Property market in Bulgaria

Property in Bulgaria is the fastest growing asset in our country. Last year the property prices in Bulgaria have gone up with more than 25 % in general. Some real estates have gone up with 50 % for one year, especially the ones in Sofia , in the Black Sea beach resorts ( Sunny Beach ) and in the ski resorts (Borovets, Bansko). The improved economic conditions, political and social stability in Bulgaria over the last 3 years brought to a real boom of the prices of property in Bulgaria . Other important factor for the rising property market is the huge tourism potential in our country. There are great natural attractions - high mountains, beautiful and clean Black Sea coast, preserved rural areas, minimum urbanisation, thousands years of history, etc. Nowadays Bulgaria is considered as the fastest growing tourism market in Europe . This is something that foreign buyers of property in Bulgaria appreciate the most. Together with the constantly rising prices, buying property in Bulgaria is one of the best investments that one can make these days. Further Bulgaria was invited to become a NATO member targeted for 2004 and full EC membership is scheduled for 2007. Now is the right time to invest in property in Bulgaria . Bulgaria is a politically stable country, and the introduction of a currency board in 1997 stabilised the country's economy. Reaching year of 2007, Bulgarian laws are improving and changing in accordance with the laws in the countries of the European Union. Bulgaria has one of the most liberal foreign investment laws in the region. Foreign investment typically assumes one of the following forms: establishing a joint venture with existing companies, state-owned or private; acquiring a company through privatization; setting up a new (green field) venture; or making a portfolio investment. Foreign investors can purchase property in Bulgaria directly or through a local company. Only Bulgarian-resident individuals and entities can own land, while non-residents personally may acquire only buildings. Therefore if foreign citizens want to invest in property in Bulgaria , they must register a Bulgaria based company (something that we fully assist with). As soon as the company is registered any properties / property in Bulgaria may be purchased to the company name. The most common type of organization for foreign investors is a limited liability company. Other forms are companies limited by shares (joint stock companies), joint enterprises, business associations, general partnerships, limited partnerships, and sole proprietorships. The law does not limit the extent or amount of foreign participation in companies. Foreign individuals and companies can open unlimited number of accounts in any Bulgarian banks, in any hard currency or the local Bulgarian Levs. There is very serious talking that soon the main law in Bulgaria , the Constitution will be changed very soon, so that all foreigners who wish to acquire property in Bulgaria will be able to do so personally, so registering a local company will not be needed. However we strongly advise not to wait until the law is changed, as it is expected that this will give even a stronger push to the property prices and they will suddenly go up. We, Bulgarian Property Advisors Ltd. are real estate agents serving mostly foreign buyers of property in Bulgaria . We have strong knowledge of the Bulgarian property market, dated 4 years ago. We offer full range of services to investors interested in property in Bulgaria . Our website is offering big choice of properties of any type. It aims to provide ads of property in Bulgaria and useful information for buying or renting real estate in Bulgaria . Our wish is to present a comprehensive and easy to search database of thousands of ads of property in Bulgaria . PROPERTY IN ELHOVO The town of Elhovo is situated in the southeast part of Bulgaria. It is very well positioned between the most attractive coastal and mountain resorts in Bulgaria and extremely close to Turkey and its resorts. Elhovo is situated in the centre of the Elhovo Field (100-150 m above the sea level) and is surrounded by the slanting slopes of the Manastir and Dervent Elevations and Stranja Mountain. The state boundary with Turkey passes about 30 km to the south-east of the town. The Tounja River passes through the low-mountain range in the south part, separating the Dervent Elevations from the Sakar Mountain. The river forms a picturesque canyon between them. Its steep valleys and beautiful windings make the region immensely attractive. 