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| Bulgaria, located on the Balkan
Peninsula in Sou-theast Europe, is arguably the most stable country
in the region. The country has been spared the tur-moil of unrest
that most of it's neighbouring coun-tries have went through on the
road to establishing democracies. The population of Bulgaria is appro-ximately
7.6 million. Bulgaria is a country blessed with a great deal of geographical diversification. Three mountain ranges run through the country (Stara Planina-The Balkans, The Pirin and the Rhodophi) offering skiing in the winter. The Black Sea borders the country to the east, with 354 kilometres (218 miles) of coast line. The climate on the coast is warm and dry in the summer, making Bulgaria's Black Sea coast a favo-urite holiday destination for many Eastern Europe-ans for the past 35 years. In the 1980's, many We-stern Europeans began to discover the Bulgarian coast as a holiday destination. The average tempe-rature of the Sea along the south coast is 25 C (77 F) in July and August. In 2001, a new government was elected by the peo-ple of Bulgaria, the NMS2, which is headed by the former King of Bulgaria, Simeon II, who was exiled in Spain at the age of six. Under the NMS2 govern-ment, Bulgaria has made great strides on the road European integration. The target date for Bulgaria to join NATO is 2004, while December 2007 is the target date for integration into the European Union. In 1999, the Bulgarian currency, the Lev, was tied to the German Mark, and subsequently the Euro. This has helped stabilise the Bulgarian currency and improve the economic conditions in the country. Why Bulgaria ? We at Sun Coast Villas Ltd. realise that many of you may not be that familiar with Bulgaria and wonder “Why would anybody want to invest there?” We therefore decided to put this question to ourselves and local agents in the real estate market. The following is a “short list” of why an investor should invest in Bulgaria. • Relatively inexpensive property in comparison to other holiday resort areas in Europe. • Steadily rising property prices- Property prices raised an average of 20% last year alone in Bulgaria, with higher escalation along the coastal areas and in the mountain regions. • Bulgaria has one of the least expensive costs of living in all of Europe. • Bulgaria is blessed with a great deal of geographical diversification- many fine sandy “blue flag” beaches on the coast with skiing in the mountains in the winter. • Bulgaria has a history dating back over 7 millenniums, giving the country a great deal of cultural heritage. • Bulgaria has a pleasant climate, with some areas receiving over 300 sunny days per year. The Black Sea Coast averages over 1,700 hour of sun during the tourist season. • Bulgaria abounds with a wealth of natural mineral springs and organically grown produce. Many of the foods are raised naturally, since commercial farming is not widespread in Bulgaria. • Bulgaria is close- Bulgaria is in Europe so naturally it is within 3 hours or less from the United Kingdom, Holland and Germany. Some companies offer charter flights directly to the coastal areas. • Bulgaria is stable- Bulgaria has been undoubtedly the most stable country in SE Europe. While surrounding countries have suffered through wars and civil unrest, Bulgaria has remained peaceful. • Bulgaria joined NATO in 2004 and is set to join the EU in 2007. • Bulgaria is financially stable. - In 1999 the Bulgarian currency was tied to the German mark and subsequently the Euro, stabilising the currency and allowing for economic growth. • Property investments in nice resorts are expected to return and average of 10%-15% annually, before tax. • Property values are expected to rise between 10%-15% per year for the foreseeable future. |
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