Bulgaria became a hot spot for property investments.
There are a number of factors that have a great impact on the growth potential of real estate investments in Bulgaria.
Here are some of them:
1. Economy in Bulgaria
The GDP growth in Bulgaria was 5.6% in 2004.
2. Political Stability in Bulgaria
Bulgaria has been politically stable sine over a decade now.
3. Foreign Investments in Bulgaria
Foreign direct investments doubled since 2001 and reached 1.5 billion EUR in 2004.
4. Favorable Property Laws in Bulgaria
Bulgaria has a very favorable and liberal foreign investment law. According to the Bulgarian Constitution and legislation foreign investors and companies can invest in real estate in Bulgaria either personally or through a local entity.
5. Bulgaria to join the EU
Bulgaria is expected to join the EU together with Romania in 2007.
6. Tourism in Bulgaria
Bulgaria's beautiful nature with white, sandy beaches and excellent winter ski resorts attract millions of tourists each year.
7. Low Cost Flights to Bulgaria
There are plenty of low cost flieghts originating from many European airports to Bulgaria's capital and the tourist hot spots.
8. Property Prices in Bulgaria
Compared to classic property investment locations such as Spain, Bulgaria's real estate market is not yet matured. Property prices in Bulgaria are by far lower than other Eastern European destinations offering excellent growth potential for real estate investors.
9. Property Market in Bulgaria
The Bulgarian property market is stable, with property appreciation rates of 22% last year. The relative affordability of property in the country with prices starting at 30,000 Euro Bulgaria has been attracting a growing number of Irish buyers.
10. Bulgaria applied to host the Winter Olympics 2014
Bulgaria is one of the favourites to host the Winter Olimpic in 2014.
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