The latest booming property location which is attracting thousands of ordinary UK investors is Bulgaria.
Bulgaria, once only known as a satellite country of the Soviet bloc, is making its entry into free economy. Bulgaria is due to enter the EU in 2007 and has been a member of NATO for over 3 years.
The world is now discovering Bulgaria - a country that boasts beautiful beaches in summer and magnificent ski resorts in winter. Bulgaria is not too hot during summer and during winter is ideal for Skiing. Bulgaria is just a short flight from London and more airlines are adding it to their options every month.
Bulgaria has become more than a popular tourist destination. It is now the choice of many ordinary British people for their first home-abroad investment. Many have been attracted by the natural advantages of the Black Sea coast, always a prime holiday destination. Increasingly interest has turned to winter ski resorts like Bansko and Pamporovo. Of course, Bulgaria's capital Sofia also offers unique advantages for the property investor, with its chic suburbs like Boyana, Simeonovo and Dragalevtsi so close to the ski-slopes of Mount Vitosha.
The Black Sea coast
There is a large selection of "off-plan" properties to suit both the preferred location of each client and their budget. In the early days the Black Sea coast resorts were in high demand. They were generally reguarded as the new Costa del Sol. Several of these same developments are handled by different Real Estate companies in the UK, but not all of them have the required expertise in Bulgarian property promotion.
1,2 or 3 bedroom apartments, as well as studios, are on offer at various locations along sandy beaches. The bulk of which can be found on the popular Sunny Beach. Here, between the coastal cities of Varna and Bourgas, there are a close-knit group of resorts, Byala, Obzor, Elenite, Sveti Vlas, Ravda, each having its own special atmosphere. A great example is the Bay View Villas Development or the Avalon Aparthouse. North of Varna, towards Golden Sands, Albena, Balchik and Kavarna, where a number of new golf courses have been constructed, properties tend to be little more pricey, reflecting the more exclusive atmosphere of these Northern seaside resorts. mountain, sea and sun, as the perfect ambiance to relax.
Sofia
Sofia is a major city in SE Europe. Previously known as Serdica, it took its present name from the 5th century Church of St.Sophia. With its wide avenues and lush parks, its theatres, cafes and restaurants, its fashionable boutiques high-capacity 4 and 5-star hotels, and new shopping malls, Sofia has become an elegant city.
The investor
In the last two or three years, Bulgaria has been characterized as an "emerging market" and a “hot property spot", a group of discerning investors have already signed contracts for off-plan property in all the above-mentioned locations. Property values have already gone up as much as 30% in the past year. An increase of about 20% is quite likely within the next year. The number speak for themselves and it is easy to see why Bulgaria is so hot for UK, but also Ireland, Germany, Greece and other EU investors, all anxious to buy a base before the magic date of 2007, when Bulgaria is anticipating to join the EU.
