News
Property in Bulgaria - buy now!
03.09.2010
These are two of the arguments in a comprehensive publication for real estate in Bulgaria for the independent Russian agency RWAY (Aruey). Here are the details:
Already a long time Bulgaria is among the best real estate markets in Europe. Compared with other countries, the overheads are low in Bulgaria and the level of operating services themselves - high. Foreign investors choose including Bulgaria because the Bulgarian law protects them and allows no problems leaving the country and their capital gains.
The right to private property in Bulgaria is respected and strictly for historical reasons: in the country even during communism there was privately owned land. Bulgaria is a profitable investment in real estate and, therefore, that legal procedures are relaxed and shape of property - much simpler than in Cyprus, Croatia or Montenegro.
To invest in Bulgaria now is forward looking Russian agency Bildunterschrift wrote: Großansicht des Bildes mit der Bildunterschrift: Do not invest now in Bulgaria is forward-looking, Russian agency says
Price - during the peaks and dips
Only five years ago, there was nothing obvious that the Bulgarian property market will develop so rapidly. Then on the Bulgarian Black Sea coast were offered mostly small parcels until about 10-20 acres, but at a price per square meter from 400 to 1,200 euros was not possible to build profitable hotel. However, the Bulgarian Black Sea resorts were very attractive, their construction (Sunny Beach) gained speed, many new hotels have sprung up, mainly owned by British and Germans.
By 2008 property prices in Bulgaria grew by around 80 percent annually. This growth was artificially inflated because of Germany and British investors and special programs developed for them. Since the beginning of 2005 in England was placed mortgages for seniors who want to buy apartments in Bulgaria. So the apartments, which are drawn up into Bulgaria, were adapted to the mentality of these buyers: 40 to 60 square meters with no so high quality of architectural projects and implementation. These properties are currently being sold at prices about 40-50 thousand euros and are an important part of the Bulgarian property market.
In 2008, Sunny Beach is the site shell 40, but then came the crisis in 2009 and construction sites in the resort were only two, but this year - only one. As a result of the crisis, property prices in Bulgaria fell by 50 to 70 percent. Construction was frozen for thousands of apartments, so now the market is only about 500 - in other words, there is a serious deficit. Are scarce and good plots for new construction, and this situation will continue in the coming years. For this deficit, there are three reasons for admitting Bulgaria into the EU and the new city code:
Firstly: within the 100-meter beach can not build, within the 300-meter - only three floors and within 500 meters – up to 5 floors. Second: no longer allows the conversion of agricultural land into building plots. The Black Sea coast remained only 25 km, where possible can be built, but they are only agricultural lands. And third: can still buy land in rocky coastal areas, however, where is no infrastructure - the infrastructure is concentrated entirely in and around the resorts.
Better in Bulgaria than in Sochi
Sooner or later the prices of the Bulgarian real estate will be aligned with the prices in West Europe. So now to invest in Bulgaria is very forward-looking. Russian companies that built on the Black Sea coast, offering properties worth about 650 to 900 euros per square meter. More and more Russians are interested in Bulgarian properties in which they develop business - shops, restaurants, offices and service shops.
After extensive post, authors recommend Bulgaria, as compared with the real estates in the future Olympic city Sochi. In Sochi prices are already higher, the flight from Moscow takes the same time, only to Bulgaria has more planes and the price is lower. And most importantly: if you buy property in Bulgaria, you get two-year visa and the EU together with the whole family.
Source: dw-world.de
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