Is Bulgaria the Best Property Investment in Europe?

A couple of decades ago, French property was the top choice for people investing their money; old farmhouses, rustic mountain chalets and slick inner-city pads could be picked up for a reasonable price and the market was growing. As the prices rose, the opportunities for buying low and selling high became fewer and further between, and investors began looking to Spain where the boom in package holidays to the Mediterranean coast meant apartments were being built everywhere and rental potential was high.

Now the Spanish property market has also matured and investors have had to look further afield to find places where money could be made. One of the biggest influencing factors to have occurred over the last decade is the expansion of the EU. This has meant that many countries that previously were a minefield of legal barriers and red tape are now much more open to foreign investors.

The fact that several of the new EU states have already, or soon will be adopting the Euro, has also facilitated property investment, as well as sending out a signal to investors saying that these countries are stable places to invest. The eastern expansion has mean that many exciting opportunities for investors have appeared, and there has been a lot of interest in Slovakia, Poland and the Czech Republic; but by far the most attractive country for property buyers has been Bulgaria.

Perhaps one of the greatest attractions for property investors in Bulgaria is the huge choice of real estate to invest in. Those looking for an inner city purchase will find Bulgaria’s vibrant capital Sofia, an ideal place to invest, but it has been the ski resorts and beach destinations that have been the biggest draw.

Bansko is Bulgaria’s leading ski resort, with the longest slopes in the country and the best snowfall records. The development of state-of-the-art lift systems, combined with a rustic old town with meandering cobbled streets have raised Bansko’s profile and put it on the international ski map, making it a very popular choice with investors and meaning most new developments sell out long before completion. Beach-side developments along the Black Sea coast are in similar demand, due to the golden sands, clean and safe water and excellent value property.

However, nothing lasts forever and like France, Spain and countless other property hotspots, Bulgaria’s time will come and go; but for now, this Balkan country is being touted as the best property investment in Europe, so get in there while you still can.

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.