Moving to Bulgaria - expats emigrating for lifestyle change

Rising Prices Trigger New Routes to Buyer Success

2012-09-16T12:05:00.000+03:00

It's now official! The movement in house prices in Bulgaria has turned from negative to positive ... and this has triggered a flood of new opportunities for property buyers.

While the first three months of 2012 saw a decrease of 0.3%, Q2 prices were on the up by a factor of 0.2%. And, significantly, the National Statistical Institute (NSI), reports this increase as the first quarterly growth since the end of 2008, when Q4, 2008 started a spate of 14 successive drops in house prices.

At the same time, with a massive 12.48% increase in recorded web search activity, Bulgaria has regained its top 20 spot in the Rightmove Overseas Search Report for July 2012 and has also climbed back up to position 39 in the latest edition of Knight Frank's Global House Price Index.

More directly perhaps, leading agents Bulgarian Properties and Property Partners BG have both reported a Q2 increase of around 3% in the average prices of houses and apartments in Sofia.

So, what does this mean for buyers? Well - it's pretty clear today that, although prices now appear to be moving in upwards direction, Bulgaria still offers a huge array of bargain properties across all price ranges. If you want a low-cost holiday home on the beach or in the mountains, you can snap up a simple studio at around 15000 euro or a 2-bedroom apartment from as little as 30000 euro. A renovated family house in a nice country area but within easy reach of the sea? No problem … yours for around 35000 euro. And if you're looking for a more out-of-the-way village property, ripe for refurbishment … you'll have a fair amount of change from your 8000 to 10000 euro.

But price is only part of the picture. Sales have been pretty much in the doldrums for months, with both real estate agents and private sellers taking time out to develop newer and more attractive purchase options to tempt buyers back as soon as the market begins to recover

And now it has. So buyers can look forward to a flood of value added incentives to make the purchase of a property in Bulgaria even more attractive.

Over the past few months, Property Partners BG has uncovered details of a number of 'Buy One Property - Get Another Free' offers which information portal MovetoBG.com has described as ".. an interesting and innovative marketing strategy with the potential to create a new niche sector in the market."

And hot off the press today comes news of yet another added value offer. In this case, the deal was for the purchase of a 'Renovated & Furnished Guesthouse plus Property Portfolio', which, in a nutshell, involved buying the Guesthouse for what already seemed like a highly attractive price - and you would also become the owner of three additional properties at no extra cost. Well, this one has gone ... but there is another similar package available with details on the MovetoBG.com website

Asked to comment on these new offers, David Livingstone, CEO of MovetoBG.com, said "This seems to be setting in as a definite trend which may well be a reflection of the growing levels of confidence that both buyers and sellers are now demonstrating about property in Bulgaria."

"It's all about added value .." he continued, ".. and it doesn't get much more valuable than adding additional properties for free - which is why we expect to see much more of this type of strategy over the coming months."

Read more on our websites ...
MovetoBG.com - and Twitter @MovetoBG
Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook
MakeYourMoneyGoFurther - and Twitter @MoneyGoFurther - or on Facebook

Bulgaria's Sofia Property Market Back on Track

2012-08-13T09:36:00.000+03:00

Bulgarian capital Sofia's real estate market seems to have recovered from the crisis, as it has grown four times more quickly than in its worst period, according to an analysis from Bulgarian Real Estate company, Address.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

Prices are stable in Sofia, according to the company, with properties valued under Euro 50000 the most sought after among buyers. But even though 45% of all buyers are looking for properties below Euro 50000, deals worth more than Euro 100000 are not so rare as they used to be.

Address Real Estate says that two-bedroom apartments are the most sought after type of property in the Bulgarian capital and buyers are now more inclined to complete deals more quickly within 1 to 3 months on average.

Most property buyers in Sofia are employed in the economic sectors that have remained relatively unaffected by the crisis, including the food, medical and education industries as well as in state administration.

Read more on our websites ...
MovetoBG.com - and Twitter @MovetoBG
Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook

FeedWind

Demand for Land Plots Leading to Rising Prices

2012-07-13T12:21:00.000+03:00

More and more owners of both regulated and agricultural land are putting their plots up for sale, according to real estate agents. Several possible reasons are cited but the main focus appears to be that owners are not building on or cultivating their land and they have loans to repay.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

However, since the beginning of the financial downturn, it is land plots that has seen the biggest fall in price – by up to 40-50%. This now puts the price of land in Bulgaria into the same category as properties, namely: the cheapest in Europe. So, conversely, the demand for land is rising and the supply is beginning to dry up. The critical point is that the price for land in Bulgaria is forecast to increase considerably, which means that future investment returns are expected to be very high.

