joined the European Union
in the First of January 2007. The improved economic conditions, political and social stability in Bulgaria
over the last 3 years brought to a real boom of the prices of property in Bulgaria
. Other important factor for the rising property market is the huge tourism potential in the country. There are great natural attractions - high mountains, beautiful and clean Black Sea coast
, preserved rural areas, minimum urbanization, thousands years of history, etc.
is considered as the fastest growing tourism and property
market in Europe
. Summer tourists are attracted to the beautiful white beaches along theBlack Sea
coast and Bulgaria
's long hot summers. And winter tourists are drawn to Bulgaria
’s stunning mountains and fast developing winter spots resorts.
is now the third most popular holiday destination after Spain and France for British holiday
makers. This is something that foreigninvestors of property in Bulgaria
appreciate the most. The spectacular capital growth, natural beauty, the EU
membership and stable economy are all forming the solid base needed for a wise and enterprising property investment in Bulgaria
The Bulgaria property
market is among the cheapest
but is catching up. Last year prices rose by about 35 per cent, but are still cheap
, and in the lead-up to EU
accession in 2007 annual rises of 25 per cent are predicted. The increase in foreign investment
is set to continue because of Bulgaria
’s membership and the constantly expanding tourist industry. All these factors add up to show exactly why the real estate market in Bulgaria
is one of the strongest and most profitable property investment
markets currently and why the growth is set to last.
has one of the most liberal foreigninvestment laws
in the region. We would like to draw your attention to the land purchasing process. According to the Bulgarian
Act on Foreign Investment; currently foreigners can buy buildings but not land
. Therefore the most common method for foreigners is to set up a Ltd. company which then owns the land
. Foreign investors are not put off by the fact that they are not legally permitted to own land
in their own name - they simply establish a Bulgarian company
through that. As the legal owner of the Bulgarian company which owns the property
the foreign purchaser becomes the legal owner of the property!
It is simply a legal way around the current law on property ownership rights. The law does not limit the extent or amount of foreign participation in companies. Foreign individuals and companies can open unlimited number of accounts in any Bulgarian banks, in any hard currency or the local Bulgarian
not only offers most attractive and unspoilt holiday destinations it is also host to what will be one of the most dynamic and as of yet relatively untapped property and real estate markets in Europe
. Anyone hoping to retire overseas on a budget should look to buy Bulgarian property
. Buying overseas can be an exciting and profitable experience by taking your time to understand the buying process
you will ensure that your property purchase in Bulgaria
is a happy and enjoyable experience.