Property for sale in Bulgaria - Bulgarian property investment hotspots
Bulgarian property investment has been big news in the last few years and is likely to remain so while average annual price increases of 10% to 15% continue to be forecast. Until very recently, most property for sale in Bulgaria was located along the Black Sea coastline, and Sunny Beach apartments have long been a favourite Bulgarian property investment for UK buyers. However, in response to demand, new opportunites have now appeared inland, in the mountains and urban areas. Sunny Beach apartment developers now have some strong competition.
A Sunny Beach apartment, or similar property in Golden Sands, is still the most popular Bulgarian property investment
Sunny Beach apartments, and similar properties along the Black Sea coast, continue to offer good investment potential to those seeking strong rental yields or a holiday home in an affordable and desirable location. A wide selection of Bulgarian property investment opportunites can usually be found here, as development of Sunny Beach apartment complexes continues at a pace. However, recent planning restrictions has limited the amount of property for sale in Bulgaria´s second resort, Golden Sands, and driven up prices.
The latest hotspots for property for sale in Bulgaria´s Black Sea region are Varna and Burgas
There is now a wide range of property for sale in Bulgaria´s two historical coastal towns. Varna has a growing international community and has enjoyed price increases of up to 25% on both holiday homes and apartments in the last three years. In Burgas, demand for property exceeded supply last year and prices are expected to rise by as much as 40% in the next two years.
Away from the coast, the main hotspots on the Bulgarian property investment market are mountain resorts
Property for sale in Bulgaria´s mountains has been selling like hot cakes in the last three years and prices have risen by nearly 40%. Such feverish levels of Bulgarian property investment have been driven by the country´s growing appeal as a winter sports destination. Official Bulgarian figures suggest a 62% increase in British visitors to the three main ski resorts of Bansko, Borovets and Pamporova last winter.
Bansko has been likened to Spain four decades ago, with construction and infrastructure development booming after years of stagnation. An estimated 3,000 Brits have found their ideal Bulgarian property investment in this resort since 2003 and recent reports suggest some off-plan complexes are selling out within a month of reaching the market.
There is usually a good selection of property for sale in Bulgaria´s oldest, largest and most expensive winter sports centre: Borovets. The area suffers a shortage of rental accommodation between December and April so some developers now offer off-plan property for sale in this Bulgarian resort with 5-year guaranteed rental yields.
Expanding and popular, Pamporovo is the most southerly winter sports resort in Europe. Good year-round sunshine levels have helped Pampororo become a hotspot for Bulgarian property investment because it has great potential to develop a serious summer tourism trade.
The new kid on the Bulgarian investment property scene is Veliko Tarnovo
Deep in the heart of the country, Veliko Tarnovo has long been popular with domestic visitors but has only recently been discovered by Western tourists and buyers of Bulgarian investment property looking for something different to Sunny Beach apartments. Demand for rental accommodation, apartments and second homes has grown and prices have risen steeply. Like most villa property for sale in Bulgaria´s inland regions, much of what is available requires renovation but it is also possible to find fully restored country house at very reasonable prices.
