Investing in Bulgaria

Bulgaria has fast become a property hotspot due to its strong desire to attract foreign investment into its domestic property market. With plenty of variety in the types of property on offer, Bulgaria is a solid place to invest in property.

354km of beaches, nine UNESCO World Heritage sites, three of Europe’s most picturesque ski resorts and a collection of culturally rich, vibrant cities all within a day’s drive of one another – Bulgaria is a land full of diversity and attractions. Property prices remain extraordinarily low while the lifestyle Bulgaria offers is richer than you could have ever imagined.

Since EU membership was granted on January 1 2007, Bulgaria has made good on its promises and potential. - Bulgaria already had much of the relevant infrastructure in place: the Black Sea coast and mountain resorts of Borovets and Bansko had been popular retreats for wealthy Soviet leaders, and so, after a quick tidy-up job, Bulgaria was ready for business. Between 2000 and 2004, Bulgaria increased its tourism volume by over 50%, making it the fastest-growing tourism market in Europe.

Following in the jet-streams off the thousands of package holidaymakers from all over Northern Europe, were the large-scale property developers. They too saw the country’s potential and began marketing Bulgaria as the new low-cost destination for holiday homes and investment property. In the early years of the boom, between 2003-2005, investors lured by the promise of 50% capital gains on an off-plan purchase soon realised that the figures quoted were accurate – prices rose rapidly as more and more people investigated the market.

Bulgaria predicted price growth this year of 10% (rising to 20% in Sofia). This represents a healthy increase, particularly when you consider that a 2 bedroom apartment in the centre of Sofia can be bought for less than €100,000 in many places. So, if you are seeking a solid investment property, a beautiful beachfront home or a sublime ski chalet, Bulgaria is the place to invest.

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