Attractions of Bulgaria Property

Bulgaria property attractions
When it comes to the exquisiteness of nature, no country can beat Bulgaria and that is one of the captivating grounds that give Bulgaria a top position in the real estate field. The entire area of Bulgaria is rich with mesmerizing natural settings, which makes the overall atmosphere highly enchanting. Considering this fortunate position of the country, who won’t wish to have a piece of land in Bulgaria! Another tempting feature that prompts many people to buy land in Bulgaria is that Bulgaria property is generally famous for its affordability. The low prices when compared to many other countries, with which you can buy land in Bulgaria even in this time of real-estate boom, is truly encouraging for all those, who are interested in real-estates. The highly lively nature of the area and a pleasing cultural side, adds much attraction and demand to Bulgaria property. Most of the beach-areas of Bulgaria are internationally well-known for their extensive excellence and if you can manage to secure an alluring Bulgaria property near one of the beach-sides, it will really fetch you riches within a very short span. Similarly, all the mountain areas of Bulgaria are breathtakingly beautiful and attract lots of tourists from all parts of the world. This makes the hill-side areas of Bulgaria, really attractive in the real-estate market. You can see all kinds of sophistication that you can expect in this scientific age, in the cities of Bulgaria. A marvelous feature of almost all cities of Bulgaria is that you will be able to find plenty of conventional village areas, alongside. This allows you to lead a really balanced life and adds-up the charm of Bulgaria property.

Bulgaria property investing
The budget factor is no more a constraint for investing in Bulgaria property and all types of properties are available in Bulgaria and that too in really affordable rates. As far as mortgages are concerned, you can truly find extremely competitive rates in Bulgaria, when compared to UK and this feature is rightly tempting, to most of the UK buyers. The booming economy of Bulgaria and the great thrust given to tourism are other attractions, which makes Bulgaria property worth considering. Some more added advantages that push-up the value of Bulgaria property are the prevailing excellent climatic conditions of Bulgaria and the nominal cost of living standards. Sofia, the capital of Bulgaria is really a cosmopolitan area and all kinds of life comforts are easily available. Bulgaria also holds some of the top class ski resorts and this makes Bulgaria a highly favorable holiday spot, which add-up the market value of Bulgaria property. Succinctly, even if you consider all relevant points, Bulgaria property is truly worth buying.

Bulgaria property Buying
Buying land in Bulgaria is a straight forward easy process. Anyone who is a legal citizen of Bulgaria can go through all of the normal land buying process which is finding the land, buying the land, and building on the land. This land could be residential, meaning, you want to buy the land to build a house, or agricultural, meaning you want some land to have a house or farm, or it could be a plot of land that comes with a house or it could be for commercial investment. Bulgaria is a wonderful place to own land and invest, and the legalities of the process should not discourage you from doing so. Bulgaria is a country on the move, full of history intrigue, sunshine, ski slopes and the cheapest property prices in Europe, and would be a wise investment in the field of Bulgaria property

Bulgaria Property Market – Are The Renting Options Viable And Realistic?

While buying property for sale in Bulgaria, and especially when it comes to brand new developments, often marketed off-plan, most British investors are “seduced” by the rent out options of 8-10% annually. The truth, however, is yet to be discovered as few Bulgaria property developments can actually boast realistically such percentages, the majority still being quite doubtfull in their proof of viablity. The following text is the first of series of articles exploring the possibilities for renting out in a market where buy-to-let has been unknown till very recently.

The nature of the Bulgaria property market is very dynamic as the market itself is quite young (roughly 15 years old in its present shape) and as the sellers still dictate its bias. Looking from the stand point of the developers and their agents, or simply from the stand point of the home owners, the recent leap of the prices is the major driving force when it comes to whether to sell, build or both. Combining the popular in Britain menatality of investing for renting out with the local desire for quick profits, many sellers and developpers are tempted to promise unrealistic figures. Aside from few regions along the Black Sea coast and in the mountain resorts, the rest of the country cannot offer even fraction of the easily promissed bombastic returns on investment. Looking deeper into the Bulgaria property market, even the Black sea coast developments are dubious and contingent on too many unknowns.

According to International Herald Tribune 18% of all Bulgaria Property sales had been made by Foreign Customers in 2004. Again another 23% of the total sales on the Bulgarian Property Market have been made by foreigners in the year of 2005. Baring in mind those growing figures it is no surprise investors are offered temptation after temptation playing around the probability game for not merely capital gains but in the short run – income from letting.

All politics is local – how about business?

In a bestseller called “Hardball: How the politics is played told by one who knows the game” a famous phrase comes to mind when we talk business in general. “All politics is local” – so is the business, whether you like it or not. So is the property market in Bulgaria- it is driven primarily by local demand and supply and not by investments from overseas. According to RICS the drastic increase of the value of the Bulgaria Property market could not only be attributed to Foreign Investors. The reason is also the increased demand from Bulgaria property owners to replace their old Bulgarian property. However, in the mentality of the Bulgarians buy-to-let is a concept unknown, and what’s more, relatively unacceptable. Finding a Bulgarian that would buy a property and then allow anyone to use it for 3-4 months in the year, to generate profit from letting is quite doubtfull. Furthermore, letting an apartment in the ski resorts or along the Black sea coast was simply unavailable 5-6 years ago, as there were no “apartment hotels” offered for sale by any developer.

