Búlgaría: Love Affair with Bulgaria’s Property Market Continues

Contrary to recent rumors that the Bulgarian real estate market is not so attractive to foreign investors any more, Andrew Regan, a Scottish online freelance author, comments that the Bulgarian property boom shows no signs of abating.
“Bulgaria's expected adoption of the Euro in 2011 means that investors need to move quickly to snap up the best deals. Bulgaria's recent accession to the European Union has vastly increased its attractiveness to British holidaymakers as well as investment property buyers. Real estate experts also predict an even greater demand for property when Bulgaria adopts the Euro in 2011,” the author said.

Investors are particularly interested in Bulgaria, as it is believed that EU money will be spent on improving the country's infrastructure. Bulgaria has seen a great deal of political reform since the Communist era, and the government has shown solid commitment to economic improvements, with GDP growth the highest in Eastern Europe.
Economic growth has also caused a vast escalation in land values, which have risen from just 20 euro a square meter to around 350 euro in some areas. The prospect of high profits has lured many individual and business investors from Britain, Ireland and Russia to buy ski and beach chalets, which can be purchased for a fraction of the price of similar properties in more traditional holiday areas such as France, Spain, Austria and Switzerland.

The high price of UK properties and the recent rises in interest rates have also led UK investors to widen their search for better real estate deals. Bulgaria continues to excite investors as it is an emerging market that offers property at prices that are unobtainable in other parts of the world. It is still possible to pick up property for as little as 30 000 euros, a sum which would buy little more than a garage in the UK.

Rising prices – and the likelihood of this trend continuing - mean that investments in Bulgaria provide excellent returns, especially if properties are bought in areas that are predicted to become more popular over the next decade.

Bulgaria's connection to the UK via low cost airlines has also added to its appeal as both a holiday destination and investment area. Flights from London Stansted to Sofia take around three hours. More routes are expected to open up soon.

Búlgaría: Mall Bansko Will Be Completed Until Summer 2008

The construction of the first mall trade center in Bansko was officially started on 11th of June. Mall Bansko has extended built-up area of 5576 square meters and is situated in the immediate proximity of the cabin lift and Kempinski Grand Arena complex.

Investor of the project is the American-Bulgarian company “Bansko Privilege Resort” Ltd. It is planned that the investment in the site, together with the project and the construction will amount to more than 5 million Euros. This was said by Georgi Razvigorov – one of the Directors of “Bansko Privilege Resort” Ltd.

This will be the first project of the “mall” type on the territory of Bansko Municipality. Nearly 30 shops on four of the floors are planned to be constructed. The building works will be completed in one year’s term.

The location of the trade complex, and the development of Bansko during the recent years are prerequisite for the development of such for a trade site project, servicing the golf and ski tourism, said representatives of the investor company. Among the tenants, there will be a bank, a mobile operator, and a photo services office. The sports shops and shops for professional equipment will be the most numerous ones in Mall Bansko. So far, interest has been demonstrated for 90% of the areas. The rent prices vary between 17 and 35 Euros per square meter, depending on the location and size of the shops.

The idea for the investment project arose two years and half ago. The design works began two years ago. Some alternatives were consecutively offered.

The trade-and-entertainment complex will offer entertainments and shopping opportunities. It will have four above-ground and two underground levels.

There will be three entrances for visitors – two of them will be for pedestrians, and one – for vehicles. There will be a road entrance for supply, as well as a service entrance. The evacuation exits will be three.

The complex has underground parking lots with controlled access, four levels of commercial areas, a panoramic restaurant and a casino on the highest level, with marvelous views to the mountain through the large glazing.

The volumetric-spatial design entirely conforms with the purpose of the site. Each floor is designed as a mix of communication and commercial areas.

The complex exterior design is entirely coordinated with the specific architecture of Bansko. That is why, natural materials were prepared for the construction – stone tiling, wooden hanged façade, glass and glass hanged facades, as well as architectural metal elements. Their balanced application, the harmonious combination of solid walls and openings, oriels and inclined planes make a complete and integral architectural image.

View Properties for Sale in/near Bansko.

Búlgaría: PROPERTY INVESTORS TURN ATTENTION TO SPA RESORTS IN BULGARIA

Vacation property investors are interested in the regions having mineral water deposits near big Bulgarian resorts. An increasing number of apartment buildings in the resorts have spa centres and promote the powers of mineral springs, said an article in mediapool.bg. A number of closed-type complexes are being built the region of Bansko winter resort, famous for its numerous mineral springs.

The complexes usually include a hotel part with spa centre and swimming pools and independent houses for sale. Prices of apartments in the town of Razlog vary from 1300 to 2000 euro per sq m.

Banya, located between Razlog and Bansko, attracts investors with its 70 mineral water springs, mediapool.bg said.

According to investors, eight closed-type complexes having total area of 50 000 sq m and three village settlements are being constructed near Banya. Prices exceed 1060 euro per sq m.

Property prices raised in the town of Dobrinishte, which is also located in the region. Plots are offered for 40 to 60 euro per sq m.

The region of Veliko Turnovo, where a number of balneological sanatoriums stood in the past, also sees the construction of spa complexes, mediapool.bg said.

Búlgaría: HOUSING PRICES IN BULGARIA GROW AT A HEAD-SPINNING RATE

New high-jump world champions emerged in Bulgaria - residential property prices. "Bulgaria is now the second in the world in property prices increase," real estate agents report. The leader is Latvia, according to Knight Frank UK survey for the second trimester of 2007 compared with the same period of 2006. From April to June housing prices in Bulgaria went up by 27,1%. For the same period last year the increase amounted to a 12,2%. The speedy price hike sends Bulgaria up by eight positions in the world chart.

Bulgaria Leads Property Boom on the Balkans

Twenty years ago few Brits would have been able to find Bulgaria on the map, let alone tell you anything about the country. Today, hundreds of Brits own property there and thousands more visit this Balkan gem every year.

Bulgaria has undergone an investment revolution over the last decade, meaning that property buyers looking for a good return and a holiday home are very keen to purchase in this former Communist state.

But what makes Bulgaria so attractive to investors? After all, isn't it possible to find similarly priced property in other Balkan countries such as Romania, Croatia and Serbia? Well, Bulgaria has led the way by building a number of high quality residential complexes that are available at low prices in areas that are very attractive to tourists.

Bulgaria has become more and more established as a tourist destination for the Brits - both in the summer /due to the Black Sea coastal regions which have Mediterranean-like temperatures and beaches and internationally renowned golf courses/ and in winter /due to the mountain regions of the Pirin, Rila and Rhodopa which offer skiing from 2000-2500m and have a ski season that lasts from December to May/.

Bansko, currently Bulgaria's premier ski resort, has been well received by British ski tourists who are looking for a great value ski trip which is vastly cheaper than going to France, Austria or Switzerland, and also a more culturally exotic destination. The fact that Bansko is now a well marketed and well known ski resort which is frequently featured in the ski press and national papers means that more and more skiers and snowboarders are heading out there. Bulgaria also has an enviable stretch of coastline along the Black Sea which attracts both holidaymakers and those looking to buy property in Bulgaria. Cheap flights have also assisted Bulgaria's popularity rise creating a quick, easy and affordable route for Brits.

Demand for real estate is also coming from the increasing number of international buyers who are working for multinationals in Bulgaria's capital, Sofia. This demand is helping push up the design and quality of the construction in the city.

As a well-marketed holiday destination with increasing tourist numbers for both winter and summer seasons, newly built infrastructure and cheap, quick connections to the UK it's no wonder that Bulgaria takes the lead on the Balkans by offering one of the best property investments in Europe.