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For all skiing related sport lovers out there, Bulgaria offers you the most outstanding winter sport resorts available in Main land Europe today. Already well known on the world Skiing circuit are resorts such as Bansko, Borovets and Pamporovo to name but a few.

Numerous European property investors have recently taken advantage of extremely great value and prestigious off plan apartment Property developments either in the form of apartments or chalet style houses within numerous winter resorts in Bulgaria.

Bansko which is situated about 160 km south of Sofia has been nicknamed the Gateway to the Pirin Mountains and the new Tuscany. The historic town of Bansko, is the heart and soul of this new resort.
Bansko has been proposed for the Bulgarian bid for the Winter Olympic Games in 2014 alongside Sofia and two other Bulgarian ski resorts. The conditions for skiing are rumored to be among the best in the Balkans. 2006 / 2007 and the foreseeable future is expecting the increase in a high volume of tourist traffic to these regions bringing many thousands of affluent skiers and inward investment into the area.

At present thousands of apartments are being built in these regions to supply the ever demanding tourism trade that winter sports brings to the region.

What this means to the property investor is some outstanding deals being offered at present from purchasing an off plan ski resort apartments or chalet style affordable property. Many apartments depending on size and location can be bought for approximately ?20,000. With the Inclusion into the EU in 2007 will bring forward expected property rises with most property experts predicting increases Read more…

If you were selling a convertible car the perfect time to sell would be the summer, right? The blue skies and blazing sun would allow you to get the best possible price. If you were buying a convertible car, on the other hand, the best time to buy is the winter. When the skies are grey and the rain is falling so does the price of that car.

The same is true when it comes to buying property in Bulgaria. One hundred degree temperatures and cloudless skies are definitely not the best conditions to ski or snowboard! They are however perfect for negotiating a killer discount on mountain property.

The summer months draw an amazing number of tourists to the Bulgarian coastline. Developers are flooded with enquiries for apartments and villas and often raise their prices to take advantage. The developers in the mountains meanwhile are left with far fewer enquiries and are more open to negotiate discounts.

Just as the prices on the coast rise by a few percentage Read more…

Property investment in Bulgaria can make you a whole lot of money if you do it right. Do it wrong and your money will be tied up in bricks and mortar that nobody wants. Here are the three major factors you must bear in mind to make yourself the maximum profit.

Location, location, location.

You have heard the phrase a million times before and it applies in Bulgaria the same as everywhere else. It is absolutely critical that you choose the right location for your investment to maximise your profit.

If you are buying on the coast, buy as near to the sea as you can. On a golf course, as near to the fairways as possible. In the mountains, on top of the ski lifts if possible. In the cities you need to be close to all transport links and in the ?hottest? districts.

Buy the best you can afford.

The whole point of property investment is to make a profit when you sell. The easier and quicker you can move the property on, the more profit you stand to make. For that reason you must stand in the shoes of the next buyer when you look at any property.

The properties with the best features and in the best condition nearly always sell first. Apartments with great onsite facilities like pools, gyms, restaurants, parking, stunning views and balconies always sell faster and for more, than those without. Country houses finished to Western standards and with all amenities Read more…

While buying property for sale in Bulgaria, and especially when it comes to brand new developments, often marketed off-plan, most British investors are “seduced” by the rent out options of 8-10% annually. The truth, however, is yet to be discovered as few Bulgaria property developments can actually boast realistically such percentages, the majority still being quite doubtfull in their proof of viablity. The following text is the first of series of articles exploring the possibilities for renting out in a market where buy-to-let has been unknown till very recently.

The nature of the Bulgaria property market is very dynamic as the market itself is quite young (roughly 15 years old in its present shape) and as the sellers still dictate its bias. Looking from the stand point of the developers and their agents, or simply from the stand point of the home owners, the recent leap of the prices is the major driving force when it comes to whether to sell, build or both. Combining the popular in Britain menatality of investing for renting out with the local desire for quick profits, many sellers and developpers are tempted to promise unrealistic figures. Aside from few regions along the Black Sea coast and in the mountain resorts, the rest of the country cannot offer even fraction of the easily promissed bombastic returns on investment. Looking deeper into the Bulgaria property market, even the Black sea coast developments are dubious and contingent on too many unknowns.

According to International Herald Tribune 18% of all Bulgaria Property sales had been made by Foreign Customers in 2004. Again another 23% of the total sales on the Bulgarian Property Market have been made by foreigners in the year of 2005. Baring in mind those growing figures it is no suprise investors are offered temptation after temptation playing around the probability game for not merely capital gains but in the short run – income from letting.

