| Can
Bulgarian Property Investment Stay on Top?
Many politicians and government officials,
as well as, other individuals, believe that Bulgaria's accession
to the EU and NATO will drive real estate prices up practically
overnight. Let me tell you that this will not happen that
fast, but it will happen over a longer period of time. The
accession to the EU and NATO has both positively affected
the development of the Bulgarian real estate market, which
gave us a sense of security to Bulgarians and foreign investors
alike.
The Bulgarian property investment market has
dealt with serious changes in the beginning of the year. The
residential property market in the larger cities was dealt
with in US dollars. The decline of the dollar against the
euro has forced most of the sellers to convert the dollar
price values into euro. What's happening here is that they
did that at an exchange rate that was a great deal different
from the market which is what drove sales prices up at least
10 per cent.
Although prices have been driven up, this
is a really positive thing for the market in the long term.
The Bulgarian lev is pegged to the euro, and the average salary
there is denominated in leva or in euro, and so it just makes
sense to have property investment prices to also be denominated
in these two currencies. The commercial real estate market
has already experienced that a year ahead, except the reasoning
behind it is different.
All of these positive economic and political
signals combines in the Bulgarian economy have been the driving
force behind both the Bulgarians and foreign nationals in
purchasing residential properties with an investment purpose
in mind. They can do this because of the excellent potential
that the rental market still offers provides to its buyers.
These properties are usually leased to foreign
managers of multinational companies or foreign diplomats at
high rental levels. Then, in few years and after very large
capital gains are expected from the sale of the property.
This makes a great deal of sense and it is expected to happen,
if the Bulgarian economy continues to grow at the rate that
it is going at now.
The government has taken a small but significant
step in helping to get the properties market moving in that
the process of acquiring all necessary permissions for a new
construction has been shortened a great deal. The market is
still waiting for the long expected change to the constitution,
that will allow foreign nationals to get land in Bulgaria.
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in Bulgaria - An Enviable Investment
Bulgarian
Property for Sale - An Eye to Investment |
Buy
Properties in Bulgaria: Investing in Bulgarian Real Estate
Prosperity in the Bulgarian Property Market: How Much Longer
Can It Last? |
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Investment - Property Profits |
Bulgarian
Property Investment Off Plan & Taxes |
Is
Property in Bulgaria a Good Investment? |