According to current data, prices per 1000 sq metres based on actual concluded deals, range from 100 to 180 euros in the north and western regions, rising to around 410 Euro in the south-west, where there is a limited supply.

For building land, the price of a plot is based primarily on location and access to services, while the most important criteria for agricultural land are the size of the plot and its quality rating. This spreads across ten categories based on the fertility of the soils, the climatic conditions, the relief, suitability for producing different kinds of crops and any imposed limitations on the land’s use. The higher the grading, the better, more productive - and more expensive - the land.

A number of the larger real estate agents still have substantial land portfolios available, with plots ranging in price from 6000 to 350000 euro - but, with supply beginning to dwindle, today's advice is to heed the words of the wise old sage who said .. "buy land when you can - they don't make it any more"

Visit our Bulgarian Book Store

Read more on our websites ...
MovetoBG.com - and Twitter @MovetoBG
Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook

FeedWind

Poll Rates Bulgarian Tourist Cities in World's Top 100

2012-06-18T10:13:00.000+03:00

With 1.54 million visitors, the southern Bulgarian Black Sea city of Burgas is the country's highest-ranked tourist city, according to Euromonitor International's latest Top City Destinations Ranking.

And further towards the northern end of the coast, the city of Varna - the Black Sea Capital City - is almost on a par with 1.5 million visitors

Both cities have been included in the rankings for the World's 100 leading and most dynamic cities in terms of international tourist arrivals in 2010 devised by Euromonitor International.

Related articles:
Sofia Airport Launches First Tourist Information Center
Presidential Candidate Boosts Tourism with new Strategy
Tourist numbers up for start of 2011
Bulgaria's Summer Bookings up by 30 percent

Top Property Offers Now Available

2012-03-26T08:10:00.002+03:00

As part of the MovetoBG.com family, we are pleased to congratulate our sister company, Property Partners BG, on an extremely successful first year. The actual anniversary date is 12th April .. but we're jumping the gun a little with the announcement that, from now on, we will be listing a selection of top property offers from Property Partners BG here for our readers. So let's get the ball rolling with ...

Property and Business Opportunity in Kotel ... just outside the town of Kotel and only a few kilometres from the architectural heritage village of Jeravna, this is a 3-storey house of 190 sq. metres offering 7 bedrooms, a kitchen and bathrooms. Located within walking distance to the Karandila national park, with parking space for three cars, this property requires plastering to the second floor and some interior refurbishment for an ideal conversion to a lodge for the many cavers, walkers, back-packers and climbers who visit the area each year. Price ... Euro 10,500

There will be plenty more top property offers to follow .. in the meantime, check our partner site links below for more details ...

Bulgaria Scores 3rd Spot in Global Internet Download Speed

2012-03-09T10:05:00.000+02:00

Bulgaria has been placed third among the world's top Internet download speeds with its 1611 KBps average, according to a study released by Pando Networks on Tuesday.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

Based on 27 million downloads by 20 million computers in 224 countries from January through June 2011, the study showed South Korea leading the list with a blazingly fast average speed of 2202KBps, followed by the eastern European nations of Romania (1909KBps) and Bulgaria (1611KBps). In fact, eastern European nations dominated the top of the list with Lithuania in fourth place at 1462KBps, Latvia in fifth at 1377KBps and Ukraine in eighth at 1190KBps. The completion rate for measured downloads is closely matched to average speed, with South Korea again taking top prize at a 94% completion rate and most of the other speedy countries not far behind.

The other end of the list is fairly unsurprising; developing nations in Africa and Asia trail far behind the speeds of those with more mature economies. The Congo has the absolute slowest average speed at 13KBps, followed closely by the Central African Republic at 14KBps and Comoros at 23KBps. Other notable countries studied include Germany at 647KBps, Australia at 348KBps, and China at 245KBps.

