Property Newsdesk Bulgaria

Bulgaria Construction/Real Estate Report

2006-03-05T14:17:00.000-08:00

How long more will the the property boom in Bulgaria last? Is it currently at its peak? What rates of capital growth can it sustain over the next 3 to 5 years? Will the market become saturated, pushing rental prices down? What happens if a crisis causes a mass sellout? Is this likely to happen?

For those considering an investment in Bulgaria these are real questions that most people don't have the answers to and you certainly won't get them from the agents pushing property sales your way.

If you are serious about buying property in Bulgaria you will want to read Bulgaria Construction/Real Estate Report.

It provides an objective overview of the Bulgarian real estate market and will provide all the answers that any borderline investor in Bulgaria might require.

New Development of Luxury Apartments by Solo Properties

2005-08-02T15:38:00.000-07:00

Solo-properties is building a first class development of luxury apartments in Sunny Beach on the Black Sea Coast, Bulgaria. Solo Apartments,is situated at the exclusive Northern end of Sunny Beach with good views,peace and quiet. Situated just a few minutes walk away are restaurants/beach bars and a five star complex. The development will be completed in May 06, The development is an excellent choice as an investment or a holiday home. These apartments come in two sizes the 1 bedroomed apartments are 58.6Sq.M2 and are currently priced at 36,500 GB and the two bedroomed apartments are 73.4 Sq.M2 which are currently starting at 45,000 GB.We are specialist company formed in 2003, with unparalleled local knowledge of the Bulgarian property market.

Solo-Properties can help you with: Full service transaction management, Mortgage Details, Piraeus Bank, Buying a Home, Renting your property Long-term or Short-term.

VISIT www.solo-properties.com OR TELEPHONE 00359-59623688 or telephone local rate UK 08450042030.

The Newsdesk has Moved!

2005-06-21T10:13:00.000-07:00

The Newsdesk has now moved to the new and improved website PropertyNewsdesk.com where you will find the best property information, news and resources out there. Stop by now

My thanks to those who have supported the Newsdesks here at blogger.com and to Google for the fantastic service.

See you at the PropertyNewsdesk.com

Tracey Meagher

Bulgaria Land Acquisition Launches New Fund

2005-06-09T15:53:00.000-07:00

By Tracey Meagher

For those who are interested in profiting from Bulgaria’s buoyant property market but who don’t want the hassle of trawling through thousands of properties deals claiming phenomenal returns, Bulgaria Land Acquisitions might be the answer.

Bulgaria Land Acquisitions is a recently established investment fund formed to acquire and invest exclusively in Bulgarian land. The company, headed by Roland Morris, brings together some of Bulgaria’s most experienced real estate and investment talent, and is forecasting excellent returns. Already, land that was recently acquired by the company has increased from 20 Euro per sqm to 50-60 Euro per sq. metre. Annualised, the gain runs run into 100’s of per cent and that, says Morris is the type of deal that the company aims to achieve repeatedly over the next four years.

Ready to launch via an Isle Of Man company, the company is now seeking shareholders to take advantage of the excellent opportunity this fund offers. Essentially, profits will come back to the Isle Of Man and after that tax mitigation will be the responsibility of individual investors. The company plans to invest in several plots, ensuring diversification and minimising risk.

What kind of returns can those investing in the fund expect? “The directors of the company will benefit only exit, which will be a maximum of four years” says Morris. At that time the directors receive 20% of the profit, but nothing from the investors original input. The good news is that investors get 100% of their original investment back plus 80% of profits! Morris stresses that the fund is set up to severely limit expenditure and it is the company’s firm intention to utilise resources for the full benefit of all involved!

For further information about the fund contact Roland Morris

Bulgaria: Unspoilt Villages, Cheap Property - The Times

2005-05-25T16:00:00.000-07:00

Business: 20 May 2005, Friday.

The Bulgarian property market is among the cheapest in Europe, along with bargain places one can find in Portugal, Italy, Lithuania, Greece, The Times wrote on Friday.

It points out that last year prices rose by about 35 per cent, and in the lead-up to EU accession in 2007 annual rises of 25 per cent are predicted.

Among Bulgaria's advantages the article singles out its rich culture, stunning unspoilt villages and scenery as well as rock-bottom living costs.

"Rural houses for renovation are still widely available for less than 20,000 pounds. The cost of living is low and the climate excellent, and there is a wealth of historic towns, unspoilt villages and some beautiful beaches. Tuscany-like hilltop towns such as medieval Veliko Turnovo are to be found inland, while the ski areas in the Rhodope Mountains in the south are increasingly popular. Rental yields tend to be better for ski properties than those on the coast because of the longer ski season. You could expect about 12 per cent gross yield for a good ski apartment and about half that on the coast.

The Times notes that most Brits are buying on the Black Sea Riviera, especially at Sunny Beach, Golden Sands and Bourgas, and the resort city of Varna.

"An impressive, but affordable, development launched this year is The Garden of Eden, on a prime beachfront location. The development has a marina, five swimming pools and landscaped gardens, bars and restaurants. Properties range from studios to large duplexes. One-bedroom apartments are about 52,000 pounds, with two-beds at 63,000 pounds."

For more information on The Garden of Eden Development visit Bulgariaproperty.com

To download The Garden of Eden Information Pack click here

Super Borovets Project Gets Environmental Nod

2005-05-18T08:10:00.000-07:00

Business: 22 April 2005, Friday.

An expert group of environmental officials has given their approval for the eco-feasibility report of the vast project Super Borovets meant to reconstruct, develop and modernize the popular Rila Mountain resort.

The environmental feasibility report, which defends the preservation of local flora and fauna, precedes the work on the construction draft and territory plans under the project.

The enormous complex planned to encompass the towns of Samokov and Beli Iskar and also the Borovets resort aims to attract investments of about BGN 300 M in the construction of hotels and various types of equipment.

Plans include the construction of a special 7,000-bedspace village, social communication center, entertainment sites, shopping centers, winter sports facilities, swim pools, tennis and golf courses.

Within the projected three zones of construction, as per height above sea level, the ski tracks and lifts will be linked into a common network.

Bulgarian, as well as Italian, Spanish, German and British companies have already shown interest to participate in the Super Borovets project.

The modernization project of Borovets seeks to improve the prospective candidature of Bulgaria for Winter Olympic Games 2014.

Novinite

Major Property Expo Promotes Office Real Estate

2005-05-16T06:53:00.000-07:00

Business: 13 May 2005, Friday.

The office segment will be the focus at the Bulgaria's biggest real estate expo, which opens May 20 in Sofia, forum's consultant Deyan Kavrakov announced on Friday.

The international forum, which is the biggest and most successful platform in the country for presenting the latest products and services on property markets, will take place at Inter Expo Center in Sofia up to May 22.

On an area of more than 4,000 sq.m. Bulgarian and foreign companies will present over 250 products worth EUR 1 B.

