Property in Bulgaria, Houses, Apartments, Ski Property
Bulgaria
Property
Bulgaria
is situated in the north eastern section of the Balkan Peninsula and covers
an area of 11,.993 square kilometers. It borders on Romania to the north,
Greece to the south, Turkey to the south - east, Serbia and Montenegro to
the west and Macedonia to the south - west.
The Black Sea is the natural eastern border of Bulgaria and its coastline
is 378 km. long. Its strategic location, situated on a crossroads between
the west and the east is a prerequisite for its dynamic and progressing
economy and international trade.
Bulgaria is a quiet and largely rural country
in SE Europe, about the size of England but with a population of only around
8 million.
For years Bulgaria has been a number one destination for Eastern Europeans,
but only in recent years has it opened its doors to the rest of the world.
Its mountains, beaches and old fashioned rural tranquillity offer a glimpse
of Europe which has long since disappeared under the noise of traffic and
concrete in Western Europe.
Bulgaria joined NATO in 2004
and also the biggest thing that will happen for this country in history
is the fact that they will be members of the the European Union by spring
2007. This places Bulgaria as one of the leading property investment markets
for 2006 and beyond.
Bulgaria is an incredibly diverse country
with beautiful and unspoiled nature, spectacular landscapes and a unique
combination of mountains and sea, all on a comparatively small territory.
This makes it an attractive tourist destination, which offers vacation opportunities
to people of all ages and in all seasons. It is easy to reach via the four
international airports in Sofia, Bourgas, Varna and Plovdiv, the two major
sea ports of Bourgas and Varna and the international waterway along the
river Danube - the country´s border to the North.
Half of the territory of Bulgaria is covered with mountains. Rila and Pirin
are the tallest and are to be found in the southwestern part of the country.
Sparsely populated, with picturesque alpine lakes, both are perfect for
rock climbing, hiking, mountain biking, skiing, playing golf, spa or just
for taking a walk.
Bulgaria Property Investment:
Over the past year, property in Bulgaria has been the fastest growing asset
in the country. In 2003, property prices went up by an average of around
25%. Regions like Sofia,
the Black Sea beach resorts (Sunny Beach) and ski resorts of Borovets
and Bansko
experienced 50% - 100% increase.
The main reason for this increase in prices can be attributed to improved
economic conditions and political and social stability within the country
over the last 3 years. The rising interest in tourism has also been a major
contributing factor. Today, Bulgaria is considered to be the fastest growing
tourism markets in Europe. With EU accession in 2007 an almost certainty,
now is the right time to invest in Bulgarian property.
Bulgaria is a politically stable country, and the introduction of a currency
board in 1997 stabilised the country's economy. Bulgarian laws are improving
and changing in accordance with the laws in the countries of the European
Union, and it has one of the most liberal foreign investment laws in the
region.
Foreign investors can purchase property in
Bulgaria directly or through a local company. Only Bulgarian-resident
individuals and entities can own land, while non-residents personally may
acquire only buildings. Therefore, if foreign citizens want to invest in
property in Bulgaria, they must register a Bulgaria based company. The most
common type of organization for foreign investors is a limited liability
company. Other forms are companies limited by shares (joint stock companies),
joint enterprises, business associations, general partnerships, limited
partnerships, and sole proprietorships.
Property in Bulgaria offers a good investment
considering the long term prospects of the country and offers considerably
better value for money than in other European destinations. Majority of
the purchases in Bulgaria are for holiday homes, often with a view to retirement
in later years. However, there are an increasing number of investors who
are buying property now with a view to making a capital gain in the short
or long term. This increasing interest, along with other factors such as
the rise in tourist numbers and increasing awareness of the opportunity
makes Bulgaria one of the best places to invest in today.