BULGARIAN PROPERTY DEALS
Published by Asta Bridge on Friday, March 23, 2007 at 3:24 AMOver 29 per cent of the property deals concluded in Bulgaria in 2006 involved foreign participation, executive director of real estate company Asta Bridge Anton Pankev said.
Nearly 66.87 per cent of all foreigners who bought property in Bulgaria came from UK, he said as quoted by Bulgarian National Radio. The British interest was attributed to regular flights between Bulgaria and the UK.
Irish investors concluded nearly 13 per cent of the property deals in 2006. Americans were involved in six per cent of the deals, Germans in four and Italians in three per cent.
Data showed that 39.93 per cent of investors were interested to buy the bulgarian property in winter resort property, followed by sea resorts with 31.13 per cent.
The capital of Sofia attracted 8.11 per cent of property buyers, Pankev said.
The capital of Sofia attracted 8.11 per cent of property buyers, Pankev said.
UK citizens were interested mainly in bulgarian property investment and their main motivation for purchase in Bulgaria was price.
The largest number of deals involved the purchase one-bedroom apartments in the popular resorts worth from 30 000 to 80 000 euro.
Irish bought one or two-bedroom apartments at the seaside or in the mountains, investing from 50 000 to 100 000 euro. The most popular areas that Irish clients are purchasing in are Bansko, Varna and Kavarna. Bansko is located 180km south of Sofia, it was already a residential area boasting mineral spa’s as well as the Rhodope Mountains, Rila Mountains and the Pirin Mountains. The area attract clients with skiing, hiking and now golfing available from June 2007 with the 18 hole Ian Woosnam designed golf course. Investors will be now be able to rent apartments over a 12 month period. The main reasons for clients purchasing in the Varna and Golden Sands area is first the accessibility, with frequent flights direct from Dublin to Varna. The coastal area will also have 3 golf courses completed by the end of June 2007 which again will extend the rent ability from 5 months to 6 months.
The bulgarian property market is beginning to attract Spanish and Maltese investors, seeking construction sites at the seaside and the mountains.
The average property value at the seaside in 2006 amounted to 46 900 euro and that of property in winter resorts reached 90 000 euro.
The average property value at the seaside in 2006 amounted to 46 900 euro and that of property in winter resorts reached 90 000 euro.
Apartments in Sofia varied between 30 000 and 80 000 euro in price, Pankev said. Property prices in winter resorts are higher because of the year-round usage possibility.
The Bulgarian property market recently experienced increased foreign interest in the development of spa centres like those in Sandanski, Asta Bridge said.
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I am interested in this company and if you continue develop this blog with more articles i will be here for a wile