Bulgarian Real Estate and Land Investments
It is hard to believe that my first trip to Bulgaria was back in 2008! Since then a lot has happened both here in the UK and over in Bulgaria… We have had some great trips out to Bulgaria viewing properties and land for sale, consumed lots of Bulgarian wine and met some fantastic and very interesting people. It is amazing how friendly the people are in Bulgaria, so friendly in fact that when a group of us went to visit some land on top of a mountain, the owners insisted us British folk visited their home, family, friends and neighbours! With a couple of other property viewings later that day we told the land owner, “We would be delighted however we would need to be quick”.
A short drive followed before arriving to a selection of meats, cheese, pickled cabbage, and home made wines and brandy… Before long the neighbours came round with more samples of home made wine… And you guessed it! We didn’t view any more Bulgarian properties that day! Bottles of home made wine were even given to our group when we finally said goodbye! This is one of many memorable occasions I have of Bulgaria… Another is when a group of us travelled by train from Sandanski to Sofia, 4 hours with Dave the rave and Bulgarian home made wine… Well, that’s all I will say!
So putting the amazing people, good food and fine wines to one side Bulgaria has great investment potential. Investing in Bulgarian property is also not as difficult as you may think; all you need is a good solicitor to setup a limited company in your name, being a foreign investor you will need to purchase all land / property through your company. This law is set to change however not just yet… And I am guessing when the law does finally change (making foreign investment that much easier) the prices of property will go up! (So it is better to invest now!)
To get an idea of the different types of properties available you should browse Google for “Bulgaria Property Agents” or “Bulgarian Real Estate”, I am sure you will find lots of info and article’s promoting this historic and gorgeous country, which lets not forget, is part of the EU! (Bulgaria joined in January 2007 which has since resulted in a significant economic growth rate) The fact Bulgarian property is quite cheap in comparison to other EU countries illustrates why Bulgaria is one of the hottest property investment areas available. What makes Bulgarian property investment so exciting is it offers property investors prices simply un-obtainable in other areas of the world! However, like all countries it is important to invest your money into the right location… So if you find a house or plot of land for sale in Bulgaria costing next to nothing, then you should do your homework! Areas near to Romania, towns that are isolated or land off the beat and track will cost much less to buy however you must consider things like transport, the installation of electricity, who will buy your house or plot of land etc? If you are looking to invest in Bulgaria then think location location location! Location is the key to any great real estate investment so why not book a flight and explore Bulgaria? Take the old train that runs the length of the country, first class costs much less than you think!… Fly into Thessaloniki and head north into Bulgaria, this will show you how close Bulgaria is to the Mediterranean.
So to conclude, I personally feel (and many others would agree) there is not another place like Bulgaria for property investment. From modern apartments for sale on the Black Sea Coast, stylish summer resorts, sandy beaches and more… To the stunning Pirin Mountains, skiing in Bansko, historic Sandanski and vineyards of Melnik… Bulgaria is blessed with a variety of different property investment opportunities and it has more than its fair share of natural resources. I even heard that the Bulgarian government recently announced plans for a major expansion of Borovets (which has twice hosted World Cup competitions in Alpine skiing) which will convert it into an all year round mountain resort!
And as for MJWARD OOD (This our limited company in Bulgaria) and its plans for the future, we are looking to invest when possible more time / money into property and land in and around the Sandanski / Bansko areas. Although my wife may have other ideas I personally would love the opportunity to invest in a vineyard and try our hands at wine production and exporting! On my last trip to Bulgaria I viewed a lovely vineyard (not the best access road), the snow capped mountains and neighbouring vineyards was quite a picture! Like a line from Jerry Maguire “You had me at hello” however the property law in Bulgaria states that all land inheritors need to agree to the sale for it to go ahead… And in this particular case the vineyard had about 5 land inheritors! Although this deal did not go ahead (which was probably a good thing considering we were still paying off our last Bulgarian purchase) I will be keeping my ear to the ground and listening out for any vineyards for sale in Bulgaria!
I hope you have enjoyed my ramble about Bulgaria, Bulgarian property, and land investment? If you have any questions then please feel free to send us an email. Our company works very closely with Bulgaria Property Agent Ltd here in the UK and have reliable legal contacts over in Bulgaria who can help. Alternatively please post your questions or comments below for others to see and I will do my best to reply asap.
This is a really good post. Happened to stumbled on your blog by accident when searching for investment related info. Bookmarked!