21 970 people live in the Elhovo municipality, including 13 244 people in the town of Elhovo, who constitute 60.28% of the municipality's total population. PROPERTY IN VELIKO TARNOVO The town of Veliko Tarnovo is regally situated along the historical hills of Sveta Gora, Tsarevets and Trapezitsa, on the two banks of the Yantra River, cutting a peculiar gorge through Turnovo Hills. It is situated 240 km northeast of Sofia, 86 km east of Lovech, 46 km northeast of Gabrovo, 50 km east of Sevlievo, 43 km southeast of Pavlikeni, 42 km northeast of Tryavna, 106 km southwest of Ruse, 7 km southwest of Gorna Oryahovitsa and 100 km southwest of Targovishte. Veliko Turnovo is the town with the most glorious historical past in Bulgaria. The earliest traces were found on the Trapezitza Elevation from the first half of the 3 rd millennium B.C. Remnants on Tzarevets Elevation date back to the end of Bronze era (13th century B.C.) The oldest settlement was inhabited by Thracians and exited by the end of the Iron era. The following inhabitants were the Byzantines. In 8 century a big Slavonic – Bulgarian settlement was built there. At the end of the 10th century the elevations of Tzarevets, Trapezitsa, and Sveta Gora were densely populated and in the 12th century Veliko Turnovo was a fortified town and a significant economic centre. The origin of the name is related to the Slavonic word “tern” or “turn” (thorn) and during the years it developed into Ternov, Trunov, Tarnov, Tarnovgrad, Tarnovo, and Veliko Turnovo, called Veliko (Great) in relation to its size, beauty and grandeur. In 1187 Uprising of Assen and Petar (brothers and noble men), the Byzantine rule was thrown off, and they proclaimed Veliko Turnovo capital of the restored Bulgarian Kingdom. During the 13 th and 14 th centuries the town became a significant political, economic, trade and cultural centre in Europe. This material and spiritual upsurge was discontinued on 17 th of July 1393, when the whole of Bulgaria was conquered by the Turks. During the Revival period the town experienced a new economic, cultural and political upsurge. Crafts developed, trade flourished, beautiful houses, public buildings and churches were built. Veliko Turnovo became a centre of the struggles for ecclesiastical and national independence. On the 7 th of July 1877 Veliko Turnovo was free again. On the 16 th of April 1879 the Turnovo Constitution, one of the most democratic constitutions in Europe at that time, is passed there. On 17.04.1879 the first Great National Assembly of liberated Bulgaria convened in Veliko Turnovo. It was namely there that on 06.09.1885 the acknowledge of the union of the Principality Bulgaria with Eastern Rumelia was made. Although Sofia became the capital of united Bulgaria, Veliko Turnovo continued to be a bastion of the Bulgarian national spirit, and self-awareness. PROPERTY IN BURGAS The city of Bourgas (population: 196 316) is the second largest city at the Black Sea cost and is a regional administrative centre. It is situated in the farthest western part of Bourgas Bay and is 390 km east of Sofia . It ranks fourth in size among the biggest cities in the country after Sofia , Plovdiv and Varna . Due to the low level of the cost three lagoon-lakes were formed: Atanassovo, Bourgas and Mandren. The city is situated between the sea and the first two lakes, however it has grown so much that nowadays it almost touches the Mandra Lake . The climate is of the moderate continental type with a definite influence of the sea. Summer is pleasantly fresh because of the constant movements of the air. The average day temperature of the air during the summer is 26.4° C, and the temperature of the sea water – 24.8° C. There are between 24 and 27 sunny days per month during the summer period with an average of 10-11 sunny hours in a 24-hour period. The winter is mild with no snow. The average day temperature of the air during the winter is 4.6° C, and that of the sea water – 7.4° C. Because of the influence of the sea the autumn is long and warmer than it is in the country, and the spring is comparatively cold and usually comes one month later than normal. PROPERTY IN SOFIA Sofia has a history that goes back thousands of years. Through the centuries, many peoples have inhabited it and added to its rich and diverse history. Numerous Neolithic villages have been discovered in the area, while a chalocolithic settlement has been recently discovered in the very center of modern Sofia. The St. Sofia Church, a three-nave basilica built in the late 5th century AD The Thracian Serdi tribe settled here in the 7th century BC and gave the first recorded name of Sofia -- Serdica. The Byzantines called it Triaditsa and the Slavs - Sredets. The modern city of Sofia was named in the 14th century after the basilica St. Sofia. In Greek, word sofia means wisdom. In the 3rd century AD, the Romans built strong walls around Serdica, their capital of Inner Dacia and an important stopping point on the Roman road from Naisus to Constantinople. Today there are many archaeological sites in Sofia, that display the city's diverse history - the castle gates and towers of Serdica, public buildings and streets thousands of years old. A large part of the ancient city of Sofia is underneath important modern buildings. The ancient city council (bulefteris) is hidden under the "Sheraton" hotel, while a number of basilicas are below the National Historical Museum.