Excellent Investment Opportunity
- Bulgaria has been a member of the European Union since 2007
- The diverse geography and climate allows ski, beach resorts and mineral spas
- 220 km of sandy beaches
- Bulgaria has been a member of NATO since 2004
- The currency is stable and fixed to the Euro
- Currency - Bulgarian Lev, 1 Euro = 1.95583 Bulgarian Leva
- In Bulgaria there are 4 international airoports connecting the country with the rest of the world
- All major tour operators offer holiday packages to Bulgaria
- Property prices have risen by over 30% in the last year and are still one of the cheapest and demanded in Europe
- Climate in Bulgaria allows all year round living
We believe that Bulgaria offers excellent investment opportunities and confidently predict over the next 3 years a 100% return on your investment. BG estates developments are in the most exclusive areas which guarantees higher returns. More important than the financial rewards is the quality of life. Bulgaria offers beautiful sandy beaches and spectacular mountain regions providing excellent opportunity for all year round tourism.
Advantages
 The introduction in 1997 of a monetary board stabilized the Bulgarian economy. In the period up to 2007 the Bulgarian legislation will be improved and changed according to the laws of the European Community member states. The Bulgarian foreign investment laws are among the most liberal ones in the region. The decline having dominated the country because of the transition from commanding economy to market economy and liberal democracy is overcome and gives way to the prospect of rediscovering Bulgaria. It is being rediscovered not only by the investors but also by the common citizen of Europe, who appreciate quietness and the tranquility of life in rural and highland areas of a country like Bulgaria. In Bulgaria you will be spoilt for choice, as every corner offers something exciting and different for the visitor.  Bulgaria offers cheap property for sale in a country whose economic growth has grown at a rapid pace and is now one of the highest in Europe. In the past 10 years, its tourist trade has increased dramatically. As a result, an abundance of cheap properties are for sale in Bulgaria at a much lower price than in other European countries, ensuring better value for your money. Its present trade with North America will continue to expand to nearby Asian markets and to other countries in the European Union, which it will join in 2007. This is a great place to buy that second home for your holidays, a home for your retirement in later years, or to use as property for rental income. The opportunities for buying cheap property are unlimited.  Bulgaria is rich in historical and cultural attractions for the tourist, but in comparison with many other European destinations, it is still relatively new and unspoiled. It is a country with an extremely low cost of living, rate of taxation, and annual inflation. The political structure of Bulgaria is a stable democracy, with freely elected Members of Parliament. The average elevation of Bulgaria is 1600 ft, with more than half the country being hilly or mountainous. The favourable climate of Bulgaria is temperate, with dry and warm summers and chilly winter months. In the major cities, taxicabs are inexpensive, and buses and rental cars are also available. In addition, numerous express trains provide excellent transportation, as well as season passes, to all parts of the country. Furthermore, the improved and expanded construction of roads has increased the interest in buying cheap property in Bulgaria. 
Hot destinations
Another option to buy property in Bulgaria is in the fabulous ski resort locations. These resorts offer every type of winter sport and activity, and during the summer months, the mountain trails are ideal for hiking, camping, cycling, and horseback riding. Other attractions are being added to these resorts, including golf courses and tennis courts. The 9-month rental season in the ski resort area provides an even greater potential for a more lucrative investment.
A third area to consider when buying property in Bulgaria is in the capital Sofia. New apartment buildings are under construction in Sofia, some with various amenities included, such as restaurants, fitness centres, video stores, banks, etc. More and more local and foreign business owners need to rent offices and building space, as trade continues to grow. Mortgage is competitive and legal advice for tenant agreements and property maintenance is readily available. The demand for urban and suburban property will continue to grow as trade increases, presenting an excellent opportunity to invest in Bulgaria.
Property along the Black Sea coast is the most desired real estate among the international and local buyers. These properties are in high demand, due to the rapid growth of the tourist trade in this particular area. The architecture of the old sea coast towns, the historic ruins of ancient civilizations, pagan sanctuaries, and cultural monuments of Bulgaria are just a few of its many attractions. This area has long been famous for its spas and mineral springs, a place for health, rest, and relaxation. The shallow water, fine sandy beaches, and warm air all contribute to the desirability of buying property in this area. Beach front property is always a good investment.
History Notes
 Bulgarian history will take you back dozens of centuries to Pliska, Preslav and Veliko Tarnovo - the seats of the first Bulgarian khans, czars and kings; to the stone carving of the Madara Horseman; to the Thracian Gold Treasures; to the breathtaking murals of the Kazanlak Tomb and the church in Boyana; to the quiet wisdom of the Rila Monastery and to the towns of Koprivshtitsa, Melnick and Zheravna - Renaissance legends of wood, stone and colour. In fact, there were only three states in Europe in 681:
- The Western Roman Empire
- Bulgaria
- The Eastern Roman Empire (Byzantium)
Situation
Bulgaria sits at the crossroads of Europe and Asia, right in the belly of the Balkans. Any journey of length showcases the country's amazing variety of landforms.
