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The Bulgarian resorts are one of the best choices!
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Bulgaria's growing property market has experienced yet another record breaking year of investment, reported news.assetz.co.uk, managed by a group of property investment companies delivering selected UK and overseas property and investment solutions. Around 250,000 homes are expected to be sold and finalized by the end of this year, the article points out. "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. "The article says properties are set to raise 15 per cent more year-on-year, making it one of Europe's highest growth markets.
Property in Bulgaria has never been more accessible and attractive. During the last two years, the volume of the Bulgarian and foreign investments in new developments have been significantly higher than before. During the last year the market segment of luxury estate has changed significantly. In 2004 sale price of exclusive residential property increased with more than 30%. From modest to luxury Black Sea properties - land, apartments, villas, commercial buildings, hotels and homes for sale.
All the explanation of this success for Bulgarian real estate marкet is not only the remarkable for its variety of scenery - beautiful mountains and valleys and a coast with both sandy beaches and dramatic rocky areas. Those rugged mountains and modern Black Sea esorts attract a wide variety of tourists every year. Crossed by historically important routes from northern and eastern Europe to the Mediterranean basin and from western and central Europe to the Middle East. It is bounded by Romania on the north, most of the border being marked by the lower Danube River. The Black Sea lies to the east, Turkey and Greece to the south, Macedonia to the southwest, and the Yugoslav republic of Serbia to the west.
Overseas property investment is more popular than ever, as the UK property market looks to start slowing down, and investors realising the massive potential in property investment, have started to look abroad to continue to gain the same excellent capital growth.This is no different when looking at overseas property investment, or property investment in the UK. It is very difficult to decide when looking at glossy brochures, and the best way to do your due diligence is always to go to the country and check out the location and build quality - otherwise have someone/a company you trust carry out the due diligence.
But there is no reason to be scared of investing in property overseas, and with estimated growth of 10-20% in many countries, just as the UK has enjoyed over the last 3 years or so, it has to be considered by any serious property investor.
We believe that the Bulgarian property market currently offers outstanding opportunities for income and capital growth. There are several reasons for this including expanding tourism, a high growth economy, a currency fixed to the euro and low taxes. Also, the country is attracting massive foreign investment and EU membership is scheduled for 2007. It is expected that the low cost airlines will soon be flying direct to Bulgaria and this will further stimulate demand for property.
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