There's no doubt that the success of any country is built on its economy; from tourism to direct foreign investment to employment. Since the fall of the socialist government in 1996, Bulgaria has enjoyed economic stability and strong growth, thanks to sound monetary reforms, responsible fiscal planning and a fixed exchange rate against the Euro - all of which has fuelled the property market. Low inflation and steady progress on the country's infrastructure has also improved its attraction for the international business community with several major blue chip conglomerates opening offices in the country, including; Coca Cola, Intel, Nestle, Citibank and Siemens.
According to the respected CIA Factbook, Bulgaria's GDP has also seen a 6.5% rise. The accession to the EU on January 1st 2007 has also been a major milestone, thanks to easier trade links and the EUR4.6 billion which has now been earmarked for Bulgaria between 2007 and 2009. All of these economic factors are great news for investors, as the country is seeing a sharp year on year increase in the numbers of tourists visiting. According to Amberlambs, an independent online publication featuring expert overseas property investment research, Bulgaria's tourism sector is growing by up to 22% annually and that double digit capital growth is forecast by leading property analysts for the medium term. |
Bulgaria also features highly in a number of leading international league tables with Knight Frank placing Bulgaria in equal fifth place in terms of house price growth potential for 2007 for Europe, whilst the Daily Telegraph rated it 8/10 as an investment option. The online travel company 'Opodo' is also predicting that Bulgaria will be the most popular emerging holiday destination for 2007. They report that bookings to the country have risen by 40% in the last six months and they expect a significant further increase.
Whether you're looking for an investment overlooking a golden beach on the Black Sea Coast, a slick city apartment in Sofia or a mountain retreat in the world class skiing resort of Bansko, Bulgaria has it all - as Pelle Langli, chief executive of Emerging Real Estate explained; 'Bulgaria is simply stunning and has something for everyone, from azure seas to souring peaks. The country is in a unique position as it has enjoyed immense growth in a short period of time. However, if you are willing to take a mid to long term view, of say 5 to 10 years, then the prospects of making a healthy return on your investment look sound.'
All in all, it seems Bulgaria's accessible property market is likely
to prove profitable for many years to come.
Information courtesy of Emerging Real Estate
Full details about the ‘Super Borovets’ project, price
madness in Bansko, golf developments in Bulgaria, and new apartments
in Bansko and
Borovets can be seen at the Bulgaria Properties Ltd web site www.BulgariaProperties.net.
You can e-mail questions to advice@BulgariaProperties.net,
or, if you have no Internet connection, call the company (in UK) at 0871 226
2296 to order a free 30-page hand-out, or just for a chat, if you prefer. They
always have time for you.
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