Average download speeds also vary based by ISP, and choosing the correct one could be the difference between speedy downloads and frustrating wait times. In the United States, Verizon Internet Services provides the fastest service, averaging 1056KBps due to their widespread FIOS network. In Great Britain, Virgin Media is the fastest choice with average speeds of 612KBps while Dacom Corp. takes the top spot in speedy South Korea with an average of 5151KBps.

"The disparities we found were striking. While, in general, developed economies outpaced the developing world in average download speeds, big names such as the US, UK, France, China and Canada were not even close to being the fastest. Instead, we saw high speeds in markets such as Eastern Europe where focus on infrastructure development and favourable geography promote a higher level of connectivity." said Robert Levitan, CEO of Pando Networks.

Read more on our websites ...
MovetoBG.com - and Twitter @MovetoBG
Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook

FeedWind

Bargain Holiday Properties now Available in Bulgaria

2012-01-27T18:07:00.000+02:00

The asking prices of holiday homes in the large resorts in Bulgaria are now at their lowest level for four years. Compared with data from Q3 2008, prices of apartments in Sunny Beach have decreased by around 45%. Through 2010 and into the summer of 2011 the average asking price was Euro 750 per sq. metre, with an average apartment priced at Euro 51400. Today, though, deals are being concluded at Euro 515 per sq. metre and an average apartment price or Euro 32400.

It is currently Russian clients that are most interested in beach properties and they are picking up extremely good bargain offers of finished, furnished and ready to move in apartments at prices up to around Euro 40000. The Russians have been the main buyers of holiday apartments in the last couple of years and this trend is set to continue through 2012. However, foreign buyers from other countries, mainly the UK, the Netherlands and Romania are now returning in growing numbers to the Bulgarian property market.

This overall pattern is similar for ski resort holiday homes, where prices of properties have fallen by about 25% in the last year.

As a comparison with the beach resorts, data from Property Partners BG shows that the highest prices of properties in Bansko, the largest ski resort in Bulgaria, were registered in 2008 and, since then, overall asking prices have fallen by more than 50%. The average asking price in Bansko, today is about Euro 680 to Euro 710 per sq. metre. However, deals are currently being concluded at Euro 500 per sq. metre.

Summarising this data, David Livingstone, CEO of MovetoBg.com, points out that there is nowhere else in Europe where beach and ski holiday apartments can be purchased at such attractive prices. "This pricing model has resulted from Bulgaria's position as the EU country least affected by the global financial crisis .. and it offers a unique opportunity to the wise investor looking for today's best value property purchases."

Related articles:
Time to Buy in Bulgaria's Recovering Property Market
Brits Searching for Bargains in Bulgaria's Property Market
Experts Agree that Property Market has Bottomed Out
Bulgarian Property Prices Reach Their Baseline

Bargain Properties Being Snapped up in All Areas of Bulgaria

2012-01-18T11:02:00.001+02:00

The average price of a home in the Yambol and Elhovo region - about 100 Km inland from the coast - was around €10000 in Q3 and Q4 2011. There were also property purchases concluded with offers as low as €5000.

With a little more to spend on your Bulgarian property, inland areas near the coastal resort cities of Bourgas and Varna .. or near the cities of Plovdiv, Sliven, Stara Zagora and Veliko Tarnovo are popular. In these areas, prices ranged from €15000 to €45000.

And apartments in the ski resorts – which can be purchased fully furnished in operating developments – were selling in Q4 for €33000 to €35000.

Sunny Beach was the most popular coastal location for property buyers with most deals in the €17000 to €25000 range and few sales above €30,000.

For details of bargain properties for sale all over Bulgaria, visit the Property Partners BG website .. and to find out about the full step-by-step process for buying a property in Bulgaria, check the Buyers Guide section at MovetoBg.com

Related articles:
Look Inland for Today's Bulgarian Treasures
Bulgarian Property Prices Reach Their Baseline
Brits Searching for Bargains in Bulgaria's Property Market
Time to Buy in Bulgaria's Recovering Property Market
Bulgaria Gateway Property Market Analysis - Q1 2011

Bulgarian Luxury Property Now a Preferred Investment Tool

2012-01-15T12:33:00.001+02:00

The impact in of the global financial downturn has generated a positive effect in the Bulgarian property market. The mass withdrawal from monetary investments and share dealings, together with rising inflation rates are turning the luxury property segment in Bulgaria into a preferred investment strategy.

