About Bulgaria - Country Guide

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Country Guide: Bulgaria

Bulgaria offers tremendous real estate opportunities for both investment property and holiday homes, being located in South Eastern Europe and sharing borders with Serbia, Macedonia, Romania, Greece, and Turkey as well as its Black Sea coastline. Two mountain ranges offer great locations for skiing and there are the main ports of Varna and Burgas on the Black sea coast offering the usual resort seaside activities.

The Maritsa is Bulgaria's principal river, and the famous Danube also flows through the country. In short, Bulgaria is a country of contrasts which truly offers “something for everyone”.

In 2007 Bulgaria joined the EU which was its final step on the path to economic stability and opened the way to substantial growth after years of domination by the USSR and before them the Ottoman Empire, most notably in the real estate market which is always the most accessible economic sector.

This was quickly understood by the Bulgarians who ensured that a complete real estate market was available providing the full range of property for sale, off-plan property, investment property, holiday homes and property for rent.

Bulgaria’s current government has undertaken reforms, and in recognition of that, it was permitted to join the European Union last year (2007).

Bulgaria is now one of the leading emerging markets in the area and according to the World Bank, Bulgaria attracted the highest levels of foreign direct investment, as a share of GDP, among Eastern European countries in 2006, much of it related to the thriving real estate market in investment property, holiday homes and off-plan property.

In early 2007, in order to attract additional foreign investment, the Bulgarian Government has lowered corporate tax rates to 10%, which would make it the lowest rate in Europe.

When Bulgaria joined the EU in January 2007, this provided excellent news for those who had already invested in Bulgarian real estate, or are looking to invest in Bulgarian property, as the economy is running fast and hot to catch with other economies in the area and it is expected that real estate will increase greatly over the next few years as it has done in other EU member countries after joining the Union

Because of its late entry into the European Union and in spite of the outstanding growth witnessed during the past decade, Bulgaria continues to offer comparatively low property prices forholiday home buyers and investors in real estate.

The capital is Sofia to the western part of Bulgaria and the temperature there is around -2°C in January and about 21°C in August while city's rainfall is near the country average, which makes the overall climate very pleasant.

A country once considered a paradise for holidaymakers is now a paradise for real estate investors.