Bulgaria Property

Located in southeastern Europe, Bulgaria stands out as one of the least expensive property markets for investors to place their hard-earned cash. Its warm beaches and picturesque skiing locales offer many reasons for investors and tourists to embrace this previously under appreciated countries. In addition, Bulgaria’s upcoming 2007 inclusion into the European Union—as well as a bid for the 2014 Olympics—have catapulted it to the top of every property investors “must have” list.

Despite a growing tourism industry and positive real estate speculation, one can’t help but wonder if Bulgaria’s growth on the property market will continue—or will fall flat before realizing its potential. While nothing less than a crystal ball can predict Bulgaria’s future with certainty, experts around the world are setting their sights on Bulgaria—and with good reason.

Low Prices
It almost can’t be said enough; real estate prices in Bulgaria area bargain compared to others on the European market. However, prices are slowly edging in anticipation of Bulgaria’s merger with the European Union. In addition, a booming tourist industry—along with the possibility of hosting the Olympics—is quickly garnering the attention of the world.

Natural Attractions
Without a doubt, the beautiful beaches and ski areas do attract a wide variety of tourists. However, Bulgaria has even more to offer. Bordering Greece, Macedonia, Romania, Serbia, Turkey, and Montenegro, Bulgaria offers a rare mix of ethnic and cultural diversity. Roman, Greek, and Thracian historical attractions abound for history-lovers. With so much to offer, Bulgaria is a natural attraction to people from all walks of life. This is evidenced by the growth in tourism from 2000-2004—a whopping 50%. Experts predict this percentage will only increase as time goes on, and expect 20 million tourists a year to visit Bulgaria by the year 2010.

Booming Economy
Not only is tourism picky up in Bulgaria, so is the overall economy. With a Gross Domestic Product growth of 6% for 2005-2006, experts predict that Bulgaria will pass all other eastern European nations.

Low Population
Although it’s basically the same size as the UK, Bulgaria has a measly 7.45 million residents. This low population density indicates a real estate market that is not overburdened by high population demands—and a market wide open to development and investment.

Time
Time can be a double-edged sword for anyone looking to purchase property in Bulgaria. Buy too early, and they risk watching the market fail before any profit is made. Buy too late, and one might have to pay premium prices for a once-inexpensive piece of land. If there ever was a “perfect” time to purchase land in Bulgaria, this might be it. Although prices are still very low, they are starting to edge up in anticipation of Bulgaria’s political and financial future. In addition, enough experts have speculated on Bulgaria’s upcoming boom to alleviate the fears of even the most skittish property buyers.

True enough, there is no crystal ball to predict when Bulgaria’s property boom will officially begin—or end. However, one doesn’t need too look further than Bulgaria’s growing economy to see that the future for property investor’s here is bright.