According to David Livingstone, CEO of MovetoBG.com, more and more Bulgarians between the age of 30 and 45, with influence in the community and the business sector, are the main buyers of luxurious real estate.

"Across the board, including the luxury sector .." he said ".. property prices are at their lowest level for more than three years and this is no longer the key factor in a buyer's purchase decision - in fact, the most important issue for today's buyers is the location of the property"

In Sofia, the preferred purchases are houses and apartments in the Doctors' Garden area and in the quarters of Boyana and Dragalevtsi. Along with the location, buyers also consider: the size and floor-space, the design and quality of building and the interior finish, the maintenance of the property, the neighbours, the environment and the infrastructure in the area.

At present there is a wide choice of luxury properties and clients can benefit from the market situation by negotiating a better price - or by raising their purchase plans to a larger property or a house instead of an apartment.

The main buyers of luxury properties are still Bulgarians living and working in the cities. However, the lower prices and the wide choice of elite real estate is also widening the options for potential overseas buyers.

Number of Bulgarian Properties Increases by 5.4%

2012-01-13T11:07:00.042+02:00

The number of Bulgarian properties has risen over the past decade, according to the 2011 population and housing census.

The figures, published at the beginning of the last quarter by the Bulgarian National Statistical Institute, found that 5.4 per cent more homes exist now than in 2001. There are now 3.88 million houses in Bulgaria, compared with the 3.69 million mapped by the census 10 years ago.

The biggest rise in the number of homes has been seen in the regions of Bourgas and Varna because of the level of construction in the cities themselves, as well as the mass construction of holiday homes in the local resorts of Sunny Beach and Golden Sands.

The data also shows that 97.5 percent of Bulgarians own their homes, a significantly higher percentage than other European countries, where the ownership rate varies between 50 and 80 percent.

Perhaps the most interesting statistic, though, is that in 2011, 36723 foreigners were living permanently in Bulgaria, making up 0.5 percent of the country's population. The largest groups of foreign residents are: Russian (11991) and Ukrainian (3,064) citizens. However, European Union citizens account for 23 percent of all foreign residents – the largest groups being from the UK (2605) and Greece (1253).

The report forecasts that demand for houses in the big cities will remain stable over the next few years due to internal migration. Alongside this domestic demand, though, there remains a consistent interest from foreign investors in Bulgarian real estate, which will have the most impact on the purchase of holiday homes and rural properties.

"The increasing availability of properties in the cities and the resorts, combined with property prices that are currently the lowest in Europe is a highly attractive proposition for the wise investor .." says David Livingstone, CEO of MovetoBG.com. "The market has turned the corner through 2011 .." he continued ".. and we expect to see property purchases across all sectors rising as we head into 2012."

Moody's: Bulgaria’s Credit Rating Outlook is Positive

2012-01-09T10:38:00.016+02:00

Thanks to resilient growth and further tightening of fiscal policy, Bulgaria's credit rating outlook is positive according to Moody’s Investors Service.

Moody’s credit outlook analysts Kristin Lindow and Renzo Merino point out that the tight fiscal policy stance of the Bulgarian government led to the country having the only sovereign rating upgrade in the European Union since the global crisis began in 2007.

"Continued positive growth, as well as fiscal consolidation measures, will help Bulgaria remain one of the very few low debt countries in Europe", the analysts said.

In July of last year Bulgaria's rating was raised to Baa2. However, Moody's has now confirmed that it will most probably review its assessments of the Eurozone countries in the first quarter of 2012 due to the continuing lack of effective measures for tackling the debt crisis.

At the EU summit last week the member states agreed on setting up a tax and budget union but they failed to agree on the issuing of more Eurobonds. Moody's have pointed out that this is likely to have a continuing impact on the Eurozone countries.

UK Citizens Head EU Expats in Bulgaria

2011-12-19T10:31:00.000+02:00

Figures released today show that more British people live in Bulgaria than nationals from any other country in the European Union.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

Statistics from the Bulgarian National Statistical Institute (NSI) show that there are now 36723 foreigners living in Bulgaria, accounting for 0.5 per cent of the country's population. Twenty-three per cent of these are from the EU, including 2605 UK citizens and 1253 Greeks. The largest groups of foreigners in Bulgaria are Russians, numbering 11991, and Ukrainians at 3064.

