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Bulgarian Property & Real Estate News

The search for something different brings British investors to buy Property in Bulgaria

The usual favorites of UK property investors, Spain and France seem to be dropping in popularity in the face of competition from new emerging property markets such as property in Bulgaria, Cape Verde and Dubai. The latest property report, from currency dealers HiFX, puts the trend down to a search by UK buyers for more interesting property investment locations. Property in Bulgaria has been especially popular recently.

“In a lot of scenarios the developing markets offer properties, which are a lot cheaper than more established locations” says Mark Bodega, marketing director of HiFX, commented. “As property prices have continued to rise quickly in the UK over the last year, as well as rising interest rates, we have noticed that overseas property investment has become increasingly popular with UK buyers” Read more…

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Residential Property in Bulgaria Up by Up to 15% in 2007

Average price levels of residential property in Bulgaria will increase by 5-10% in 2007, experts say. Luxurious newly built Bulgaria apartments and properties at key locations will command a higher increase in prices – an average of 15%, according to realtors’ forecasts for the country’s first year of EU membership, cited by 24 Hours daily. Low prices, long-term investment prospects and changes in lifestyle fuelled record-high sales of property in Bulgaria for 2006. Bulgaria apartments were especially popular with foreign buyers.  Read more…

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Sofia is Europe’s Cheapest City for Bulgaria Apartments

Monaco is the most expensive location to buy a super-luxury apartment in Europe, followed by Prime Central London, Paris and Amsterdam, say the experts from Global Property Guide, who maintain the world’s single biggest collection of house price indices.  Sofia is at the bottom of the ranking with prices averaging EUR 1, 042 per sq.m. for Bulgaria apartments in Sofia. Other less expensive locations are Slovakia’s Bratislava (EUR 1,292 per sq. m.); Warsaw, Poland (EUR 1,175 per sq. m.); Skopje in Macedonia (EUR 1,125 per sq. m.) and Chisinau in Moldova (EUR 917 per sq. m.). Read more…

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Property in Bulgaria Still Ranks in Top 3 Property Investment Hotspots

Property in Bulgaria is still being marked among the top three European destinations for the overseas property investor in 2007, ranking next to Cyprus, say British experts.

Property investment company Principal International forecasts that property in Bulgaria, described as a low cost and affordable destination, will remain very popular with the Brits and its European neighbours despite the ever increasing volumes of development schemes along its costal shores. Read more…

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Bulgarian Tourism Braces Itself for 8 Million Visitors per Year

The Bulgarian tourism sector has set an annual target of eight million tourists, double the number of visitors this year, the regional development minister said. Minister Assen Gagauzov joined the sixth edition of the major Bulgarian tourism event “Bulgaria Dream Area”, which highlights the challenges the sector faces after the accession to the European Union. Bulgaria’s tourism sector generated more than EUR 2 B of revenues this year from four million visitors. The sector accounts for 14% of Bulgaria’s GDP and creates more than 140,000 jobs. Read more…

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UK buyers looking at Bulgarian Properties

Over 15% of all UK overseas investors are thinking about buying property in Bulgaria or Romania. As a result of both countries joining the EU at the start of the year eastern Europe is now one of the property investment hot spot. According to overseas property group MRI accession to the EU is a major factor in boosting investment in property in Bulgaria.

Trips by foreign tourists to Bulgaria went up by over 8 % last year, to almost 1.5 million visitors. There was also a significant boost to Romanian tourism.

MRI has commented that similar to other eastern European countries that have joined the EU, Bulgarian properties are likely to experience stop growth over the next few years

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Britons Eye Property in Bulgaria

One in seven Britons is considering purchasing property in Bulgaria or Romania, following the countries’ EU accession at the beginning of this year, according to a new survey. “Bulgaria’s official inclusion in the European Union is a key opportunity for investing in property in Bulgaria ” commented John Triton, a sales director at MRI Overseas Property. Read more…

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Properties in Bulgaria increase by up to 15% annually in 2007

The average price increase for property in Bulgaria will be about 10% in 2007 according to Bulgara real estate agents. Higher quality top end Bulgaria apartments and properties in certain locations will achieve higher prices and average an overall increase of about 15%. Bulgaria’s expected entry into the EU combined with cheap prices and strong investment potential has led to record sales of property in Bulgaria during 2006. Bulgaria apartments were very popular with foreign investors and the total value of Bulgaria real estate transactions for 2006 comes to more than 5 billion euros. The latest data from BulgarianProperties, a leading real estate agent working mostly with foreign property buyers suggests that the strong demand is going to continue in 2007. Read more…

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