The expo responds to the very intensive competition on the real estate market in Bulgaria, said Kavrakov, who is also CEO of ADIS Ltd., Bulgaria's leading full service real estate company.

There is a rapidly growing interest not only towards residential real properties, but also towards business and trade centers, Kavrakov said.

Real Estate Expo gives opportunity to the customer to compare offers by different companies gathered at one place. At the same time it provides good chances for setting business relations between the companies themselves, Kavrakov said.

The US business reacts immediately to attractive real estate markets, and the one in Bulgaria is surely such, explained Valentin Georgiev, Executive Director of AmCham Bulgaria, also a participant in the forum.

The expo will take place under the aegis of the International Real Estate Federation (FIABCI) Bulgaria.

Novinite

Location Location Location

2005-05-15T13:44:00.000-07:00

This property may not be great to look at but it is properties like this that the budget investor looking to buy in Bulgaria should be after! Only 20 km from Varna, one of Bulgaria's largest coastal cities, this property makes a great investment opportunity. Small enough to renovate quite cheaply, it would make a great rental property for those seeking the traditional Bulgarian village experience but while also having access to the thrill of the beach holiday culture! Visit this property and more [some for an amazing €1,500] at BGProperties.co.ukand

So where - and why - are people investing in property?

2005-05-15T12:42:00.000-07:00

A poll of potential overseas investors has shown that almost 40 per cent of respondents would invest in emerging markets, such as Bulgaria, Slovakia, Poland and Croatia, among others.

Beach destinations (19 per cent) were the next most popular destinations for investors' cash followed by existing markets (15 per cent).

The survey reveals that people want to make the most from their money by investing in countries that provide long-term growth and high capital gains.

In fact, more than 25 per cent of the people polled in the research, commissioned by The Homebuyer Show, are buying a property overseas in the hope of making long-term capital gains.

However 21 per cent also intended to use it as a holiday home and others for short-term holiday lets (20 per cent).

The poll also revealed that more than 50 per cent of respondents believed that budget airline destinations are more appealing to property buyers and therefore have greater investment potential.

Other investment plus points revealed by the survey include: becoming a member of the EU (22.41 per cent), the building of new facilities (10.34 per cent), the staging of an international event, such as the Olympics (5.17 per cent), and even extensive media coverage (5.17 per cent).

Bulgarian Housing Market Topping Out

2005-05-15T12:39:00.000-07:00

April 27, 2005
The price of domestic housing units has peaked and will start to taper off in 2006, the National Real Estate Association (NREA) predicted on Tuesday, April 26.

A total of 198,000 homes were transacted in 2004 totalling 3.3 bln euro in value, up 31% over 2003, shows NREA data.

The average Sofia home sells at 600 euro/sq m, on par with the Bucharest market but twice as expensive as Ankara and Istanbul, said Eli Moneva, NREA managing board member and vice president of the Central European Real Estate Associations Network.

Properties in the Doctor's Garden neighbourhood in downtown Sofia have fetched as much as 1,400 euro/sq m, a price command by an average apartment in Brussels. That is a sign that some properties have reached their top selling price, said Moneva.

NREA chairman Orlin Vladikov expects old and pre-fab homes in Sofia and Varna to lose 20% of their current value in 2005.

The combined floorage

of housing units under construction in Sofia is 500,000 sq m, said Vladikov, adding that the domestic real estate market returned between 16 and 18% in 2004.

Commercial and office premises continue to be the most profitable segment. Commercial premises sell at 400 to 3,000 euro/sq m while rant rate vary between 25 and 120 euro/sq m depending on the location.

The sharp rally that Bulgaria's real estate market staged in the past couple of years was aided by the combination of several factors: high rate of return, influx of foreign investment in real estate, easy access to home purchase loans and Bulgarians' enduring desire to own their home.

Realtors expect the price of land plots suitable for construction in Sofia, Varna, Plovdiv and Bourgas to continue to appreciate, driven by the expansion of retail chains and the proliferation of hotel and residential developments along the Black Sea coast. (Dnevnik)

Burgas Airport Opens Charter Season

2005-04-25T05:06:00.000-07:00

Business: 25 April 2005, Monday.

Bulgaria's Black Sea airport Burgas opens its charter season on Monday.

The first group of German tourists coming from Frankfurt is expected to arrive later in day.

The tourism season at Bulgaria's Southern Black Sea seaside will be inaugurated April 30 with 12 charter flights from Germany and UK.

More details on Summer Flights to Bourgas at charterflights.co.uk

House Prices Increase Worldwide, Bulgaria Reaches 31%

2005-04-25T05:02:00.000-07:00

Business: 14 April 2005, Thursday.

House prices recorded an average increase of 8.7% in late 2004/early 2005 worldwide, shows data of the International Real Estate Federation (FIABCI) and ResearchWorldwide.

According to the survey, which monitors 23 countries on a monthly basis, South Africa at 27.8%, Hong Kong 21.6%, Spain 17.2%, New Zealand 16.4% and France 16.0% top the house price annual percentage change list at present. China, Norway, United States, United Kingdom and Sweden complete the top 10 rankings.

Japan and Germany are at the bottom of the ranking with a registered drop in house prices.

For the sake of comparison, Bulgaria recorded an average increase of 31% for a 12-month period (Q4 2003 - Q4 2004).

Ignoring calls for "bursting bubbles" the man-in-the-street continues to demand residential property to buy not only in Bulgaria, says Deyan Kavrakov, President of FIABCI-Bulgaria and CEO of ADIS Ltd., Bulgaria's leading full service real estate company.

Investing in "bricks and mortar" continues to be more attractive than securities and bonds, he adds.

Experts define a deal as speculative when its return on investment outperforms those in mature markets (8-10%) and is at least 30-40 % and more.

There is no bubble on Bulgaria's property market, but due to its stage of development there may be inadequate prices in some segments, Kavrakov comments.

Prices are expected to slow down around 2007, followed by one year of "wait and see" and - as the experience of Central European countries shows - the market starts its own development, positive in most cases, according to him.

Kavrakov forecasts the price increase of residential property to be a double-digit figure in percentage in 2005, but considerably smaller than the previous year.

