Bulgaria Property News

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.

Over the last few years the Bulgarian property market has been maturing with greater numbers of European and American secondhome buyers and investors attracted to the low cost of living in the country and high quality developments. Bulgarian Dreams, the UK’s leading agent in Bulgarian real estate, highlights that now, following the Spanish and Portugal model, golf courses are the latest craze.

In its first three months as an EU member, Bulgaria has seen average residential property prices rise by over 9%. The Eastern European hotspot has seen average prices rise from 904 lev sq.m in the first quarter of 2006 to a high of 988.2 leva sq.m according to data from the National Statistical Institute (NSI).

Embracing the benefits of today’s technology, Bulgarian Dreams, the UK’s premier agent of Bulgarian real estate, has developed and utilised a number of new technologies for the benefit of their clients and potential purchasers.

Imoinvest has just launched onto the market the first phase of some exceptional new homes which offer owners the best of both worlds – golfing within sight of the sea.

You probably keep hearing about the money to be made by investing in property in the new emerging markets of the former Eastern Bloc countries, but perhaps the thought of the stress involved in the whole buying procedure is putting you off.

Over the past few years Bulgaria has earned a reputation as one of Europe’s most popular ski destinations especially for those seeking a cheaper alternative to the Alpine resorts.

In a bid to help Britons buy homes in Bulgaria with more confidence, a new campaign to rid the country of rogue estate agents has been launched.

Specialist agents Jet2let Property are pleased to announce that for every viewing trip to Bulgaria there will be a carbon offset of the return flight, approximately 1,200kg CO2.

The first build phase of Mountain View Apartments, Sofia, sold out within six months of coming onto the market last year and MHK International will be launching phase 2 in April 2007.

The concept of gated communities dates back to prehistoric times when man lived within the secure parameters of a cave dwelling. Through the ages this developed into groups of peoples living within fenced areas, city walls and fortresses however as the global population exploded and people began to group together in vast numbers in urban areas then traditional barriers could not be kept in place and sprawling suburbia was born.

This week Savills International is launching Black Sea Rama, an exclusive gated community, located on Bulgaria’s up coming Black Sea Coast, providing a number of accommodation options, ideally designed for holiday or second home owners.

The village of Aheloy on the Black Sea coast of Bulgaria is perhaps best known for its fertile soils, healthy climate and flourishing pastures, orchards and vineyards. Tasty red and white wines are locally produced and farms grow organic fruit and vegetables.

The Sofia International Film Festival, although relatively unknown in the UK, is one of the largest festivals of its kind in south-east Europe. The March festival celebrated its 10th anniversary in 2006 with an ever growing following and with increasingly diverse content.

Buying off plan can be a risky business and it is therefore refreshing to know that Our Home Abroad now bring to the market an off plan investment opportunity in Pamporovo that has all the hallmarks of a first rate investment opportunity and still manages to offer investors total peace of mind.

Magnolia in the emerging ski resort of Pamporovo in Bulgaria is selling fast! Having sold all of its phase one apartments in just 25 days, 30% of phase two sold within just two weeks!

Bulgarian ski resort, Pamporovo, is the happy recipient of the 255 million euro ‘Perelik Project’ encompassing new pistes, ski lifts, artificial snow equipment, hotels, car parking places, a possible golf course and 100km of new highway connections. ‘Perelik’, planned for completion late 2007, is predicted to boost tourist arrivals by a mammoth 40% for the next ski season.

Apartments next to New Bulgarian University, Sofia, from 48,000 euros - perfect for renting to the lucrative and reliable student population.

Ask any Brit what the first thing they think of when asked about Bulgaria and they will probably say “property”, closely followed by “skiing”. But is that all that Bulgaria’s famous for?

Thousands of skiers and snowboarders are changing their holiday plans and visiting the resorts of Bansko, Borovets and Pamporovo in Bulgaria this season due to poor snowfall in the traditional Alpine resorts.

MHK International are currently registering interest in phase 2 of the luxury ’Mountain View Apartments’ development in Sofia which will launch in February 2007.

UK-based investment advisory company and property developer, Westhill, has sold two significant sites of regulated land in and around the historical Bulgarian city of Plovdiv to The Lewis Charles Sofia Property Fund for 3.55m euros.

If you are looking to purchase a buy to let property in Bulgaria then rental returns are of high importance. Many agents and developers offer rental return guarantees over a fixed period of time from completion which can offer purchasers additional peace of mind (assuming of course that they have not paid over the odds for the property in the first place to accommodate these returns).