Bulgaria Property Podcast 2008
In the last year, Bulgarian property has transitioned from being marketed as an emerging property hotspot to a location which now sits firmly alongside favoured overseas property destinations of old. With record real estate transactions under its belt in 2007, this has prompted investment property analysts to wonder what the future holds for Bulgaria’s real estate marketplace. In this podcast, we discuss the many reasons why Bulgaria continues to garner interest and discuss the kind of Bulgarian property investment opportunities still to be had in prime locations such as capital city, Sofia.
Both James and Libby discussed the following factors that keep Bulgaria rooted on the property map:
Concerns from credit crunch crisis effect
Bulgaria thus far has not been affected by the credit crunch crisis, which is affected many other countries. Its banking system is less tied to the UK and US banks. Bulgaria has many buyers from Russia and Romania, plus the domestic market is booming at present, so less reliance on UK and Irish investors.
Positive effect of EU entry
A increase in US buyers and investors, James believes has come from the EU entry with many expats moving to Bulgaria and working for the likes of Google and Microsoft.
Forecasted to keep rising 15-20% per year, with a specific project from Obelisk that could see returns of 145% in 5 years.
Bulgaria better than neighbours
Bulgaria still has a low cost of living and when compared with the likes of Romania seems cheap. It also has much better weather than Romania and Ukraine.