Novinite

Bulgaria lifts ban on lands sale to foreigners

2005-04-25T04:58:00.000-07:00

Bulgaria, looking ahead to its hoped-for admission to the European Union in 2007, lifted a ban Friday that prevents foreigners from buying land in the former communist country. Bulgaria has already become the focus of a British property buying spree in the last couple of years, rural house hunters finding ways to avoid legislation.
In parliament Friday MPs from all political parties voted for the amendments on land sales in Bulgaria's constitution, bringing it into compliance with EU legislation.
There will be however a seven-year transition period before foreigners who are not permanent residents of Bulgaria at the time can buy land.
"Foreigners and their legal representatives can acquire the right of property over land, under the conditions following Bulgaria's EU accession, under an international agreement entering into force for Bulgaria, or through inheriting it," read the text of the amendment that finally legalized lands sale to foreign citizens.
The Bulgarian press has recently reported on an increasing number of foreigners who have registered companies in the country in order to be entitled to acquire property here despite of the law.
"Fifty British (citizens) have registered companies in Veliko Tarnovo (central Bulgaria) in order to buy a house there," reported Thursday the Bulgarian Monitor daily newspaper.
"Land for foreigners? But they already got it," Sega daily newspaper commented as far back as last November, saying that "until our MPs dawdle, debate and gambol over constitutional changes there will soon be hardly anything to change."
"Legislation indeed was not holding anybody back from buying land here," Paul Kornreich, a real estate company owner, told AFP.
Lead by the concern that foreigners are going to buy cheap agricultural land and use it for industrial purposes, left-wing Bulgarian Socialist Party proposed during debates in parliament that only EU citizens be authorised to buy land and that only if they intend to use it for farming.
The proposition failed to get other parties' support but was widely backed by popular opinion.
A poll conducted by MBMD agency in November showed that 65 percent of a total of 1,216 people surveyed were against land sales to non-EU citizens.
"It might be good for my business but I am absolutely against it. Foreigners are all set to make money out of property bought for chicken feed," said Nadia Zafirova, a real estate company manager from Sofia.
"Most people usually buy land for some bigger project development like building business centres, hotels, malls. Not a single person I have talked to said they are going to buy land to farm it," Paul Kornreich added.
But most real estate agents do not really expect a rise in the number of "property speculators" as they call those aiming only at profit.
"Legislative changes should not be regarded as opening the flood gates to industrial companies, but to ordinary people. If a major buyout of land for industrial purposes was to happen, it was going to happen anyway, despite the ban," Adrian Musgrave, who has already bought a house in Bulgaria, told AFP.
Adrian and his wife settled in the village of Nikolaevo near Sliven in the southeast last September and are now helping other British people to buy what they call "the dream of a rural house with a garden, flower beds and fruit trees everybody is looking for but cannot get hold of in the UK."
"This is heaven. British people would die for this," Adrian explained.
His expectations are that constitutional amendments will spark a wave of "keen property buyers who will buy land to build houses and live here."

Imotibg.com

Bulgarian Property Registration Reforms

2005-04-12T22:49:00.000-07:00

Bulgaria is targeting to complete its reform of the national property register and the cadastre by 2015, when all information currently held among the records of numerous state institutions will be brought together within one system.

The new unified information system which aims to provide “one-desk services”, will include end-to-end profile of the exact boundaries and location of each parcel of real estate, their quality and quantity characteristics, the estate law and restrictions if any on the real estate.

The national cadastre and real estate registration project is being funded by a World Bank loan of EUR 33.5 M awarded for the establishment of a national geo-information infrastructure.

Novinite

Tourism Increases by 50% in Bulgaria

2005-04-12T22:47:00.000-07:00

According to statistics held by the Economy Ministry, over the past three years, the number of foreign tourists to Bulgaria increased 50%. According to the same records, investments in the tourism sector exceeded 500 million Euro over the past five years, with about 90% of private investments being of Bulgarian origin. A rapid increase has been seen in the construction of large-scale hotels at the Black Sea coast and at mountain resorts. This trend is expected to continue.

According to National Statistics Institute figures released on March 10, 2005, more than 7 million foreigners visited Bulgaria in 2004, up 11.9% year on year, of which 4 million were tourists. The largest increases in any one national group included visitors from Ireland up by 81.6%, the United Kingdom 60.5%, and Portugal 60%.

Sofia Echo

Kavrakov: Bulgaria Stands out among Property Hotspots

2005-04-12T00:46:00.000-07:00

Exclusive Interview: 27 February 2005, Sunday.

Bulgaria has recently swept quite a success among prospective foreign home buyers, earning the status of the new property hotspot for those, who can't afford the inflated prices of Spain, France and Italy. To comment the trends and forecast future developments, Sofia News Agency Editor-in-Chief Milena Hristova approached Deyan Kavrakov, CRE, CIPS, CLHMS, CEO of ADIS Ltd., the leading full service real estate company in Bulgaria.

Q: Is Bulgaria a hotspot for foreigners looking for a second home for themselves? Do you believe the trend will carry on like that over the next few years?

A: Yes, Bulgaria's property market is an attractive investment for second-home foreign buyers. This is turning into a steady trend, having in mind the interest by individual buyers and property investors from the United Kingdom, Spain, Israel, to name but a few. We should view the trend as part of the dynamics and trends in second home purchase on the European market as a whole. The traditional hotspots in this respect are the developed markets of Portugal, Spain, Italy and Greece, which are now being joined by Croatia and Bulgaria. They form the so-called Southern tier of Mediterranean countries, where second-home hunters from Central and Northern Europe are heading for. Unlike other countries from this region, Bulgaria has four distinct seasons - winter conditions here are good for skiing and holidaymaking, while the summer is hot. Bulgaria is bound to turn into a hotspot for holidaymakers, which will feed the interest of second home buyers. Bulgaria's upcoming accession to the European Union in 2007 will contribute to this trend, as the country will become its southeastern border, a binding link and a bridgehead to the Middle East.

Q: Which countries are more popular destinations for second home buyers than Bulgaria? Which are the attractions and disadvantages of Bulgaria and Sofia, in particular?

A: Bulgaria's property market is very dynamic, but still could be defined as developing. Ahead of us are countries with mature markets. The above mentioned Portugal, Spain, Italy and Greece belong to the group of countries with mature markets. Bulgaria tries to catch up with them. Our apparent rival is Croatia, whose market is growing from the same staring point and at comparable speed.

As I already mentioned Bulgaria is part of Europe's Southern tier and will benefit from its future, infrastructure projects, economy and market. This is our biggest advantage.

As far as Sofia's attractions are concerned, it is blossoming into a European capital that offers services, logistics, conditions for holiday making and business well up to European standards.

One of its greatest disadvantages is the road system, which should definitely be improved to fit a European capital.

Q: Which are the most popular regions for foreign home buyers in Bulgaria?

A: We can single out several regions on condition that the most attractive are those yet to be discovered and appreciated. The fore-Balkan, starting from the villages of Ribaritsa and Apriltsi, and eastwards along its axis - Troyan, Tryavna, hold tremendous potential - breath-taking nature, preserved customs, clean environment. We should not skip the sub-Balkan valleys, moving southwards to Rila, Pirin and Rhodope Mountains. Sofia has its own pros, with citizens nearing 2 million, it will soon account for 30% of the country's population.

Q: Is Bulgaria's market attractive for large-scale investments in comparison with Central European countries? How does it rank in terms of average returns?

A: It would not be fair to talk about large-scale investments in Bulgaria, whose population totals 7,5 million. We can apply the term fully to the markets of neighboring Turkey and Romania, whose territory, population and consequently demand are much larger.

