Bulgaria Property Off Plan
Growth Areas
Well-located properties, such as Sunny Beach a purpose built holiday
destination located on the southeast Black Sea coast, produce very high
quality of build and internal finishing. Off plan properties in this
area provide investors with a very competitive price structured product
that has a ready-made rental market when complete.
Typical Yields
Since 2002 real estate figures in Bulgaria show a growth of 50% per
annum effectively doubling a property's value in two years.
Conservatively projected figures for the year 2004 suggest average rises
of 23% with "well located" properties to far exceed this figure.
Property Types
Varying property types allow every budget to be met with studios, 1 and
2 bed units being available in most new developments.
Tenant Profiles
The vast increase of tourist interest in Bulgaria Black Sea Coast, which
is rising by 30% per annum from figures given by Bulgarian Tourist
Information, allows us to look to the future owners. Although the UK
market is growing; up 62% this year, the German, Scandinavian and
Russian tourist industry provides very strong long-term links with the
Black Sea Coast.
Finance Options
Mortgages secured on Bulgarian property are now available up to 70% of
the property price. Standard rates currently sit at about 7.5% to 8% but
are expected to drop in 2005.
Any Risks
Potential risks can be minimized with selecting the correct real estate
agent to represent you in your purchase. The legal system can be a
problem if proper legal advice is not taken before any potential
purchase. We only use top lawyers as recommended by the British Embassy.
Future Prospects
Current prospects remain high but the introduction to the EU in 2007
should generate a boom in real estate prices.
If you would like further information, please
contact us, we will be glad to help.
Bulgarian Property Off Plan
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