The National Revenue Agency (NRA) has launched a large-scale inspection targeting thousands of Bulgarian citizens who own real estate abroad. The majority of the focus falls on properties located in neighboring Greece, as reported by “24 Chasa.”
According to the NRA’s latest figures, a total of 4,329 Bulgarians hold real estate across 68 countries worldwide. These individuals will be required to provide documentation proving the origin of their income from the past five years.
Greece has become the most popular destination for Bulgarian property buyers. By the end of 2024, 3,228 individuals had officially declared property ownership there – a sharp rise from just 742 in 2019. The interest spiked significantly in 2022, when over 1,000 Bulgarians reported owning real estate in Greece. That year, the total number of declared properties surpassed 2,200. As of the close of 2023, the figure had grown further to 3,152.
Data from the Bank of Greece show that between 2017 and 2021, Bulgarians invested a total of €127 million in Greek residential properties. The preferred areas include Northern Greece – most notably Halkidiki, the Olympic Riviera, Kavala, Asprovalta, and Thessaloniki.
The NRA noted that it is also relying on data obtained through the automatic exchange of financial information with other countries. This mechanism helps reveal previously undeclared real estate and income from rentals.
Real estate agents in Greece have confirmed that interest from Bulgarian buyers remains high, particularly in Northern Greece. According to their assessments, property prices in Halkidiki are expected to climb another 15% this year. Among foreign buyers who completed real estate transactions in Greece last year, Bulgarians ranked second in number. The majority of these purchases are for holiday properties priced under €150,000. There is minimal interest in new developments, although a few deals have exceeded the €400,000 mark.