Bulgaria Market Drivers

Location:

• Thriving holiday resorts dot the coastline
• Within 30 mins from Varna, which is the most popular holiday destination for Bulgarians
• Within 40 mins from Varna International airport
• Situated in the heart of the Bulgarian winelands
• Strong rental incomes (£450 per week)
• Views over the ocean and the winelands.
• Economically, Varna is among the best-performing and fastest-growing Bulgarian cities; unemployment, at 2.34%, is 4 times lower, per capita income is higher than the national average (2007). Many Bulgarians regard Varna as a boom town

Logistics:

• Low cost flights with Easy jet to Sofia start in November
• British Airways, BMI and Bulgaria airlines fly direct to Varna
• Super highway has been approved to link Western Europe and Eastern Europe starting in Bulgaria. This will improve the trade routes linking Asia and Europe

Infrastructure:

• 2 Championship standard golf courses under construction in Balchik
• F1 race track planned for Kavarna
• Scottish company has recently bought out a luxury mall complex under construction in Varna
• Roads and rail links are currently being improved
• Quality of builders is now under scrutiny by the government

Economy:

• Strong growth in the economic sector fuelled by Foreign Direct Investment, construction, tourism and services industry.
• Major European companies moving Eastern European headquarters to Bulgaria (Tesco)
• Currency is aligned with the Euro
• Adopting the Euro in 2009
• Bulgaria controls land trade routes linking Asia and Europe (oil pipelines)
• FDI on the increase (53% increase from 2002-2003)
• Bulgaria’s annual economic growth is a healthy 6.5%
• The country boasts the second highest standard of living in Southeastern Europe in terms of GDP per capita.



Tourism:

• Low cost flights available to sofia with Easyjet
• Major airlines fly to 3 Bulgarian airports
• Increased tourism figures during summer on the black sea coast, both north and south
• Bulgaria now attracts close to 5 million visitors yearly. Tourism in Bulgaria makes a major contribution towards Bulgaria's annual economic growth of 6%-6.5%.
• Real estate is booming, with some of the highest prices in the nation, often surpassing Sofia.
• Good winter tourism figures in Sofia and Bansko (skiing)
• Lowest cost of living in Europe
• All major tour operators now operate in Bulgaria

Political Stability:

• Previously under Soviet and Ottaman rule but now a member of the EU with a democratically elected government
• Bulgaria has been a member of Nato since 2004 and the UN since 1955.

Factors:

• Good summer season with high temps above 30 degrees centigrade
• Plenty of local attractions
• Long sandy beaches
• Local and international cuisine
• Unspoilt countryside
• Low cost of living
• No CGT on 1st property
• Strong growth in the property sector

This is really interesting and we agree and disagree from an indepdent perspective (please don't take the caps lock as shouting, I just can't work how to do anything else to work out the difference between q and a)

Location:

• Thriving holiday resorts dot the coastline
YES THEY DO
• Within 30 mins from Varna, which is the most popular holiday destination for Bulgarians
NOT THE MOST POPULAR DESTINATION FOR BULGARIANS, BUT ANYWHERE ALONG THE BLACK SEA COAST WILL DO
• Within 40 mins from Varna International airport
NO SO FOR NEXT YEAR, BOURGAS WILL HAVE MORE CHARTER FLIGHTS WITH HOLIDAY MAKERS LOOKING FOR "CHEAP HOLS" IN 2008
• Situated in the heart of the Bulgarian winelands
??????????
• Strong rental incomes (£450 per week)
DEPENDS UPON THE PROPERTY
• Views over the ocean and the winelands.
????
• Economically, Varna is among the best-performing and fastest-growing Bulgarian cities; unemployment, at 2.34%, is 4 times lower, per capita income is higher than the national average (2007). Many Bulgarians regard Varna as a boom town
IT IS CERTAINLY THE MOST "WESTERN EUROPEAN STYLE" CITY I'VE EVER EXPERIENCED IN BG

Logistics:

• Low cost flights with Easy jet to Sofia start in November
LOW COST CHARTERS ARE PULLING OUT; HOWEVER, THIS IS THE CHANCE FOR VARNA TO ESTABLISH ITSELF AS AN UPMARKET DESTINATION
• British Airways, BMI and Bulgaria airlines fly direct to Varna
• Super highway has been approved to link Western Europe and Eastern Europe starting in Bulgaria. This will improve the trade routes linking Asia and Europe

Infrastructure:

• 2 Championship standard golf courses under construction in Balchik
MORE
• F1 race track planned for Kavarna
TALK ABOUT THIS FOR YEARS - I AM A BIG F1 FAN, AND NOBODY KNOWS ABOUT THIS RUMOUR
• Scottish company has recently bought out a luxury mall complex under construction in Varna
• Roads and rail links are currently being improved
• Quality of builders is now under scrutiny by the government
IT IS MORE IMPORTANTLY UNDER SCRUTINY BY THE EU!

Economy:

• Strong growth in the economic sector fuelled by Foreign Direct Investment, construction, tourism and services industry.
• Major European companies moving Eastern European headquarters to Bulgaria (Tesco)
• Currency is aligned with the Euro
• Adopting the Euro in 2009
MAYBE 2010 OR 2011
• Bulgaria controls land trade routes linking Asia and Europe (oil pipelines)
• FDI on the increase (53% increase from 2002-2003)
• Bulgaria’s annual economic growth is a healthy 6.5%
• The country boasts the second highest standard of living in Southeastern Europe in terms of GDP per capita.



