Bulgaria Property Investment
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Bulgaria Breaks Property Records With Bumper Year
(Nov 24th, 2005 Article provided by 'Irish Sun')
Bulgaria's growing property market has experienced yet another record breaking year of investment, with around 250,000 homes expected to be sold and finalised by the end of this year.
The figures mark the former Eastern bloc country out as one of the principal growth property markets in Europe. At a time when most countries are seeing the growth of the past few years ebbing away, Bulgaria expects this year to bring a 28 per cent increase on the number of homes sold last year – which had also been a bumper year with 196,000 properties sold.
Bulgaria was also singled out this week by leaders in the real estate market at a major international forum in Vienna. Although investors are set to see prices slightly down this year, properties are still set to raise 15 per cent more year-on-year, making it one of Europe's highest growth markets.
After years of economic struggles in the late 1990s after the country transformed itself into a market economy, Bulgaria has experienced a resurging economic profile. It joined the European Union last year along with nine other countries under strict targets set by the Union. In the past few years, it has seen the economy expand for the first time in years, unemployment fall from highs of nearly 20 per cent and inflation come under control.
Investors are now being encouraged to take advantage of property opportunities while supply is still strong. After an all-time low of property purchases back in 1998 when the number of deals was only 65,179, the market is soaring thanks to foreign investment and the return of the Bulgarian diaspora, who went abroad to seek work during more difficult times.
Bulgaria, together with Romania, holds significant potential in the commercial and holiday real estate sectors, where it is joined by Croatia. These will be the most prospective sectors for the next three years.
Analysts forecast that price growth in the residential sector will slow down and to around 15 per cent next year.
Bulgaria Offers Very Attractive Property Investment Opportunities
(November 2004- Provided by 'novinite')
The World Tourism Organisation placed Bulgaria near the top in terms of tourism growth. In 2003 growth increased by 23% compared to 2002 and the proceeds comprised 13% of the country's GDP. Bulgaria's rising property prices have been greatly influenced by the European Union which has had a tremendous impact already. This will be even greater after the country joins the EU in 2007, if as is expected, it follows the pattern demonstrated by Ireland.
Investors Provident is one of the few companies offering attractive investment opportunities in Bulgaria along the Sunny Beach (Black Sea Coast), Bansko (ski resorts), city centre Sofia, towns of Burgas and Varna, and other growth areas. Properties can be bought for as little as EUR20,000 on the beach front for studios and one beds up to EUR120,000 for 3 beds / 2 bath apartments.
Investors who have never considered Eastern Europe as part of their strategies are now rethinking their moves. 20% to 30% capital growth in a space of just 6 months is a return that will attract novices and professionals alike, and this is just the beginning.
Bulgaria is a cultural treasure trove stuffed to bursting with the ancient monasteries, churches, mosques and Roman and Byzantine ruins, and located in the very heart of the Balkan Peninsula is Bulgaria. Investors Provident have recently launched their investment section on Bulgaria and offers its clients some very diverse and high capital growth investment opportunities.
Since its escape from the yoke of communism, Bulgaria has struggled to join the modern world. It became a member of NATO in 2004 and is due to join the European Union in 2007. With the Black Sea to the east, Romania to the north, Serbia and Macedonia to the west, and Greece and Turkey to the south, it is a country that retains a charming mixture of the old and the new.
The capital of Bulgaria is Sofia. Almost completely rebuilt after the bombings of World War II, its city centre has a weird and wonderful mix of architecture; right down to a yellow-brick boulevard. North of Sofia is the Balkan range, Bulgaria is longest mountain chain, which flows down to the Danube. For the sun and sea, the Black Sea coast offers some of the best in rest and relaxation at affordable prices. The southern section of the coast is home to picturesque bays, spacious beaches, dunes and a warm sea.
There are no words to describe the phenomenal rise in property prices taking place in Bulgaria is tourist areas. Some developers have seen their tourist property complexes rise in value in excess of a colossal 100% in a year! Even if spread across the board, it still averages out to a sizeable capital growth of 35%. But why this discovery after all these years?
Since the collapse of communism in 1989, Bulgaria has been opening itself to the West, and its natural attractions have not gone unnoticed. This is hardly surprising given that Bulgaria offers long sandy beaches, summers of clear blue skies and a warm Mediterranean style sea only two hours flight from the UK. This, coupled with a phenomenally low cost of living, and its transition to a fully functioning market economy has made Bulgaria one of the major hotspots within Eastern Europe. Where else would you get a delicious three-course meal for two with a bottle of good local wine for only €8...
Investors Storm Bulgaria's Real Estate Market
(Provided by 'Sofia News Agency')
There are all needed premises in Bulgaria for the construction of a resort - nice beaches, ski tracks in the mountains, interesting cuisine and landscapes reminding of Toscana and Umbria, Russian Vedomosti newspaper reports.
Just recently another inevitable part needed for the construction of the resort joined the things mentioned above- the quickly developing real estate market, the article reads on.
As compared to the countries from Western Europe and some of Russia's biggest cities the prices of the real states in Bulgaria are not high at all, though recently an upward tendency was marked, the newspaper marks. The article also reports that all investors know that after Bulgaria's EU entry the real state market will see a major boom.
Vedomosti tells the story of the British photographer Anthony Miles, who bought a house in Bulgaria's Black Sea capital Varna for EUR 48,000. After a month he received an e-mail asking if he was willing to sell it for a bigger sum.
Despite the increasing money inflow to the Bulgarian real estate market it is still too little, the Russian newspaper reports. Britons are the ones most interested in purchasing houses in Bulgaria.
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