Focus on... Bulgaria!
In the first of a new series of blog posts we look at overseas property markets, giving you the low down on what you need to know if you're thinking of moving overseas.
In this edition we look at Bulgaria...
It has only been a very short time since Bulgaria opened up its doors to the British tourist and is now a country attracting thousands of British looking to invest in holiday homes.
The country’s previous perception certainly does not live up to the now reality of this growing and beautiful country. This country is certainly a new discovery amongst tourists, not just from Britain. There is a lot more to this exciting and mysterious country that at first one might see. The breathtaking unspoilt scenery, and of course the mysterious Black Sea all captures one’s imagination.
The price of the property itself is enough to be enticed into buying in Bulgaria, but certainly not the only one. From cheap coastal and city apartments to ski resorts, to more up market and glamorous developments there is something affordable for everyone, whether purchasing a holiday home or simply as an investment opportunity.
In its first three months as an EU member, Bulgaria has seen average residential property prices rise by over 9 per cent. According to the National Statistical Institute, the capital Sofia saw property prices rise by over 14 per cent with residential districts such as Lyulin, Mladost and Nadezhda seeing significant increases.
Sofia has become popular with investors due to the strong demand for high quality western style rental accommodation both from the local domestic population and foreign workers. Property prices remain relatively low with one bedroom apartments in the Mount View development located just minutes from the Sofia Business Park and Mount Vitosha available from just £81,675, according to one Bulgarian agent.
Bulgaria enjoys a much slower pace of life with friendly people and it has already established a community of expatriates. Most expatriates are attracted by the weather, the beaches, and the beauty of the country, together with the cost of living and the low prices generally. But Bulgaria also offers a rich history from a friendly people.
In the future Bulgaria could enjoy the same status as Spain or Greece, as Britain’s number one holiday destination. Those who are opting to go to Bulgaria to start a new life will not be disappointed. The young are flocking to the fashionable capital Sofia, which is now becoming a hub for the young and trendy of Bulgaria. Many other tourists are tempted by the main resort centers such as Varna and Burgas, as well as Sofia.
Properties on the black sea are also very popular and considered premium locations. Another attractive feature of living in this charming country is that according to statistics street crime in Bulgaria is rare, and general crimes against ‘the person’ are statistically lower compared to Western European countries. Bulgarians are an extremely warm and welcoming people and those expatriates who are considering Bulgaria to start a new life will be pleasantly surprised by the diverse range of attractions it offers.
It has a rich history and ancient monuments, enticing scenery with outstanding natural beauty and wildlife, as well as its own identity in terms of music, literature, cuisine and general customs. It is uncharted territory at a very low cost of living, and what could be more attractive.
Visit propertyfinder.com to view hundreds of properties for sale in Bulgaria.
For more information and an impartial guide on buying property in Bulgaria, visit Buy Association.
