400 MILLION EUROS are now committed to Bulgaria's flagship project "Super Borovets". The investment potential can he compared to that of Spain over the last 25 years, only now British buyers are well aware of the year on year returns realised during the development of the Spanish property market. The average price for a 4/5 bedroom villa in Spain is well over £200,000 whilst a brand new 4/5 bedroom villa adjacent to the ski lifts of the Super Borovets project and a short walk to the new golf courses can be bought from just £75,000.
Four or five years ago Bulgaria was not remotely attractive to the Western investor. However, its beautiful beaches, hot summers and warm Mediterranean-style sea only 2.5 hours flight from the UK as well as its extremely low cost of living has turned Bulgaria into one of the hottest investment spots in Europe - Lower prices and higher returns than found in comparable countries.
- One of most stable yet quickly developing economies in the world
- Increased tourism 40% since 2002
- Increasing investment in Bulgaria year on year.
- Property prices rising 20-30% per annum
- Extremely low cost of living
- Constantly rising property prices
- Accession to EU in 2007 should ensure long term capital gains and rental opportunities.
In 2003 tourism growth increased by 23% on 2002. In 2004, Bulgaria entered into the top ten tourist destinations worldwide for the UK market. Developers are busily creating holiday complexes in the efforts to meet the shortfall in beds for tourists. Annual growth in property prices is currently averaging 30% ... and set to continue. The prices have been greatly influenced by the European Union and will be even greater after the country joins the EU in 2007. Millions of euros are pouring into Bulgaria to improve infrastructure and prepare for the EU accession . .. and house prices are expected to double between now and then.
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