All politics is local – how about business?

In a bestseller called “Hardball: How the politics is played told by one who knows the game” a famous phrase comes to mind when we talk business in general. “All politics is local” – so is Read more…

When buying property in Bulgaria, the first law you will encounter as a foreigner is that you cannot. That is scheduled to change in 2013 after EU accession, but investors looking to get a piece of the lucrative land boom in that country, popular as it is with tourists from Britain and elsewhere, need to go in with their eyes open to the growing pains of the Balkan legal system that surrounds land or property purchases.

The law stipulates that foreigners may not purchase land or any property that comes with land. The popular way around this is for foreign nationals to register a company in Bulgaria when purchasing the equivalent to an ?English freehold.? A foreigner may own a company in Bulgaria and that company owns the property. This is a straightforward procedure, but shop around for a reliable lawyer to knit it all together. I have heard reports of people paying as high as ?5000 for such a service. At least Dick Turpin wore a mask.

For those seeking a cleaner transaction, buying an apartment, especially new construction in the capital city of Sofia, is not only less complicated, but more likely a sounder investment. The law against foreign ownership is irrelevant when buying an apartment with no land belonging to it outright. In addition to this it is usually correct to use property values in the capital city as the fair marker of where the market really stands. Whilst many sun seekers may be transfixed by the idea of a coastal apartment on the Black Sea Coast or a rural cottage, prudent investors tend to invest in the capital, looking for a steadier and long term market growth. As you can lunchtime ski from Sofia, this is not so stupid.

Another issue buyers must keep their eye on is the difficulty of establishing title. The previous rule of the communists has left many question marks hanging over ownership. Property has been reclaimed after 45 years, families have changed since the communist government interrupted ownership and rights of succession remain unclear, especially when the long lost love child appears on the horizon.

Recently I was winding up research on a property for a client in the Rodopi Mountains, was about to buy, only to discover the land on which it was built was actually still state owned. Such information is not on a national database and must be researched the old fashioned Read more…

Almost everyday in the Media, almost every week well-attended seminars and exhibitions for would-be investors in foreign properties all round the UK… And the interest is growing by the day!

Well, what’s up?

The latest property hot-spot which is attracting thousands of ordinary British investors is Bulgaria. And the interest is growing by the day. It?s phenomenal!

Bulgaria, once known to the wider public only as a satellite country of the Soviet bloc, is making its entry into the western world as a fully-fledged democracy with a vibrant free economy. A member of NATO since 2004, Bulgaria is due to enter the EU in 2007.

Now the world is discovering Bulgaria – a country of amazingly contrasting landscapes, ancient traditions reflecting its rich cultural heritage, an excellent climate – neither too hot, nor too cold – and the allurement of an incredibly low cost of living. And only a three-hour air flight from London. And the price of air tickets is tumbling?

Under such circumstances, Bulgaria has become more than a popular tourist destination. It is now THE CHOICE of many ordinary British people for their first home-abroad investment. Many have been attracted by the natural advantages of the Black Sea coast, always a prime holiday destination. Increasingly interest has turned to winter ski resorts like Bansko and Pamporovo. Of course, Bulgaria’s capital Sofia also offers unique advantages for the property investor, with its chic suburbs like Boyana, Simeonovo and Dragalevtsi so close to the ski-slopes of Mount Vitosha.

THE RIGHT CHOICE

Approaching the matter of first-time investing in a home-abroad in Bulgaria, means, in practice, approaching the right Real Estate agent, who can give the prospective investor, first of all, an objective assessment of the advantages of buying property in Bulgaria, but also what pitfalls to avoid. There are now thousands of agents promoting Bulgarian Property, some based in the UK, some in Bulgaria, some offering every kind of property, new and old, all over Bulgaria, some specialising in particular locations, and some dealing exclusively with so-called Off-Plan.

Unfortunately, many would be buyers are attracted only the fame of the incredibly low prices for acquiring a country cottage, somewhere within a 50-mile distance from the Black Sea coast, or in a mountain village an hour?s drive from one of the renowned ski-resorts, or an apartment, ?in need of some refurbishing?, in a central location in Sofia. These are all traps for the unwary, as some have found out to their disappointment. Often, such houses are in a very poor state of repair, without running water or sanitary facilities. Some apartments of the Communist era and even before, may be very cheap, but structurally they have a short life. There may be a problem of legal ownership and, above all, it is still not possible for non-Bulgarians to own land, without creating a Bulgarian holding company.

