There are two main reasons why you should be interested in Bulgaria.
An almost unrivalled investment opportunity
Quality of life
Of course, these two need not be exclusive, indeed, nor should they.
However, whatever your motivation, here are some straight-forward facts about Bulgaria;
Bulgaria is scheduled to join the European Union in 2007.
The Black Sea airports are about 3 hour’s flight from Britain.
Bulgaria has recently joined NATO
The currency is stable and linked to the Euro
The Black Sea coast boasts 220km of sandy beaches
The Black Sea coast has over 1700 hours of sunshine from May to October
The diverse geography and climate allows both ski and beach resorts.
The general cost of living is one of the cheapest in Europe
All major British tour operators will be on the Black Sea coast next year.
Property prices are currently some of cheapest in Europe and last year rose by over 40%
We believe that Bulgaria offers an almost unrivalled investment opportunity and confidently predict at least a 100% return on your investment by the end of 2007, if you invest wisely now.
BPI offers a complete cross section of selected investments from individual low cost plots of land and houses to luxury apartments at a discount (ready for Aug 05) and Villas in the most exclusive areas, this type of investment always command a premium.
Of course, to many, quality of life is more important than financial reward. This is exemplified in the beautiful sweeping sandy beaches of the Black Sea coast, the rugged mountainous regions perfect for walking and the majestic yet challenging ski slopes, Bulgaria truly is an undiscovered gem, where you can find all this beauty combined with a delightful lifestyle at a price you can really afford.
Bulgaria has been undergoing a transition from a state controlled socialist economy to an open market since 1989. Recently, main economic indicators have stabilized, and Bulgaria is all set to join the EU in 2007 and has complied with 26 out of the 30 EU accession criteria qualifying on entry a massive ˆ4.5 billion in EU financing for 2007-2009 enhancing tourist attractions.
Historically the expectation as well as the actuality of joining the EU drives economic growth and property on an upward slope, before anything in reality has changed on the ground. We believe that Bulgaria will be no exception to this trend. Right now Bulgaria is one of the least expensive countries in Europe, making investment an attractive option.
The Times recently reported that "if Bulgaria joins the EU there is a possibility that property prices could take off, rewarding early buyers."
Bulgaria's national income (GDP) per person has increased by a whopping 24% from 1999 to 2002. The good news is that (unlike the UK) its government debt is declining. This is very important for smaller, poorer countries that can ill-afford to maintain large budget deficits like the more prosperous Western European nations.
It is not surprising that Bulgaria is booming. Not only does it boast a picturesque coastline and formidable mountains but its climate is hot in the key summer months with refreshing breezes. Just as importantly your living expenses are low. A decent meal can be bought for under £6 and that is for two people. A pint of beer is 60p and a very palatable bottle of wine only £2.
Another reason to buy property now is that Bulgaria is expected to open its air space for European air carriers in 2005. This will make the Bulgarian air travel market a lot more competitive and consumers will benefit from greater choice and cheaper flights. Further more another ˆ120 million is expected to be invested into the Black Sea airports of Burgas and Varna.
The really interesting aspect of this tourist development is that the development of resorts and hotels is lagging behind the red hot pace of soaring tourist numbers and spend. Tourism revenue has jumped 30% in the first five months of this year. This means that investors may enjoy the unusual scenario of rising property prices and rising or steady rental yields.
Over all Bulgarian property is reported to be rising at 15%-30% a year. In places like Sunny Beach growth is higher and likely to continue for several years to come. Typical of smart investor sentiment is an article published in a specialist French magazine "Paris Enterprises" which led with the headline "Let's Invest in Bulgaria now- tomorrow will be too late." Among its highlights about Bulgaria was the fact that the opinions of all the top international institutions cite Bulgaria as economically promising. These include the EU, IMF, EBRD and the EIB. Bulgaria is also lauded as one of the few South Eastern European countries that avoided ethnic conflict.