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

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A part of the modernization program of the resort is the realization of building projects in the neighboring Razlog. A two-room apartment in a district block outside the center can be rented for 250-350 Euros, while in the central area the price can get up to 350 Euros. According the consultancy company Соlliers International the residences in Sofia have not increased dramatically. According to a recent research by ЕRА Real Estate the prices in Sofia are the lowest among European capitals. And the water may heat up to 25 degrees above zero. And these figures should be assessed taking into consideration that the deals are generally not concluded at the real price, but on the tax authorities’ defined base price.Foreigners have brought not only money in Bulgaria. As a whole the geography of the foreign buyers in the country is very diverse, commented the Digest.Psychological comfort +28 degrees CelsiusOnly recently an internet launched an inquiry asking the participants why they will choose to buy real properties in Bulgaria. Bulgaria has lot of natural advantages over its competitors – mostly over the hot Mediterranean. Bulgarian property remains up to 40% lower priced than in these example countries. But today the dream for cheap Bulgaria seems unreal. Earlier only houses within the city limits were considered to be prestigious, and it was not rare to see a magnificent villa outside the city, and another one right next to it, built back in the socialist era, already falling apart. For the last year only the volume of residential areas in process of construction in the Bulgarian mountain zones has practically doubled and this is mainly due to Bansko. For the year 2006 specialists say that the total investments in real properties were approximately 10 billion euro, 2.5 billion of which were contributed by foreign nationals. However the unbeatable number one answer was: “I like the country - it has sun, sea and mountains”. However, prices are predicted to rise accordingly, as traditionally occurs following accession to the EU, assuring property investors of significant capital growth and a secure investment. In Bansko, the major Bulgarian ski resort that has spectacularly developed, a two-rooms apartment with an 58 square meters area can be purchased for approximately 55.000 Euros. In comparison to that, the prices for a residence on the Romanian coast, right outside Constanta, towards Ovidiu, can reach 75.000 Euros for a three-room apartment. In Costinesti, a studio of 58 square meters costs 44.000 Euros and a villa with 119 square meters can reach the price of 120.000 Euros. In Sinaia (Romanian ski resort), a studio in the Belleview ensemble will cost approximately 50.000 Euros, a two-room apartment will cost around 65.000 Euros and the price of the duplex is rising up to approximately 120.000 Euros. In the long perspective these locations will blend in a single “Razlog-Bansko” resort area de luxe, with its own SPA centers and golf-courses.The construction of new residential buildings is the main drive in the development of Bansko. It is not a coincidence that the prices per square meter in these cities are among the highest in the country. More and more frequently French and Israelis appear, as well as Russians. Now the villa zone around Sofia is just as luxurious as the Podmoskovie region is for Moscow.There is also interest in old village houses located 10-15 km. OfficesDespite that entertainment and commercial complexes are being built everywhere, Sofia bears the brunt of the sector. So the Bulgarian specialists are already talking for a “healthy investment boom”. Some analyzers suppose that some 50% of the real property deals in Bulgaria are concluded by British nationals. Some of the answer options included business in Bulgaria, that Bulgaria is already in the European union and is easy to travel throughout Europe from there, that the country is a profitable and still not too expensive investment and others. Thanks to them the volume and quality of the constructions has substantially improved, as well as the level of the offered services. The analysts at Edil Real Estate Company affirm in a real estate market analysis on Bulgaria and Romania that most of the foreign investors in Bulgaria are businessmen that look for holiday apartments to rent, but also, investors that buy homes to sell at a better price. The business has calculated a 20% price raise but for the office areas prices can rocket up 30-40%, and maybe more. The capital city, which proclaims itself to be center of the Balkans is currently holding first position in the list of most profitable office investment in Europe. The country boasts low prices despite its admission into the EU in January this year. The country has between 500 and 2000 springs, but 30% are being used currently and the remaining ones are patiently waiting for their new users. The demand is multifarious and not only for closed-type residential complexes. The example – a project performed by the Russians for the construction of villa settlement in the village of Stoykite, close to the Pamporovo complex in the Rhodopes. The numbers of the visitors in the winter resorts of Pamporovo, Borovets, and especially Bansko are certainly not less than the ones coming to the summer resorts of Sunny Beach, Golden Sands and Albena. The prices, though, are higher in Mamaia and Navodari resorts, where a residence costs 120.000 Euros. The private-owned and already half-way reconstructed Pamporovo, Borovets and the East-European Mountain Mecca – Bansko, attract a large number of foreign investors. The rental market from the Danube and to the south is similar to the one in Romania. The Russian investors for now are almost in last place, but as Plamen Grozdanov, Bulgaria’s Ambassador in Russia said – there are Russian “settlements” already appearing in Bansko too. The summer temperatures rarely rise above +28 degrees Celsius. There are many lakes, waterfalls and caves, much of which remains untapped and unspoilt by the rising tourism the country is experiencing. There is also demand for lands located in not as renowned resort centers, but suitable for build-up of hotels and holiday settlements. There is also interest in the mineral springs and the areas in proximity. This leads us to question ourselves – maybe the time has come when price will not be the most important factor when choosing to make an investment. Upon joining the EU, the cities of Warsaw (Poland), Prague (Czech Republic) and Bratislava (Slovakia) climbed more than 10 places in the 'Mercer Cost of Living' survey. Within the Tampa Gardens project the prices of an apartment start from approximately 62.000 Euros and go up to 372.000 Euros. Инвесторы уже не будут покупать любой ценой. Первое, из-а того, что мировой кризис не позволяет появлению беспорядка на болгарском рынке, а второе- необходимость в недвижимом имуществе в Болгарии все еще большая. Поэтому в близжайшие годы на болграском рынке будет множество новых проектов, а площади больших торговых центров увеличатся в много раз. При населении 1,2 млн в Софии всего 600 тыс. Так говорит руководитель отдела недвижимого имущества в "Банк Австрии Кредитанштальт " Райнхард Мадленчик. Также не ожидается и резкий спад цен на недвижимое имущество в Болгарии.