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Italy, with its magnetic charm, thousands of years of history, art, culinary masterpieces and incomparable landscapes, has long been a dream for many. In recent years, however, an increasing number of Bulgarians have been buying property in Italy, turning this dream into a reality. Foreign buyer interest in the Apennines is growing and our compatriots are turning to certain regions in Italy that offer the best combination of affordability, investment potential and desirable lifestyle. Let’s take a look at what these sought-after properties are and why they attract Bulgarian buyers.
An overview of the interest of Bulgarians in property in Italy
Bulgarians are attracted to the Italian property market for several main reasons:
- EU membership: as EU citizens, Bulgarians enjoy the same rights when buying property as Italian citizens, which makes the process easier.
- Cultural proximity: the Mediterranean lifestyle, cuisine and rich culture are attractive and somewhat familiar.
- From rustic houses and apartments in historic centres to modern villas and waterfront properties.
- Investment Potential: Opportunities to generate rental income (especially from tourism) and capital appreciation.
- Affordable: In certain regions, prices are surprisingly affordable, especially compared to other Western European markets.
Top regions in Italy where Bulgarians buy most often properties:
The interest in buying property from Bulgarians in Italy is varied, but can be grouped into several key regions:
- Northern Italy: Lombardy and the Lakes (especially Como and Garda, but also more accessible towns)
- Why they are attractive: This region attracts Bulgarians looking for a higher standard of living, business opportunities (Milan is a financial and fashion centre) and proximity to natural beauty (the Italian Alps and lakes).
- Property types: apartments in the cities (Milan, Bergamo, Brescia), villas and apartments around the lakes. Prices around Lake Como and Lake Garda are high, but in the smaller towns or inland you can find more affordable offers.
- Attractiveness for Bulgarians: good transport connectivity (Milan has several international airports), high economic potential, opportunities for tourism throughout the year.
- Investment potential: High for long term rental (students, business professionals) and short term rental around the lakes.
- Central Italy: Tuscany and Umbria (rural properties and towns)
- Why they are attractive: Tuscany is the archetype of the Italian dream with its rolling hills, vineyards, cypress trees and medieval villages. Umbria, known as the “Green Heart of Italy,” offers similar beauty at more affordable prices.
- Property types: rustic stone houses (casali), farmhouses (fattorie), apartments in medieval towns (borghi), less often villas. Many of them need restoration.
- Attractiveness for Bulgarians: dream of Italian lifestyle, agro-tourism, cultural tourism. Properties in need of renovation are affordable (€50,000 to €150,000 for larger, unrenovated properties).
- Investment potential: high for short-term rentals (holiday homes) and potential for agro-tourism.
- Southern Italy: Puglia and Sicily (coastal estates and authentic villages)
- Why they are attractive: These regions offer outstanding natural beauty, long coastlines, unique culture and, most importantly, significantly more affordable property prices than the North.
- Property types: apartments in coastal towns, traditional houses (e.g. “trulli” in Apulia, “maserias”), houses in historic centres in need of restoration.
- Attractiveness for Bulgarians:
- Affordability: cheap properties can be found for under €80,000 – €150,000, especially if they need renovation.
- “Houses for 1 euro”: some municipalities in Sicily (Sambuca, Musomeli) and Apulia (Bisaccia) are part of this scheme, which has attracted a lot of international interest, including from Bulgarians.
- Sea and sun: beautiful beaches and a long season for hiking.
- Authenticity: a more genuine Italian atmosphere, away from mass tourism in some parts.
- Investment Potential: High for seasonal short-term rentals, especially in developing tourist areas.
Factors driving the interest of Bulgarian buyers
- Access to the EU market: as EU members, Bulgarians enjoy simplified procedures and equal protection of property.
- Diversification: opportunity to diversify the investment portfolio outside Bulgaria.
- Ownership for personal use and investment: desire to own a holiday home for own use, which is often combined with rental.
- Return: Potential for good rental income, especially from tourism, and capital appreciation over the long term.
- Simplified procedures: despite the bureaucracy, Italian professionals (lawyers, notaries, agents) are already used to working with foreign buyers.
Wanted properties and price levels
Bulgarians are looking for a wide range of properties, but most often these are:
- Apartments: in urban or coastal centres, especially 1 or 2-bedroom.
- Rustic houses/stone houses: for restoration in Tuscany, Umbria, Puglia, Sicily.
- Properties in small towns: because of the atmosphere and affordable prices.
Price levels: range from under €50,000 (for properties under €1 or badly in need of renovation) to €100,000 – €300,000 for renovated apartments or small houses in good areas, and over €500,000 for villas.
Conclusion
The interest of Bulgarians in property in Italy is understandable and continues to grow. Regions such as Lombardy, Tuscany, Umbria, Puglia and Sicily offer a variety of options to suit different budgets and investment goals. Whether it’s a city apartment, a rustic house or a coastal villa, sought-after properties in Italy offer Bulgarian foreign buyers the chance to immerse themselves in the authentic Italian lifestyle, combining the pleasure of ownership with the potential for a good investment. It is always advisable to work with reliable local professionals to ensure a smooth and secure transaction.
This post is also available in: Български
