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>Bulgaria is still attracting the shrewd investor Bulgaria is still attracting the shrewd investor 14 January 2007 Bulgaria is still being marked as among the top European destinations for the overseas property investor in 2007. It ranks as highly as Cyprus according to foreign exchange experts and leading property investment companies. This low cost affordable destination is still very popular with the Brits and its European neighbours despite the ever increasing volumes of development schemes along its costal shores. Much development is also taking place near its capital Sofia and this continues to attract buyers alike with its diverse cultural environment. The competition to buy low cost properties that show a valuable rental yield is not diminishing, with buyers coming from all over Europe and America. The strong economy in Bulgaria and the EU membership make its currency strong and the ever increasing demand for off plan and completed units still proves to be a wise investment for anyone looking for buy to let opportunities. In comparison to other European countries, Bulgaria is still attracting the shrewd investor. Its diversity of tourism means it has plenty to offer for ski and sun lovers alike. The prices of these luxury apartments and villas available started to show a substantial return 2 years ago and there is no sign that the trend is slowing down. The property market there is by no means exhausted, and with the continual financial support being offered, there is still plenty of money to be made.
Dnevnik Daily
Spa and Golf Tourism in Bulgaria Have Development Potential Sofia Echo, 16th January 2007 The number of tourist visits to Bulgaria in 2006 is nearly seven per cent higher than the number of visits for 2005, deputy head of the State Agency for Tourism (SAT) Stanislav Novakov said. Bulgaria had the potential to develop year-round tourism opportunities, Novakov said as quoted by Novinar newspaper. The country had already established its summer and winter resorts, Novakov told participants of the Bulgaria- Dream Area forum. Among the other types of tourism the country could develop were golf, spa, cultural and eco-tourism said he. Tourists were becoming increasingly interested in planning and carrying out a vacation on their own, rather than depending on fixed opportunities, said Novakov. Tourism featured among the priority sectors of Bulgaria’s economy, Novinar reported. It formed nearly 14 per cent of the GDP, tourism sector representatives said. Revenue from foreign tourist visits in 2006 exceeded two billion euro. Nearly 170 000 people were constantly employed in the tourism sector, Novinar reported.
Property Prices Up in Bulgaria`s Resorts, Despite Impressive Supply Sofia echo, 3rd January 2007 Vacation property in Bulgaria appears to be inexpensive for foreign buyers and for wealthier Bulgarians, which leads to further price increases. Despite the construction boom and intense property offering prices remain high, 24 Chassa daily reported. Property in Bansko winter resort and Sunny Beach coastal resort registered highest price increase percentage. Imot.bg reported that investors have to spend now 20 per cent more on property in the two regions as compared to values for January 2006. Bansko is the winter resort that offers most property for sale. A number of investors have also turned to Pamporovo and Balchik. Investors were mostly interested in two-bedroom apartments. Nearly 200 such apartments are offered for sale in Bansko. Prices have reached 919 euro per sq m. The price of luxurious property exceeds 1000 euro per sq m.
Residential Prices in Bulgaria Up by 15% in 2007 15 January 2007 Average price levels of residential properties on the middle market in Bulgaria will increase by 5% - 10% in 2007, the first year of the country's EU accession, experts say. Luxurious newly built apartments and properties at key locations will command a higher increase in prices - an average of 15%, according to realtors' forecasts. Low prices, long-term investment prospects and changes in lifestyle fuelled record-high property sales in Bulgaria for 2006. The forecast for this year is that the property transactions will reach 260,000, at a combined value of more than €5 billion. The experts comment that following the massive 25% to 30% annual capital gains of recent years, Bulgaria's property market is now showing a much more realistic growth rate of 15% so far this year, setting the pattern for more predictable and sustainable long-term investment.
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