It is well known that the return on investment makes an investment good. The Return on Investment rates in the real estate sector in Bulgaria reached 18% on average last year, which I consider to be very attractive.

Q: Prices of residential properties in Sofia picked up sharply over the last months. Is it appropriate to expect that Sofia can near prices in Prague or Budapest, having in mind its infrastructure and geographic location?

A: Sofia won't be able to have identical price of residential real estate with Prague and Budapest, just as they won't equal London prices. As an expert, I would divide the question in two. In the short- and medium-term (8-10 years), there will be a difference between prices in Sofia and Prague/Budapest, but then the gap will gradually start to get narrower. In the long term, prices of residential property in Sofia will get closer and more comparable to those in Prague and Budapest. But this will take one more decade.

Q: How would you comment talks that real estate property prices have escalated to the point of almost a speculative "bubble"?

A: I would like to be as precise as possible as this is a widely debated issue. One of the characteristics of a developing market, such as Bulgaria's, are speculative deals. We could define a deal speculative when its return on investment, outperforms those in mature markets (8-10%) and is at least 30-40 % and more. The moment the market gets developed and mature, there won't be many speculative deals. It will take two to three years for Bulgaria to get there.

These should not be regarded as negative trends because speculative real estate investments and deals are part of the business.

It is a different issue that property buyers and investors should first consult well-known experts with long years of experience, practice and references from stable clients to avoid speculative intentions.

There is no bubble in Bulgaria's property market. Due to its stage of development there may be inadequate prices in some categories of residential areas. The increase in prices is expected to slow down around 2007, followed by one year of "wait and see" and - as the experience of Central European countries shows - the market starts its own development, positive in most cases.

Q: What is your forecast for 2005 concerning prices in the different real estate segments - office, commercial, industrial areas, residential property?

A: When the market contains speculative elements and is still developing, no forecast for the rise in prices could sound serious. I expect the price increase of commercial and residential property to be a double-digit figure in percentage, one-digit figure with office and industrial sector. We should follow closely the historical statistics of the Central European countries, especially during the last two years prior to their accession to the European Union.

Novinite

Biodar Real Estate offers a unique service "BUY FROM A DISTANCE!"

2005-04-12T00:44:00.000-07:00

April 12, 2004 - Biodar Launches "BUY FROM A DISTANCE!" Service
Biodar Real Estate offers a unique service "BUY FROM A DISTANCE!", that gives an opportunity to those clients who wish to acquire property in Bulgaria without having to travel the distance. This service is unique for Bulgaria and Biodar Real Estate is the first company to offer it. The service is especially useful for those buyers who wish to buy "off-plan" apartments and are already familiar with the area where the construction works take place (or will take place). Our clients can benefit from lower agent commissions, avoiding travel costs and time saving. The new service is a consequence of our experience with a number of clients, who have already bought property from distance.

For more information please visit Biodar

Property investing in Bulgaria: the pros and cons

2005-04-12T00:29:00.000-07:00

Article by Lorna Bourke, Money Columnist at Citywire UK, 10th April 2005 *with excerpts

With residential property in the UK having peaked for the foreseeable future, investors have been casting around for alternative locations with investment potential, and Bulgaria fits the bill.

Many investors have already spotted that Bulgaria offers very good value for money, with letting potential as a holiday destination. The best investment opportunities include the ski resort of Bansko and the Black Sea resorts of Varna and Bourgas. The capital Sofia is developing rapidly as a commercial centre, signalling that capital appreciation and rental yields should be very strong in the future.
Bulgaria saw property price increases of 35% in 2004 but average yields on rental properties are still 8% to 12% with most investors (80%) buying in the Black Sea coastal resorts and 15% in ski areas. Some 80% are investing in new developments.

For example, studio apartments in the Black Sea resort of Sunny Beach can cost as little as £16,850.

There are good opportunities for both city-centre buy-to-let properties and holiday homes with letting potential, but despite promising returns, investors must be wise to the risks involved of buying in an emerging economy.
Low prices attract purchasers who are keen for a quick-fix solution to pension shortfalls, but as many agents will admit there is no guaranteed resale market in Bulgaria and little existing benchmark for measuring price increases other than more and more investors paying higher prices monthly.
That is why long-term investment are recommend to instant returns.

There is a genuine demand for quality rental properties but written contracts with holiday companies are vital as a means of ensuring a guaranteed yield. Travel agents and tour operators who are no longer enjoying big mark-ups in Spain are looking for higher profit margins in Bulgaria and this does underpin the long-term future. High street travel agents and tour operators do have a substantial number of sun and ski holidays available in Bulgaria today and they are selling well, boding well for future returns for quality locations and developments.

Pinsapo Realty now offering homes in Bulgaria

2005-04-08T15:07:00.000-07:00

Apartment in Sofia €64,000

Pinsapo Realty, leading international property agents based in Spain, announce new affiliation with Bulgaria property agent, increasing potential benefits for investors seeking property in Bulgaria.

International property agents Pinsapo Realty have secured an affiliation agreement in Bulgaria, allowing both existing and potential clients greater options to invest in Bulgaria. Through their locally based affiliate agent, Pinsapo Realty are now able to offer more than 2,000 properties for sale in Bulgaria at excellent rates. These properties in Bulgaria range from €3,000 to the top of the range bracket, from small apartments to spacious new developments, rural properties to the luxurious villas right next to the ski lifts.

Property the fastest growing asset in Bulgaria. In 2003 property prices in Bulgaria saw an overall increase of more than 25%. Some properties increased by 50% in one year, especially in Sofia, the Black Sea beach resorts and ski resorts (mainly Borovets and Bansko).

The improved economic conditions, political and social stability in Bulgaria over the last 3 years have brought to a real boom of Bulgarian property prices. Another important factor for the rising property market in Bulgaria is the country’s large tourism potential. There are many natural attractions, including high mountains, the beautiful and clean Black Sea coast, preserved rural areas, as well as a great cultural and historical heritage.

Situated with their main office in Marbella, Málaga, Spain, their position provides Pinsapo Realty with a unique opportunity of being able to act as a co-ordination and sales centre for international real estate between countries such as Bulgaria, Dubai, Croatia, Russia, South Africa, Spain and the USA. With associate offices in all of the regions mentioned, including their newly appointed affiliate property agent in Bulgaria, Pinsapo Realty are able to promote re-sale and new development properties no matter where they might be.

Should it be an apartment, a villa, a holiday home or investment project you are looking for in Bulgaria (or other countries) Pinsapo Realty is able to offer advice and a wide range of options, securing your international property investment for your peace of mind.

To see Pinsapo Realty's comprehensive Bulgaria property listings, or for more information about their international property portfolio,
visit Pinsaporealty
or call us on
+34 952 898 481

An expat's experience of living in Bulgaria

2005-04-04T05:24:00.000-07:00

In seven years, Konstantinos has not had a single bad experience in Bulgaria, he says.

