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4 types of property opportunities in Bulgaria

Date: 20.04.2006

The Independent

The property investment opportunities in Bulgaria fall into four main categories, wrote the Independent on Wednesday in an article that praises the property market potential of the country on the threshold of the European Union.

"The first lies in the capital, Sofia, which is growing economically and geographically faster than any other former East European capital. The property boom has now hit the centre, with locals themselves pitching into the market - always a good sign."

The article points out that an average, two-bedroom, new-build apartment in the centre is selling for between GBP 69,000 and GBP 87,000, and values are rising almost by the day.

The author points out that Bulgaria has a burgeoning skiing industry whose centre is Bansko, an ancient village at the foot of the Pirin Mountains. A typical two-bedroom, new-build apartment costs GBP 71,000, with prospect of a rise in values of about 20 per cent a year.

The Black Sea, with its sunshine, cheap beer and great food, beckons investors too. "Locations such as Sunny Beach may be set to become the new Costa del Sol."

The Independent cites experts, according to whom the really "canny" investment, and one open to those on a low budget, is to buy land. They say the town of Kavarna would command prices of EUR 70 a square metre, and Balchik - EUR 58.

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