Property Investment in Bulgaria

Bulgaria is a country which has been successful in achieving aconsistent economic growth in the past few years. Despiteeconomic and political changes it has undergone, it is slated tobecome a member of the European Union which will enable tostabilize the currency and look forward to a better conduciveenvironment for economic growth. This reason itself has causedthe foreign direct investment to grow exponentially in the pastfew years, crossing the $2bn mark in 2004. This foreign directinvestment has leapfrogged the Gross Domestic Product whichmakes it very clear that Destination Bulgaria is emerging andany investment in immovable...

... properties would only appreciate inthe near future and highly probable that it would do so in thelong run.The property prices have increased by as much as 25% in the pastyear, which implies that rents also are on the upswing. Biginvestors and holiday corporate companies are invest more andmore, since the rental income would increase substantially.Small investors are already making a fast buck of about 40-50%appreciation on the property they own, by offering resale ofcomplete/ semi-complete developments.Furthering this boom, the Bulgarian government is working on alegislation to enable freehold ownership of land and property byf...

...reigners. This step is being taken looking at the trend ofconstruction quality and development and success of pioneerinvestors in the recent past.Compared to other nations of Europe, the development costs inBulgaria with respect to labor, land, taxes, utilizes etc. arecheaper. As a result of which, a supply void could be created tohike prices and gains. As more and more multi national companiesare entering Bulgaria, the job market is looking up and so isthe demand for rental houses and apartments.The property acquiring process in Bulgaria is simple, sinceforeigners acquiring properties in Bulgaria was not allowed andis changing.