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…
Bulgarian Property & Real Estate News
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…
Bulgaria Property – A Great Investment for those who can wait
Bulgaria property can be a great investment as long as buyers are prepared to wait for their property to appreciate in value, media in the UK claim. Director of Bulgaria property firm Knight International Jon Hill said that while it would take a few years for Bulgaria apartments and homes to appreciate, prices seemed to be moving up all the time.Although people should consider their individual circumstances when choosing where to buy, those buying merely for investment purposes could consider purchasing in Sofia or Borovets, he advised, as this was “an extremely good place to buy Bulgaria property at the moment”. Read more…
Bulgarian properties outstrip forecasts
Prices for Bulgarian properties rose 10-15% in January and February 2007, a growth rate previously expected to be achieved over the full-year period, said local real estate agents.The Bulgarian properties market seems to have skipped the traditional January lull and business is as dynamic as December, said Tihomir Tsakov, the owner of the Aristo real estate agency which operates exclusively in Sofia. The momentum from the back-end of 2006 has carried over into the first months of 2007, said Valentin Gradev from the Varna-based Gradev Bulgarian real estate agency. The Bulgarian real estate agent said the buyers were still keen to take advantage of Bulgarian properties prices which continue to lag EU levels. The same argument is used by sellers to jack up their price offers. Read more…
Equest takes investment in Super Borovets project
Investment fund Equest Balkan will acquire a stake on the development company behind expanding Borovets ski resort. The starting investment with be around 15 million euros and will result in the 51% shareholding. The company is acquiring the stake from Bulgarian construction company Glavbolgarstroi who just last year purchased the holding from the estate of the former banker Emil Kulev Read more…
Bulgarian Real Estate Investment fund Equest considering majority stake in Borovets project
Bulgarian real estate investment fund Equest Balkan is in talks with construction company Glavbolgarstroi to take a take in the company setup to expand and develop Borovets ski resort. Equest is currently debating at board level how to proceed and it is expect to sign a contract with Glavbolgarstroi which will confirm Equest as the majority shareholder in the Super Borovets project Georgi Krumov the director of Equest stated that they required a majority shareholding in order to be able raise the necessary financing for the Bulgarian real estate project. The result depends on a decision from Samokov municipality to confirm the transfer of Emil Kulevs land into the Rila-Samokov 2004 holding company. Read more…