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Development Summary
Local Area
We at BuyProperty4Less realise that many of you may not be that familiar with Bulgaria and wonder, “Why would anybody want to invest there?”
We therefore decided to put this question to local agents and ourselves in the real estate market. The following is a “short list” of why an investor should invest in Bulgaria.
• Rapidly becoming the most sought after area for investment in Europe. Property in Bulgaria is currently some of the cheapest in Europe and last year rose by over 30% • 1,248,138 foreigners visited Bulgaria in the period January- May 2004 • The Black Sea coast boasts 220km of sandy beaches • The Black Sea coast has over 1700 hours of sunshine from May to October • Tipped by Thomson’s 2004 Holiday Forecast as the new top destination • The diverse geography and climate allows both ski and beach resorts. • The general cost of living is one of the cheapest in Europe • Bulgaria is close, being in Europe so naturally it is within 3 hours or less from the United Kingdom, Holland and Germany by plane. • Bulgaria joined NATO in 2004 and is set to Join the EU in 2007 • Bulgaria is stable. In 1999 the Bulgarian currency was tied to the German mark and subsequently the Euro, stabilising the currency and allowing for economic growth. St. Vlas The village of St. Vlas, located next to the holiday resort of Sunny Beach- Nessebar, is one of the fast growing communities in Bulgaria. Sunny Beach is a resort area, comprised of numerous hotels, nightclubs, shops and restaurants. The beach at the resort is 8 km (5 miles) long and boasts fine sand and a developed area with sun beds and umbrellas. The ancient “island village” of Nessebar is located 10km across the bay of Sunny Beach. Now connected to the mainland by a man made causeway, the town’s origins began around 72 AD as a Roman garrison. Nessebar has become one of the most popular tourist destinations in Bulgaria over the past 10 years. St. Vlas has rapidly become the “villa centre” of the Sunny Beach-Nessebar region. A number of villa complexes are already built in the area, with demand far exceeding supply. It is estimated that approximately 70% of all units which are currently being built are sold “off plan” before construction has even begun. St. Vlas is by far the premier spot to build holiday apartments on the Bulgarian Black Sea Coast at this time. If Bulgaria is to join the European Union as expected by the end of 2007, considerable appreciation is expected throughout the Bulgarian real estate market, with holiday apartments expected to lead the way and appreciate the most in value. Panorama Fort Beach is a 40 minutes drive from Burgas airport.
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