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Bulgaria's Popularity with Property Investors Soars
Updated: 2005-12-13

Bulgaria's Popularity with Property Investors Soars

Novinite.com

Business

Property investors have once again been alerted to the Bulgarian market with new figures revealing that there was a steep incline in the country's marketability in 2005.

With the prospect of the Winter Olympics arriving in Sofia in 2012 and full EU membership scheduled for January 2007, Bulgaria has become one of Europe's fastest-growing markets, according to the online edition news.assetz.co.uk.

Property investors are increasingly prepared to take advantage of an anticipated boom in the coming years, it adds.

According to official statistics, a total of 4,360,239 foreign tourists visited Bulgaria between January and October this year, which reflects a 5.79% increase year-on-year.

With ski resorts such as Bansko, Pamporovo and Borovets all reporting extremely strong business, property investors are showing a particular interest in the possibilities of buy-to-let investments. Also Europeans become increasingly likely to view Bulgaria as not only an apposite holiday destination but also a suitable place to live, the British online edition said.

Even more exciting for prospective developers were statistics from the Culture and Tourism Ministry released in August this year, which revealed that nearly 100% of the bed capacity in Bulgaria's major sea resorts had been booked.

"The investment in Bulgaria over recent years has been significant and it's really taking off as a major ski resort. This season it really seems to be competing with the more traditional resorts such as those in France, Italy, Austria or Switzerland," said as quoted James Berry, marketing manager for a ski and snowboarding travel insurance company.

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