19 April 2007 12:00

Business Flash

Bulgaria: Attractive Real Estate Market
16 April 2007


EU membership has increased the confidence of foreign investors in the country's real estate sector across the board and a wider range of nationalities are expected to invest in the country in coming years.

Currently, 29% of real estate sales in the country are made to foreigners, mainly British (67%) and Irish (12%). Other EU members have been less enthusiastic about entering the market, with Germans accounting for 4% of sales and Italians 3%. In 2007, the majority of foreign purchasers is still expected to be British.

Particular areas of interest for individual foreign investors this year will be ski resorts such as Bansko, Pamporovo and Borovets. Black Sea resorts such as Albena, Golden Sands and Sunny Beach are expected to draw less demand as properties in these locations are considered to be profitable only in the summer. Negative press coverage of the perceived overdevelopment of the coast may be another factor, though many resorts are still investing heavily in holiday complexes, and many foreign firms are putting money into high-end developments such as luxury hotels and golf courses.
...
Last year, British real estate firm Assetz caused a stir in Bulgaria by saying that the Balkan country was a less favourable investment location than the UK and that the time for fast profits in the country was over. Assetz recently issued a report, listing Bulgaria as the third best country in Europe in which to purchase buy-to-let property. While the UK was listed above Bulgaria, with Poland taking top spot, Bulgaria came above Turkey and France, traditionally strong buy-to-let locations. Estate Agent Knight Frank lists Bulgaria in fifth place in Europe in house price growth for 2007.

Besides, Colliers International announced last week that the industrial real estate sector had received considerable attention in 2006, driven by logistics operators, manufacturers and traders. Bulgaria's location on five of the Pan-European transport corridors highlighted for development by the European Commission is one of the factors driving demand. Other factors include the rapidly improving economy, the boom in retailing and production and finally, Bulgaria's lower costs in comparison to the rest of the EU.

At present, 700,000 sq metres of modern industrial space are available in Sofia, while Plovdiv has some 250,000 sq metres and the coastal city of Varna about 200,000 sq metres. Rents for prime modern industrial sites range from $5.10 to $7.4 per sq metre, according to location and accessibility to transport links.

Atanas Garov, Colliers International Bulgaria's executive director, said he expected an increase of 220,000 sq metres of logistics space in Bulgaria this year, due to improvements in the transport infrastructure, particularly in Sofia and the southern city of Plovdiv.

Courtesy OXFORD BUSINESS GROUP

 

Words from Properties in Bulgaria Editor:

 

Taking the above into account we are pleased to draw your attention to some of our finest off-plan developments in Bulgaria. They are all primary located on the coast and in the mountain and offer off-plan price discounts, flexible staged payment plans as well as very good rental potential. But most importantly - they all are giving the investor the best value-for-money possible. Please take a minute to read below our special offer to our valued subscribers only. You won't regret it. Thank you for your time and consideration.
 
SPECIAL OFFER
 
KARVUNA Resort in Kavarna offers both freehold detached 4 and 5 bedroomed houses with own land, private garden and parking space and apartments. The unique location of this exquisite resort right on top of the beach and marina, having its own private cable car serving the residents and their guests to the beach, and the highest Western standard of finishing, makes this one a real bargain. Prices for the freehold 4 b/r detached house start for the standard package from 137,000 euros only (!). For the premium package, offering full furnishing plus 10% p.a. GUARANTEED rental return, prices start from 48,000 euros for 1 b/r apartment (!). By using this special one-time offer you could save up to 7,000 euros more by just acting quick reserving yours today - call us at our UK free phone 08000 33 60 11
 
BILYANA Sun Homes - a beach-front small 39 apartment complex in St. Vlas is yet another temptation for savvy investor. St. Vlas, becoming the jewel on the Bulgarian Riviera during the last years, was chosen for this one-of-a-kind residential/holiday development. Having nothing to obstruct stunning sea views yet being just few minutes away from the heart of Sunny Beach, Bilyana Sun Homes offers apartments and penthouses at fantastic value-for-money factor! Beach-front 1 bedroom apartment starts from 62,000 euros. And it comes with a FREE OF CHARGE underground garage! Don't miss the 10% p.a. GUARANTEED rental return option too (comes with premium package). Special offer to our subscribers only: reserve your Bilyana Sun Homes apartment today and get FREE furnishing pack! Call us today at our UK free phone 08000 33 60 11
 
EXCELLENCE Apartment Hotel in Pamporovo Resort adds to this portfolio of finest Properties in Bulgaria's developments incredible rental potential along with its exqusite design and finishing. Located at the very heart of Pamporovo Resort - a busy place all year round - right between the Church and the only 5-star hotel it makes the investor happy with its 6% p.a. GUARANTEED rental income for up to 6 years! And because it's also a small environment-friendly project -- 44 apartments only -- it will never be crowded in its restaurants, lobby bar, SPA and wellness centre. Prices for a studio-apartment there start from 53,314 euros and for 1 bedroom apartment - from 80,585 euros only! Special offer for our subscribers only: reserve your Excellence apartment today and get full furnishing pack FREE! (10,000 euros value). To reserve yours today call us at our UK free phone 08000 33 60 11
 
 

ACT TODAY AND SAVE!




KARVUNA RESORT

Beach-Front Four Bedroom FREEHOLD Detached
House with Land, Garden and Parking Space
from 137,000 euros
(~93,100 sterling)
click here
 
 
 
 
 
 
 
BILYANA SUN HOMES
St. Vlas, Beach-front apartments
from 62,000 euros
(~42,000 sterling)
click here



 

EXCELLENCE Apart Hotel

Pamporovo Resort, Apartment Hotel
from 53,000 euros
(~36,000 sterling)
click here
 
 
 
 
 
ACT TODAY AND SAVE!
 

 

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