Property for sale in all regions of Bulgaria
Property for
sale in Bulgaria News
News 22 May 2006
The changing face of European property investment
With property investment television programmes dominating the listings,
it is inevitable that real estate is beginning to attract more and more
potential investors.
Most of these programmes are also becoming increasingly adventurous in terms
of the places they cover, which is having a direct result on the investment
patterns of UK residents.
In a report for Antara News, for instance, journalist David Burrows says
that many investors are beginning to turn away from France and Spain in
search of better value. He suggests that Bulgaria is a prime example, in
that prices in the country are still exceptionally low but experts are predicting
something of a boom before long.
"The EU may be balking at Bulgaria's failure to rein in organised crime
but second-home hunters seem to have no worries," pointed out Mr Burrows.
The Sofia Echo has today reported that the coastal resort of Sozopol is
seeing the highest demand for real estate at the moment. Referring to a
report in 24 Chassa, the publication points out that the seaside resorts
of Tsarevo and Ahtopol are also experiencing high demand, with slightly
cheaper prices in both of these areas.
Bulgaria does have an advantage over many of its near neighbours in that
it offers a hugely diverse selection of opportunities for property investors.
There is great potential around the Black Sea regions but there has also
been staggering growth in Bansko, with investors taking advantage of the
rising number of holidaymakers heading over for cheap ski breaks each year.
While it may seem a small point, Bulgarian property is also benefiting from
the fact that many investors are simply looking for a change and there is
a certain kudos associated with buying a property somewhere slightly out
of the ordinary.
When added to the fact that experts are predicting that prices will soar
in Bulgaria in the next few years, it is inevitable that the country's popularity
is continuing to climb.
There is clear evidence of this already, as noted in the report by Mr Burrows.
Rupert Lee-Browne, from currency exchange specialists Caxton FX, said that
50 per cent more of his clients were moving money to the country when compared
to last year.
He went on to say that a huge amount of money was being invested in upgrading
infrastructure while there was a 40 per cent increase in hotel occupancy
rates during the ski season.
The ski season is in fact becoming central to many investment projects,
not least because properties in these areas are still cheaper than in the
ski resorts. Borovets,
Pamporovo and Bansko
are all popular with buy-to-let investors as they all offer rentals in the
summer as well as the winter.
While occupancy levels are clearly down in the summer and rents are lower,
capital appreciation is perhaps the greatest consideration and expected
EU accession in the next year should play a huge role in giving a free rein
to this potential.
Bulgaria a hot property destination for Welsh
The number of Welsh families buying property abroad is on course to double
within the next seven years, with Bulgaria proving the hot destination.
Even first-time buyers priced out of the domestic market are turning to
the former Soviet bloc nation to get a foothold on the property ladder,
says Swansea-based Britannia Overseas Property.
Britannia - one of the UK's leading developers in Bulgaria - say impending
EU membership and low property prices are helping money pour into the Black
Sea resort nation.
Such is demand, Bulgaria last year recorded an average property price increase
of 47.5 % with experts predicting values will more than double over the
next 12 months. Britannia's Bulgarian ski and coastal development properties
sell on average for £45,000.
Attracted by its long, hot summers and the Black Sea beaches' white sands
the number of foreign tourists visiting Bulgaria has increased by almost
50%, with those from the EU growing by nearly 90%, over the past two years.
Andy Moore, former Wales rugby international and Britannia's joint managing
director, told the Western Mail yesterday, "The majority of our local
investors are buying properties on the coast or in mountain resorts for
capital growth, rental income and a chance to visit for their own holidays.
"Many have previously owned property
in Spain and the UK, but are moving their money to Bulgaria, as some
see it as like Spain years ago, and Ireland before it joined the EU, offering
the potential for similar returns."
Marc Davies and his wife Dawn bought a studio apartment in the Bulgarian
ski resort of Bansko
a month ago for £35,450 as an investment. The couple, from Mayals,
Swansea, say they were put off buying an investment property here by inflated
prices.
Salesman Mr Davies said, "If you buy property here now the rental income
will not even cover the mortgage. There are very few properties here now
where you can completely re-do the house and then make money on it."
