Why Buy In Bulgaria?

Bulgarian Properties - Plovdiv, Article by John Lindley, 26th June 2006

Many people will be spending their holidays in Bulgaria this summer and no doubt a large proportion of them will be considering buying a holiday home or apartment in and around the Black Sea. Decisions have to be made regarding how much to spend and also the cost of mortgages for those willing to take a bigger risk on the more luxurious properties. Added to this is the competition from other countries like Spain, Germany, Morocco and most recently Russia. However Bulgaria has many advantages over its rivals; a faster growing tourist market, stronger economic growth and a realistic chance of stageing the winter Olympics some time in the not too distant future. These factors combined together will probably generate investment for many, many years to come, putting Bulgaria firmly on the map.

For those that live in the UK the idea of investing in overseas property is proving very attractive especially as property in England is still relatively expensive and the expected downturn in prices is arguably not likely to materialize till the end of 2007. Buying property overseas has often been considered a good move, and none more so than Spain. However many now argue that certain regions like Costa del Sol have become saturated with many overpriced properties. Some people also predict that by 2010 there may well be ghost type ‘eldorado villages’ scattered all over Spain.

Many believe that Morocco could be the next investment hotspot. Huge developments are taking off and many celebrities have already bought – the Beckhams, Jude Law and Brad Pitt. However the apartments and villas are definitely not cheap, on average about 180 000 euros. How about Russia? Huge developments have been planned for the fashionable eastern part of Moscow. Prices at present are on average 4 600 euros per sq metre - and that’s off plan! Still there is always Germany their prime minister, Merkel is trying to make it easier for foreign investors and with the World Cup being staged here this summer this might possibly be the trigger for further investment.

However in Bulgaria prices are still relatively low and those considering apartments along the Black Sea may also consider taking a look further inland. The major cities like Sofia, Plovdiv, Stara Zagora, Ruse and Velingrad offer attractive opportunities for a second home for personal use or as an investment. Also these major cities have all the facilities that you would expect in places like Barcelona, Madrid, Berlin, Tangiers and Moscow, and some would argue more. Bulgaria is a very old country with a very rich largely unspoiled landscaped steeped in history and culture. In particular cities like Ruse and especially Plovdiv properties are still relatively undervalued. So when enjoying your holiday in Bulgaria this summer it maybe worth your while to have a good look at whats on offer property wise because Bulgarian properties prices are sure to go up sooner rather than later.

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