Property Information for Bulgaria
After years of poor economic performance and political instability, Bulgaria has come into its own in recent years. One of the most talked about destinations for holiday home buyers looking for healthy capital gains, Bulgaria saw around 36% growth in 2005, according to the Institute of National Statistics, and around 27% overall in the first quarter of 2007. This is in large part due its recent accession to the EU, which is bringing in more infrastructural investment and judicial protection for foreign investors.
Interest rates have fallen and the local mortgage market has become far more competitive in the last year or two. As wage levels rise, and domestic demand for mortgages builds, the resale market should provide more liquidity for foreign buyers. While the majority of foreign buyers in Bulgaria are still British and Irish, Russians, Scandinavians, Germans and Poles are buying as well – which is all helping to push up prices. Tourism is not only creating jobs but also supporting jet to let investment. Last year, 4.6 million tourists visited the country, according to the World Tourism Association.
Investors have poured into the Black Sea coastal resorts like Sunny Beach and Golden Sands, but there are still many areas that are either under-developed or still seeing growth – like Varna, Burgas, Plovdiv, as St Vlas and the capital Sofia. Ski resort areas like Bansko, Razlog and Dobrinishte have attracted a lot of interest and also offer spa resorts and facilities.
Biala Seagull Estate, a frontline gated development in a village situated between the airports of Varna and Burgas, is close to two sandy beaches, a harbour, vineyards and a fish restaurant by the sea. Biala is a traditional unspoilt village set away from existing development areas and will benefit long term from a low rise urban policy.
Avda. Lepanto nº. 13, 03730, Javea, Alicante, España
Freefone: (+34) 900 505 667 | Tel: (+34) 96 579 5534
info@worldclasshomes.co.uk
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