Bulgarian Property appeals to sports enthusiasts

Assetz News, 28th February 2006

Sports fanatics looking for a property investment project abroad would do well to take a serious look at Bulgaria.

While many of a sporting inclination have previously looked to France for its ski resorts and Spain for its world-class golf courses, Bulgaria is emerging as a genuine competitor by offering high quality opportunities in both fields.

Investment International has said that properties can now be purchased by the Pirin Golf and Country Club and the Lighthouse Golf Resort and Spa, providing enviable views down the fairways of courses designed by Ryder Cup captain Ian Woosnam.

While competition for these plots is likely to be extremely high, investors can instead choose to get their hands on property in the surrounding Black Sea region, where property prices are rising at a significant rate.

According to Investment International, annual increases of 30 per cent are not unfeasible in the next couple of years, meaning that investors can enjoy the stunning scenery and facilities for themselves for a while before making notable profits when they decide to sell.

Incredibly, the Pirin Golf and Country Club is also just three kilometres from the gondola in the ski resort of Bansko, making the area an absolute haven for lovers of both sports.

Bansko has been attracting a huge amount of interest from UK investors in recent months, as hotels and houses spring up near one of Europe's most distinguished ski resorts. As publicity surrounding Bulgaria's bid for the 2014 Winter Olympics grows, Bansko and Borovets are drawing a record number of skiers and this is corresponding with high interest in property investment in the same areas.

There are also off-plan opportunities in both the coastal regions and in the mountains, for investors with an eye for a bargain ahead of Bulgaria's prospective EU accession. Once this is granted, property prices are set to soar, making off-plan investments particularly lucrative.

According to SeeEurope.net, the World Bank has this week released a Country Economic Memorandum (CEM) on Bulgaria's integration with the EU and the world markets, titled "The Road to Successful EU Integration".

While few would dispute that this will be a long and most probably winding road, it appears that the foundations for growth are now firmly in place, with unemployment in decline and overall economic growth matching that of eight New Member States.

The CEM also points to an improvement in investor confidence, both domestically and externally, in recent years.

These are all features that are central to Bulgaria's emergence as an attractive option for property investment and experts are indicating that the stage is now set for a property boom in the years to come.

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