Bulgaria has been experiencing a large uplift in tourist numbers in recent years and the World Trade Organisation forecasts that by 2010 the number of annual visitors to the country will exceed 20 million. Ski resorts in Bulgaria, such as Bansko, Borovets and Pamporovo, have become some of Europe's fastest growing resorts for winter holiday sports.

Bansko, for instance, has seen the creation of a new motorway linking it to the airport, a golf course built alongside the town and a new ski lift system within the resort. All this regeneration has been attracting more and more tourists and to cater to this demand there has been an explosion of new properties in and around the resort. Existing properties in such areas have seen significant price increases.

Tourist visit Bansko because of the 65km of skiing on offer, as well as it's picturesque setting and medieval village. Attractions such as these have ensured it's popularity among tourists over the past couple of years in particular.

The resulting growth in the buy-to-let sector has been boosting the property market of ski resorts like Bansko and encouraging more newly built properties in such areas. Investors have been quick to notice this trend and are looking to purchase while there are still bargains to be had.

Vitosha Boulevard, the main high street in Sofia, the capital, is as bling as many a rival capital city's main street, with several international hotels including a Shereton and a Hilton on it's doorstep. New-build apartments for sale near to the Boulevard can be bought from 1,000 euros per sqare metre, approximately £25,000 for a reasonale 40m2 apartment that will suffice for a weekend getaway, perhas to enjoy the opera in the city or skiing in he nearby mountains. A new Ian Woosnam golf course offers year-round rental otential for investors, many of whom have bought on the Black Sea coast in beachfront resorts such as Sunny Beach and St Vlas. Sand, sea, sunshine, snow - Bulgaria has got the lot. 

The buying process:-

A present, foreigners are not permitted to own land in Bulgaria. Therefore, if you want to buy, it is necessary to form a limited company that can own land, and register yourself as a company director; this process takes about four weeks and costs approximately £1,000.

If, however, you are buying an apartment, it is not usually necessary to register as a company, as the apartment block could be legally distinct from the land on which it is sited. A solicitor will draw up a preliminary contract for sale, at which stage the buyer must lodge a ten per cent deposit. The lawyer will then check the property's title; if everything is in order, the purchase price balance, land tax and notary fees (around 5% of the purchase price) is then due. Once paid, the property is legally yours.   

Language Spoken: Bulgarian / English / Others

Flight Operators: Bulgaria Air / Alitalia / Austrian Airlines / Lufthansa

For a wide selection of Apartments and Villas in various locations of Bulgaria, please  browse through our current portfolio of Bulgarian properties or contact our office on + 34 649 389 888  or email: admin@overseaspropertyunlimited.com