Mr Davies, 32, who has never visited Bulgaria, is hoping to rent out the
property during the ski season between November and February's end.
"They're building a golf course here now so there should be plenty
of opportunities for a rental income," he said.
"But even if I can only rent it out during the skiing season it should
still make money for me."
But Melfyn Williams, a past president of the National Association of Estate
Agents, whose company Williams & Goodwin has several office across North
West Wales, said buying abroad also has its downsides.
He said, "The track record has shown that investment in bricks and
mortar in almost any country is a sound one and at the moment some countries
such as those coming into the EU are experiencing good capital growth.
"The downside is that if something goes wrong you cannot go round the
corner to sort it out.
"There have also been stories whereby couples have bought and then
people have turned up with the right to take a bit of their garden to develop
on it.
"In other cases people have come back and claimed the land the house
was on."
And Mr Williams suggested the domestic property market in parts of Wales
has outperformed Bulgaria over the past year.
"It was only a couple of weeks ago that one paper was reporting that
prices have risen on Anglesey by 252%. So yes, the price rises in Bulgaria
are good, but?"
Mr Moore said cheaper air travel, the strong pound and the recent boom in
the housing market mean that owning a home overseas was now the equivalent
of buying a holiday caravan 20 years ago.
"With the poor returns on the stocks and shares market and the uncertainty
surrounding pension funds, more and more ordinary people invest their hard-earned
cash into bricks and mortar by buying a property abroad," he said.
Buying abroad soars
A study presented to the Association of British Travel Agents revealed that
home ownership abroad will double over the next five to seven years.
The World Trade Organisation forecasts that by 2010, Bulgaria will be visited
annually by at least 20 million tourists, making it one of the world's most
promising international tourist destinations.
The booming demand for homes in the sun has seen Britons' spending on second
homes treble in two years. The UK is now spending £6bn per year on
holiday homes abroad - compared to £2bn per year just two years ago.
In the next few months alone, an estimated 80,000 Britons are expected to
buy a second home.
And while most will be used for holidays and short breaks, an increasing
number will be bought as long-term investments and rented out to generate
income.
Bulgaria faces up to more work
It is looking increasingly like Bulgaria's accession to the European Union
will be delayed, raising a number of issues in relation to property investment.
Purchasing an investment property
in Bulgaria has been a popular strategy for a number of years and the
country's progress in the vast majority of areas has been staggering since
membership talks began in 2000.
The property market in Sofia, for instance, has benefited from a series
of redevelopments, while the ski resorts are proving incredibly popular
with tourists from around the world. Developments
in Bansko have been significant in the last couple of years and investors
have are now able to look forward to excellent rental potential as well
as impressive capital appreciation.
A similar scenario has developed in the Black Sea regions, which tourists
are beginning to see as an alternative to some of the more traditional options
in Spain.
Sunny Beach is one of the key growth areas on the Black Sea coast and it
boasts an impressive beach that is eight kilometres in length. The future
certainly looks bright for investors in Bulgaria and the groundwork has
already been laid for future growth, but there are undoubtedly hurdles that
need to be cleared.
Bulgaria signed a joint accession treaty in April last year and accession
was pencilled in for January 1st 2007.
According to reports, however, the European Commission is likely to tell
both Bulgaria and Romania that a number of standards need to be met before
EU membership is an option.
As reported by a special BBC report, the EU actually has the option to invoke
a clause in the accession treaty that would allow for the postponement of
EU entry until 2008. The key concern for Bulgaria in particular is corruption,
although a series of measures are now in place to tackle this perennial
problem.
According to Reuters, the European Commission will actually postpone a final
recommendation on Bulgaria's accession to September. The Commission will
be discussing the progress made so far in a meeting tomorrow, but Reuters
has reportedly heard that the postponement decision has already been made.
Bulgaria's prime minister, Sergei Stanishev, has worked tirelessly in recent
months in his attempts to overhaul Bulgaria's tired infrastructure and he
has been praised on a number of occasions for the steps that have been taken.
As quoted by the Sofia News Agency, he is now looking for a fair representation
in the Monitoring Report that acknowledges some of these developments, although
he is prepared to accept the criticisms levelled at some of the weaker areas.
