Property is the fastest growing asset in Bulgaria. With its approaching integration in the European Union the country presents a prime opportunity for investments with very promising growth potentials.
Investing in Bulgarian real estate now means simply following the logic of the real estate trends in Europe in the past 20 years. For example, Bulgaria today is what Spain was two decades ago with regard to real estate development and growth, boom in tourism, and general economic advancement.
Bulgaria is particularly attractive because of its diverse and striking natural terrain-the beauty compacted into such a tiny country hasn’t stopped to fascinate visitors and investors alike. Relatively low urbanization and a good climate, combined with the rich cultural heritage, numerous historic and natural attractions, and friendly local environment have made Bulgaria a desired place for a second home or a permanent residence.
In the last 18 months property prices in Bulgaria increased more than 25% and in certain cases real estate value increased by 50%. Now, after this initial big jump, the real estate market has taken a slower but steady trend of going upward. Prices of property and land are expected to increase by an average of 10 to 15 percent for the next few years and experts agree that now is good time to catch the wave of the growing real estate market in this country.
Whether investing in real estate development or buying land, or acquiring a vacation property, Bulgaria is a market that should not be overlooked. The prime real estate areas are obviously the bigger beach resorts along the Black Sea coast like(Albena, Golden Sands, St Konstantin and Elena, Sunny Beach); the coastal city of Varna; the country’s capital Sofia; the mountain resorts of Pamporovo, Bansko and Borovets; and the numerous towns and villages close to the sea coast. At the same time the Bulgarian inland, with its authentic towns, bucolic villages, and landscape, unspoiled by industrialization is a long-forgotten site for many West Europeans and also an attractive option for investment in real estate.
Low cost of living, great food and services, developed infrastructure, spectacular scenery, and easy accessibility from Europe due to the expanding network of airline charters, have made Bulgaria not only a desired vacation spot but a place for sound investment.
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