According to the October issue of Quest Bulgaria, the specialist English monthly magazine about Bulgaria and Bulgarian property, it’s still possible to buy a spacious family home there with large garden for under £40,000.

The country is also a decent place to bring up children and a place where older people can afford to live as pensions go much further. 

Food is often just a third of UK prices, crime rates are low and even the youngsters are polite.

“Bulgaria is still a good bet,” says Chris Goodall, managing director of Quest Bulgaria. “Prices are remarkably low, money is pouring in from Europe and there’s a sustainable increase in the economy. More and more people are telling us that they are moving here because they feel they’ve been priced out of Britain.” 

While still incredible value-for-money, Bulgarian property prices have been consistently rising for the last five years and are expected to rise even further after anticipated accession to the EU in 2007.

Whereas property prices round the world are increasing by an average of 8.5%, Bulgarian property prices are increasing by a massive 20.5% a year. 

Said Chris: “Invest £40,000 in a property in France and you’ll be lucky to get a ruin of a barn for renovation. But in Bulgaria you will get a renovated, spacious, family home with a big garden.”

But it’s not just property prices that draw buyers to Bulgaria. The remarkably low cost of living means money goes much further. 

A three-course meal in a local restaurant will set you back a mere £2 to £5 although you may pay up to £8 in the capital city…but then you’re really pushing the boat out.

Wine, similarly, is just £1 a bottle, orange juice around 60p for two litres, butter £1.30 per kilo and eggs just 20p for half a dozen. Electricity is about the same as the UK but council tax, or rates, are usually about £80 or less for a four-bedroomed house. 

Despite reports to the contrary, Bulgaria has a low crime rate as the government fights high-level organised crime and corruption.

A survey last year by the country’s Centre for the Study of Democracy found the proportion of people who became crime victims had fallen from 17% to 14% between 2001 and 2004. The number of crimes committed fell by half in the same period. 

Even youngsters don’t carry out vandalism, are polite and never seen drunk, said the magazine.

“It’s a place where the British expats can only stand and stare. It’s like turning the clock back … ‘like Britain was donkey’s years ago’ is a common phrase,” said Chris. “Anyone thinking that Bulgaria will be removed from the list of property ‘hotspots’ would do well to think again. From our view here on the ground, Bulgaria definitely remains a good investment.” 

“You might not find designer clothing in rural towns, big hypermarkets or massive DIY stores but with all the investment those things will come,” he said.

The magazine also has advice for people thinking of investing: decide what you want; watch out when viewing; assess rental income; beware the Internet; get your own lawyer; and get a good translator.