While EU accession will of course be beneficial to Bulgaria's property market,
investors are not necessarily concerned that it may be delayed. All evidence
points to solid and continued improvement in the country and many of the
most pressing issues have already been addressed. If EU accession is indeed
delayed to 2008, Bulgaria is still set to enjoy a record year for tourism,
with good press about the ski resorts encouraging many to choose the country
over the likes of France.
Joaquin Almunia, European commissioner for economic and monetary affairs,
has been talking with Mr Stanishev about future economic growth and attracting
further foreign investment and it seems clear that progress is continuing
at an impressive rate.
Property investors observe Bulgaria's progress
The European focus is very much on Bulgaria at the moment and few will be
watching more intently than those in the property investment business.
In the last few years, Bulgaria has developed at an impressive rate and
the fact that the country is currently being considered for EU membership
is testament to this.
At the same time, Bulgaria's problems with law and order have been well
documented and it is an area that threatens to delay both EU accession and
the growth of the property market.
Nonetheless, Franco Frattini, vice president of the EC responsible for justice,
freedom and security, says that he is impressed with the "enormous
progress" that has already been made, reports the Sofia News Agency.
Mr Frattini is reportedly positive about the judiciary agenda that has been
proposed by Bulgarian chief prosecutor Boris Velchev and he has stressed
that Brussels has a duty to support in the consolidation of institutional
reforms.
Growth in the Bulgarian property
market has been impressive even without EU accession and the country is
already making strides in terms of its attractiveness to tourists and investors.
To its advantage, Bulgaria is able to
appeal on a number of fronts, thanks to its rapidly improving ski resorts,
the popular Black sea regions and a burgeoning business capital in the form
of Sofia.
The ski resorts have enjoyed a particularly strong period, with Bansko
drawing in high levels of investment to cater for the rising number of visitors
last year. Bidding for the 2014 Winter Olympics, Bulgaria is also managing
to successfully market itself as an alternative to the likes of France.
The next ski season is likely to see further improvements, with property
developments ongoing in and around the most popular tourist areas.
It is an area that is likely to appeal to buy-to-let investors as Bansko's
soaring popularity will inevitably lead to a rise in the demand for good
rented accommodation.
Yet again, tackling corruption could prove critical to the success of Bulgaria
as a premier holiday destination as lingering doubts over law and order
do not inspire confidence in those planning to travel from abroad.
Bulgaria is clearly making progress, as typified by the fact that a senior
official has been arrested on bribery charges. Krassimir Nedelchev was deputy
head of the State Agriculture Fund and his arrest has been seen as evidence
that the government will not tolerate financial mismanagement.
There is a real sense of momentum in Bulgaria and a collective resolution
to prepare correctly for EU membership. Once the basic problems within the
country are addressed, the country truly is in an exceptional position in
terms of its attractiveness to investors and excitement in the property
industry is continuing to build.
