Bulgarian property is still one of the best investment options in Eastern Europe remains the runaway leader. Investors in Bulgaria are currently receiving over 80% return on investment in Bulgaria real estate. Other markets such as France and Cape Verde are still popular with UK buyers accordingly to the latest report from Assetz real estate agency. In Eastern Europe however Bulgarian property remains the favorite market as property investors go in search of higher yields and larger profits. With the growing availability of mortgage finance many buyers are now trying to leverage their purchases and in some cases are using financing to purchase more than one property. Local Bulgarian buyers are also getting on the mortgage finance bandwagon and this is further driving up the sales prices. Local estate agents make clear that investor should carefully assess the expected rental rates and occupancy levels before deciding to purchase using a mortgage.
Bulgarian Property & Real Estate News
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.
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.
Israeli second home buyers interested in Bulgaria property
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…
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…
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…