KONSTANTINOS Soupilas has been living in Bulgaria with his family for seven years and so far has not had a single bad experience.
Because of the nature of his work, he has been travelling a lot, both in the Balkans and in other parts of Europe, but likes to think of Bulgaria as his second, if not his first, home.
His son, Dimitris, is six years old, has lived most of his life in Bulgaria and is rather fluent, even to native-speaker level, in Bulgarian.
“When they ask him what his name is, he replies ‘Mitko’,” Soupilas said.
He came to Bulgaria seven years ago to work as an adviser to the Bulgarian Government on cross-border PHARE programmes between Bulgaria and Greece but had been visiting the country on and off for several years before that.
“When I first came to Bulgaria, I did not know much about the country, even though I come from Thessaloniki, which is not that far away,” Soupilas said.
Even though Bulgaria is quite different from Greece in terms of climate, architecture, the sea and the mountains, both Soupilas and his wife were pleasantly surprised by the country.
He finds the differences between the countries quite stimulating. “It has happened that I left Thessaloniki in 18 degrees C and arrive in Sofia at minus 2,” he said. “In summer, though, when it is very hot in Greece, it is cooler and more pleasant in Sofia. So I think that it is a very good combination in many aspects.”
It is really hard for Soupilas to remember what was the first thing about Bulgaria that surprised him but one clear memory is the snow, when he arrived in Sofia in January.
“I was not used to the snow, although I was living for a long time in France and Brussels, but I was not used at all to such snow,” he said. “To me it was a shock to have so much snow so close to Greece.”
Another thing that really impressed him was when he visited Bulgaria for the third time, which happened to be on the first day of March. “As I was crossing the border, there was a group of people going from one side of the border to the other, giving martenitsi to people,” he said. “I was really impressed because we don’t have this in Greece. I remember hearing something about this when I was a child. And then on the next day when I go to the office, I was almost attacked by co-workers who were trying to give me martenitsi. I found this something really special because it also has a pagan approach and brings good health and is very traditional,” Soupilas said, smiling and showing the martenitsa on his wrist. “And because it was spring I have very fond memories of this.”
He could not remember what was the first word he ever learned in Bulgarian, but said that his knowledge of Russian helped him a lot in learning the language.
“I did not know for how long I was going to stay in the country but I really wanted to learn the language,” he said. “I even took some lessons and now I can understand almost everything and talk to people. What gave me lot of trouble to learn was “s udovolstvie” but the first words I learned were “smetkata” and “menuto” because I needed food from the very first day I arrived.”
The knowledge of the language helps him a lot in his travels, both on business and with his family and there are very few places in Bulgaria he has not been to.
“We like to spend our weekends in places like Arbanassi and Kovachevitsa and in Bansko,” he said. “We love the mountains a lot, particularly the Rhodope mountains between Smolyan and Kurdjali. There are places that are really unique and we like going there again and again. The Trun region for instance, near the Serbian border is very wild and beautiful.
Soupilas said he thinks that Bulgaria has changed a lot in these past seven years.
“People smile a lot more than back then,” he said. “You feel that there is another open side of the Bulgarians, which you see more. Of course, outside big urban centres like Sofia, Varna and Plovdiv, there are still a lot of things that have to be done and life is not easy.
“But what I have observed from the beginning is that the Bulgarians take a long time to understand you and to observe you but once you gain their confidence, they are yours,” he said. “From the very beginning I came with a lot of respect for the people and their traditions, because I think that this is the only way to learn more. I must say that because of this, I have received a lot of respect and got many friends. This is the important thing and I have discussed it many times with expatriates - we have to understand that here we are guests and we have to understand the momentum of the country, the circumstances, the tradition, because the easiest thing is to come and take a certain model and start saying ‘I don’t like this and I don’t like that’. The important thing is to understand what is happening and why things and people are like this.”
Another striking thing about Bulgarians and Bulgarian is that there are many common expressions, idioms and slang with Greek, even though the languages are totally different. “And people have a similar way of thinking,” he said. “The sense of humour is very close as well.”
Soupilas said that apart from the climate and the geography, Greeks and Bulgarians have more things in common than differences. “And there is definitely one common future within the European family and when Bulgaria joins the EU, Greece would have for the first time a common border with another member state,” he said.
Soupilas said that unlike in Greece, Bulgarians tend to celebrate their traditions a lot more. “I went to a Trifon Zarezan celebration once and I was impressed,” he said. According to him Bulgarians don’t celebrate name days as much as Greeks do, even though they observe certain traditions connected to those name days, like St. Theodoros (Todorov Den) and St. Atanassios (St. Atanas). “I realised that there is a lot of tradition behind some of the name days, while in Greece the most important thing is to congratulate the person on the name day,” he said. “Here people get more upset if you forget them on their birthday.”
Soupilas said that living in Bulgaria has changed him a lot. “This is a very dynamic period in my personal and professional life,” he said. “I think that Bulgaria has become a part of my life and I will come back when I have the chance. What I will miss would be that period of my life. Bulgaria is a part of my life and sometimes I regret that I did not try to by an apartment or a piece of land so that I have a point of reference to come back to.”

From The Sofia Echo 28/03/2005

Luxury Property for sale in Varna Bulgaria

2005-04-04T02:16:00.000-07:00

Luxury House 12km from Varna €72,000

These fantastic houses are being constructed right now! Located just 12 km from Varna, these twins houses are situated in the village of Priselci, an area known for it fresh clean air. Each building is up area 143 sq.m. and includes 3 bedrooms , 2 bathrooms and 2 WC , kitchen and living-room, and a big veranda. It is possible to have the options of a BBQ area ,a swimming-pool professionally landscaped gardens and a garage. Each house has a 400 sq.m. garden area.

For more details visit Summerfield Properties

In the News : Go-Ahead for Sofia's Most Luxurious Resident Complex

2005-04-01T12:11:00.000-08:00

Lord Anthony St John of Bletso (C), chairman of the Investment Committee of Equest, launched the construction works of Sofia's most luxurious resident complex Embassy Suites.

The first sod of Sofia's most luxurious resident complex Embassy Suites was dug up Thursday in the presence of many journalists, partners and representatives of the investors.

The main investor in the major project, Immofinance, is a subsidiary of Equest investment fund.

Lord Anthony St John of Bletso, member of the Lords' Chamber and chairman of the Investment Committee of Equest, along with the other participants in the official ceremony signed a special Massage to the generations, which was laid in the foundations of the Embassy Suites.

Embassy Suites is an exclusive gated community project of Immofinance and full service real estate company ADIS Ltd. The complex spreads on a 16 000 sq m land plot in the skirts of the Vitosha Mountain in Sofia.

It consists of 2 areas: Park Zone (4-storey residential buildings) and City Zone (8-storey building, comprising 2 000 sq m of retail space and six residential floors). The area of the apartments is between 99 sq m and 250 sq m, all standing out with its elegance of architecture and luxury finishing.

