Property for sale in all regions of Bulgaria
Property for
sale in Bulgaria News
10 February 2006
Foreign investors push up Bulgarian property
prices
As the growth of the property market in Bulgaria begins to build up momentum,
property experts within the country have predicted a sharp increase in property
prices in 2006.
According to the Sophia News Agency, sales prices in prime residential areas
in the last six months have been somewhere in the region of €820 to
€1,650 per square metre and investors from Europe and further afield
are beginning to take advantage of the potential for considerable capital
gains.
Demand in Bulgaria is currently high
for both commercial property and residential property and EU accession in
the next couple of years will only add impetus to the already healthy market.
With the UK set to complete parliamentary procedure on the ratification
of the accession treaties for both Bulgaria
and Romania in the next few weeks, it is looking as if both countries will
be ready to enter the EU sooner rather than later.
Atanas Garov, managing director at Colliers International Bulgaria,
has told the Sophia News Agency that the number of foreign investors is
now crucial to the growth of the market. He revealed that new companies
looking for more space and residents moving to Bulgaria would both have
"a positive effect on the property values and prices".
Mr Garov conceded that residential property investment had attracted most
interest in 2005 with construction permits issued for around one million
square metres of residential buildings during the year. He also highlighted
a distinct split in demand, with portfolio investors buying properties in
resort areas and locals tending to snap up the property in Sofia.
As Bulgaria begins to strengthen
its reputation within the European community, business links will also be
boosted, with many expecting Sofia to develop into one of Europe's key commercial
centres. The knock-on effect in terms of demand for office property is perhaps
inevitable and Mr Garov has seen signs of the office market improving already.
"The office market has been stable for more that two years in terms
of prices, while demand has been growing faster than supply. This has resulted
in much lower vacancy rates at the end of 2005," he observed.
"The overall vacancy rate for Class A and Class B offices in Sofia
has fallen in the second half of 2005. Mirroring higher demand for quality
premises throughout the second half of 2005, the overall Class A vacancy
rate marks a decrease to 10.6 per cent. This gives very good prospects for
developers in 2006."
Looking beyond the capital city, Mr Garov has picked out Varna as a city
to watch, with a thriving social scene and burgeoning commercial reputation.
As is inevitably the case in emerging property
markets, cautiousness and forethought are advisable when purchasing property
in Bulgaria as some areas develop much more rapidly than others. Nonetheless,
with properties around ski resorts proving popular and both Sofia and the
Black Sea regions also attracting investment, it is certainly one of the
most significant and attractive emerging markets in Europe.
Focus on Bansko
While wandering through Bansko's quiet streets, you will find a sense of
peacefulness that emanates from Pirin's peaks, which surround the town.
And you will feel like getting closer to this dream-like scene and becoming
part of it. Devastatingly beautiful and majestic, towering its marble breast
towards the azure sky, Pirin rewards each of it's guests with generosity.
Every encounter with the whetstone giants, crystal-clear lake waters, ski
slopes and peaked ridges is full of rapture and delight! Silent and secretive
the mountain not only charms but with a quiet force invokes respect even
in the most experienced mountaineer.
To preserve this exceptional treasure to Science and future generations
the "Pirin National Park"
was founded on 100,000 acres, including all the northern Pirin from the
"Predela" pass to the "Popovi Livadi" area to the south
- virtually the most beautiful and visited part of the mountain. Here is
the domain of the highest peaks, the venerable white firs, the edelweiss
and the wild goats. Here are more than 180 lakes, where Nature has gathered
half of Bulgaria's flora and fauna. The sheer faces, the high altitude slopes
and vast lands are an excellent place for mountaineering, skiing and trekking.
The "Pirin National Park" is included in the UNESCO Convention
for the Preservation of World Wildlife Heritage. Therefore Pirin belongs
not only to Bulgaria, but also to the world.
Hospitable and harsh, mighty yet powerless, the mountain is not able to
defend itself when mercilessly attacked and hurt. Loved by everyone, Pirin
must be taken care of by all of us, so that the magic of its spell continues
to be cast now and forever.
Skiing in Bansko
Bansko is the newest
Bulgarian ski-center with a 10 year history as a winter resort. Above the
town on the northern slopes of Pirin are located the two main ski-centers
- the low altitude CHALIN VALOG (1100-1600m) and the high altitude SHILIGARNIKA
(1700-2500).
The place has been known for years for its particularly good snow-sure record
which normally allows for a Christmas to Easter ski season. A regular bus-shuttle
service is interlinking the town, the mountain hotels and the main ski centers.
The range of skiing is 14 km of ski runs with 7 lifts with the longest ski
run of 2.5 km. Experienced skiers will particularly enjoy the excellent
opportunity to maximize skiing practises. Beginners slopes will make first
ski lessons easy and enjoyable. Tours can be arranged to Semkovo ski center
in Rila Mountain (40 min. drive) and helicopter trips can bring you to Borovetz
(the largest ski center in Bulgaria) within 20 min.
Beginners could start at the low altetude nursery slopes and gradually move
up the mountain to the highest Platoto region. Ski instructors will help
lead you through fabulous places, also telling you where to ski on your
own later on. Don't dispair if you find slopes far too teep.
Intermediates will probably need half a day to recall the basics of skiing.
You may use this time for a reconaissance tour of ski areas. Joining a ski
instructor will definitely improve your skiing technique and will bring
you closer to the ski 'top-guns' group. Advanced skiers can take the best
out of the long ski runs as the slopes were purposefully designed to host
ski championships.
Error! The codelock file is missing...