Tourism:

• Low cost flights available to sofia with Easyjet
• Major airlines fly to 3 Bulgarian airports
• Increased tourism figures during summer on the black sea coast, both north and south
• Bulgaria now attracts close to 5 million visitors yearly. Tourism in Bulgaria makes a major contribution towards Bulgaria's annual economic growth of 6%-6.5%.
• Real estate is booming, with some of the highest prices in the nation, often surpassing Sofia.
• Good winter tourism figures in Sofia and Bansko (skiing)
• Lowest cost of living in Europe
NOT SINCE THE TAXIS PUT UP THEIR FARES 25% TODAY - LOL
• All major tour operators now operate in Bulgaria
SOME ARE PULLING OUT

Political Stability:

• Previously under Soviet and Ottaman rule but now a member of the EU with a democratically elected government
• Bulgaria has been a member of Nato since 2004 and the UN since 1955.

Factors:

• Good summer season with high temps above 30 degrees centigrade
COLD WINTERS TOO - BUT GOOD FOR THE SKI ENTHUSIASTS
• Plenty of local attractions
BUT IN POOR STATE, NOT SO MUCH AN ATTRACTION AS MORE A "NATURAL" THING
• Long sandy beaches
• Local and international cuisine
NOT REALLY, LOCAL CUISINE IS GOOD BUT INTERNATIONAL CUISINE IS REALLY POOR
• Unspoilt countryside
DROP DEAD GORGEOUS
• Low cost of living
• No CGT on 1st property
DEPENDS UPON HOW YOU BOUGHT IT; AND ALWAYS REMEMBER IN THE UK THERE IS CGT TO PAY ON YOUR SECOND PROPERTY NOT MATTER THE CGT SITUATION IN THE COUNTRY OF THE PROPERTY
• Strong growth in the property sector


OVERALL, I THINK YOU ARE PUTTING BULGARIA IN A VERY POSITIVE LIGHT, WHICH I AGREE WITH, BUT FOR LONG TERM GAIN.

It is oversimplified to state these kind of unsupported quotes.

We believe Bulgaria to be a great placed to buy - you will gain on capital appreciation and rentals, but BE REALISTIC

Hey ho, that's my two stotinki worth........

__________________
Jain Goodall, Director, Quest Bulgaria Magazine

Independent advice and information for owning and buying property in Bulgaria
http://www.questbulgaria.com

Hi Jane thanks for the feedback on those market drivers. Overall still quite accurate this is what I would look at to make an informed decision on weather it is a good area to invest or not.
I look at these drivers no matter what country i am looking at.
Thanks for the update on some of those points

Even after all the negatives that have been in the press recently, I still do believe that Bulgaria is a sound investment. People need to do their research and due dilligence, go on an inspection trip and appoint a solicitor. Even though there are many areas that are over supplied there are also plenty of resorts around all the major tourist destinations that offer the ability to relax but at the same time be close enough to the action. Developers and agents that are still doing well are those that are going that extra mile for their clients rather than push them into a quick sale.

I am also very happily suprised that Bulgaria is not going to get hit by the credit cruch and the subprime market crises in both USA & UK. I guess the main reason is for the diversification of investors in Bulgaria from Western Europe and Russia.

Does anyone remember various reports in the english press a few months ago that Russians in London are pushing up prices? Guess the same is going to happen in Bulgaria too

If I can be of any further help re agents & bulgaria etc let me know

Jain

Your responses to the investment drivers were very useful. I was particularly interested in the fact that some low-cost airlines are pulling out of flights to Sofia (before they've even begun, I guess). As potential investors in Borovets, this is a little worrying. Do you have any information on why Easyjet are not going forward with flights to Sofia. From all accounts Borovets seems to be the subject of substantial investment and development.

Also your comments about tour operators pulling out.

Thanks
Lynne and John

Easy jet is still going ahead with their flights, I even have a friend of mine that booked the other day for a Sofia flight...go to their website and check on the flights

From the comments above, i guess it refers to flights to Varna Airport.. that might prove too expensive to run as low-coast as it is not as well established destination as Greece for example...

Hope that helps.

I managed to get my last flight for £110 return which i guess is really cheap!

Poor Fabian, he is sorry that he asked the question. Bulgaria has a history for over 1300 yrs, so for the person mentioning Tasania's holes I think that he is very angry little man. Bulgaria is very old country with great respect from people who knows a bit more about history of Europe, with it's own language. Christian country with no strange laws, double taxation agreemants and protected investments. So please stop talking about the Country and speak only if you have anything to say to the person asked a simple question.

Fabian yes if you have a bit of money do invest in Bulgaria, you can check statistics about the turism in Bulgaria on bulgariatravel.org for over 4 000 000 turists visited Bulgaria this year and you can make up your mind, but do not overstretch. Spend as much as you can afford and don't be gready.

Hello KICita, yes good price. Also I heard from a reader yesterday who had booked flights with Bulgaria Air from north of England to Sofia - 150 pounds return. Actually, I've noticed recently that often the regular airlines work out cheaper than the low cost airlines ! Plus, of course, their flights are usually direct.

Germanwings have also announced cheap flights from London to Sofia (via Cologne), 60 euros one way including airport taxes and charges, starting this winter season.

Wizz Air are going to do Sofia - Varna internal flights starting July next year - with a 9.99 euro one way ticket.



Cheers,

__________________
Jain Goodall, Director, Quest Bulgaria Magazine

Independent advice and information for owning and buying property in Bulgaria
http://www.questbulgaria.com