Bulgaria
With stunning beaches and the largest unspoilt mountain ranges in south east Europe there is plenty of appeal for visitors and for those thinking of buying property in Bulgaria – not least of all the price. Compared to more traditional Mediterranean destinations such as Spain and Greece, prices for food, drink and property in Bulgaria are an absolute bargain!
SHORT INFO
Capital City: Sofia
Area: 110,019 sq km / 42,822 sq miles
Population: 7,358,000
Time Zone: GMT +2
Country dialing code: 359
Currency: Bulgarian Leva (Lv)
Climate of Bulgaria
Bulgaria has a typically Mediterranean climate with dry hot summers averaging in the low 30Cs. Winters tend to be cold with plenty of snowfall, especially at high altitudes – great for skiing enthusiasts.
Bulgaria country highlights
Sofia, the capital of Bulgaria, consists of a contrasting mix of architecture, from the beautiful 20th century Alexander Nevsky Cathedral (a symbol of the city) to less inspiring post World War II blocks. Rising above Sofia is the Vitosha Mountain, the most visited in Bulgaria. The known resort of Aleki is a popular destination for skiers looking to stay within easy reach of the capital. The Black Sea Coast is increasing in popularity as people discover the delights of its golden sandy beaches and established infrastructure for tourism and is one of the key areas for buying property in Bulgaria.
Accessibility
In September 2005 Wizz Air, one of the world\'s newest low cost airlines, began thrice-weekly flights to Sofia from Luton airport, offering return prices from as little as ?40 per person (albeit via an indirect route). There are also a number of new routes that have started to service Bulgaria. Bulgarian Air has started twice weekly flights from Manchester to Sofia, in addition to their routes from Gatwick to Sofia and Varna. British Airways is adding to its Bulgaria timetable with a twice weekly flight from Gatwick to Varna starting early 2006, which will run alongside its existing services to Sofia from both Gatwick and Heathrow.
Permanent move to Bulgaria
Over the last decade Bulgaria has taken huge steps in stabilizing its economy and extinguishing the remnants of its communist past. Bulgaria joined the European Union in January 2007. This has made it much easier for anybody buying property in Bulgaria as their permanent home.
Buying property in Bulgaria
Bulgaria has firmly established itself as one of, if not the major, emerging property market in Eastern Europe, mainly thanks to one key point – it is cheap, very cheap. If you are buying property in Bulgaria, another of its main advantages over some other countries in the eastern tracts of Europe is that its infrastructure was already well geared for tourism before Brits became interested in the country. This is especially true along the Black Sea coast – once the established summer holiday destination for residents from countries in the Eastern Bloc, now a paradise for those buying property in the country. The coast is now very popular with buyers looking for an investment property – either capital appreciation, or rental, or a holiday home.
But buying coastal property in Bulgaria is not the only property spotlight in the country. The capital of Bulgaria, Sofia, and the ski resorts located in the country\'s mountainous west, have also attracted considerable attention from property purchasers, with Sofia viewed as an ROI destination, and the ski property catering to investors and second-home seekers.
Make sure you don\'t deliberate for too long though! Property prices across Bulgaria are on the up, rising a massive 31 per cent last year and it\'s predicted that this trend will continue for a few years and then slow down so buying now could be a really good investment. While this may affect your ROI potential, with more tourists annually discovering the delights of Bulgaria\'s coastal and ski resorts, it is unlikely that buyers will be short of rental clientele for some time!
Destination Hot Spots for property in Bulgaria
Bulgaria\'s Black Sea Coast
With a climate similar to northern Spain and golden sandy beaches aplenty, the Black Sea coast is a popular destination with holiday makers and property buyers alike. Property prices along the coast have increased rapidly over the past 12 months and continue to do so. However, 65,000 euros will still be enough for a one-bedroom apartment on the coastal strip of Sunny Beach, less in less popular resorts. Sofia Bulgaria\'s capital is where those with an eye on making a profit on their property will undoubtedly find themselves drawn. New one-bedroom apartments can be bought from 55,000 euros, while on the city\'s outskirts, prices are closer to 20,000 euros.
Property in ski resorts in Bulgaria
About 30 per cent of Bulgaria\'s territory is occupied by mountain areas. Of these, the Rhodope, Rila and Pirin mountain ranges all offer fantastic ski resorts between October and March. Prices of apartments in Bulgaria\'s ski resorts vary from between 40,000 euros for one bedroom, to 75,000 for two bedrooms. Look out for the area of Bansko, which is increasingly popular with British ski enthusiasts.
Plovdiv
The country\'s second biggest city behind Sofia, Plovdiv has slowly started to generate a trickle of interest from Brits buying property in Bulgaria. Property prices are still extremely cheap. A two-bedroom house could cost as little as 15,000 euros, although rental potential is still limited.




