Bulgaria Property News

Recent news from the Bulgarian banking sector confirms what many property investors have known for a while – investment potential in Bulgarian property is one of the best in the world.

Detached two bedroom villas at Seven Lakes, near the Bulgarian spa town of Dolna Banya, arguably offer investors one of the best locations in Bulgaria: 45 minutes from the capital city of Sofia, and only 15 minutes from Borovets, Bulgaria’s most popular ski resort, these golf villas offer strong potential for year-round rentals and mid to long term investment.

Last month Bulgaria's Directorate for National Construction Supervision (DNCS) announced 193 demolition orders for illegally constructed property across its coastline.

Bulgaria property investment has proven to be the country's economic driver with a record-breaking turnover of €11.36 billion in 2007.

Bulgaria, once a place that attracted bargain-hunting tourists looking for cheap booze and fake watches, is becoming ‘boutique Bulgaria’.

While Bulgarian buy-to-let properties are still in their infancy, there are strong pointers for a healthy future in the rental market.

The average house price in the UK according to Land Registry Figures from July to September 2007 is £230,474 GBP, a 9% rise on last year. Turn to Greater London and this figure shoots up to £377,807 GBP, a 14.1% rise on 2006.

Could any second home destination have it all? Sofia, the capital of Bulgaria, maybe? City teeming with culture – check. Booming investment hotspot – check. Popular ski resort – check. Quality golf courses – check. Serviced by low cost airlines – check. As an investment property destination Sofia has quite some attributes.

House prices in Bulgaria have risen by 27% in the past 12 months and are set to rocket further, according to the latest issue of Quest Bulgaria magazine.

During the last few weeks, Neil Lewis – CEO, Property Secrets has been travelling Europe in search of locations for his 200% club - Locations that have achieved, or are set to achieve, 200% capital growth over a five year time period.

Bulgaria’s beautiful Black Sea coastal town of Sozopol is becoming internationally acclaimed for the annual Apollina Festival of Arts which it is hosting this year between the 31st of August and the 9th of September.

Fully updated and expanded for summer 2007, the second edition of this best-selling Bulgarian property guide will help you find and buy your holiday apartment, investment property or rural retirement home in Bulgaria.

Piraeus Bank London, the UK branch of one of Greece’s leading financial institutions, Piraeus Bank, has launched an interest only euro mortgage product on Bulgarian property exclusive to the UK and Bulgaria.

Piraeus Bank London, the local branch of one of Greece’s largest and most successful banking institutions, Piraeus Bank, is pleased to announce that UK and Irish residents and expatriates who retain a bank account in the UK can now enjoy interest rates as low as 6.5% on Bulgarian mortgages.

Budget airline EasyJet has announced that a new direct route from London to Sofia will be introduced in November 2007.

Bulgaria’s property market has become synonymous with investment. A growth economy combined with EU accession, high levels of foreign direct investment, increases in tourism and low property prices make it a honey pot for those looking for strong capital growth and regular rental returns.

A seaside gated community with 18-hole championship golf course spread over 1,050,000 sqm of landscaped gardens with breathtaking seaviews, just 35 km from Varna International airport.

Lance Nelson, Managing Director of Jet2Let, takes a look at the Bulgarian real estate market six months on from EU accession from his base in Sofia and tells investors to “be selective”.

Jazz represents a merging of different people and cultures. The phenomenon spread across America and Europe merging with traditional music creating the basis for blues and ragtime from which jazz evolved.

Bulgarian and international students studying at one of the six universities in the campus town of Studenski Grad outside the city centre of Sofia have had little choice as to their accommodation until now.

The Bulgarian property market has certainly had its fair share of media attention in recent years with specific focus on the coastal holiday home market.

More and more international companies are moving to Bulgaria to set up regional headquarters and most of them are heading for the capital, Sofia. The influx of foreign businesses originally started after the fall of communism in Bulgaria in 1989, when major international companies not already present in the country saw an opportunity and moved in.

Bulgaria is now one of the most popular places to buy a home among Brits looking to buy abroad - and it is rapidly catching up with France.

Recognising a growing trend in the current Bulgarian property market, Bulgarian Dreams highlight that increasing numbers of investors are choosing to release equity from original purchases and re-invest in the country’s maturing market.

Bulgarian Dreams highlights that since Bulgaria entered the European Union in January 2007 the country’s residential property market has been boosted by increased sales and enquiries over last year.