Bulgaria Property Investments

Nov 16, 2005 - Property Directory

The investments in the Bulgarian economy are growing in the resent years. Most of the investments are coming from Western Europe, US and the government of Bulgaria. The reason for the increased interest in the Bulgarian economy is the forthcoming joining of the country to the European Union in January 2007. The investments are contributing to improving the country infrastructure, making stronger economy and increasing the overall attraction of the country.

All the improvements are strongly influencing the Bulgarian property market which is enjoying considerable growth. The real estate prices are continually rising and increasingly attract investments and here is more detailed information why this is happening:

1. Currently the property prices are among the lowest in Europe. You can find an apartment for as little as 20,000 - 40,000 euro. You still can still find old village house for 2,000 euro.

2. The average property price in Bulgarian has increased with 40% in 2004 and is still growing 2005. Here are more figures from the Bulgarian National Statistical Institute...

* one BG lev = 1.95 euro

3. Buying property in Bulgaria is going increasingly simple. Many foreign real estate companies are operating in the country. They offer complete off plan property investment packages including handling stage payments during the build process and property management. When the building is complete you can let those companies handle the property maintenance and rentals collection.

4. Freehold ownership for foreigners (non permanent Bulgarian citizens) will be allowed 7 years after the country join the EU in 2007 or 2008 at the latest.

5. For the past few years (2002 - 2005) the number of tourists is continually growing by up to 25%. Major tour operators offer package holidays to the country.