Israelis will show interest in the purchase of second home and in smaller Bulgarian property projects. After its EU accession, Bulgaria attracts increasing number of Israeli investors looking for Bulgaria property. Initially pensioners will buy houses in Bulgaria. Younger investors would look for Bulgaria property in seaside and ski resorts, Monitor daily reported. Companies investing in Bulgaria property will turn to tourism developments, mainly in areas having mineral springs and the potential to develop spa tourism. Read more…
Bulgarian Property & Real Estate News
Property in Bulgaria offer many options
Property in Bulgaria is becoming very popular now that it has become part of the EU. According to Vector International a British investment firm “Foreign investors at analyzing tourist numbers, GDP rates, legal securities when buying Bulgarian property, wage coats and financing options” and this explains the reasons for the popularity of property in Bulgaria. Read more…
Bulgarian golf courses aiming for rapid growth
Bulgaria real estate developers have already realised the huge attraction of top quality golf courses. 5 signature golf courses – being designed by golf stars like Ian Woosnam, Gary Player and Jack Nicklaus – are planned in various parts of the country.
Bulgarian real estate investors have realized that by building a golf course in an excellent location and combining it with quality facilities such as spa and wellness centers, horse riding, tennis, skiing and so on, gives you an excellent all season product. Golf brings to Bulgaria property investors something more up market and not associated with the more broad market budget type locations such as the Black Sea coastal resorts. Read more…
More development planned for Borovets ski resort
A second project similar to the big project “Super Borovets” it is planned by the businessman Hristo Kovachki. It will be located around the areas of Mala Tsarkva, Govedartsi and Maliovitsa which are not fair from the existing Borovets ski resort. The conceptual design plan for the area is currently being worked on and is expected to be ready by May this year. The joint venture Nadar 2006 was created last year to invest in the project. 50% of the investment is owned by Samokov municipality and the other 50% is owned by El-El Impex a company owned by Mr Kovachki.
The concept is to build 5 new tourism centres, which will cater for 8-10,000 tourists. The new resort will consist of three main zones, with 50-70 km of new ski slopes. The total investment is significantly larger than the amount invested in the Boriko area of Samokov which was over 12 million euros. Read more…
Property in Bulgaria still listed as top investment
Property in Bulgaria has been listed as the 3rd most profitable location for buy-to-let investors, following after Poland and the UK, according to a report from property investment firm Assetz. Investing in property in Bulgaria is followed by France, Turkey and as the top property investment locations. Poland offers in excess for 150% return, with the UK showing 60% returns and Bulgaria over 50% return on investment. Read more…
Big plans for Borovets ski resort
Several investment projects have been announced for the Samokov/Borovets ski region. The project known as Super Borovets, Mr. Hristo Kovachi and also the TIM group are all planning projects in the area. When compared to Bansko which has had some serious development over the last 2-3 years, Samokov and Borovets are calm, relaxed and seriously underdeveloped. In Bansko you is bombarded by daily announcements of new projects, new spas, new golf courses and complexs that begin to stretch the imagination. The Bansko area is littered with building materials and half constructed complexes. In Borovets it is pretty much mountains and forest with the odd hotel or development dotted around the place.
While still underdeveloped, this is positive for the Borovets area as it remains natural and unspoilt compared to the disastrous overdevelopment that has occurred in Bansko.
Still several new projects are planned for the Boroevts area. Super Borovets kicked off this month. The major shareholders in Super Borovets are the Equest Investment Fund and the Samokov municipality. The local council expect that the project will transform the area into one of the top alpine resorts in Europe.
Hristo Kovachki is also planning several developments in the area and is expected to link with the TIM group of companies to develop a rival ski resort to the Super Borovets developers.
A major investment is expected in the area by Mr Kovacki as over the next 3 years. He plans to construct a luxury hotel, news ski pistes and a sport and leisure centre in the area.
Bulgarian real estate still popular with UK and Irish investors
Bulgaria continues to be one of the favourite countries for UK real estate and property investors. Altough there has been some recent negative comments regarding corruption in Bulgaria, British real estate buyers are continuing to invest in Bulgaria. Last year almost 30% of Bulgarian real estate deals have been concluded by foreigners, with UK buyer reaching 30% of the total. American buyers are involved in just over 5% of the Bulgaria real estate deals with the Germans and Italians next in line. Read more…
Tips for buying ski property in Bulgarian ski resorts
The Bulgaria property market has popped up in the news again over the last few days, with the Bulgarian properties in ski resort being main focus for the commentary.
Commenting in Britain’s Telegraph newspaper, Nicola Venning also discussed ski property in Spain’s Sierra Nevada region which is one of the most southerly ski resorts in Europe. Ski property in Spain is not what you normally think about with coastal beach property investments being much more popular in Spain. Similar to Spain, Bulgarian ski resorts are in strong demand at the moment. An increase in the number of flights from UK and Ireland has led to a surge in investment along the Black Sea coast and also in the mountain ski resorts. More direct flights are appearing all the time with the latest expected to be between Dublin and Sofia and also Dublin and Burgas.
Ms. Venning has pointed out that Bansko is an ideal ski resort for property investment, as it has recently installed new ski lift as part of a multi-million development plan which has seen the pistes increase to 65km long. Bulgaria has a lead for other ski locations in that a ski property can be purchased for little more that 20,000 euros. This combined with EU membership and a possible bid for the 2014 Winter Olympics mean that prices as sure to rise very quickly.
Bulgaria’s Tourism Agency has offered strong support for the Sofia 2014 bid. Sofia Mayor Boiko Borissov has signed an agreement called for cooperation between the city agencies and the tourism agency to maximize the success of the Olympic bid. The bid offer a selection of venues for the competition with events being spread between Sofia and the ski resorts of Borovets and Bansko. The overall cost of hosting the games is estimated and 1.2 B euros. The other cities competing in the first round are Salzburg, Sochi, Borjomi, Almaty, PyeongChang and Jaca.
Competing for the winter Olympics has helped to boost demand for Bulgaria ski property.
UK first time buyers consider buying Bulgaria Property
Bulgaria Property, Turkish real estate and locations in northern France are currently the most popular overseas destinations for UK first-time buyers. They are buying one or two bed bulgaria apartments for around 60,000 pounds and if you are interest in a ouse in Bulgaria you can get these for between 60,000 and 80,000 pounds. Because they are so much cheaper than UK property prices, bulgaria property and bulgaria apartments are becoming more and more popular for first time buyers. Read more…
Bulgarian properties – prices rise again
Prices for Bulgarian properties rose by almost 10% in January and February of this year. Joining the EU has been the main reason for the increases. The demand for bulgarian properties continues to grow, driven by the increasing number of young people looking to buy housing, while supply is limited. The trend surprised Bulgaria real estate insiders, who expected prices to remain flat this year especially as they have risen so much in the run up to accession. Read more…