So, shall we buy property in Bulgaria or is that merely a giant scum? Answer to those questions will be provided with facts of proof in the next several articles.

Bulgaria Property Investment, it Does Pay to Shop Around

In Bulgaria, every Ivan, Dimitar and Georgi wants to be an estate agent. Doesn’t leave much room for a Nottingham boy with a knack for spotting good land. But with a new avalanche of English property buyers about to hit the market and most of the cash destined for the Black Sea Coast, it’s all business for the agents, but are the buyers getting the most from their Bulgaria property investment?

Why here? It’s not just the good value of the land. Take a walk through a blizzard in Sofia, the capital city, like I did last winter. The snow is falling thick and fast and cars fly past me down the boulevard seemingly trying to break the world land speed record. Realising that I have a free afternoon I turn my head and through the falling snow and over the rooftops I can make out the looming white shape of Vitosha mountain. Let’s time this. Forty-nine minutes later I am looking down on the city with a snowboard attached to my feet flying down the mountain at death defying speed. What a place to live; work in the morning, snowboard in the afternoon. A lazy countryside, yet more rugged mountains and quaint villages lie a few kilometres beyond. Beaches stretch along the coast further out.

Of course there is more to Bulgaria than a few mountains and beaches. The countryside is varied and spectacular, littered with pretty villages. The people are warm and friendly and will invite you to drink a rakya with them, not caring that you don’t speak a word of each others language. On semi-major roads it is not uncommon to see a top of the range BMW overtaking a horse and cart. Eating out in a fresh seafood restaurant is cheap and the fresh fruit you find at road side stalls along the highway is some of the most delicious I have ever tasted. The country is also a major exporter of quality wine.

This mix has become a magnet for discount holiday seekers, and the Bulgarian property dealers – like myself – that follow. The Bulgarians have risen to the occasion, dropping what they’re doing and setting out their stalls to sell any property that they can.

Of course it wasn’t just the hot Bulgarian properties that put me in competition with the locals. On my way back from a reconnaissance in June 2004, I arrived early to the airport to be in plenty of time to reserve my favourite window seat. To my utter dismay there was no window on my aisle and I was lumbered with a ‘wall seat.’ The Bulgarian girl next to me found it amusing, commenting “nice view!” Within 3 months we were living together in Sofia. Three more months and we were married. Daniel Brailsford was born 5 months after that. Fast work.

So I went online with everyone else and found many punters would prefer a cheap little cottage set in beautiful mountains or seaside areas. However, due to decrepit properties that often are worth nothing more than the land they are built on, money may be spent better elsewhere. Many of these rural Bulgarian properties have ownership complications hanging over them to boot not to mention being nigh on impossible to get to during some of the most brutal winter months. It became apparent that new-built developments are a far more sensible Bulgaria property investment.

The capital is one destination many foreign investors are missing. While the coastal market has grown at an unnatural rate, and this may be of concern to the speculator, a capital city is the fairest measure of the true nature of a property market. Bulgaria will join the European Union in 2007. This will further cement stability and lead to further investment on all levels. All this combined and you have the perfect ingredients for steady and sustained urban market growth. It isn’t a bad investment for those willing to up the stakes and gamble on an apartment in the capital, especially new construction.

All things considered, in a foreign country with different laws and language it’s foolish to embark on anything without a good lawyer. English nationals can register a Ltd. company in Bulgaria when purchasing the equivalent to an ‘English freehold’ of land, or property with land attached. The law will change in this respect to bring property ownership in line with other European countries. When land is not part of the parcel – for example when purchasing an apartment – company registration is not necessary to gain freehold of the property. The daring are not finding these things to be much of a barrier.

The tricky thing is finding a trustworthy agent among the crowd, and that is where new investors in the region are stumbling. With my father as a former estate agent now specializing in surveying and having worked for him within the constraints of professional rules and ethics, with a civil engineering degree under my belt and construction experience, I was more than a little shocked at what I found in the Bulgarian property market. Enforcement and good professional associations have not cleaned up the mess that high demand is spurring.

I spent a few months working with a Bulgarian estate agency of questionable ethics and following a failed coalition with some other wannabe estate agents, I discovered anyone can be an estate agent here and have heard various stories of people being considerably mislead. That’s not to say that all agents are sharks, but it does pay to shop around.

Unfortunately there are no numbers, nor a professional watchdog to say how much of this money might find its way into dubious transactions, but English investors might do well to check out their potential agents before leaping into the market. If regulation of the Bulgarian estate profession can be implemented, perhaps through EU accession everyone will be better off. If it all works out, more Britons will be flying the flag in the balmy Balkans, broadening the pool of pub-goers, and just maybe walking with a Bulgarian wife hanging off their arm. The Bulgarian property I can find for you; a wife you have to find yourself.