Purchasing Property Overseas: Bulgarias Eastern Promise
With the UK housing market as expensive as ever those looking to buy into property are continually seeking more profitable better value places to invest in. People seeking overseas property can be broken down into two broad categories. Firstly there are those who are buying purely for investment purposes. This group tend to buy in emerging markets where big profits can be made and they often buy without viewing properties first.
Then there are those who are seeking a holiday home; or perhaps somewhere to retire. This group tends to visit many places and properties before deciding on one and will obviously look for a property in an area which they want to visit frequently. Rather than thinking of property price values they tend to be more interested in local services amenities and recreational activities in the area.
Both buying groups are also likely to have an interest in the potential rental market as they will be able to supplement their income by renting out their property when they are not there. Property investors tend to search out emerging rather than established property markets as these are likely to yield the highest capital appreciation and one area of the world that has really caught investor’s eyes recently is Eastern Europe.
As this region has opened up to the west with many countries joining the EU and some adopting the Euro currency it has become much easier and much more attractive for investors to make property investments in Bulgaria Slovakia Romania and other former eastern bloc countries.
Bulgaria certainly remains one of the biggest winners in attracting overseas buyers. Its combination of excellent value property and high quality developments close to major recreational areas such as topclass ski resorts or beaches are an ongoing pull for people looking to invest. There is a choice of both offplan developments as well as the option of resales. The type of property available ranges from studio apartments in glitzy ski resorts such as Bulgaria’s premier snow zone Bansko to luxury multibedroom flats by the Black Sea.
Over the past several years Bulgaria has made impressive progress towards longterm stability and sustained growth. As a result of sound macroeconomic policies and deep structural reforms the average growth has reached close to five percent per year in the period 20002005. A broad structural reform program contributed to the recent solid economic performance.
That’s why investors who are looking for a solid property investment overseas with high rental potential and good capital growth are finding that Bulgaria’s eastern promise ticks all the boxes.
About the writer: Adam Singleton is an online freelance journalist and keen gardener. He lives in Scotland with his two dogs.
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