The Bulgarian ski resort of Borovets is listed in 6th position in the Sunday Tribunes Top 10 property investments for 2008. Dubai ranks first on the list as one of the world’s fastest growing cities. Also included are: Ibiza, Poznan, Toulouse, Geneva, Orlando, London, Hurghada and Silver Coast. Bulgaria property has been one of the hottest property markets in Europe for the last couple of years. But in the haste to snap up a bargain, the Bulgarian property market in some parts of the country has become a little too crowded and overdeveloped. 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.
Bulgaria property no.1 for growth
According to the latets Knight Frank House Price report Bulgaria property currently has the fastest growth rates. Overall prices for Bulgaria property in the period up to Q3 2007 has risen by almost 31%. This is just behind the quickest growing country Singapore where real estate prices grew by some 34%. Knight Frank has cautioned to be careful in certain parts of the Bulgarian market as it believe that areas like Bansko and the Black Sea beach resort are reaching saturation and supply of properties in these areas now exceed demand. In other news it predicted that UK and Irish overseas property ownership will double within five years. Read more…
Next year will see a 40% increase in Bulgarian property sales to foreigners
Foreign property investor interest in Bulgaria property will rise by 40 per cent for 2008, according to the forecasts of Bulgarian real estate consultants.An increased level of proficiency and boosted quality of customer service will guarantee Bulgaria property its ranking among the top three preferred destinations for real estate investment throughout Europe, officials from the Moscow subsidiary of international real estate consultants BG Estates Worldwide declared following the 17th international property exhibition, DomExpo, held in the Russian capital. Read more…
EU accession helps boast Bulgarian Property market
Joining the European Union has helped increase the confidence of Bulgarian property investors. Well know property investment website Buy Association claims that Bulgaria was already one of the most popular property investment locations in eastern Europe, but by joining the European Union it is now much easier for foreign investors to buy Bulgarian property and apartments. The local real estate laws are now comparable with those in Western Europe and this gives greater protection to buyers. Combining this with the increasing availability of mortgage finance means that Bulgarian apartments and investment properties a being snapped up by many investors. The increased popularity of Bulgarian properties and apartments comes from the fact that prices have risen rapidly in more development markets like Portugal and Spain. Coastal properties on the Black Sea, ski property developments and bulgaria apartments are said to be the most in demand at present.
Bulgaria property prices increase at record rate
The Bulgaria property market has listed second highest increase in prices globally in Q2 2007. According to a new global property survey, Bulgaria property prices jumped by over 27% in Q2 of this year, increasing by almost 15% compared with the same quarter last year. The impressive growth pushed Bulgaria property up eight spots in the Knight Frank review. Global real estate prices increased almost 8% annually in the 2nd quarter of 2007, according to the report. House price growth across much of Europe has stalled or begun to fall. Strong countries from previous years have seen their growth rates slow noticeably. Price drops have continued in countries like France, the Netherlands, Denmark, and Switzerland. The German property market also continues to stagnate, with y-o-y price growth having dropped for the last four quarters. Bulgaria property was one of the few areas to buck the trend.
Bulgaria property sales to expats up 10%
So far this year Bulgaria property sales to Bulgarians working abroad have increased 10% , said local Bulgaria property agency Address. The number of transactions spikes during the summer period when they arrive here for their mid-year holidays. Address distinguishes between several types of expat customers, depending on their career status abroad. Read more…
Interest Only Mortgages For Bulgarian Property Market
Pireaus Bank is now offering interest only mortgages for people buying Bulgarian properties. Many foreign investors are buying Bulgarian properties off-plan with a view to obtaining capital gain and rental income from tourist rentals once completed. Piraeus Bank London, the UK branch of Greece’s Piraeus Bank, has launched an interest-only euro mortgage product on Bulgarian property exclusive to the UK and Bulgaria. Read more…
Bulgarian properties desirable to foreigner investors
A recent property investment report has listed Bulgarian properties as the number 3 most desirable residential property investment in Europe. The report published by the GPG guide checked several countries to assess the most attractive locations for overseas investment. Bulgarian properties came position 3 with gross rental yields of up to 11%, strong economic improvements and cheap prices. Slovakia was the country in the first position with very cheap house prices, a strong growing economy, and low taxes. In second position was Turkey.
This popularity has resulted in over 300million euros of Bulgarian property purchase in Q3 2007. Foreign investors and property companies have made significant investment in Bulgarian properties during the first quester. In the same period of 2006 just 200 million euros was invested in Bulgarian property. Bulgaria real estate buys accounted for almost 40% of all foreign direct investment during Q1. During 2006 foreign investors purchased some 1.2 billion euros of Bulgarian real estate. British buyers remain one of the largest investment groupings in te country and they are focusing mostly on coastal beach properties along the Black Sea coast.
After Britain other large investors come from Greece, Ireland and Spain. Since joining the EU in January of this year there has been increased interest in Bulgarian property
Bulgaria property ranked 2nd for investment returns
The United Kingdom currently generates the best return according to the last research from Assets International real estate agency. Bulgaria property is a close second according to the survey. The research which is released each quarter ranks Bulgaria property as the second best globally to profit from property investing. Only the UK property market is current ranked higher. The other countries listed in the top 5 are Cyprus, Canada and Cape Verde.
In a separate report from the Buy Association website it is claimed that popular holiday destinations like France and Spain are becoming less popular with British pensioners. Instead pensioners from the UK are looking at emerging property markets like Bulgarian property. According to the editor of the website people are starting to look at Bulgarian property , because the local infrastructure is improving, more regular flights are available and things like medical facilities become more modern. The popularity of Bulgarian property is helped by the fact that the climate is very moderate compared to the UK with much less rain and warmer temperatures.