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A
cultural treasure
trove stuffed to
bursting with the
ancient monasteries,
churches, mosques
and Roman and
Byzantine ruins, and
located in the very
heart of the
Balkan Peninsula is
Bulgaria.
Investors Provident
have recently
launched their
investment section
on Bulgaria and
offers its clients
some very diverse
and high capital
growth investment
opportunities.
Since its escape
from the yoke of
communism,
Bulgaria has
struggled to join
the modern world. It
became a member of
NATO in 2004 and is
due to join the
European Union in
2007. With the
Black Sea to the
east, Romania to the
north, Serbia and
Macedonia to the
west, and Greece and
Turkey to the south,
it's a country that
retains a charming
mixture of the old
and the new.
The capital of
Bulgaria is
Sofia. Almost
completely rebuilt
after the bombings
of World War II, its
city centre has a
weird and wonderful
mix of architecture;
right down to a
yellow-brick
boulevard. North of
Sofia is the
Balkan range,
Bulgaria's
longest mountain
chain, which flows
down to the
Danube. For the
sun and sea, the
Black Sea coast
offers some of the
best in rest and
relaxation at
affordable prices.
The southern section
of the coast is home
to picturesque bays,
spacious beaches,
dunes and a warm
sea.
There are no words
to describe the
phenomenal rise in
property prices
taking place in
Bulgaria's tourist
areas. Some
developers have seen
their tourist
property complexes
rise in value in
excess of a colossal
100% in a year! Even
if spread across the
board, it still
averages out to a
sizeable capital
growth of 35%. But
why this discovery
after all these
years?
Since the collapse
of communism in
1989,
Bulgaria has
been opening itself
to the West, and its
natural attractions
have not gone
unnoticed. This is
hardly surprising
given that Bulgaria
offers long sandy
beaches, summers of
clear blue skies and
a warm Mediterranean
style sea only two
hours flight from
the UK. This,
coupled with a
phenomenally low
cost of living, and
its transition to a
fully functioning
market economy has
made
Bulgaria one of
the major hotspots
within Eastern
Europe. Where else
would you get a
delicious
three-course meal
for two with a
bottle of good local
wine for £8?
The World Tourism
Organisation placed
Bulgaria near
the top in terms of
tourism growth. In
2003 growth
increased by 23%
compared to 2002 and
the proceeds
comprised 13% of the
country's GDP.
Bulgaria's
rising
property prices
have been greatly
influenced by the
European Union which
has had a tremendous
impact already. This
will be even greater
after the country
joins the EU in
2007, if as is
expected, it follows
the pattern
demonstrated by
Ireland.
Investors Provident
is one of the few
companies offering
attractive
investment
opportunities in
Bulgaria along
the
Golden Sands
(Black
Sea Coast),
Bansko (ski
resorts), city
centre Sofia, towns
of
Burgas and
Varna, and other
growth areas.
Properties can be
bought for as little
as £20,000 on the
beach front for
studios and one beds
up to £120,000 for 3
beds / 2 bath
apartments.
Investors who have
never considered
Eastern Europe as
part of their
strategies are now
rethinking their
moves. 20% to 30%
capital growth in a
space of just 6
months is a return
that will attract
novices and
professionals alike,
and this is just the
beginning. |
