Britons living in Bulgaria. Guide to Bulgaria, Sofia and Varna

Home Builders, Dream houses from developer, Building and ...


And don't get me wrong, I won't blame it on the people from the Island who decided to venture some capital in Bulgaria. But if they worry about the value of their investment then they should also care about what surrounds their estate. Given the speed of construction work that is not just a fear, it is a looming danger. I doubt people who bought a flat on the seaside from the web will care about that.On the positive side I always recall the situation in Prague. Investing in Bulgarian property still looks lucrative. Just browse the web or Google "Bulgaria and real estate" and you will find why it is actually good to have a country with gorgeous, still relatively well-preserved nature in the EU. Now it is a growing attraction for tourists and investors from all over the world.People wishing to buy or rent property in Bulgaria can do so like in any other country - simply by turning on their computer and hooking on the Web. Once a part of the old Communist block, Bulgaria was not a popular holiday destination for westerners. One may come to the sad realisation that in couple of years the sad picture of ugly buildings nested one over the other can overshadow the bright scenery you get from your window in Bulgaria. One of my biggest worries is that we may end up with over developed and ugly country and seaside. Only Spain and France are ahead as the top two markets for British investments in real estate.So it has become easier to get either an apartment on the seaside or a flat in a winter resort like Bansko for example. Prices there reached 1588 leva per sq m, a 14.3 per cent increase followed by Bourgas, having average price of 1312 leva per sq m.The highest increase of residential property prices was registered among the apartments offered in Turgovishte. Quest Bulgaria, an English language magazine for Bulgarian property investment, cited statistics showing that 8 in 10 overseas buyers in the country originate from the UK or Ireland. The Association of International Property Professionals (AIPP) described the position of Bulgaria as "phenomenal". The average price increased by 16.3 per cent reaching 810.6 leva per sq m.Price decrease was registered in none of the Bulgarian towns. The market is still vibrant and even if that brings pressure for the Bulgarians because of the higher real estate prices there are no complaints so far.There are even a growing number of British citizens who have started living in Bulgaria. The properties offered are varied: apartments, houses, ski chalets, luxury properties, even hotels.Stretching along the shores of the Black Sea, Bulgaria has become a growing favourite holiday spot for sea and ski lovers for a throng of new visitors. The relatively low prices are still the dominant pusher in the eastern direction. There is doubt this applies to those who are in it only for the expected profit of a future sale. There is no doubt that the requirements of the buyers for what surrounds their property can provide enough fire. There the growing number foreign owners did force the prices up but it also boosted the quality of construction. This type of pressure will come from people who get on the plane and look at what they purchase. What can put pressure on the local business and authorities are actually the new owners. What will be main reason is the mixture of desire to make quick money and the lack of strong control. You can actually a buy a house with a really cool view in a place a where you have fairly cheap daily air travel, too.When all is good there is no reason for concern or is there? You can think of Spain in the late 80s and try to recall what happened there.The comparison with Spain is not far fetched.