Holiday Hot Spots: Homes Abroad

People.co.uk, 30th June 2006

BULGARIA is on course to join the European Union next year - and that\'s fuelling a massive property boom.

New blocks of holiday homes are springing up beside the pure white beaches of its Black Sea beauty spots and in mountain ski resorts like Bansko. Prices are rising but still remarkably good value, if you are careful.

CANNY investors should get in quick if they want to cash in on the Balkan beauty that is Bulgaria.

Its popularity as a tourist destination is rising fast while interest in buying homes in the country is growing with the approach of EU membership.

Property here offers the double opportunity of being a good investment and providing a good rental income.

The country is easy to get to with just a two-and-a-half hour flight and cheap fares from a choice of British airports.

Estate agent said: "It's a great prospect for anyone looking to invest their money abroad. Big businesses and holidaymakers will take a growing interest in it once it becomes an EU member state.

"That can only be good for people with property in the area."


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The country has a wide variety of properties, with holiday lets in tourist resorts offering plenty of potential.

Winter destinations, such as Borovets and Bansko, are growing in popularity, while plenty of Brits are buying places in coastal resorts like Sunny Beach.

The special tip is the capital city Sofia in the west away from the coast This is a great investment. Next year it'll be the capital of an EU country. When businesses and their employees start to move there, they're all going to need places to live.

Expect to pay around £38,000 to £45,000 for a one-bed flat in Bulgaria, although if you are willing to renovate - or pick up a countryside home - even cheaper property is available.

TOP TIPS

GET all papers translated and checked by a lawyer with a knowledge of Bulgarian law.

YOU can save thousands by buying a few miles out of town, and the views can be spectacular.


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