What Drives the Bulgarian Property Market & Practical Advice on How to Invest in It

Written by two of Bulgarian Properties English Representatives - Mr. Adrian Musgrave & Mr. Andrew Willis

Identified some four years ago by the New York Times as a sleeping beauty about to rouse herself, Bulgaria is now very much awake to her potential. With an economic climate attracting property investment from all corners of the world, a dynamic tourist industry set to soon rival that of Spain and a structural development programme on-track for full EU membership in 2007, the Bulgarian success story is evolving daily. Blend all of that with a rich and mysterious cultural heritage, a wealth and diversity of nature that simply takes the breath away and a rural tranquillity hard to find anywhere else in Europe and you have a sense of what makes Bulgaria such an extremely attractive Balkan Beauty.
The past months have seen a flood of media coverage, with a focus upon the property bargains to be found in the towns and cities, rural and village areas, ski resorts and at the beaches. The collective message is that Bulgaria is the place to be and the place to buy, and it’s all true. There are thousands of genuine property opportunities available throughout Bulgaria, and yes - you can buy a house for the price of a second-hand car!

At the forefront of all this activity is Bulgarian Properties Ltd. A Bulgarian real estate agency originally set up to sell rural properties to foreign buyers. Now over two years later they have nineteen offices across the whole country, and can quite understandably claim to be the largest and best known real estate agency dealing with foreign investors in Bulgaria. They sell, manage and build all types of property across Bulgaria. These range from apartments and houses in the mountains and ski resorts, to properties in the countryside and city centre apartments. Of course, at this time of year, the most popular areas of interest are the apartments and houses on the beautiful Black Sea coast.

Travel agents across Europe now boast the Black Sea as a key destination in their portfolios. Holidays to the beach resorts are selling better than ever, and in more countries than ever before. This underpins the long-term future of the area and will ensure a continuing increase in the demand for high quality locations and developments.
There is an increasing demand for quality rental properties. Off-plan apartments in good locations, individual buy-to-let properties and plots of land for development are now available at all the key locations on the coast and are fast becoming the preferred purchase options of Bulgarian Properties clients.

A long-term property investment, though, is of little value unless its potential rental revenue is maximised - and that’s where Bulgarian Properties Ltd continue to carve out their leading role in the real estate industry. In conjunction with their sister company, Property Management BG Ltd, they provide a complete one-stop service, from initial project development to property purchase; from advertising to occupancy management; from key control to premises maintenance; and from payment collections to full visitor services. In fact, 90% of customers buying apartments with Bulgarian Properties Ltd also choose to use their property management services.

Over the past three years, they have developed and implemented global marketing strategies and holiday reservations through Bulgaria’s most popular network of travel websites, and for 2005 they have introduced on-line tracking systems, giving each buyer direct real-time access to the payments, bookings and rental receipts data for their property. This, combined with their original, renowned website, www.BulgarianProperties.com, network of offices and experienced staff, serves only to give their customers, past and present and future, the best possible service available.

For more information on properties for sale through Bulgarian Properties Ltd, log onto www.BulgarianProperties.com, or telephone their head office: +359 2 980 0508