The best Investment Opportunities since Spain, Do you wish you had invested in Spain 10 years ago. Bulgaria is considered to be the new Spain with new golf courses & marinas being built.
Now has never been a better time to invest in Bulgaria, with recent times having seen record property sales registered. Holiday apartments in Bulgaria's Black Sea and Mountain Ski Resorts have increased by up to 30% in the 12 months to Dec 2004. Forecasters expect prices will continue to increase 20% annually until 2008.
Bulgaria’s tourism sector is well established and has recently become one of the fastest growing tourist destinations in Europe. The number of tourists visiting Bulgaria is expected to reach 4.5m in 2005 and nearly 4.7m in 2006 Bulgaria is considered to be the jewel of Eastern Europe
Just a few reasons for choosing Bulgaria
- Scheduled to join the EU in 2007
- Regular daily flights from the UK only a 3 hour flight
- Rapidly emerging property market
- The currency is stable and linked to the Euro
- Full member of NATO
- Tourist numbers increasing every year
- Rapid economic growth ahead of EU membership
- Property prices currently rising at up to 30% p.a.
- Budget airlines expected to start flying to the Black Sea coast from 2007
- The Black Sea coast has over 1,700 hours of sunshine from May to October, and can reach temperatures of up to 42 C
- The cost of living is very low Council tax from £30 per year,Electric £50 per year Water £50 per year Cable TV from £50 per year,
- 3 course meal for two from £6, and a pint of lager from 40 pence
- 200 cigarettes from £5
Buying Off Plan
Buying an ‘off plan’ apartment in Bulgaria is essentially the same as buying in the UK and means reserving a property on a new development before the property is completed, often before construction has started. Buying ‘off-plan’ can prove a fantastic investment and prices are extremely competitive at this early stage as potential investors only have floor plans and artist impressions of the finished development to view and developers are keen to sell to minimise risk and to provide the project with some forward momentum.
You then have the option of selling before completion for a profit, or you can hold on to your property for further capital growth & rental income whilst having a great holiday destination to visit. Holding on to the property for a longer-term means you can benefit from Bulgaria’s expected accession to the EU in 2007 where considerable appreciation is expected throughout the Bulgarian real estate market, with holiday apartments expected to lead the way and appreciate the most in value.
'Off Plan' purchases have provided great returns for hundreds of people over the last few years. Buying Off Plan can prove such a good investment lies in the fact that in many cases you only have to pay a small 10% deposit on signing the prelimary contract and a further 15% on completion of the roof, so in total 25% deposit till completion of the project.
An example from our Marina Fort Beach Apartments.
| Property |
2 bedroom apartment with sea view |
| Purchase Price: |
€ 80,000 (Feb 2005) |
| Deposit payable: |
€ 8,000 Deposit payable within 3 weeks of reservation
€ 12,000 on completion of the Roof (expected Oct 2005) |
| Total Deposit: |
€ 20,000 |
Let us assume that you sell the property in March 2006 just before the completion, and that you sell for 100 000 Euros (this is a much lower return than has been achieved in recent years)
Your profit is € 20,000, a 25% return on the € 80,000 asking price, but remember all you have had to pay is a € 20,000 deposit, so your actual return on cash invested is 100%
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