"The data shows that the biggest groups of foreigners living permanently in Bulgaria include citizens of the countries from which there are most property buyers in the country, mostly from Russia and the UK" said Polina Stoykova of Bulgarian Properties. David Livingstone, CEO of MovetoBG.com agrees, "This shows that, while investment has always been a key part of foreigners' interest in real estate, moving to Bulgaria and living here permanently is also a major driving force."

The NSI stats also showed that in the last decade the number of homes in Bulgaria has increased by 5.4 per cent and that the biggest rise has been in the regions of Bourgas and Varna.

Related articles:
Back to UK? No thanks .. we're better off in Bulgaria
Brits On The Move Trigger New Property Purchase Trend
46% of Brits Considering Emigration as a Lifestyle Choice
Bulgaria a Top Choice for 46% of Brits Planning to Emigrate

Read more on our websites ... MovetoBG.com - and Twitter @MovetoBG
Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook

FeedWind

Bulgaria Holds Top-10 Property Spot for 3rd Quarter

2011-12-04T05:59:00.000+02:00

Bulgaria remains in the Top 10 rankings of the most preferred property destinations on the British market, acoording to the quarterly report for October from The Move Channel.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

Although the actual level of interest in the Bulgarian property market on the part of British buyers decreased slightly in October, its share was 2.77% of all enquiries made to the site, which puts Bulgaria in 9th place.

In comparison, Bulgaria ranked seventh with 3.3% of all enquiries in July when the country returned to the Top 10 after more than three years. The Bulgarian property market then boasted a sharp increase in the number of enquiries in September, when it ranked sixth with 5% of all enquiries.

The October report shows that with just over 18% of all enquiries, Spain continues to be the most attractive foreign property destination for Brits, followed by the USA, France, Portugal and Italy.

Read more on our websites ...
MovetoBG.com - and Twitter @MovetoBG
Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook

FeedWind

More Rural Property Sales Signal Return to Rising Prices

2011-12-04T05:40:00.000+02:00

Property experts, Bulgarian Properties, report that the number of rural property sales in the third quarter of 2011 remains the same as in the previous two quarters of the year, so there is no significant change in this market sector.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

The only difference is in the average price of the concluded deals which in the last three months is just over 20000 Euro while in the first and second quarters of the year it was between 16000 and 17000 Euro. The difference in the prices comes from an increased number of deals with higher quality rural homes that are ready to live in right after purchase.

These properties are generally priced between 15000 and 45000 Euro and located near to the sea resorts of Bourgas and Varna or close to the big cities of Plovdiv, Stara Zagora and Veliko Tarnovo. The cheapest rural houses are in the area of Yambol and Elhovo where the average price is about 10000 Euro but there are also offers for as low as 5000 Euro.

As with holiday properties, the main buyers of rural houses are Russians. They look for houses that are furnished and ready to live in priced between 15000 and 40000 Euro, which also explains the higher prices of the rural properties sold in the last few months.

In contrast to a few years ago there is now a wide choice of quality rural houses at bargain prices. The sellers are mainly British, with some owners selling their properties at a loss after the market decline of the last 2 to 3 years.

Welcoming the increase in sales volume David Lingstone, CEO of MovetoBg.com, also points out that "..this is another strong indicator that the property market has turned the corner and is now well on the road to recovery."

Read more on our websites ...
MovetoBG.com - and Twitter @MovetoBG
Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook

FeedWind

Taking advantage of today's market conditions

2011-11-13T23:14:00.000+02:00

As the global economic crisis draws to a close, it's a good time to reflect upon Bulgaria's changed market conditions and upon the advantages and opportunities that will now begin to arise from the aftermath of the recession ...

Over the last two years many buyers have withdrawn from the market while others have become much more demanding. While the luxury property sector and major commercial development purchases have remained relatively buoyant, the impact on the mainstream market has been more dramatic. The supply of properties has increased and prices have fallen considerably. As a result, the main focus of interest for today's buyers is towards properties with bargain prices, which now make up the majority of completed deals.

Current data shows that from the peaks of 2008 through until 2010, average prices across the country have fallen by ...

