The peak on the Bulgarian real estate market of which we were witnesses during the 2008 will come back after 8 years. This is the opinion of Orlin Vladikov - manager of a Bulgarian real estate agency. W expect an increased interest of foreign companies n buying industrial terrains and premises.
The main reason for the optimistic prognoses are the inflation processes in some European countries, they will force part of the investors to orient again to the real estate sector. We want to believe that Bulgaria will be re-discovered by many economical subjects who will relocate their business from western Europe and, middle east and Greece to Bulgaria. The taxation in Bulgaria is very attractive for foreign investors.
It is hard to say how many properties in Bulgaria were purchased by foreign investors. The reason is that in order to buy any Bulgarian property with land they need to register a limited company in Bulgaria and buy the property on the company. From the investment point of view large investments in the residential sector of the real estate market were made by a few Israeli companies mainly in the quarters Lagera and Lozenets in the capital - Sofia. The Russian and the Ukrainian investors are concentrated to the South Bulgarian Black sea coast and some parts of the north black sea coast.
The key to attracting more foreign investors is the development and discovering of Bulgaria as an attractive tourist destination. Another reason for the decrease in the investments in Bulgaria are the ongoing financial crisis in other European countries and Balkan area, as well as the frozen projects in Bulgaria which were developed by Spanish and Israeli funds.