Bulgarians' Real Estate Investments Reach 59 Countries

Business » PROPERTIES | Author: Diana Kavardzhikova |April 25, 2024, Thursday // 12:45
Bulgaria: Bulgarians' Real Estate Investments Reach 59 Countries Pixabay

Bulgarians possess properties in 59 nations worldwide, with real estate holdings spanning every continent except Antarctica. These holdings include residences on exotic Caribbean islands like Aruba, the Netherlands Antilles, and the British Virgin Islands.

As of 2022, the count of fellow countrymen who purchased real estate overseas reached 2,154, based on data from the National Revenue Agency referenced by "Telegraph". Information for the year 2022 is the most recent available. Declaration of properties for the end of 2023 is currently underway, with the deadline set for April 30th.

By the end of 2022, 599 individuals who declared property abroad had purchased more than one property, and 362 declared rental income from their overseas properties.

Greece tops the list with 2,184 properties owned by Bulgarians, with landlords earning a total of BGN 1,298,894 in rental income in 2022. Germany follows closely, with 171 properties and BGN 2,227,594 in rental income, while Spain ranks third with 159 properties and BGN 1,182,091 in rental income.

Austria and Great Britain have also favored destinations, with Bulgarians owning 113 and 100 properties, respectively, and earning significant rental incomes.

Despite the growing popularity of Dubai, only 29 Bulgarians have officially declared properties in the United Arab Emirates, generating BGN 398,719 in rental income.

Exotic islands remain attractive, with Bulgarians owning properties in Aruba, the Dominican Republic, the British Virgin Islands, and the Netherlands Antilles.

Thailand, with its allure, has only three properties owned by Bulgarians, while properties in Africa, Australia, and Japan are also on the list.

The National Revenue Agency tracks properties owned by Bulgarians abroad, even if not officially declared, through automatic exchanges with EU member states. Residents are required by law to declare rental income from foreign sources in their annual tax returns, providing details of property ownership.

The exact number of properties cannot be accurately provided because one property may be declared by more than one person with corresponding common shares.

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Tags: Bulgarians, estate, properties, abroad

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