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Investing
in Bulgaria – Which area is right for you? Bulgaria
is a very diverse country and so offers various investment options.
However, you
need to think carefully about which area and which type of property is
right for
you and your circumstances. Much of this will depend on your financial
circumstances but also whether you are simply searching for a idyllic
holiday
home, a renovation project, a rental property, something to sit on and
hope for
capital appreciation and so on… So lets
take brief a look at the options and what is available. The most
popular and
most well known area in Bulgaria is of course, the Black Sea Coast.
Here you
have the popular resorts of Sunny Beach, Albena and Golden Sands. There
are also
the major ports and cities of Burgas and Varna and then smaller quieter
places
like the fishing town of Balchik and the northern town of Kavarna. Most
people
opt for a new build apartment in one of the larger resorts, however
over
development is spoiling these areas and the infrastructure is
struggling to
cope. Supply of apartments is starting to outstrip demand and there is
little
resale market for new apartments and limited rental due to cheap
package tours.
The summer season in the likes of Sunny Beach and Golden Sands is
pretty short,
running from around April to end of September. However, if you are
looking for a
lively atmosphere, bars, clubs and a good beach, then these type of
resorts
maybe for you. The next
most popular investment is a new build apartment in one of the three
main ski
resorts – Bansko, Borovets or Pamporova. All have undergone
massive
development and much was made of the now failed Winter Olympic bid for
2014.
However these areas (particularly Bansko) suffer from similar problems
to the
larger coastal resorts with too much building work going on and
therefore a
dubious resale and rental market. Prices have been over hyped in these
resorts
but some are now having to sell for less than they paid for a year or
two ago.
But if you are looking for family friendly skiing with spectacular
scenery and
good restaurants then Bansko is a good bet. Another
popular area for investment is in city centre apartments in the likes
of Sofia
and Varna. Both these are now very expensive but offer better rental
returns and
resale options. Many
people are starting to look further inland for cheap property prices
and
charming rural villages. The area north of the Balkan Mountains, around
Veliko
Turnovo is popular with British buyers. It is a very pretty area but
the influx
of British has pushed prices up somewhat. Another popular area is the
flatter,
agricultural plains around Yambol and Elhovo. Property here is still
fairly
cheap and it offers a great escape for those seeking peace and
solitude, while
still being within a reasonable distance of the coast or larger towns.
The
central region around the city of Stara Zagora is starting to see a
hike in
prices and popularity and a golf resort is planned along with
regeneration of
old mineral spas. Before
diving into any property investment consider what you wish to get out
of it and
refine your search to areas that meet your requirements. Are you
looking for a
quiet holiday home where you can get away from it all and enjoy being
part of a
rural farming village? Are you looking for an apartment right on the
beach or
would a lovely village house a 30 minute drive away do? How about an
apartment a
few minutes walk from the gondola in one of the ski resorts? Do you
need to cover mortgage repayments from rent? Are you looking to buy and
sell on
quickly for profit or are you happy to use the property as a holiday
home and
make a good capital gain over a longer period? You need to consider all these points carefully before deciding on where to invest in Bulgaria For more tips and advice on buying property in Bulgaria get yourself a copy of My Bulgarian Property Nightmare: A Cautionary Tale for Would-be Investors. This ebook is full of useful tips straight from a Brit whose first Bulgarian property experience turned into a nightmare. It allows you to see what can go wrong and avoid the pitfalls as I share the benefit of my experience. In this true account you'll learn what can go wrong, what to do if it does and why Bulgaria is still a great choice for people keen to invest, holiday or live there. TheTravelBug Website - Bulgarian Advice and Property For Sale
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