Latest Bulgarian Property news

December 2006: BulgariaWise News Article

Low prices, long-term investment prospects and changes in lifestyle have fuelled record-high property sales in Bulgaria for 2006, a realtor data shows.

The year-end count of transactions is forecast to reach 260,000 at a combined value of more than EUR 5 Billion, according to figures of BulgarianProperties.com, partner of foreign property buyers in Bulgaria.

The experts comment that following the massive 25% to 30% annual capital gains of recent years, Bulgaria's property market is now showing a much more realistic growth rate of 15% so far this year, setting the pattern for more predictable and sustainable long-term investment.

EU membership in January 2007, the nationwide development of major tourism and infrastructure projects, the planned expansion of low-cost airline routes in 2007 and mortgage facilities remain the main attraction for making a property purchase in Bulgaria.

The trend to buy a home abroad has now moved to a new level with more and more people buying overseas with the intention of emigrating. Recent research findings show that over half of UK home-seekers aged between 18 and 29 would consider buying abroad and the UK Office of National Statistics has reported that some 198,000 UK citizens, almost 4,000 a week, left the country last year to live overseas. The number of Britons living in Bulgaria has doubled in the past year alone, with more than a thousand British families given residency here.

BulgarianProperties.com say many buyers are now seeking a permanent residence, rather than a second home and are planning to live and work in Bulgaria.

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