* 44% for all properties around the country
* 30% for city apartments in Sofia
* 29% for houses and apartments in Varna
* 41% for ski apartments in Bansko
* 62% for beach apartments in Sunny Beach
* 67% for rural properties

... which, of course, is extremely good news if you are planning to buy property today. If you're selling, though, this may not appear to be too much of an advantage because it is likely that you will have to accept a lower price than you want.

But, consider: you are selling today at today's market price, rather than at the demand inflated prices of a couple of years ago, which has to be a good thing for the dynamics of the market as a whole. And will you be losing money on the deal? .. well, not really, because that has probably happened already when you paid more than the actual value of your property at the time of purchase. Perhaps the biggest advantage of being a seller in today's market, however, is that you can re-employ the funds from your sale and become a buyer again, which puts you in the dominant market position.

So, although you might have to think a little bit outside the box, selling today is not really about generating a profit - or even necessarily about recovering all the money that you spent on buying and maybe re-furbishing your property in the first place. Selling today is only a problem if you insist on pricing your property at a level that is too high for the market, rather than accepting the price that the market dictates and the buyer will pay. The best advice is to bite the bullet, take the money and, ideally, move on to your next purchase. In other contexts, this is often referred to as 'flipping' or 'down-sizing' - neither of which is seen as a problem ...

For advice, assistance and information about Moving to Bulgaria, we recommend that you visit our website at MovetoBG.com - and for accommodation options, resources and services, we suggest Bulgaria Gateway

Bulgarian Property Prices Reach Their Baseline

2011-11-10T19:50:00.000+02:00

According to the popular TV programme 'A Place in the Sun', the cost of buying property in Bulgaria is getting cheaper, which is good news for Brits seeking a bargain holiday home in Bulgaria.

From the latest data released by Raiffeisen Real Estate, as featured on the programme, Bulgaria property prices continued to fall during the final quarter of last year, with prices in the capital Sofia dropping by 9.4 per cent year-on-year and by 5.2 per cent compared to the third quarter of 2010.

This is confirmed in the latest market analysis from Property Partners BG but Managing Partner, David Livingstone says, "The worst is behind us, prices have reached the bottom of the curve and there are signs that buyers are returning to the market, picking up bargains before prices increase again."

Although the residential property market in Bulgaria has received massive investment from both locals and foreigners over the past few years, property prices have fallen and transactions have slowed considerably since 2007, as a consequence of an oversupply of homes and the financial downturn in the economy. Overall, property prices have depreciated by around 60 per cent, which means that price levels are currently the lowest in Europe.

Related articles:
Brits Searching for Bargains in Bulgaria's Property Market
Time to Buy in Bulgaria's Recovering Property Market
Bulgaria Gateway Property Market Analysis - Q1 2011

Our aim is to provide a single source of information, advice and practical help for everybody visiting Bulgaria. So, whether you are planning a relaxing holiday break, a travel adventure, a fact-finding trip for your property purchase - or if you are thinking of moving here permanently, we recommend that you visit our websites at:

MovetoBG.com - and Twitter @MovetoBG
for comprehensive information, advice and assistance

Bulgaria Gateway - and Twitter @BulgariaGateway
for accommodation options, resources and services

Property Partners BG - and Twitter @Prop_PartnersBG - or on Facebook
for all the latest real estate listings and offers of properties for sale

Investors Interested in Bulgarian Property for High Rewards

2011-11-08T11:47:00.000+02:00

Buying property abroad could lead to high profits, it has been suggested by Founding director of Property Frontiers, Ray Withers, who believes that a number of people who traditionally buy commercial real estate in the UK are starting to look overseas.

"More and more investors are showing an interest in purchasing properties abroad for their high profit potential .." he said ".. and this could be because it is seen as a way of reaping reasonably high rewards".

In a recent report cited by CFG, Commercial Finance Group, Withers stated that investing in countries with economies that are recovering means that commercial property buyers are likely to earn a profit. He noted that this is especially the case in emerging markets.

Bulgaria and Montenegro were highlighted as places with particularly good opportunities, with Property Frontiers pointing out that investors could purchase a brand new holiday apartment in these locations from as little as £23,000.

Investors considering purchasing real estate abroad to use or to rent out to tenants were recently advised by Jonnie Irwin, presenter of "A Place in the Sun: Home or Away", to consider the market potential before signing any contract. MovetoBG.com endorses this advice and adds that buyers should always conduct background research, identify a range of property options and follow a strategic plan for their property purchase.

