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Why Invest Bulgaria has one of the lowest costs of living in the whole of Europe. And that's refelected in its property values which are the very lowest in Europe. Where else in Europe can you find a property for the price of a car? Its Black Sea Coast has a great summer climate, there are virginal beaches and rocky peninsulars, mountains and fertile plains, vast, slumbering forests of oak and beech, a very special heritage, some great cuisines and, I suspect, some interesting Business Opportunities including eco-tourism Bulgaria entered the EC on January 1 this year. Ask any shrewd investor what that means - truckloads of Euros pouring in to further improve the country's infrastructure (for additional info see below). Look at what happened consequently to property prices in Ireland or more recently in, say, Chechoslovakia As a result there's been massive international investment in resorts such as Sunny Beach and more recently relatively isolated Ozbor. These areas wouldn't be my priority. There are major issues about poor planning, density, lack of overview and, perhaps most importantly, probable major over supply. But thousands of very satisfied Brits would out-vote me on this My own view is that a relatively small investment in a second holiday home must bring capital growth and, according to Knight Frank, average prices in the first quarter of 2007 showed a 22.6% increase. Some will investors will have seen less and the canny investor will, of course, have seen more. Granted that Bourgas and Varna airports are currently not the very cheapest locations on a £ per mile basis but a condition of EC entry is that Bulgaria frees up its air space. A quick scan of the Sofia Echo (see Links) reveals the following low cost carriers launching in 2007: - Norwegian Air Shuttle from Oslo - Danish Sterling from Copenhagen - German Wings from Cologne, Berlin and Dusseldorf - Austrian Airlines from Vienna - Irish XL Leisure from Knock to Bourgas. German company Fraport Twin Star is renovating Bourgas Airport. And the Russians keep on coming. Word in the Mehana is that Easy Jet is about to muscle in. Once this happens access will increase. And so too will properties - purchased in the right location. To quote Gloria Gaynor The only Way is Up. (I'd really rather you didn't - Ed)
Additional Info The EU will be investing a further 41.5 million Euros between January 07 and April 09 principally towards cultural heritage protection, education and health care improvement. Source: investor.bg, via the Sofia Echo |
