
Capital gains tax	10 %

For investors using a Bulgarian company, corporate income tax is 10% on profit, plus a withholding tax of 5% on distributed dividends.

Local financing: low rates and possible access for foreigners

Mortgage credit is another asset of the Bulgarian market. Mortgage interest rates remain historically low, around 2.5–3.2% for loans in euros, among the lowest in the EU. Mortgage loan balances have increased by about 26% recently, and new housing loans have jumped by over 36% year-on-year, a sign that banks are lending willingly.

Observed best practices:

– for a foreigner, banks generally lend up to €250,000 over 20–25 years;

– loan-to-value ratio (LTV): up to 80% for a finished home, 70% for new construction;

– documentation required: bank statements, proof of income, sometimes life insurance and property insurance;

– appraisal cost: €150–300.

Most lenders require a debt-to-income ratio (installments/income) below 40%. A pre-approval is strongly recommended to negotiate the purchase more serenely.

Short-term rental and Airbnb: a powerful lever, but regulated

The short-term rental market has experienced spectacular growth in Sofia, driven by Airbnb, Booking.com and the rise of urban tourism. Demand now exceeds supply in some segments, particularly small, well-located apartments near the center and metro.

Profitability of an Airbnb in Sofia

Consolidated data shows that a well-managed apartment in tourist rental in Sofia can generate an annual revenue representing about 5% of the purchase price, sometimes more for high-performing properties. This yield is generally over 50% higher than that of a classic long-term rental for the same property.

The characteristics of the Airbnb stock in Sofia in 2025:

– about 1,600 active listings;

– over 93% are entire homes (not a room in a shared house);

– 95% are apartments;

– nearly two-thirds are 1-bedroom, and over 80% are 1 or 2-bedroom units;

– average capacity: 3.3 people.

Occupancy rates vary greatly depending on quality, season, and management:

– median around 46% occupancy;

– top 25% of properties: at least 69% occupancy;

– top 10%: over 85% occupancy;

– low-end: around 23%.

Administrative obligations for tourist rental

Unlike some major European capitals, the city of Sofia remains relatively unregulated in terms of short-term rentals, but this is evolving under EU law impetus. For now, an owner who wants to operate an apartment as tourist accommodation must however comply with several steps:

– register the accommodation as tourist lodging with the municipality (fee of about 20 BGN per bed, one-time);

– declare each stay in the national tourist tracking system (ESTI), via an online interface, on the day of the guests’ arrival;

– pay a tourist tax per night per person, varying by municipality (often between 0.20 and 3 BGN per night);

– register with the tax administration as a self-employed person if the activity is primary, and pay monthly social security contributions;

– pay an annual so-called “patent” tax for tourist accommodation, the amount of which varies by city and size of the accommodation (generally between 25 and 250 BGN per room per year).

When the owner uses platforms based abroad (Airbnb, Booking), they must also comply with VAT rules on the commissions charged (20%).

Management costs and role of specialized companies

Short-term rental is time-consuming if managed directly: check-in/check-out, cleaning, laundry maintenance, restocking supplies, responding to messages, review management, etc. Many investors therefore entrust this management to local specialized companies.

The frequent characteristics of management services:

– fees proportional to rental revenue (often 10% minimum for full management) or a monthly flat fee;

– billing for cleaning, laundry, minor repairs, etc., directly deducted from revenues;

– assistance with administrative and tax formalities (registration, VAT, declarations, etc.).

The platforms themselves charge a commission: Airbnb typically charges about 3% to the host and up to 15% to the guest, while Booking.com charges 15–30% on the host side depending on the promotion level.

For a foreign investor, using a serious local manager is almost essential if they target Airbnb as a main strategy, otherwise they risk multiplying operational risks and compliance errors.

Macro-trends and long-term support factors

Beyond immediate price and yield figures, several structural factors argue in favor of long-term real estate investment in the city of Sofia.

Economic growth and role as a regional hub

Bulgaria shows GDP growth around 2–3%, with slightly higher prospects for the coming years. Sofia concentrates most of this dynamism: the political capital, it’s also a technology and services hub, with a booming IT sector and wages rising faster than the national average.

Unemployment is low (about 4.3%), supporting household solvency and housing demand, both for ownership and rental. Many international companies set up offices there, strengthening demand for apartments for expats, both in the city center and in upscale residential neighborhoods.

European integration: Schengen and future entry into the eurozone

Bulgaria’s entry into the Schengen Area and the prospect of adopting the euro in the coming years are powerful catalysts for real estate. The experience of other countries that switched to the euro often shows a temporary “boost” in real estate prices at the time of transition (10–15% in Slovenia, 13–17% in Croatia, around 4–5% in Latvia).

