Why Invest?

Bulgaria is one of Europe’s fastest developing destinations, a report of the tourism commission with the European Union has indicated recently. The survey revealed that Bulgaria achieved great success at a time when the world tourism faced challenges.

The economy minister said that summer 2005 was the country’s most successful season in 20 years, doubling the number of visitors. British, Irish, Scandinavian and also German, Italian and Greek are the people who visited Bulgaria the most.

Bulgaria offers the opportunity to maximise the capital growth and rental yields. The cost of living is cheap. You are unlikely to have to spend more than 6 Euro per person on a 3 course meal with wine.

Bourgas International Airport is just 20-minutes drive to Sunny Beach Resort and Nessebar. Scheduled, charter flights and budget airlines now operate direct services to and from major European airports.

The figures mark the former Eastern bloc country out as one of the principal growth property markets in Europe. At a time when most countries are seeing the growth of the past few years ebbing away, Bulgaria expects this year to bring a 28 per cent increase on the number of homes sold last year which had also been a bumper year with 196,000 properties sold. Properties are set to raise 15 per cent more year-on-year, making it one of Europe’s highest growth markets.

A recent UK government report discovered that there was a 250% increase between 2000 and 2004 in the number of Britons buying property abroad solely for investment purposes, and this trend does not seem to be limited to the UK nor does it seem to be slowing down!

The global stock markets seem to be in decline, there is a world-wide pension crisis looming and we have uncertainty in the Middle East. In the UK the housing market is unaffordable, possibly over inflated and unlikely to bring significant returns for investors late in on the game and so more and more of us are looking further a field for our investment opportunities or the next speculative ventures.

The latest EU entrants are proving continued interest to the property investor as are those countries in line for EU ascension in January 2007.

The likes of Malta, Poland, the Czech Republic and Cyprus who joined the EU in 2004 were hot before they joined and have proved solid for investors already in the market and are looking safe bets for 2007.

Growth is set to be steady, the economies of these countries are improving and investor confidence is strong. Hungary, Slovakia, Bulgaria, Croatia, Turkey and North Cyprus who are lining up for ascension consideration in 2007 have solid emerging real estate markets which are proving of interest to the property speculator. Clearly the risk involved in investing in countries not already in line with EU fiscal and legal legislation is greater, however, so are potential returns.

The attraction of such markets to property speculators is quite simple. These countries are working hard to improve infrastructure, attract inward investment, stabilise their economies and promote tourism. Ultimately they are hoping for EU ascension as this brings with it vast potential for economic advancement.

In the meantime these countries often have deflated real estate markets offering incredible property bargains undiscovered with under-exposed tourism potential. All of which adds up to potentially significant returns for anyone interested in the real estate activity.

Property prices in Spain, France and Italy have already taken off, so the Bulgarian Black Sea coast increasingly attracts investors hunting for lower prices and higher yields.

Currently the Bulgarian authorities who conserve the country’s coastline are discussing legislation. It is expected to ensure a better balance between the natural and historical environment of new construction compared to Spain.

At least one low-cost airline Wizz Air has opened routes to the two main cities on Bulgaria’s Black Sea coast, Varna and Bourgas, more such as Easyjet and Ryanair should follow suit.

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