In the vanguard of the numerous agencies promoting the booming Bulgarian property market, are those specialising exclusively in brand new, off-plan developments. They aim not simply to provide a “one-stop” service for anyone thinking seriously to invest in Bulgarian property, but they will see the prospective client through every stage of acquiring the property of his choice, getting a mortgage, assisting him also in the process of renting it in and out of season.

These companies, noted for their ethical, customer-friendly profile and their inside knowledge of the Bulgarian emerging market, pro-actively pursue the investors’ interests, not only guaranteeing peace of mind for those who have recently discovered the astounding opportunities of buying property in Bulgaria, but above all by giving the best advice on every aspect of his investment. Mortgages and finance, insurance, property management on the clients’ behalf, legal questions (should they arise) – nothing should be outside the orbit of service to the investor.

The partners of such companies will have built up an extensive network of associates in Bulgaria and are totally familiar with the local conditions, as well as the most recent developments in harmonising the country’s economy, laws and institutions to EU norms. At the same time, every client’s needs is treated with the serious attention to which he or she is fully entitled.

Visits are organised to Bulgaria for prospective clients, in close collaboration with the developers of the properties, in which they are interested. The “off-plan” specialist will be concerned to see that clients are regularly informed about the progress of their properties.

THE BLACK SEA COAST

There is a large and varied portfolio of “off-plan” properties to suit both the preferred location of each client and, of course, his budget. In the early stages of what has been referred to characteristically as “the Bulgarian Property Renaissance”, the Black Sea coast resorts were especially in demand. They were hotly recommended as the new Costa del Sol. Several of these same developments are handled by different Real Estate companies in the UK, but not all of them have the required expertise in Bulgarian property promotion.

One-, two- and three-bedroom apartments, as well as studios, are on offer at various locations along the extensive, broad sandy beaches, around the highly-popular Sunny Beach, close to the UNESCO-protected medieval town of Nessebur, on its own peninsula. Here, between the principal coastal cities of Varna and Bourgas (both served by regular and charter flights in the summer season), there are a close-knit group of resorts, Byala, Obzor, Elenite, Sveti Vlas, Ravda, each having its own special atmosphere. North of Varna, towards Golden Sands, Albena, Balchik and Kavarna, where a number of new golf courses have been constructed, properties tend to be little more pricey, reflecting the more exclusive atmosphere of these Northern seaside resorts. At Rogachevo, for instance, close to stylish Albena, custom-designed villas, the utmost in fine taste, are in the final stages of completion. Again, to the south of Bourgas, close to the charming resort of Sozopol, a number of fantastic, but quite affordable studio, one- and two-bedroom seaside apartments await discerning buyers. Further south, where the Ropotamo river and Strandza mountain Read more…

Brits moving permanently to Bulgaria

It has been reported that many Brits are falling for Bulgaria ’s charms with a growing number choosing to move there permanently. In recent years investment has been the main driving force behind the number of Brits buying property in the country but many have decided to buy and live outside the Sunny Beach area and a few miles inland as well as other village areas around the country.

There are a number of factors for those choosing to move but the low cost of living and the seemingly peaceful surrounds are the most likely reasons so many Brits are making the move. Many have also been able to rent out there properties back in the UK , and live very comfortably off the rental income in Bulgaria .

As more companies relocate to Bulgaria to take advantage of the low wages and to strategically place themselves for the countries’ expected accession to the EU in 2007, many British employees are expected to relocate with their employers. Tourist areas have seen recent year-on-year growth of between 25% up to as much as 100% however those opting to live in to move permanently prefer to be based inland.

Many Brits are buying around the Veliko Turnovo region with home prices starting as low as GBP 10,000. There are still cheaper Read more…

UK Investors Snap up Properties in Bulgarian Resorts

The Times in London writes that Bulgaria is now one of the top destinations for ski properties due to factors such as the low property prices and inexpensive ski passes.

“During the summer this sparsely populated, largely rural country offers a wealth of activities such as hiking, fishing and mountain biking, as well as the fabulous beaches of the Black Sea coast. The numerous historic towns, unspoilt villages, castles and churches are also waiting to be explored.”

Properties in the popular ski resorts can earn up to 12% rental return according to property investment firm Assetz. This return is potentially double that of coastal properties due to their all year-round attraction.

