Vastgoed adverteren - Verkoop, koop, huur woningen, huizen, appartementen en gronden

Since the introduction of the currency board in 1997 Bulgaria has been politically stable country with a developing economy and the preferential conditions and guarantees for foreign investors have generated excellent business opportunities and investment growth potential. Bulgaria real estate prices are by far lower than other destinations in Europe but the acceptance of Bulgaria into the European Union in 2007 provides unprecedented growth potential that will certainly boost the prices of the Bulgaria real estate in the near future. Bulgarian market or real estate is still unexplored and undeveloped to a certain extent, which makes it very attractive and profitable.

Property in Bulgaria offers a good investment considering the long term prospects for the country and offers considerably better value for money than in other European destinations.

The majority of people who are buying property in Bulgaria are looking for holiday/second homes often with a view to retirement in later years although there are an increasing number of investors who are simply buying property with a view to making a capital gain in the short or long term. This increasing interest, along with other factors such as the rise in tourist numbers and increasing awareness of the opportunity.

REASON 1 - Rises of 24%-100% !

The general forecast is that property values in Bulgaria will continue to increase at a double-digit rate because of:

Mortgage lending potential - currently, mortgage loans are 5% of the total credit supply within the local banking sector. In developed markets, this rate is usually in the range of 15%.

Increased foreign direct and indirect investment in real estate - determined by the expected EU membership perspective and constantly expanding tourist industry.

Bulgaria is a country with extremely low real estate and land prices compared with Western European and most Eastern European states.

The harmonisation of Bulgarian legislation with that of the European Union means that the actual process of a real estate transaction in Bulgaria is not that much different now to the procedure that exists in other European countries, although there are still some major differences that need to be 'ironed out' if the market is to develop in a meaningful way.

In 1994 The National Real Property Association (NRPA) commenced activities, although with only 150 members out of some 2,000 existing real estate agents it does mean that to the 'unaware' practices can vary from shoddy to excellent! A good example of this is the 'two tier' pricing system in operation where a 'western' buyer will be quoted a higher price for the same property than would be quoted to a Bulgarian national. It is certainly a case of 'let the buyer beware'.

The costs associated with property transactions in Bulgaria are generally much lower than in developed economies, in spite of the problems that can arise, as are the running costs or the costs of refurbishment or improvement. All properties are bought freehold and more than 90% of occupied residential property is owner occupied.

Following Bulgaria's transition to a market economy the development of the retail property market has been difficult but steady and, with the initiatives to increase tourism, a large number of new construction projects have already been commenced along the Black Sea coast.

The real estate market in Bulgaria is (after years of transition from communism to a functioning market economy) just now starting to approach the conditions that already exist within more developed countries with respect to the processes of its own creation, market realisation and operation and to quantify it now as an emerging and independent new branch of the economy is probably quite valid.

With increased purchasing power will come product and asset price inflation. On the Black Sea coast this will additionally be fuelled by further growth in tourism with the increasing realisation of Bulgaria as being an acceptable alternative to say Spain, Portugal or Greece as a holiday destination and by increasing activity in the property market arising from interest by overseas buyers in owning a second or holiday home there or for retirement purposes.

Two areas that are likely to experience the biggest growth rates could be the more desirable areas in and around the major resort centres of Varna (Golden Sands) and Burgas (Sunny Beach) and also in other selected 'premium quality' locations on the Black Sea coast.

REASON 2 - 'FASTEST DEVELOPING TOURIST DESTINATION IN EUROPE'

In 2006 the tourism income increased by 25% - over 4 million visitors. This of course means their is significantly increased demand for property for all these tourists to stay in.

Projections for 2007 point to a near 30% growth of permanent employment within the tourist industry from the 130,000 currently employed. In addition are the seasonally employed workers. In 2006 tourism was practically all operated by the private sector with 98% of fixed assets in the sector being privatised.

The tourist sector is now one of the fastest growing industries in Bulgaria and, a recent survey undertaken on behalf of travel agent Lunn Poly, concluded that Bulgaria was the least expensive destination for short-haul breaks quoting a three course meal with wine as costing around £5.58 compared to £14.43 in Majorca. Commenting on the results of the survey, Lunn Poly retail director John McEwan said, "Being aware of the cost of living on holiday helps travellers make an informed decision about which resort suits their holiday habits. Bulgaria is quite new to the mainstream British holiday market, with more good holiday companies now including it in their brochures, but as it is such good value it's likely to do well".

As the euro continues to rise against the pound many tour operators are now expecting the price conscious British to increasingly start swapping their usual two weeks in the Mediterranean for breaks outside of the 'eurozone'.

As early as at the end of 1998 a major US consulting firm in Bulgaria undertook a survey asking foreign investors in Bulgaria to identify which sectors of the economy would provide the best opportunities for new entrants. Seven out of ten respondents pointed to tourism which is already a source of tax revenue 2 to 3 times greater than its share of national income even though much of the industry is characterised by a number of shortcomings and problems, chiefly that the facilities on offer being below those that would be expected using international standards as a guide.

All of that should change however due to the Marketing Strategy and Action Plan for Bulgarian Tourism prepared under the EU's 'Phare Program' which has started to encourage both private and public sector initiatives to build, restore, modernize and refurbish facilities and accommodation for tourists.

A report in the The Washington Post early in 2004 named Bulgaria as one of the world's top 10 international destinations of the year, alongside more predictable choices such as Botswana, the Bahamas and Ecuador.