Bulgaria simply resembles a continent in miniature because of its very varied relief and miraculous working of nature where measure is paramount. The country with a 1300 year history lies in the North-eastern part of Balkan Peninsula and during the centuries has been an important link between Europe and Asia.
Our lands are ancient crossroads. They remember many ancient civilizations: The Thracians bequeathed us the famous tombs near Kazanluk and Sveshtari, the unique gold treasures from Panagyurishte and Rogozen. The Hellenes built the beautiful coastal towns of Apollonia, Anhialo and Messambria, and Romans - ancient Aescus, Nikopolis ad Istrum and Nove. Huns, Gothes and Averas later passed through our lands. Around the mid-7th century the Slavs came from the north across the Danube and reached as far as the Black Sea and the Adriatic. They were followed by the Bulgarians of Khan Asparouh.
Cultural heritage
 Perhaps the most valuable part of the Bulgarian cultural heritage is the monasteries. A home to tranquil, warm and living beauty, they impress with their unique architecture, unfading frescoes and orthodox icons, created by medieval self-taught architects, builders and painters. It is difficult to imagine Bulgaria in National Revival times without seeing its historical towns and villages. Although they are now preserved as museums, they are still full of life, harmony and beauty. Once called the sleeping beauty of the Balkans by New York Times magazine, Bulgaria has four beautiful seasons and a gorgeous wildlife.
Amazing mountain lakes, sunny beaches, gorgeous valleys, mineral springs and deep chilly caves exist in pure harmony. You will hardly find another European country with such a mix of gentle climate, beautiful scenery, rich wildlife, great cultural heritage, excellent cuisine and perfect wines.
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Population: 7 640 000
Language: Bulgarian
Religion: Christianity
Government:Parliamentary Republic
Area: 110 910 sq.m.
Sunshine days during the year: up to 290 days
GDP growth: 5% (2008) |
Location
Bulgaria is situated in south east Europe and occupies the eastern part of the Balkan Peninsula. To the north it borders on Romania, to the west on the Republic of Macedonia and the Federal Republic of Yugoslavia, to the east on the Black Sea, to the south on Greece and to the south east on Turkey's European part. Area: 111.000 sq km.
Relief
 Bulgaria is distinguished by generous and varied nature - a sea with a 380 km. long coastal strip and golden beaches, 16 mountains (Balkan Mountains, Rhodope Mountains, Rila mountains, Pirin mountain, Vitosha mountains, Belasica mountains, etc.) with their own characteristic features, shelters valleys and high plateaus, over 550 curative mineral springs, dozens of unique natural phenomena and 2000 thrilling caves, a healthy climate and diverse flora and fauna. The highest peak in Bulgaria and in the Balkans is Moussala (2 925 m). More than one quarter of the country's territory is covered with forests. The edelweiss which grows in places difficult of access in the Pirin Mountains and the Balkan Range, is one of the rare plants growing in the country.  Bulgaria is famous for its oleaginous rose which bloom in the Valley of Roses. The Bulgarian tobacco brands are world - famous. The Bulgarian fauna is no less interesting, with almost 13 000 animal species and subspecies, or about 14 percent of all European species. Fishing is possible in lakes, dams, mountain brooks and sea, hunting - in special hunting grounds.
Climate
 Temperate continental with clearly marked four seasons. A Mediterranean influence is felt in the country's southern regions. The average annual temperature is 10.5°C. The average January temperature is around O°C. Average summer temperatures rarely exceed 30°C. The mountainous climatic region covers the mountain parts at altitudes above 900-1,000 m. Temperatures decrease with height, whilst snowfalls increase. The snow cover stays put for five to six months and is over 1.5 m thick. The average January temperatures on the high mountain peaks reach up to -20°C and are around -5°C in the valleys and ski resorts. Average summer temperatures vary between 14°C and 19°C. There are about 250 sunny days a year. The air is crystal-clear and fragrant with the smell of pines. There is no aerosol pollution and the atmosphere abounds in ultraviolet rays. Extremely varied: large plains and lowlands, low and high mountains, valleys and lovely gorges.
Economic growth
- GDP real growth 6.3%
- Investment real growth 23.6%
- Unemployment rate 8.4% in April– down from 9.1 % in the last quarter of 2006
- Currency 1 lev = 100 stotinki 1 Euro = 1.95583 leva (BGN)
- The European Commission has considered Bulgaria a functioning market economy since 2003. Bulgaria has made good progress in structural reforms over the last years, particularly through privatization and the reduction of state aid, the positive development of the banking sector and some improvements in the regulatory environment
Macroeconomic situation 2007
- Bulgarian economic growth continues its healthy development with GDP increasing at just below 6% year-on-year
- The unemployment rate continues to decrease and reached 8.4% in April– down from 9.1 % in the last quarter of 2006. Year-on-year inflation reached 4.2%in April and remains one of the key challenges of the economy
- Foreign direct investment in Q1 2007 fell slightly with EUR 771 million compared to EUR 790 million in the same period in 2006. Real estate accounts for 27.5% of all foreign direct investment in Q1 2007
Competitive advantages of Bulgaria
- Economic and political stability
- Functioning trade economy
- Minimum investment risk
- Incentive investment measures
- Competitive labour force price and reduced production cost compared to those in the European countries
- Strategic geographical location
- Liberalized access to markets with over 560 000 000 consumers
- Reduced Corporation tax: from 19.5% for 2004 to 10% during 2005, to 10 % since 2007
- Increased amortization norms (to 50%) for investment in new machines, production equipment and appliances; computers, peripheral systems and software
- Zero percent corporation tax in more than 100 municipalities with big unemployment rate
- Removed or facilitated are 160 regulatory regimens that comprise to 83% from all regimens proposed to be facilitated in compliance with IMF (International Monetary Fund)
- NATO membership
- EU membership
- Consumption stimulation by reduced Income tax
Access to sea
There are two major seaports on the Black Sea - Varna and Bourgas. The river Danube is both a Bulgarian and an international waterway. Five pan-European transport corridors pass through Bulgaria (a series of ten multi-model transport systems were designed to connect the original Trans European Network (TEN) to the infrastructure of the latest acceding countries.
