Bulgaria investments. Property investment

 Modern Bulgaria has a number of qualities which make it an attractive and stable investment destination:

• Economic Growth - 4.9% real economic growth (2002est.)
• Political Stability - A Parliamentary democracy
• A European Future - Already a full member of NATO,Bulgaria has been invited to join the European Union in 2007

The rise in Bulgarian property prices, which are currently around 23% per annum, offers the same kind of potential as the early days of the Spanish property boom. Not without reason the Bulgarian Black Sea coast has been dubbed the "New Spain":

Rental yields are better for apartments in complexes which means a guaranteed rental income for Black Sea property buyers of around 10 - 12%:

Recent television coverage in the UK and the prospect of joining the EU in 2007 has increased the interest in Bulgaria considerably. It is at the moment the fastest growing tourist destination in Europe.

The Bulgarian property investments has already made impressive gains in the last couple of years with an average 2005 increase of 20-25%, some areas increasing by 30%:

Legal Guarantees Against Adverse Changes in the Law.
The Law on Foreign Investments stipulates the principle that foreign investment in Bulgaria made prior to the adoption of amendments in law imposing statutory restrictions only with regards to foreign investments, shall not be affected by these restrictions. The sense of the law provides for that foreign investments shall be guaranteed against subsequent legislative changes.

Protection against Expropriation.
The Bulgarian Constitution allows forcible expropriation of property in the name of the state or for municipal needs only if effected by virtue of a law provided that these needs cannot otherwise be met, and after a fair compensation has been ensured in advance. Expropriation under Bulgarian Law is governed by the Law on Bulgarian Property and Law on Municipal Property.

The Law on ForeignInvestments in Bulgaria provides additional protection to foreign investors. The first added protection granted to foreign investors is that the expropriation may only occur for exceptionally important state needs, which cannot be otherwise met. Immovable property(house, apartment) owned by foreign persons in Bulgaria may not be expropriated for municipal needs.

As another protection for foreign investors the Law requires compensation in the form of another immovable property(house, apartment) in the same location, and only given the foreign investor's consent, in another location, or by cash if the foreign investor prefers so.

Compensation equals the immovable property's market price on the day of expropriation:
    "Low property prices, beautiful countryside, historic towns and unchanged rural traditions in Bulgaria. The cost of living is also surprisingly low and makes Turkey look expensive. The food is good and a meal out costs EUR 3, a beer EUR 0.5, and an espresso EUR 0.3." (The Times 26 Feb 2005)
For more information: www.bulgarianembassy.org.uk

Bulgaria is arguably Europe's hottest investment opportunity. It's been the subject of considerable recent press and tourism is booming. Last year recorded a 62% increase in visitors from the UK, and with the expected arrival of the budget airlines, that's sure to grow. Rental yields are good too, generally between 7% and 10%.

With money pouring in from foreign investors and funding from the EU and World Bank, much of which is being spent on infrastructure, roads and facilities to boost tourism the result is a rapidly expanding Bulgarian economy with current real economy growth at 5% and inflation rare of less than 6%.
Bulgarian property prices are rising steadily on an annual basis (15% in 2007).
There has never been a better time for investments in Bulgaria.

In recent years many of the traditional resorts of Spain and Portugal seem to have lost the very essence that made them appeal in the first place, "European Living".  Not so Bulgaria. It still retains all of its charm, with vast areas almost untouched for centuries by outside influences.

Bulgaria is easily accessible by air, with virtually all the major European airlines offerings regular flights to Sofia. Additional flights by both normal and charters airlines also operate into the Black Sea cities of Burgas and Varna.

A beautiful Bulgarian beach area starts from midway along the bay and stretches round to the end of the peninsula. Across the bay from Carevo fishing harbour lies Vassilico, which also has a pretty beach area and many sandy and rocky coves. The whole area is ideal for sun worshippers, especially those who prefer privacy, as there are many kilometres of beach which remain relatively unused all year round.

Sozopol, which lies some 18 miles north, has many more deserted sandy beaches and small secluded coves. Inland you will discover large tracts of waterways, hills rising gradually to mountains and forests, supporting an abundance of wildlife. Fantastic for those who love to explore the great outdoors.

Take a scenic drive south, following the coastline down to the picturesque village of Sinemorets, the gateway to rivers and the vast National Park and Nature Reserves of Strandja.

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