Inhabited since prehistoric times, Bulgaria is home to a host of
traditions, cultures and peoples. Possessing remnants of the oldest
processed gold in the world, the most ancient copper mines in
Europe dating back to the 5th millennium BC and examples
of treasured Thracian architecture from the late Bronze Age, the
country is underscored by a wealth of historic archives.
Currently one of the least populated European
states, Bulgaria is approximately the size of England, but with a
population of only eight million people. Not only enjoying 354 km
of Black Sea coastline with ten blue flag beaches, the country also
boasts 37,000 km of mountainous hiking paths, a series of Roman,
Greek and Thracian historical attractions, including nine UNESCO
world heritage sites and a blossoming ski culture.
On the back of strong economic and tourism
growth, Bulgaria’s property market has become renowned. With 98,000
mentions in the international press in 2007 (according to Ernst and
Young), few can have missed the huge media hype accompanying this
country. Stories detailing the phenomenal gains of up to 47.5%
early investors have made, namely along the Black Sea coast and in
Sunny Beach have had a knock-on effect for investors. Spurred by
tales of such returns, foreign investors in their masses sought to
buy here prompting a period of rapid construction and development.
In 2008, Bulgaria has become one of the most popular property
investment destinations for British buyers, who between them invest
in thousands of Bulgarian properties each year. Despite regular
price rises, entry costs are still low by European standards
although the merits of the country’s investment future have
recently come into question as problems with overdevelopment come
to the fore.
Still in this Chapter
Is this is good place to Buy?
Which type of Property should you go for?
Hotspots
The Purchase Process
Mortgages
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