For Capital Growth:
Bulgaria is one of the most rapidly advancing nations in Europe today, renowned for foreign property investment in its coastal and city locations. Average property prices have risen by an incredible 31% per annum over the past three years, and with accession to the EU in January 2007 Bulgaria’s strong economic growth (at 6% GDP for 2005/2006) is set to continue.
Between 2007 and 2009 the EU will invest 4.6 billion euros in the development of Bulgaria, the highest figure per capita ever given to any EU accession country. Improvements to the country’s infrastructure, alongside environmental controls preventing over development add to the already positive prospects for Bulgaria.
Large resorts such as Sunny Beach and Golden Sands situated directly on the Black Sea Coast are home to vast apartment blocks owned in the main by large corporations. These show the potential for development and tourism, but cater mainly for inexpensive all-inclusive holiday packages. The most recently identified property demand for purchase and rental is for higher quality villa style properties, in smaller, quieter resorts with sea views. With the emergence of new golf and spa complexes these smaller, slightly inland developments such as Osenovo Heights, are the ‘next big thing’ in Bulgaria, and where the shrewd money is now being invested.
For Rental Income / Tourism:
Bulgaria has shaken off its image as a hardy ex-communist state and is quickly becoming one of Europe's most popular holiday destinations. With tourists expected to exceed 20 million by 2010 (World Trade Organisation), Bulgaria is one of the world’s greatest emerging tourism markets.
Attractions for tourists and ex-pats include:
• 354km of Black Sea Coast with eleven “blue flag” sandy beaches. Perfect for swimming, the Black Sea is clean, non tidal and warm during the long Bulgarian Summers.
• 37,500km of hiking paths & mountain trails through Bulgaria’s diverse landscape. Medieval villages, striking churches, ancient ramparts and picturesque castles can all be seen in the hills and valleys.
• Rich, unspoilt flora and fauna, including 7 national parks, 3500 protected natural sites, 5 Ramsar sites (wetlands of International Importance), and 17 bio-sphere reserves. Exceptionally clean air and water resources, with more than 500 natural springs.
• Welcoming climate, with a yearly average of almost 300 days of sunshine on the Black Sea Coast. Temperatures averaging 27°C in the Summer months.
• Adventure sports: Water skiing, windsurfing and sailing on the Black Sea, climbing, paragliding and hiking inland.
• Vibrant, fascinating and historic cities, boasting an array of Roman, Ottoman, Byzantine, Turkish and Slav architecture.
• Roman, Greek and Thracian historical attractions, including nine UNESCO world heritage sites
• Easy access from the UK (2.5hrs from London), with increasing numbers of low cost airlines offering direct routes to Bulgaria from many UK and other European airports
• Fantastic quality of life, with the cost of living one of the lowest in Europe. A restaurant meal for two, made from local organic produce, including a bottle of good wine will cost no more than 7 or 8 Euros.