Properties for Sale in Bulgaria

As Bulgaria fast approaches its January 2007 date for EU accession the country is enjoying a strong wave of inward foreign direct investment particularly from the US, and significant domestic investment with the government of Bulgaria having invested 20 million Euros directly into infrastructure already.  All this money is helping raise the standards of infrastructure across the country to those of a European nature and adding to the overall long term attraction and appeal of the country.

As a direct result of the strong improvements in Bulgaria, property investor interest in the country is strengthening.  Investors who have seen the dramatic property price increases in the latest countries to join the EU like Hungary, Poland and the Czech Republic realise that Bulgaria too can sustain if not improve upon its current average annual 25% price growth rate in the real estate sector.  Properties for sale in Bulgaria right now make sound investment sense for many people and here’s why…

1) Property prices in Bulgaria are among the lowest in Europe currently.  You can find fully furnished off plan apartments for sale from as little as GBP 35,000, these apartments come with a guaranteed rental income for a fixed period together with projected capital growth rates of around 25% during the 12 - 18month build period.

2) As stated, in the last year to date average price gains across the country have been in the region of 25% and this rate of growth shows no sign of slowing down in the medium term.

3) In terms of letting opportunity you can rent a suitable investment property such as an apartment or town house in Sofia year round, you can let out winter ski properties for up to 10 months of the year in the most popular ski resorts in Bulgaria and you can rent out summer holiday homes on the Black Sea Coast for up 6 months a year.  Many new developments have arrangements with large tour operators meaning that some developments in Bulgaria now come with guaranteed rental yields for a fixed period for the investor which means s/he can purchase an investment property and remain entirely hands off yet still draw down a strong income annually.

4) The attraction of the property market in Bulgaria is now generating worldwide investor interest.  Bulgarians living abroad are among those buying up properties in their former country and Bulgarian developments are being showcased at the world’s main property exhibitions in countries as far afield as the US, Cyprus, the UK and Dubai.

5) Some major financial institutions with overseas real estate investment funds are currently testing the Bulgarian market for inclusion in forthcoming fund allocation.

6) Between 2002 and 2005 average tourism numbers rose by up to 25% in Bulgaria and major tour operators including Thompson and Thomas Cook now offer package holidays to the country.

7) Budget airline carriers are already preparing bids for passage to Bulgaria from the UK with new routes expected to be in place in 2007 when the country has joined the EU.

8) International, expatriate and local mortgages are all now available for properties for sale in Bulgaria, rates are relatively competitive with local lenders’ rates linked to the EURIBOR and projected to drop as Bulgaria aligns for inclusion in the eurozone.

9) Land ownership rights for foreigners are currently under review with new legislation being passed that will allow for direct freehold ownership by 2014 at the latest.

10) Many international real estate companies now not only offer properties for sale in Bulgaria they offer the complete investment package.  They source off plan properties to suit your budget, they arrange for you to give local lawyers power of attorney, you make stage payments throughout the build process and when the property is completed they manage the rental and management of the investment and only ever contact you for your bank details so they can make monthly rent payments directly to you!  Buying property in Bulgaria and profiting from your investment now couldn’t be any simpler!