Railway network
Approximately 22% of the network is double track and just over 61% is electrified. Most of the rail network is designed for speeds of 80-100km per hour.
Road network
The total length of the national road network is 37 288km and the average density is 0.33km per sq. km. According to the Roads Act ( SG No76/06.08.2002), roads in Bulgaria are divided into two main categories - national roads and local roads. National roads comprise all motorways and roads of grades I, II and III (roads carrying at least 1000 to 6000 cars daily). Approximately 90% of the roads are covered with asphalt. It consists of about 4 300km of which is standard gauge (1435mm), the rest being narrow gauge (960mm).
Air transport
Bulgaria has ten civil airports, four of which have international status. The other six serve agricultural aviation. Air transport activity at the moment is concentrated in Sofia, Bourgas and Varna. These airports primarily serve international routes.
City transport
- public transport in big cities: trams, trolley-buses, buses
- elsewhere: buses
- inter-city transport: plane, train, taxi
- rent-a-car: AVIS, Hertz, Intertel, Europcar, Budget and International Car Rental in Sofia, the country's big cities and resorts.
Does and Don'ts of Buying in Bulgaria
Does
Always use a reputable English speaking solicitor / lawyer
This ensures the buyer will be secure in the knowledge that all of the necessary legal checks ensuring title to the property are carried out, that there are no debts against the property and if it is an off-plan or new property, the developer has obtained all the necessary building permissions.
Visit the property/site before purchasing
Although some villas, apartments and rural properties can seem extremely cheap by UK standards, it is necessary to bear in mind that the least expensive will almost certainly require work in order to bring them up to a standard that a buyer may be used to. It is therefore advised that you do not buy without having seen the property or site and plans in advance.
Make an effort to find out about the area/facilities
It is advisable to find out if the property or development you are interested in buying is in an area that is in high demand for or is expected to be by the time developments are completed. If it isn’t in a desirable area with good facilities and a decent road network, then it could potentially be difficult to sell on.
Always read the small print of any rental guarantee scheme
Rental guarantee schemes have increased over the last few years and being used as an incentive to attract buyers. Although they might look fantastic in principle, the buyer could find it is reflected in the purchase price. The buyer should ensure that the guarantee has some substance.
Make price comparisons with other ‘similar’ properties
This will help you get good value for money.
Find out about the detail and cost of the management of your building if it is in a new development
It is in your interest for the building to be well maintained. Many Bulgarian developers do not make adequate arrangements for this. Check the detail of who will be doing it and what it costs. Current annual rates are seven to 10 euro per sq m. If lower than this, it is unlikely to be done well.
Check out your tax position income, capital gains and inheritance tax
With imminent entry into the EU, rigorous reporting of tax authorities to EU standards will be expected.
Look into the legal position of inheritance
Bulgarian law on inheritance may be completely different from those in your native country so it is worth investigating your legal stance in advance.
Shop around when it comes to transferring money
There are now many currency transfer agents who can save you a significant amount, look for one which has a good reputation.
Don’ts
Expect the legal system to be the same as it is in your country, it is not
There is a rigorous system, but expect the process to be different.
Expect the locals to speak English
Make an effort with a few Bulgarian words since English has only recently been taught as the second language in schools and in many rural areas, no English will be spoken.
Sign any documentation unless translated by an accredited translator
For obvious reasons, have all documentation translated. As with any country, it is wise to be aware that there are dishonest estate agents/developers out there, so always ensure you know exactly what you are signing and agreeing to.
Expect your purchase to make immediate and massive gains
It is likely that Bulgarian property will go up in price significantly but do not expect it to happen straight away.
Use your mobile phone on visits, buy a local SIM card
There are now three mobile phone operators, M-Tel, GloBul and Vivatel and one mobile phone rental provider, Intrafonica Bulgaria, also offering mobile internet delivered via GPRS, and SIM cards for hire, so you can avoid inflated roaming rates and paying for being called.
Forget that owning a property does not give you an automatic right to live in Bulgaria on any kind of permanent or semi-permanent basis
This also applies even if you have a Bulgarian spouse. You will need to undertake application process at the local passport office once in Bulgaria to secure a residence permit. |
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