why bulgaria
Macroeconomic stability:
Political and economic stability, - Sustained GDP growth of 4.7-4.9 % per year, - NATO membership achieved in 2004, - EU membership set for 1 January 2007, - Very competitive labor cost compared to the rest of Europe, - Very competitive tax regime - 15% corporate profit tax and 0% in areas of high unemployment, - Well educated, highly trained English speaking workforce, - Strategic geographic location, - Full national treatment of foreign investment
Top tourist destination:
Bulgaria voted No. 4 tourist destination worldwide by The Washington Post, - 20% average annual growth of tourist arrivals for 2002-2005 43% year-on-year increase in British tourists for 2003, - Well developed and constantly improving summer resorts, - Excellent skiing opportunities with guaranteed winter snowfall, - Unbeatable prices guaranteeing best value for money holidays, - 1600 thermal mineral water springs, - Rich historical and cultural heritage, - Easy access from Europe
Booming real estate sector:
25% - 180% price growth in the last 12 months (excellent return on investment (ROI), - Still property prices are amongst the lowest in Europe - Dramatic increase in demand for land at Bulgarian big towns and resorts, - Strong drive for property purchase from Bulgarians living abroad, - Bulgaria on the agenda of top European real estate investment funds . Liberal foreign investment laws; . Improving bank mortgage system; . Limited currency risk (Bulgarian leva (BGN) is fixed to the EURO under a stable currency board); . Cost of living is the lowest in Europe; . Historical old towns; . Healthy and growing open market economy; . Stable democracy; . The most stable and predictable business and political environment in South-East Europe; . NATO membership since 29 March 2004; . The lowest operating cost in a European market economy; . Industrial goods traded duty free between Bulgaria and the EU, EFTA, CEFTA and Turkey - a market of about 510 million citizens; . Excellent climate, natural scenery, food and hospitality; . As a result of the achieved macroeconomic stability foreign direct investments have been steadily on the rise, growing by 56.9 % in 2003. The FDIs are expected to surpass USD 2 bln. in 2004, representing 7.5 % of real GDP; . The EU countries generated about 70% of that investment stock. Top investors in Bulgaria have been Germany, Greece, Italy, Belgium, Austria, USA, the UK, the Netherlands, Russia, etc; . VAT exemption of equipment imports for investment projects over 5 million euro; . Annual depreciation rate of 30% for machinery & equipment and 50% for software and hardware; . Smooth, speeded up administrative service; . Infrastructure subsidy for investment projects over 50 million euro; . 55 treaties for avoidance of double taxation; . 52 agreements on mutual protection and promotion of foreign investment;
Property in Bulgaria is one of the fastest growing assets, which is due to the the improved economic conditions, political and social stability. Bulgarian real estate prices are by far much lower than other destinations in Europe but the estimated admittance to EC membership of Bulgaria provides unprecedented growth potential that will certainly boost the prices of the Bulgarian real estates in the near future. Bulgarian market is still unexplored and undeveloped to a certain extent, which makes it very attractive and profitable. Bulgaria is rapidly becoming the most sought after area for investment in Europe. 1,248,138 foreigners visited Bulgaria in the period January- May 2004 . Bulgaria is close, being in Europe so naturally it is within 3 hours or less from the United Kingdom , Holland and Germany by plane. THE Wall Street Journal reported in June that the prices of real estate in Bulgaria jumped a world record and the highest rise in prices registered in any country. Even the most developed countries have seen drastic price increases in the last three or four years. Though surprising, the rises i Bulgaria were part of global trend. The newspaper said that low interest rates were the main driving force behind the boom. But there are several other factors, including the intensifying flow of capital, aggressive bank-lending and a frantic search by investors, large and small, to find better returns than those offered by stocks and bonds. Foreign capital is behind a serious part of the Bulgarian real estate boom, according to surveys in June. Bulgarian companies have invested more than five billion leva of their own funds in real estate during the last two-and-a-half years, according to a report by Creditex, a credit management agency. Most realtors agree that prices for land will rise the fastest when the country joins the European Union.
Property in Bulgaria - Why Now?
The simple answer is to make money. Managed diligently, property investment can offer exceptional returns. With the stock markets around the world in turmoil, pension funds seeing fund value falls of 30%+, and with the increased likelihood of pension shortfalls, an increasing number of people are turning to property investment. 2Bulgaria.com believe property continues to represent a safe investment - providing that the risks are minimized. We believe the Bulgarian property sector will continue to grow and become increasingly profitable: An increase in demand due to socio-economic influences such as: Increasing divorce rates and an increase in single person households A more transient work force First time buyers not being able to get on the "property ladder" due to increased property prices Increase in life expectancy Over the last 18 months, there has been outstanding capital growth in Bulgaria market with property growth doubling, on average, every 2.5 years. In 2005, the market is still seeing double-digit growth. Presently, there is a housing shortage in Bulgaria with demand for new homes and land More new households are being created annually, than there are homes to accommodate them.
During the past couple of years Bulgarian real estate market has become an appealing investment opportunity. The great natural resources - the famous Black Sea resorts, resorts for winter activities, year-round hiking and nature observation opportunities make Bulgaria a popular destination for people seeking active holidays. The general environment is peaceful, safe and friendly. Business prospects are unique as Bulgaria will join the European Union on 1 January, 2007. The trend for the real estate market is - rising prices which are expected to last till 2014, when EU accession is finalized. Bulgaria is the perfect destination for business travel, offering a rich variety of first class hotels, resorts and conference facilities, as well as convenient transport to major cities inside the country and around the world. Further advantages include beautiful sandy beaches, refreshing mountain centers, ancient historical places, a perfect climate, and lower prices compared to alternative destinations. Finally, traditional Bulgarian hospitality and opportunities for entertainment, recreation, and excursions guarantee your satisfaction in Bulgaria. We can help to ensure your comfortable stay in Bulgaria
|