I was looking for somewhere cheap in Europe and settled in Bansko, a ski resort situated a couple of hours south of the Bulgarian capital Sofia. I’m living here while I work on Nomad Flights, a flight alerts newsletter for Digital Nomads. Turns out you don’t have to live in Chiang Mai after all to save money! I wanted to write this so other nomads can see what is possible here in Bulgaria.

Within an hour of arriving at Co-Working Bansko two weeks ago I had viewed a one bedroom apartment and agreed to rent it for the grand sum of 300 Lev, which is equal to about $175(or 150 Euros / £135). I also had to pay a deposit of 100 Lev. This apartment is rented by the month so this doesn’t even involve making any kind of commitment.

I had heard talk of such crazy cheap apartment deals in a vlog by Johnny FD. I’m often a little sceptical about such talk about cheap places to live. Was it really possible to find a fully furnished apartment in the EU for less than 150 Euros? Yes it was. I’ve attached a photo here to prove it:

My apartment consists of one large bedroom with a double bed and a large balcony which is handy for drying clothes.

There is also a large lounge which has a small kitchen area with an oven and an electric stove with two hobs. The hallway has a washing machine (smashing the UK custom; yes, we really do put washing machines in our kitchens) and there is also a toilet and shower.

This wasn’t the only apartment either; my landlord has several places at the same price. Ok, so why is it so cheap here and on a par with Chiang Mai prices?

First off, this is a tiny ski town and at the moment it’s summer. There are about 8,000 inhabitants but the town swells up with skiers and snowboarders during winter.bjt just now the only people in Bansko are locals, expats who have bought extremely cheap property (studios go for 15,000 euros here) and about 50 Digital Nomads working out of Co-working Bansko. Therefore there is a lot of surplus accomodation. When I posted in the Co-Working Bansko Facebook group that I was coming to the town I immeadiately received messages from landlords with apartment offers.

Another factor is that sadly the town built too many buildings before the Financial Crisis and so there is a glut of property. It really is a renter’s market. This means the town does also have some unsightly things like hotels that are permanently closed.

Last off, I am definitely at the wrong end of the town for summer as my place is near the ski lifts. I am half an hour a way from the Co Working Space by walking and at the top of a long, albeit gentle, hill. Apartments in the old town where the Co Working Space is situated are a little more expensive but not much more (about 400 lev compared to my rent of 300). I see my location as a positive though as it means I get a good hour’s exercise each day. Also, my home space is far away from my work space so I can have some mental distance and relax more than if I lived right next to the office. Plus the mountain views are amazing!

It’s also fair to say Bansko is not somwhere to come if you want to party ( well at least not in the summer). It’s a great place to go for hikes, visit spas and relax and there are lots of social events at the co-working space but it’s not a hive of nightlife so that also contributes to the low cost.

However, for me these things don’t matter and its perfect for my needs. My apartment is in a quiet building and I feel safe walking back here at night. Bansko is a small place and I’ve not seen so much as a hint of trouble or crime here. It’s a really good place for me to get my head, concentrate on Nomad Flights and live on a very low budget while still being only a few hours away from home. Having a balcony isn’t bad either.