The habitants of the 80 apartments in the complex will be served by the commercial area with its bank office, restaurant, coffee bar, hairdresser, dry cleaning, video store, and a fitness hall.

The primary focus of Immofinance, the main investor in the project, is investments in real estate property and work in the field of tourism, recreation and rehabilitation as well as strategic partnerships with international financial institutions and property development companies. The company was founded in 2004 in affiliation with Equest Investments Bulgaria Ltd. by a team of experienced real-estate investment and banking professionals.

Immofinance is partnered in this project by Bulgaria's leading full service real estate company Domestic Diplomatic Properties Agency ADIS Ltd.

Livel EOOD, which has 15 years of experience, was chosen to be the constructor of the major project.

Novinite

Bulgarian Mortgages

2005-03-30T22:47:00.000-08:00

Mortgages in Bulgaria were until recently virtually unheard of and becasue of Bularia's reputation for having a legal system that can make it difficult for purchasers to establish title over their chosen property, mortgage lenders weren't exactly queing up to hand out the finances.

Mortgage Shop have confirmed that through their exclusive connections they are able to offer Bulgarian Mortgages, this includes Bulgarian residential property. Like many opther European countries, Bulgarian funds are not available if the property is a flat or an apartment being currently built Bulgaria, until completion and the flat being legally registered in your name prior to the release of any funds. What this means, is that buyers have to source funds elsewhere for the initial staged payments.

This will also apply for a house or villa being built however if the land is already purchased and registered in either in your name or in a Bulgarian Companies name that you are a legal owner of then stage purchase payments may then be available on a drawdown basis to construct the property.

All loans are arranged with overseas lenders, mostly from Bulgaria itself, loans are available for the majority of nationalities for either House Purchase or re-financing / Remortgaging for purposes including Home Improvements / Renovations.

The minimum load amount £40,000, however there is no Maximum, the maximum loan amount is 70% of valuation or purchase price, or whichever is the lower of the two figures.

Mortgages in Bulgaria are only available on a Repayment / Capital & Interest basis.

Further details at European Mortgages

Buying Property in Bulgaria : How to Avoid Making A Bad Investment

2005-03-28T02:36:00.000-08:00

Where is it possible to buy a property on your credit card? Bulgaria, of course! With thousands of potential property buyers seduced by Bulgaria’s bargain property prices, the temptation is to think that making a solid return is a no-brainer! Searching the Internet, dozens of articles and property websites boast about the 100% capital growth that can be achieved on Bulgarian property investments in the space of 12 months.

For first time investors with small budgets looking for a step onto the property ladder, this seems like an opportunity almost too good to be true! The result is that thousands of novice speculators and second homebuyers are flocking to Bulgaria to cash in on the investment opportunities it offers. But as the saying goes, if it’s too good to be true, well then, it probably isn’t.

Property prices are rising significantly but largely in the more established and more desirable tourist hotspots. Investing along the Black Sea coastline and areas within 10km of the two major ski resorts, Barovets and Pamporovo, is likely to yield a healthy 60-80% capital growth in one year. Buying a new apartment in these areas can cost as little as €30,000 and is likely to be solid investment, since they can be easily let to the increasing number of tourists coming to experience the delights of Bulgaria.

A quick trawl through the Bulgarian real estate portals and you’re likely to find 100’s of properties under €15,000. With prices like this, the temptation is to rush in and buy, sometimes without even seeing the property. It is wise not to be carried away by the prospect of a property at this price doubling its value in one year. The problem with many of these properties is that they tend to be located in Bulgaria’s most isolated and rural areas. These areas are often weak on infrastructure and services and may lag behind the rest of Bulgaria for many years to come.

Investing in Bulgaria’s more established locations, such as Varna, Sofia or Barovets, may seem more expensive for the budget investor. But when you consider the headaches and additional expenses that come with renovating an old property in rural Bulgaria, as well as the language difficulties, your budget buy could prove not to have been such a bargain after all! Also, these properties could very well be difficult to rent. Although Bulgaria is growing in popularity with eco-tourists, this tourist sector has not taken off to the same extent as the more traditional ski or sun holiday destinations.

Consequently, the likelihood of property prices rising as dramatically in isolated areas is very slim. Even if property prices take a huge leap upon Bulgaria’s entry to the EU in 2007, the chances are that they will increase in rural areas by 15-30% at most.

The situation is similar in Spain and makes a good example. Though Spain saw property prices increase by over 100% on joining to the EU, it is still possible even now to find properties in the most isolated, inland areas for as little as €35,000. These areas are only now gaining the interest of property buyers priced out of Spain’s more desirable locations.

The situation will be similar in Bulgaria. Tourists will flock to the ski resorts, the Black Sea coast and the more popular mountainous regions. Consequently, developers will continue to invest in these areas. New developments will attract more buyers and more tourists and the areas will see continued capital appreciation on investments. Isolated areas, lacking amenities and services will be overlooked and property prices in these areas will remain significantly lower than the rest of Bulgaria.

For intrepid investors willing to take a long-term view on their investment and wait 15 to 20 years to see significant returns, then cheap isolated properties may be worth considering. But the certainty of a return and the ability to approximate what that return will be is far more likely with properties in the more established Bulgarian destinations.

Copyright PropertyAuthors 2005. Free ebooks and articles at PropertyAuthors.com

Beware Cheap and Nasty Bulgarian Dream : A Response

2005-03-27T01:25:00.000-08:00

A response to Rosie Murray-West's article : Beware Cheap and Nasty Bulgarian Dream : Daily Telegraph 26/03/2005

Rosie Murray-West might well have entitled her article in the Telegraph yesterday, “How Dare you Wealth [ier] Brits Take Advantage of Poor[er] Bulgarians”. The article takes exception to the large number of British planning to buy property in cheap Bulgaria, a country she claims potential buyers know little about … except of course that the property is cheap!

The author appears to be most irked by the fact that foreigners are driving up property prices. Ok, ethically, this has implications. Those living in Bulgaria on low wages will be priced out of the property market in their own country, particularly if they live in the areas more popular with tourists. But this type of gentrification is happening all over the world, not only in Bulgaria. It’s the consequence of the ‘pension-in-a-property’ boom. One of the consequences of this is quite often renewed interest in rural areas, 20-50 km outside larger cities, areas that otherwise would remain neglected.

The situation was the same for Spain two or three decades ago. With the rise of the foreign holiday as a luxury the masses could afford, Brits began to flock to sun soaked Spain. Their interest promoted an influx of developers who took advantage of Spain’s popularity with tourists and built affordable holiday homes. This encouraged many of the tourists to invest in their own little piece of paradise, with the advantage of being able to extend their own stay and encourage others in by letting their proeprty. The result over the years was a continuing rise in property prices but also a strengthening tourist economy, a well-developed infrastructure and growing opportunities and financial benefits for native Spaniards.

