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…
Bulgarian Property & Real Estate News
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.
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.
Sofia property market among world’s pace-setters
The Bulgarian capital Sofia ranks 49th in the global index of office rental markets released by international real estate property consultancy CB Richard Ellis. The annual rental cost for prime office property in Sofia is $517/sq m. Athens is the only city in the region ahead of Sofia property in the rankings. It placed 36th with annual rental cost of $567/sq m. 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…
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…
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…
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…