Bulgaria Boom

Bulgaria has come a long way since its former communist days and today has a stable government committed to economic reform. Ten years on, a healthy economy showing solid, steady growth and now a member of the European Union, Bulgarian Property is one of the fastest-growing and most sought after property markets in Europe.

Bulgarian property offers outstanding investment potential and is now delivering 20% average year on year returns on investment, as rapid tourism growth bolsters the thriving property markets of Bulgaria. According to leading economists and world officials, the property boom is set to last, and natural and economic factors will heavily contribute towards Bulgaria’s significant growth potential.

All in all the future looks bright for Bulgaria and this will continue to boost the Bulgarian property market.

European Union Membership

Bulgaria’s recent accession to the European Union on January 1st 2007 has further increased the confidence of foreign investors wishing to purchase Bulgarian property with record sales recorded in the first half of 2007.

Traditionally, new European Union countries experience steep increases in property values and the corresponding increase in tourism and investment will further boost the Bulgarian property market.

Rapid Tourism

As a result of a booming reputation amongst UK and international tourist industries, Bulgaria’s tourism sector is officially one of the fastest growing tourist destinations in Europe creating a stable buy-to-let environment for investors.

Tourism concentrates mainly on the popular Black Sea resorts and the increasingly fashionable ski locations. The booming capital city of Sofia is now offering outstanding year round growth potential to property investors in Bulgaria.

Close proximity to Europe and increased low cost airlines offering direct routes to Bulgaria from many UK and other European airports, make Bulgaria easily accessible for the property investor and visitor alike. The number of visitors to Bulgaria in 2006 exceeded 5 million for the first time and ‘The World Tourism Organisation’ predicts Bulgaria to welcome in excess of 20 million tourists by 2020.

To support the next phase of growth in tourism, the EU structural and cohesion fund has facilitated the provision of almost 6 billion Euros for key infrastructure projects and with the country dedicating a further 2 billion to motorway improvements future growth is secured.

Bulgaria meets the criteria for real estate investment success:

Significant EU Funding: Bulgaria entered the EU on January 1st 2007 a provision of almost 6 billion Euros for key infrastructure projects future growth is secured.
Property Prices Increasing: Bulgarian property prices are among the lowest in Europe and currently rising and have been delivering 20% average year on year returns on investment.
Strategic Location: Just 3 hours from the UK and easy access from mainland Europe make Bulgarian property easily accessible and a viable property location for investors and property purchasers alike.
Simplified Purchase Process: The transparency of the Bulgarian property purchasing process and easier access to mortgages has increased the confidence of foreign investors across Bulgaria’s real estate sector. A wider range of nationalities are now investing in the country.
Established and thriving tourist industry: As a result of a booming reputation amongst UK and international tourist industries, Bulgaria’s tourism sector has recently become one of the fastest growing tourist destinations in Europe offering unbeatable value.
World Class Ski Resorts: - In recent years Bulgaria has earned a reputation as one of Europe's most popular ski destinations especially for those seeking a cheaper alternative to the Alpine resorts.
Budget Airlines: With the recent introduction of a number of high profile low cost airlines including Easyjet, all indications are that visitors to Bulgaria will continue to increase exponentially on top of the already rapidly growing numbers. Ryanair, Myair and Eurowings have all applied for similar access to Bulgaria and new routes from these carriers are expected to be announced within the next six months.
Summer Hotspot: Bulgaria’s Black Sea Coast is proving a great alternative for tourists looking for an exotic alternative to traditional Mediterranean destinations such as Spain or Greece. The combination of warm sea, pristine beaches and long dry summers at affordable prices will ensure excellent future prospects for property along the 236 miles of spectacular coastline.
International Recognition: Bulgaria is fast becoming the investment capital of Europe with high profile European real estate investment funds active in property market and low corporate tax attracting considerable foreign direct investment and huge institutional investors.
Thriving Capital Sofia: International companies including Shell, Microsoft, Google, Hewlett Packard, Nestle, Porsche, Deutsche Bank, GE Capital, Ernst & Young, Citibank, Coca Cola, Nokia and Siemens have all recently set up offices in Sofia, showing the confidence these companies have in the region.
Political and economic stability: Bulgaria has experienced a consistent increase in GDP growth over a sustained period and economists of UniCredit Group expect a 6.2% real GDP growth in 2007 combined with a 13% increase in GDP per capita.