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Property is a powerful investment tool today. Below we outline the reasons why shrewd investors are currently choosing worldwide property to generate wealth and why Bulgaria is a great investment market in which to purchase property.
Why Invest In Bulgaria?
Bulgaria is an exciting emerging market and currently offers property at prices simply un-obtainable in other areas of the world. With prices steadily rising and set to continue to do so for some time, wise property investment in Bulgaria promises excellent returns on investment. Purchasers are snapping up bargains now, with a view to enjoying excellent returns on investment in the near future.
With an increase in tourism of 50% between 2000 and 2004, Bulgaria has established itself with the fastest growing tourist trade in Europe and this, in turn, is steadily driving property prices upwards. Tourism concentrates mainly on the Black Sea Coast resorts and increasingly popular ski locations and it is creating a very stable buy-to-let environment for investors.
Bulgaria is a new member of the EU. Traditionally new EU countries experience steep increases in property values and tourism from other EU nations, and have upgraded their infrastructures and economic structures to EU standards.
Bulgaria has come a long way since its former Communist days and today has a stable government committed to economic reform. Now a modern, strong and rapidly growing country, Bulgaria is recognized for its promise on the international market with GDP growth reaching the highest in Eastern Europe (Institute of International Finance) at 6%.
With warm weather and stunning blue flag beaches as well as beautiful countryside,and modern, vibrant cities Bulgaria has something to offer everyone.
Close proximity to Europe and increased low cost airlines offering direct routes to Bulgaria from many UK and other European airports, make Bulgaria easily accessible and a viable property location for investors and property purchasers alike.
The Buying Process
This is uncomplicated and much the same as the process in the rest of Europe.
Research to find the right location to suit your needs and find a desirable property at the right price.
Negotiate. It is quite normal to for some price negotiation to take place.
The Lawyer (who will often represent both purchaser and vendor) checks that all municipal costs and paperwork are in order.
The Notary deed is signed before the public notary and both the owner and the purchaser are present. The purchaser pays the notary fee, which is around 5%, depending on the declared value of the property. The Notary then registers the transaction in the Real Estate Registry in order to make the purchaser´s title deeds defendable against third parties.
You are now the proud owner of a property in Bulgaria. Do not forget to insure it just as you would any of your other properties at home or abroad.
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Our limitation of liability and responsibility
While we require Advertisers to advertise properties truthfully, fairly and accurately, and we take reasonable steps to remove advertisements from our site following any complaint from a Buyer or another Advertiser, we have no control over the accuracy of any advertisement. We do not own, inspect or provide content for any of the properties advertised on our site. We have absolutely no involvement in the buying/sales process, although we may provide tools to enable the transaction between Advertiser and Buyers. We make no claims as to the quality, safety or legality of any of the properties advertised. Neither can we confirm the accuracy of the advertisements or their content. It is the sole responsibility of the Advertiser to be eligible to sell the property and the sole responsibility of the Buyer to pay for the property.
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