Why Invest in Bulgaria?
Capital Appreciation
Official figures currently show that property prices are rising by 24%-100%. Lower interest rates and the foreign policy are considered among the main reasons. Huge capital appreciation has been seen in high quality developments.Foreign Investment
There has been an increase in foreign direct and indirect investment in real estate. This has been determined by the expected EU membership perspective and the constantly expanding tourist industry.Low Prices Compared to Europe
Bulgaria is a country with extremely low real estate and land prices compared with Western European and most Eastern European states.Easy Purchase Process
The harmonisation of Bulgarian legislation with that of the European Union means that the actual process of a real estate transaction in Bulgaria is not that much different to the procedure that exists in other European countries.Lower Costs
The costs associated with property transactions in Bulgaria are much lower than in developed economies, as are the running costs or the costs of refurbishment or improvement. All properties are bought freehold.
Value for Money
Property and land prices are without doubt good value in Bulgaria. This may be due in part to the general historic neglect of its assets and also because the Bulgarian currency (the Lev) is undervalued.
EU Membership
Bulgaria is now a full member of NATO and has received a formal invitation to join the EU in 2007 and remains on schedule. During the European Union Summit held on Dec 17th Bulgaria was praised for its progress and has now complied with 26 out of the 30 EU accession criteria.
Temperature
Air temperatures in the summer vary between 23°C and 27°C and sea temperatures vary between 17°C and 25°C, warmer than the Mediterranean. There are more than 240 hours of sunshine in May and September and more than 300 in July and August.
Balchik
The coast of the Black Sea faces east and extends over 378 km. Its seawater is clean and not tidal and its vast beaches covered with fine golden sand. The majority of Bulgaria's beaches have been awarded the EU Blue Flag for their environmental excellence.
Facts
- Balchik is only 3 hours away from most UK airports.
- Currency fixed against the Euro
- Economy expanding rapidly
- Property prices now rising
- Property prices among the lowest in Europe
- Established and fast growing tourist industry. 4.4m in 2005
Getting There
Direct international flights from the UK (2.5 hrs) are available to Varna airport all year round from Heathrow with British Airways www.ba.com and from Gatwick with Bulgarian Air www.air.bg. For booking details and latest timetable ...
Low Cost airline opportunity
Currently an 'open skies' agreement is needed to allow budget airlines to service the Black Sea coast directly. Due to the privatisation of Bulgaria's national carrier Balkan Air, this will not be adopted until just before EU membership.
For the above reasons we expect budget airlines to start servicing the Black Sea coast from mid-2007 or 2008.