Contrary to recent rumours that the Bulgarian real estate market is not so attractive to foreign investors any more, Andrew Regan, a Scottish online freelance author, comments that the Bulgarian real estate boom shows no signs of abating. “Bulgaria’s expected adoption of the Euro in 2011 means that investors need to move quickly to snap up the best deals. Bulgaria’s recent accession to the European Union has vastly increased its attractiveness to British holidaymakers as well as investment property buyers. Bulgarian real estate experts also predict an even greater demand for Bulgarian property when Bulgaria adopts the Euro in 2011,” the author said. Read more…
Bulgarian Property & Real Estate News
Investors switch from Russian to Bulgarian properties
Difficult conditions for home loans and high interest rates are making Russia’s property market less attractive, pushing investors to Bulgarian properties and also the Cyprus, Greece and Montenegro property markets, Russian daily Kommersant reported. The article describes the Bulgarian properties market as heaven for investors, who can expect high returns, an average of 20%-30% annual rise in property sale prices and low interest rates on mortgage loans. “Renting out makes it easier to pay off the credits,” the article adds. Russians’ interest in Bulgarian properties for sale is fuelled by the country’s good reputation as traditional destination for holidays.
Bulgarian real estate market to align standard with Europe
Bulgaria set up a special body that is to work for equalizing the Bulgarian real estate standards to those of the other EU member states, an independent branch organization announced Friday. The new committee is to regulate the activities of the Bulgarian real estate agencies and will help to diminish grey economy in the sphere, chair of the Bulgarian Real Estate Association Lachezar Iskrov said. Head of the regulatory body was elected Asen Makedonov, who is manager of one of the biggest Bulgarian real estate companies in the country. Read more…
Bulgaria property no.1 for growth
Bulgaria property has topped the latest Knight Frank Global Price Index in terms of annualised property price growth rates, it has been revealed. The study has revealed that price growth for Bulgaria property in the year to the third quarter of 2007 amounted to 30.6 per cent, putting it ahead of the highest country, Singapore, by three percentage points. Last year’s highest ranked country, Latvia, fell from 56.9 per cent to 10.9 per cent year on year, with Knight Frank saying that prices had begun to fall in certain parts of Riga. Read more…