Bulgaria Investment: Economy
Regarding Bulgaria property investment, Bulgaria was just 10 years ago an unknown tourist and property investment destination, but a complete turnabout in its economic strategy since 1996 has led the country to spectacular results, particularly regarding Bulgaria land investment. With its winning combination of a fast-growing economy, ever-increasing tourist figures and low property prices, Bulgaria property currently offers one of the best investments in Europe with huge projected returns.
The Bulgaria economy is very healthy, performing excellently in Q1 of 2008 and achieving figures of 6.3% in Q2. Bulgaria now boasts the 3rd highest growth rate in the EU. Bulgaria foreign direct investment (FDI) reached record levels in 2006 and 2007, with approximately 60% of all FDI in 2007 going into the Bulgaria real estate sector. All these positive economic factors add to the potential for Bulgaria property investment.
Bulgaria Investment: Tourist Industry
As well as a booming economy, Bulgaria also boasts a flourishing tourist industry with income from tourism forming an essential part of the country's economy. The Bulgarian government is firmly committed to further investment in the diverse tourist sector. Bulgaria tourism offers perfect skiing conditions during the winter and relaxing beach resorts along the Black Sea Coast during the summer. Bulgaria's capital city, Sofia, also provides great city breaks and according to the World Travel and Tourism Council (WTTC) Bulgaria will attract over 16 million visitors a year by 2017. In addition, Bulgaria offers an increasing choice of low-cost flights, facilitating tourist access to the country and making property investment in Bulgaria's hot spots a compelling choice.
Bulgaria Investment: Property Market
The buoyant Bulgaria economy and tourism sectors are joined by a thriving Bulgaria property market. Bulgaria property prices continue to show impressive annual gains - the Knight Frank Global House Price Index reported that Bulgaria real estate has been the best performing in the index since Q2 2007. In Q2 2008, its annual growth was 32.2% with the Sofia real estate market boasting one of the most dynamic property markets in the country. Sofia rental yields are around 9% annually, depending on the size of the property. For more information, click here for the Bulgaria Land and Property Investment Guide.
