Property in Bulgaria is the fastest growing asset in our country. Some real estates have gone up with 50 % for one year, especially the ones in Sofia, in the Black Sea beach towns and resorts and in the ski resorts ( Bansko). There are great natural attractions - high mountains, beautiful and clean Black Sea coast, preserved rural areas, minimum urbanisation, thousands years of history, etc. Nowadays Bulgaria is considered as the fastest growing tourism market in Europe. This is something that foreign buyers of property in Bulgaria appreciate the most. Together with the constantly rising prices, buying property in Bulgaria is one of the best investments that one can make these days.
Further Bulgaria was invited to become a NATO member targeted for 2004 and full EC membership is scheduled for 2007. Now is the right time to invest in property in Bulgaria.
Bulgaria real estate prices are by far lower than other destinations in Europe but the estimated acceptance of Bulgaria in the European Union provides unprecedented growth potential that will certainly boost the prices of the Bulgaria real estate in the near future. Bulgarian market or real estate is still unexplored and undeveloped to a certain extent, which makes it very attractive and profitable.
The Country is increasingly on tour operator’s radar screens, with tourism numbers forecast to increase 15-20% in 2006.
In 2005 the European Union’s open air agreement comes into place, allowing all European based airlines to fly to any city. This should increase tourist numbers as flight prices become more competitively priced.
Coastal and mountain regions have already experienced 100% hotel/apartment utilization over the busy periods, thus it would appear that demand is outstripping supply in these areas.
China in negotiations to allow its citizens to travel to beach resorts for vacations. Chinese spent $15bil on travel last year.
The number of tourists to the country has increased steadily as the indicated in the graph below. Tourism in Bulgaria is forecast to grow from 4 million in 2004 to 11 million in 2020 (source: World Tourism Organization).
The key winter period from December through to the be­ginning of April averaged 183,000 visitors a month with a growth rate of 19% on 2003. This is expected to increase by 16% in 2005/6.