Property prices in Spain are now so high that Brits are forced to look for cheaper alternatives. In turning to Bulgaria, the cycle will begin again. In fifteen to twenty year’s time, the Bulgarian property market may well be over-priced for second home buyers and once again the search will begin for new and cheap destinations. In the mean time Bulgaria will have grown on the strength of its EU membership. It will have pumped millions of Euros into improving infrastructure. Tourism will have generated huge amounts of wealth for the economy and the poverty that characterises the country now may well be very much a thing of the past!

Should all investors and second-home buyers follow Rosie Murray-West’s logic and choose not to invest in Bulgaria because it is ‘tasteless’ to take advantage of the poverty there, Bulgaria may well remain a neglected and overlooked economy, characterised by deprivation and stunted economic growth.

Tracey Meagher
PropertyAuthors.com

Apolon Complex : Desired Piece of Heaven on the Black Sea Coast

2005-03-25T10:03:00.000-08:00

Apartment for Sale Nessbar €50,464

Apolon Complex: Desired Piece of Heaven on the Black Sea Coast

The Apolon complex is an enchanting new complex and remarkable project of one-, two-bedroom apartments and studios, which will be situated in the Nessebar summer resort, only 80 m from the awesome white-sand beach and blue sea waves.

The first type of apartments we provide in the complex are two-bedroom apartments. They have two separate bedrooms, bathroom + WC, living room, kitchen and balcony. The average size of such kind of apartment is 70÷90 sq. m.
We offer as well one-bedroom apartments, which consist of living room with small kitchen and separate bedroom with bathroom + WC. They are of size 45÷65 sq. m.
Third kind is “Studio” type, which is a room of about 30÷38 sq. m, with a balcony, kitchenette and bathroom + WC.

PAYMENT PLAN
The Apolon complex apartment prices will be due in four instalments as follows:
- minimum 30% of the asking price when reserving your apartment and signing of preliminary contract;
- 30% when the complex is on further stage /percentage and date – negotiable/;
- 30% when the complex is on further stage /percentage and date – negotiable/;
- 10% when the apartment ownership right is transferred to the buyer.

Visit ICBPROPERTIES for more details or contact by email

Bulgaria Offers Very Attractive Property Investment Opportunities

2005-03-25T01:38:00.000-08:00

Since its escape from the yoke of communism, Bulgaria has struggled to join the modern world. It became a member of NATO in 2004 and is due to join the European Union in 2007. With the Black Sea to the east, Romania to the north, Serbia and Macedonia to the west, and Greece and Turkey to the south, it's a country that retains a charming mixture of the old and the new.

The capital of Bulgaria is Sofia. Almost completely rebuilt after the bombings of World War II, its city centre has a weird and wonderful mix of architecture; right down to a yellow-brick boulevard. North of Sofia is the Balkan range, Bulgaria's longest mountain chain, which flows down to the Danube. For the sun and sea, the Black Sea coast offers some of the best in rest and relaxation at affordable prices. The southern section of the coast is home to picturesque bays, spacious beaches, dunes and a warm sea.

There are no words to describe the phenomenal rise in property prices taking place in Bulgaria's tourist areas. Some developers have seen their tourist property complexes rise in value in excess of a colossal 100% in a year! Even if spread across the board, it still averages out to a sizeable capital growth of 35%. But why this discovery after all these years?

Since the collapse of communism in 1989, Bulgaria has been opening itself to the West, and its natural attractions have not gone unnoticed. This is hardly surprising given that Bulgaria offers long sandy beaches, summers of clear blue skies and a warm Mediterranean style sea only two hours flight from the UK. This, coupled with a phenomenally low cost of living, and its transition to a fully functioning market economy has made Bulgaria one of the major hotspots within Eastern Europe. Where else would you get a delicious three-course meal for two with a bottle of good local wine for £8?

The World Tourism Organisation placed Bulgaria near the top in terms of tourism growth. In 2003 growth increased by 23% compared to 2002 and the proceeds comprised 13% of the country's GDP. Bulgaria's rising property prices have been greatly influenced by the European Union which has had a tremendous impact already. This will be even greater after the country joins the EU in 2007, if as is expected, it follows the pattern demonstrated by Ireland.

Investors Provident is one of the few companies offering attractive investment opportunities in Bulgaria along the Sunny Beach (Black Sea Coast), Bansko (ski resorts), city centre Sofia, towns of Burgas and Varna, and other growth areas. Properties can be bought for as little as £20,000 on the beach front for studios and one beds up to £120,000 for 3 beds / 2 bath apartments.

Investors who have never considered Eastern Europe as part of their strategies are now rethinking their moves. 20% to 30% capital growth in a space of just 6 months is a return that will attract novices and professionals alike, and this is just the beginning.

For further information, please visit Investorsprovident

MyBulgaria launches Property Rental Section

2005-03-24T16:16:00.000-08:00

The Leading Online Information Portal for and about Bulgaria mybulgaria.info has Recently Launched New Services for Those Interested in Property in Bulgaria

Apart from the existing sections where people can browse nearly 3,000 currently available Bulgarian properties for sale there is now also a Bulgarian Property Rental section with more than 100 available properties and an Off Plan section where users can view nearly 400 new Bulgarian property developments for either investment or holiday home purposes.

In addition to this there are comprehensive directories of Bulgarian Real Estate Agents and Lettings agencies and a guide to Bulgarian businesses based in Varna. This service is due to be expanded to other major regions of Bulgaria in due course.

There is no doubt that My Bulgaria now has more property for sale or to let available in its pages than any other site on the internet in addition to comprehensive advice about Bulgaria as a country, its traditions and its culture.

The Bulgarian property market has already witnessed some dramatic price increases in the last two years but even now property values remain lower than in neighboring countries and certainly much lower than the traditional hot spots of Spain and Portugal for example.

The market is still in its early days and it is likely that further attractive gains will be made leading up to the envisaged accession of Bulgaria into the EU in 2007 and also at a more moderate pace following as the infrastructure of the country slowly improves.

There is exceptional value in particular to be had away (if only slightly away) from these areas where both newly built or pre-existing housing stock can be purchased for substantially less and for as little as EUR 10,000. These types of property are tending to be purchased by families either for retirement or full time living purposes or by holidaymakers who are not so particular about having to be on top of the beach or ski slopes.

2005-03-23T06:25:00.000-08:00

Another bargain property from Stara-Planina for only £8300

Being only 20 km from the beautiful University town of Veliko Turnovo, this property is a steal! Three bedrooms, two stories, 1800 sq m of land and set within a village. This one has plenty of potential but like most of the rural homes in Bulgaria, it doesn't have a bathroom ... priority number 1 for whoever buys it!

View more properties at stara-planina.com

Why are Bulgarian Property Prices Increasing?