Property for sale in Pamporovo Bulgaria
Property for sale in Bulgaria - House
Location: Pamporovo
Ref: 15599
Price: £34,483 - €50,000
Details: Beds: 0 | Baths: 0 | Built M2 500 | Plot: M2 600 | Pool: No | Garage: Yes
Property for sale in Pamporovo Bulgaria
Property for sale in Bulgaria - House
Location: Pamporovo
Ref: 15597
Price: £30,966 - €44,900
Details: Beds: 3 | Baths: 2 | Built M2 180 | Plot: M2 1000 | Pool: No | Garage: Yes
Property for sale in Pamporovo Bulgaria
Property for sale in Bulgaria - House
Location: Pamporovo
Ref: 15603
Price: £26,897 - €39,000
Details: Beds: 6 | Baths: 2 | Built M2 240 | Plot: M2 560 | Pool: No | Garage: Yes
Property for sale in Pamporovo Bulgaria
Property for sale in Bulgaria - House
Location: Pamporovo
Ref: 15602
Price: £25,862 - €37,500
Details: Beds:6 | Baths: 3 | Built M2 200 | Plot: M2 - | Pool: No | Garage: Yes
Property for sale in Pamporovo Bulgaria
Property for sale in Bulgaria - House
Location: Pamporovo
Ref: 15601
Price: £21,379 - €31,000
Details: Beds:2 | Baths: 1 | Built M2 100 | Plot: M2 - | Pool: No | Garage: No
Property for sale in Pamporovo Bulgaria
Property for sale in Bulgaria - House
Location: Pamporovo
Ref: 15595
Price: £17,931 - €26,000
Details: Beds:3 | Baths: 1 | Built M2 200 | Plot: M2 4000 | Pool: No | Garage: Yes
Property for sale in Pamporovo Bulgaria
Property for sale in Bulgaria - House
Location: Pamporovo
Ref: 15595
Price: £17,931 - €26,000
Details: Beds:3 | Baths: 1 | Built M2 200 | Plot: M2 4000 | Pool: No | Garage: Yes
Property for sale in Borovets Bulgaria
Property for sale in Bulgaria - Ski resort apartment
Location: Borovets
Ref: 16896
Prices from: £48,490 - €71,280
Details: Beds: 1 | Baths: 1 | Built M2 72 | Plot: M2 - | Pool: No | Garage: No
Property for sale in Borovets bulgaria
Property for sale in Bulgaria - Ski resort apartment
Location: Borovets
Ref: 16897
Prices from: £48,490 - €71,280
Details: Beds: 1 | Baths: 1 | Built M2 72 | Plot: M2 - | Pool: No | Garage: No
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort apartment
Location: Bansko
Ref: 16542
Prices from: £58,231 - €85,599
Details: Beds: 1 | Baths: 1 | Built M2 80.94 | Plot: M2 - | Pool: No | Garage: Parking
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort apartment
Location: Bansko
Ref: 16895
Prices from: £56,667 - €83,300
Details: Beds: 1 | Baths: 1 | Built M2 70 | Plot: M2 - | Pool: No | Garage: No
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - House
Location: Bansko
Ref: 15445
Price: £19,728 - €29,000
Details: Beds:4 | Baths: 1 | Built M2 150 | Plot: M2 500 | Pool: No | Garage: No
Property for sale in Varna Bulgaria
Property for sale in Bulgaria - House
Location: Varna
Ref: 14275
Price: £88,435 - €130,000
Details: Beds:4 | Baths: 2 | Built M2 150 | Plot: M2 1200 | Pool: No | Garage: Parking
Property for sale in Varna Bulgaria
Property for sale in Bulgaria - House
Location: Varna
Ref: 16613
Price: £64,626 - €95,000
Details: Beds:3 | Baths: 2 | Built M2 300 | Plot: M2 1000 | Pool: No | Garage: Yes
Property for sale in Varna Bulgaria
Property for sale in Bulgaria - House
Location: Varna
Ref: 14283
Price: £47,619 - €70,000
Details: Beds:2 | Baths: 1 | Built M2 120 | Plot: M2 1200 | Pool: No | Garage: Yes
Property for sale in Varna Bulgaria
Property for sale in Bulgaria - House
Location: Varna
Ref: 15036
Price: £37,415 - €55,000
Details: Beds:2 | Baths: 1 | Built M2 150 | Plot: M2 2000 | Pool: No | Garage: No
Property for sale in Varna Bulgaria
Property for sale in Bulgaria - House
Location: Varna
Ref: 15364
Price: £19,048 - €28,000
Details: Beds:3 | Baths: 2 | Built M2 100 | Plot: M2 1500 | Pool: No | Garage: Yes
Property for sale in Varna Bulgaria
Property for sale in Bulgaria - House
Location: Varna
Ref: 15037
Price: £17,687 - €26,000
Details: Beds:3 | Baths: 1 | Built M2 120 | Plot: M2 700 | Pool: No | Garage: Yes
property for sale in Borovets Bulgaria
