bulgaria investment information

Why Invest in Bulgaria?

Bulgarian property has seen substantial growth since 2001. The property boom was encouraged by Bulgaria’s growing political and economical stability, a fact that is verified by two important events: the country’s entry as an official member of NATO in 2004 and joining the European Union at the beginning of 2007. Despite average price rises of 25% in recent years, it is still a considerably cheaper destination than much of the rest of Europe.

Bulgaria boasts some of the lowest real estate values in Europe, offering exceptional value and almost unprecedented growth potential. There are 3 main types of property investment worthy of consideration namely Black Sea coast, mountain ski areas and city apartments.

It is true to say that there has been substantial development in Bulgaria over the last few years and you should be selective when purchasing property. Principal International can advise on appropriate locations and developments.

Local mortgages are available, which reduces the investors cash requirement and provides the ability to maximise growth on capital invested.

Points of note are:

• Economic growth has remained stable – GDP growth is one of the highest in Europe
• The rate of inflation is one of the lowest in Europe
• Unemployment is steadily decreasing
• Consumer spending is increasing
• Bulgaria will receive close to 7 billion Euros from the EU during the next seven years

Buying Property in Bulgaria

The Bulgarian act of foreign ownership states that foreigners cannot own land, however they may own buildings. In order to own land the ownership must be channelled through a Bulgarian company.

Location

Bulgaria is a situated in the southeast of Europe. It borders the Black Sea to the east, Greece and Turkey to the south, Serbia and Montenegro and the Republic of Macedonia to the west and Romania to the north along the river Danube

Languages spoken in Bulgaria

Bulgarian but English widely spoken in all major cities and resorts.

Religions of Bulgaria

Mainly Eastern Orthodox

Bulgarian Climate

The Bulgarian climate offers not only warm summers providing plenty of sunshine days per year, but also plenty of snow on the spectacular mountains for winter sports enthusiasts to enjoy from December to May.

Getting to Bulgaria

Bulgaria has three International airports at Sofia, Varna and Burgas. Flights are available daily from Gatwick, Heathrow, Luton, Manchester, Bristol and Birmingham. The flight time is approximately 3 hours.

Bulgarian Currency

Bulgarian Leva, which is pegged to the Euro