2005-03-23T04:56:00.000-08:00

Excerpt from an article at imotibg.com

The Bulgarian real estate market is yet another free, unregulated market, where the mechanisms of supply and demand command the movement of prices up- or down-wards.At the same time, the real estate market has some specific characteristics, which make it a unique market: lack of sufficient information; a reaction lag as compared to the other sectors of the economy; non-standardised product; lack of mobility of properties, as well as, buyers and sellers; limited number of transactions in one’s lifetime.Therefore the smooth mechanisms of the free market economy would be influenced by all of these factors and should be taken into consideration when analysing the property market.

Any student in economics would tell you that prices rise when either supply shrinks or demand increases.What has happened on the Bulgarian real estate market this year?Both supply and demand have grown significantly with demand outpacing supply and therefore leading to higher sales prices.

What is more interesting is what has caused demand to grow at such pace and incur such media coverage? The size of the population, disposable income of the population, availability of mortgage credits and government actions can influence demand for residential properties.

The overall population of Bulgaria has been decreasing slowly in recent years, but at the same time the poor economic conditions in the countryside have forced many Bulgarians to move to the bigger cities and especially to the capital.This has led to an increase in the number of potential buyers of real estate in Sofia and the bigger cities. As a result the real estate market has been most active in these markets and is expected to continue to be in the short and medium term.

To read the full article visit Imotibg.com

Bulgaria lifts ban on land sales to foreigners

2005-03-23T01:32:00.000-08:00

Bulgaria, looking ahead to its hoped-for admission to the European Union in 2007, lifted a ban Friday that prevents foreigners from buying land in the former communist country. In parliament Friday MPs from all political parties voted for the amendments on land sales in Bulgaria's constitution, bringing it into compliance with EU legislation.

There will be however a seven-year transition period before foreigners who are not permanent residents of Bulgaria at the time can buy land. "Foreigners and their legal representatives can acquire the right of property over land, under the conditions following Bulgaria's EU accession, under an international agreement entering into force for Bulgaria, or through inheriting it," read the text of the amendment that finally legalized lands sale to foreign citizens.

Read the rest of this article at ProeprtyBG

Buying A Dream Home in Bulgaria

2005-03-22T08:25:00.000-08:00

Dream Homes in Bulgaria

We're right in the middle of preparing a bumper CD Magazine all about buying a house in Bulgaria.

Dream Homes in Bulgaria is annual CD publication packed with features and reports to help you with your investment in Bulgarian property. The magazine showcases hundreds of properties starting from below €5000. We profile all the major property hotspots, from the Black Sea Coast, to the beautiful mountain regions to the ever popular ski resorts. We also provide abundant legal, financial and cultural advice relevant to those investing and those seeking a new life in this spectacular country. Dream Homes in Bulgaria is the number on publication for property in Bulgaria.

Watch out for news of Dream Homes in Bulgaria on the blog here in May. If you want to be informed when Dream Homes in Bulgaria comes into stock, register your details at our free ebook website here

Issues to consider when buying a property in Bulgaria.

2005-03-21T14:11:00.000-08:00

The Property may be cheap, so cheap that "Even My Cabbie's' Got One'! So ran the headline in the financial times property special at the end of last year.

Sure enough the property is cheap but getting there is not. Bulgaria isn't yet serviced by budget airlines, so you can't take advantage of cheap flights to get to your cheap property. In fact, flying over a few times a year, along with the family could prove prohibitively expensive. The cost of flights is a seriuos consideration for the low-budget investor.

Nor does Bulgaria have a completely open property market when it comes to foreign investment. Buying a property in Bulgaria involves eastablishing a limited company. This is more of an inconvenience than anything else since it is not very expensive to set up the company. There are efforts in motion to change this but it hasn't happened yet!

Just a couple of issues to consider when buying in Bulgaria!

Cheap Property in Bulgaria. How Cheap?

2005-03-17T00:00:00.000-08:00

How about €3900

I found this house while browsing on stara-planin.com for an amazing €3,900. Okay, so it's rural but it doesn't need too much work and as well as having three rooms in the house, one of them very big, it's got a big basement and outbuilding. And the price includes the furniture, though I suspect you might want to replace it!

I'm still amazed when I find properties as cheap as this! Visit this one here

Capital Appreciation - Doing the figures

2005-03-16T07:42:00.000-08:00

Just as an appendage to my previous post, I found this piece of information on Balkanskichalet.com

"Property prices on the Coast and in the ski resorts have increased by 40% in the 12 months to April 2004. Forecasters expect prices will continue to increase at 20% to 30% annually until 2007 at least (the year of EU accession for Bulgaria)"

Doing the figures on a house bought for €35000...your investment after three years averageing 25% capital appreciation each year would be worth close to €68,500. That amounts to more than 95% capital appreciation over three years! It's no wonder canny investors are flocking to Bulgaria.

Bulgarian Property Prices - How low can the stay?

2005-03-16T07:29:00.000-08:00

It seems inevitable that with the current amount of interest in proeprty in Bulgaria that the bubble will have to burst soon, bringing prices on par with some of its closer neighbours. Not necessarily so! Set to join the EU in 2007, Bulgaria will reap the benefits of EU coffers but it will be some time before the Bulgarian infrastructure reaches Western standards. Unitl it does, prices will remain very competitive. Like other Eastern European countries such as Latvia and Estonia, it could take up to ten years for property prices to rise on par with the rest of Europe. So it seems, the window of opportunity in Bulgaria is still open for those interested in buying a home there. It is likely to remain open for some years to come.

Change in Land Law expected

2005-03-15T15:16:00.000-08:00

As is stand person not resident in Bulgaria need to set up a company before being able to buy property in Bulgaria. Although its not a difficult or expensive thing to do, it's a bit of a headache and extra piece of paperwork that everybody could do without. Change, however, may be on the horizon. Bulgaria is yet again making efforts to remove the ban on land being sold directly to foreigners, all in the interest of attracting foreign investment! The parlimentary commission on the amendments to the Bulgarian Constitution decided to recommend that the ban be removed from the constitution. Good news for foreign investors! A vote is expected in April so fingers crossed!

Welcome to the Property Newsdesk Bulgaria

2005-03-09T17:25:00.000-08:00

Hello everybody,

The Property Newsdesk Bulgaria is one of many property newsdesks maintained by Propertyauthors.com, a fast growing property investment e-publishing company. What we hope to do here is keep everybody who is interested in buying a house in Bulgaria up to date with all the latest new and developments.

If anything shakes in the Bulgarian property investment market, we'll know about it and you'll hear about it here. PropertyAuthors has editorial partnerships with a growing number of proeprty agents and experts in Bulgaria. We will share their knowledge with you so that you can gaurantee making a success of your investment in Bulgaria's spectacular property market.

We will also showcase new and interesting properties and investment opportunities that come on the market. In Bulgaria, there is always an interesting property adn plenty of bargains too! So add us to your favourites right now and visit often!