Property for sale in Bulgaria - House
Location: Borovets
Ref: 15590
Price: £56,463 - €83,000
Details: Beds:2 | Baths: 1 | Built: M2 90 | Plot: M2 800 | Pool: No | Garage: Yes
Property for sale in Borovets Bulgaria
Property for sale in Bulgaria - House
Location: Borovets
Ref: 15591
Price: £55,034 - €80,900
Details: Beds:5 | Baths: 3 | Built: M2 1000 | Plot: M2 4000 | Pool: Yes | Garage: No
Property for sale in Borovets Bulgaria
Property for sale in Bulgaria - House
Location: Borovets
Ref: 15585
Price: £44,218 - €65,000
Details: Beds:4 | Baths: 2 | Built: M2 190 | Plot: M2 32 | Pool: No | Garage: Yes
Property for sale in Borovets Bulgaria
Property for sale in Bulgaria - House
Location: Borovets
Ref: 15588
Price: £44,218 - €65,000
Details: Beds:5 | Baths: 2 | Built: M2 250 | Plot: M2 800 | Pool: No | Garage: Yes
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort property villa
Location: Bansko
Ref: 15444
Price: £29,932 - €44,000
Details: Beds: 1 | Baths: 1 | Built M2 150 | Plot: M2 1500 | Pool: No | Garage: No
Property for sale in Borovets Bulgaria
Property for sale in Bulgaria - House
Location: Borovets
Ref: 15584
Price: £24,490 - €36,000
Details: Beds:3 | Baths: 2 | Built: M2 180 | Plot: M2 600 | Pool: No | Garage: Yes
Property for sale in Borovets Bulgaria
Property for sale in Bulgaria - House
Location: Borovets
Ref: 15586
Price: £17,007 - €25,000
Details: Beds:1 | Baths: 1 | Built: M2 90 | Plot: M2 1000 | Pool: No | Garage: Yes
Property for sale in Borovets Bulgaria
Property for sale in Bulgaria - House
Location: Borovets
Ref: 15589
Price: £15,646 - €23,000
Details: Beds:2 | Baths: 1 | Built M2 80 | Plot: M2 - | Pool: No | Garage: Yes
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort property apartment
Location: Bansko
Ref: 15630
Price: £44,322 - €65,153
Completion: November 2005
Details: Beds: 1 | Baths: 1 | Built M2 59 | Plot: M2 -- | Pool: No | Garage: Parking
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort property off plan apartment
Location: Bansko
Ref: 16546
Price: £39,185 - €57,602
Completion: August 2006
Details: Beds: 1 | Baths: 1 | Built M2 -- | Plot: M2 -- | Pool: No | Garage: --
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort property apartment
Location: Bansko
Ref: 15630
Price: £44,322 - €65,153
Completion: November 2005
Details: Beds: 1 | Baths: 1 | Built M2 59 | Plot: M2 -- | Pool: No | Garage: Parking
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort property apartment
Location: Bansko
Ref: 15960
Price: £38,027 - €55,900
Details: Beds: 1 | Baths: 1 | Built M2 43 | Plot: M2 -- | Pool: No | Garage: Secure Parking
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort property Villa
Location: Bansko
Ref: 16549
Price: £29,932 - €44,000
Details: Beds: 1 | Baths: 1 | Built M2 150 | Plot: M2 1500 | Pool: No | Garage: No
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort property apartment
Location: Bansko
Ref: 16766
Price: £27,211 - €40,000
Details: Beds:-- | Baths:-- | Built M2 -| Plot: M2 - | Pool: Heated | Garage: Parking
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort property villa
Location: Bansko
Ref: 16610
Price: £26,993 - €39,680
Details: Beds:1 | Baths:1 | Built M2 -| Plot: M2 - | Pool: No | Garage: Parking
Property for sale in Bansko Bulgaria
Property for sale in Bulgaria - Ski resort property villa
Location: Bansko
Ref: 15444
Price: £29,932 - €44,000
Details: Beds: 1 | Baths: 1 | Built M2 150 | Plot: M2 1500 | Pool: No | Garage: No
Bulgarian property for sale
Bulgarian property
Bulgaria property for sale
Bulgaria Property
Listed in this section are Bulgaria property ads for sale and rent. Currently we are offering more than 2000 hot offers of Bulgaria property from all main regions of our beautiful country. Bulgarian Properties have own local branches and agents in each area where we sell Bulgaria property.
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