Infrastructure and metro: a value multiplier

The development of the metro in Sofia is a well-documented factor for increasing real estate values. Neighborhoods served by the main lines, or by recent extensions (for example Slatina), show price increases significantly above the average, with premiums of 10–15% for properties close to stations.

International comparisons (Crossrail in London, networks in Boston, Chicago, San Francisco) confirm that proximity to quality heavy transport (metro, fast tram) leads, in the long term, to a significant appreciation of residential real estate.

Energy transition and renewal of the old stock

A large part of the socialist-era apartment blocks (panelka) is reaching maturity. The need to renovate or replace them constitutes both a risk (for owners of properties in unrenovated blocks) and an opportunity (for operators capable of investing in heavy renovation or reconstruction projects).

– prioritize recent buildings (post‑2010) or already renovated ones;

– or, conversely, deliberately target deeply discounted apartments in old blocks, anticipating a subsidized renovation program.

In the new segment, the supply of certified, eco-designed buildings with efficient insulation and home automation is constantly growing, especially in southern neighborhoods and near Vitosha. These properties, more expensive per m², benefit from reduced operating costs and better rental appeal.

Concrete strategies for investing effectively in Sofia

Investing in real estate in the city of Sofia is not just about buying an apartment in the center “at random.” Between the different property types (studio, 1-bedroom, 2-bedroom, 3-bedroom, house), areas (center, south, outskirts), tax regimes (individual, company), and business models (long-term, short-term, co-living, students), it’s easy to choose the wrong strategy.

Some approaches that emerge from the data:

1. Well-located small units, the heart of yield

Analyses converge: studios and 1-bedroom apartments often offer the best gross yields, whether for classic rental or short-term rental. In Sofia, a well-positioned 1-bedroom (center, Lozenets, Studentski Grad, Mladost) rents for €500–700/month, for an acquisition cost that is still manageable (starting from €80–120,000 depending on the neighborhood).

For an investor looking to maximize their yield, without necessarily aiming for spectacular capital appreciation, this “small unit” segment is particularly suitable, provided the quality of the layout and furniture is good.

2. 2-bedroom apartments in residential outskirts: the best yield/risk balance

2-bedroom apartments in well-connected residential neighborhoods with metro access like Mladost, Krastova Vada, Manastirski Livadi or some parts of Vitosha often offer the best compromise between:

The key is to choose recent buildings, with parking and good quality construction, while staying within reasonable price envelopes.

3. The center for capital appreciation and short-term rental

For investors with greater financial capacity, the center remains the natural ground for a strategy focused on:

– portfolio appreciation (since land scarcity is at its maximum there);

– tourist or business short-term rental;

– or high-end furnished rentals to expats.

With this in mind, it is sometimes wise to prioritize atypical properties (old apartments with high ceilings, character buildings, or even listed buildings) for renovation, rather than already “turnkey” apartments sold at the peak of the market.

4. Investment via a company for non-EU investors and large portfolios

For non-EU investors wishing to buy a house with a garden or land, going through a Bulgarian company is essential. Even for Europeans, creating a company (and being subject to corporate tax at 10%) can be interesting in the following cases:

The trade-off is the obligation of full accounting, annual tax filings, and accountant fees.

5. Consider residency and the migration dimension

An investment of €300,000 or more in Bulgarian real estate, under certain conditions, can pave the way for a long-term residence permit for a non-EU investor, via investment programs. After several years of prolonged residence, the door to permanent residency and then citizenship may open, but over a horizon of about ten years.

For certain profiles (entrepreneurs, digital nomads, retirees wishing to settle long-term), investing in real estate in the city of Sofia is therefore part of an overall migration project, and not just a pure yield logic.

Conclusion: a promising market, but to be approached methodically

Investing in real estate in the city of Sofia today offers a rare combination in Europe: prices still compatible with a medium budget, a fast-growing residential market (prices doubled since 2020), decent rental yields (4–6% on average, more for small units), and a relatively stable macroeconomic environment, supported by European integration and expanding infrastructure.

But this attractiveness comes with challenges:

The key, for a foreign investor, is to: understand the local market well and its specifics.

– rigorously target the neighborhood according to the strategy (yield vs. capital appreciation, long-term vs. Airbnb);

– work with independent local professionals (lawyer, notary, agent, manager);

– and above all, do not underestimate the quality of the property (building, comfort, parking, metro proximity) which, in Sofia more than elsewhere, makes the difference between theoretical profitability on paper and a truly successful long-term investment.