The number of UK holidaymaker visiting Bulgaria increased by a staggering 36% in the past year. This has lead to an influx of travel companies as the country is now establishing itself as a true holiday hotspot.

UK Househunters “Tempted” by Bulgaria, Turkey

Rather than buying a farmhouse in France or an apartment on the Costa Del Sol, the Daily Telegraph reports that British investors are now tempted to buy properties in Bulgaria and Turkey.

A key factor in determining the new location in which to invest is price and investors have been experiencing enormous returns. For example, a large one-bedroom flat in Ravda, 10 minutes from the Black Sea resort of Sunny Beach purchased two and a half years ago for just under 20,000 pounds fully furnished, would now cost 45,000 pounds.

Marc Todd of Dosop, an international property company based in West London, raises the corcern that some of overdevelopment in the big resorts such as Sunny Beach and suggests that there is a large supply Read more…

Bulgaria is currently the European property investment hotspot. Prices are rising steadily at 30% per annum and are expected to leap forward when the country becomes a full member of the EU in 2007.

Bulgaria is a truly remarkable country with a varied terrain. Not only can it offer city, coastal, mountain and rural properties but the vast amount of real estate that is available to buy, also comes with prices that will fit into everybody’s budget.

Coastal properties.

The waters of the Black Sea are actually warmer than those of the along the Spanish mainland throughout the summer months. Popular investment locations are Sunny Beach, Golden Sands and Varna. Up and coming destinations include Nessebar St. Vlas and Balchik.

The developments that are on offer are predominantly designed as seaside holiday apartments. However there is also now a fast-growing golfing market that is being catered for with new developments either in construction or planned. Prices can be from as low as ?20,000 for a studio apartment to ?100,000 for detached villas on the golf resorts. Instant equity and guaranteed rental are also available in certain complexes.

City apartments.

Sofia as the capital and Plovdiv as the second city, are the two main areas for growth. Real estate in Sofia is currently around 25% of the cost of other European capital cities. Plovdiv is even cheaper, with prices around ?400 to ?500 per square metre.

The cities offer an excellent investment choice, with good rental expected from companies relocating to Bulgaria. Corporate lettings can offer consistent guaranteed rental with minimum risk. Prices range from around ?30,000 for an apartment on the outskirts of town to over ?100,000 for a city centre apartment with excellent facilities. These prices are considerably cheaper than other properties for sale across Europe.

Rural investments.

The countryside really does offer the cheapest real estate. Bulgaria is a magnificently beautiful country. Roughly the same size as the UK, the country has a total population of less than 8,000,000. The infrastructure can pose a problem in more isolated areas, and price increases will probably take longer than the more popular destinations. Nonetheless, detached properties with acres of land are readily available for less than ?10,000.

Mountain and skiing real estate.

Bulgaria has three main ski resorts. Borovetz, and Bansko and Pamporovo. The ski season is the longest in mainland Europe. From an investment point of Read more…

The secret is well and truly out for Bulgaria. With the cheapest property prices in Europe, and a ridiculously low cost of living, people are buying Bulgarian properties in their droves.

Traditionally, property investing has been for the well-heeled, and the well-connected. Exotic foreign climes, slick city centre apartments and bustling holiday hideaways have offered huge returns to the canny and knowledgeable investor. Bulgaria has certainly bucked the trend, with property prices are for all of the above that are well within the reach of the average investor.

Seduced by the fantastic climate, a laid-back lifestyle and fast appreciating prices, returning holidaymakers have fuelled the price of property, in more traditional European resorts, for years. Unfortunately, the growth in prices has been so dramatic, as to push prices in favourites such as Spain and Portugal, to record highs that are way out of the reach of the average purchaser.

Bulgaria is a refreshing change. Likened to Spain, some 15 years ago, this Balkan jewel offers a variety of properties that will fit in see even the smallest budget. It boasts fantastic coastlines, the longest ski season in Europe, dynamic and vibrant cities and truly breathtaking countryside. Even better, the prices are 60 to 80% cheaper than any of its more fashionable equivalents.

For those with a tiny budget, there are country cottages, with acres of land studded with fruit trees for less than ?10,000. Slick city centre apartments can be acquired, with fantastic all year round rental potential, for less than ?20,000. The Black Sea has temperatures higher than that of the Mediterranean on the Spanish coast during the summer months. There, studio apartments with fantastic sea views, can be bought for less than ?30,000. The mountains offer miles and miles of unspoilt, tree-lined ski runs. Even with guaranteed rental of 15%, studio apartments can be found in Read more…