Discover Bulgaria - a Magic Worldwide Hit

2011-11-02T06:59:00.000+02:00

Impressive estimates have been reported of the number of worldwide viewers who watched the recent series of TV ads for Bulgarian tourism featured on four international TV channels. This is the second year that the campaign has been run and, for 2010 - 2011, a total of 137 million viewers are said to have watched Bulgaria's tourism ads at least four times on National Geographic, Euronews, Eurosport, and Discovery Channel.

Aneliya Genova, head of Marketing, Advertising, and Information in Tourism in the Ministry of Economy, Energy, and Tourism announced that the advertising campaign cost a total of BGN 7.5 million funded through the EU Regional Development Program and took place between 6th September and 27th December 2010 and then from 31st January until 27th March, 2011.

A total of 561 30-second video ads of Bulgaria were shown on Eurosport, 952 on Euronews, 504 on National Geographic, and 1020 on Discovery Channel. The videos on Euronews and Eurosport were general, while those on National Geographic and Discovery focused on culture and nature.

More than half of the ads were shown during prime time viewing of the four channels. A total of 14 million page views were also generated through Bulgaria's advertising banners on the TV channels' websites. All four channels made documentaries about Bulgaria as part of the advertising campaign.

Despite some public debate as to the quality and substance of the videos and the campaign's general approach, the Bulgarian Economy Ministry says that the priority was to focus on image-making and increasing awareness about Bulgaria, and that the overall effect of the campaign is yet to be fully measured. When the campaign was introduced in August 2010, there were estimates that it was supposed to increase the number of foreign tourists in Bulgaria by 4%-5% and recently released reports suggest that this target is likely to be achieved.

Bulgaria's TV ads were aired abroad under the Discover Bulgaria - Magic Lives Here slogan - an example of a typical 30-second ad can be viewed here on YouTube.

Back to UK? No thanks .. we're better off in Bulgaria

2011-10-24T05:29:00.000+03:00

If homesickness is the curse of life as an expat, then millions of Britons abroad are bearing up manfully.As Britain’s economy continues to stall and the country recovers from the summer riots, hundreds of thousands have decided to scrap plans to come home.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

Research from Lloyds TSB International published today confirms that of the 5.5 million Brits living in Bulgaria and other overseas countries, 69% say they will stay away from Britain permanently as the UK is now ‘more expensive, less safe and offers a lower quality of life’.

More than two thirds of expats, 3.74 million, say they are happier living abroad, with 825,000 having cancelled their plans to come back during the last 12 months, while 74% say their quality of life is better abroad, 64% say they are wealthier and 52% say their cost of living is lower. Furthermore, many believe, generally, that living abroad is beneficial for their children as it offers the experience of another culture and the opportunity to learn a language, while 51% state that their particular country of residence is a better place to raise children.

Tony Wilcox of Lloyds TSB said:"Expats have an enlightening view of the UK, having experienced life both home and away, so it is worrying that life in Britain appears so bleak when viewed through their eyes."

Commenting on the findings, David Livingstone, CEO of MovetoBG.com said, "This follows the trend that we have been seeing in Bulgaria through the course of this year and, while we can't speak for other countries, it's evident that the key factors encouraging people to move - and stay - here include the comfortable cost of living, the relaxed lifestyle and the extremely attractive price of properties, currently the lowest in Europe."

Related articles:
Brits On The Move Trigger New Property Purchase Trend
46% of Brits Considering Emigration as a Lifestyle Choice
Bulgaria a Top Choice for 46% of Brits Planning to Emigrate

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Sofia Airport Launches First Tourist Information Center

2011-10-15T19:01:00.000+03:00

Sofia Airport and the municipality-owned Tourism Services company will launch a new Customer service center providing airport and tourist information.

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The official opening has been scheduled for October 17th at the public zone in the arrivals hall of Terminal 1, Sofia Airport's press office said in a statement, as reported by the Bulgarian Telegraph Agency (BTA).

The information center will offer free-of-charge information about historic and cultural sights in the capital, hotel and transport services, local events and will provide a wide range of brochures and maps of Sofia in different languages.

The new center will help guests of Sofia get better acquainted with the city and will contribute to the promotion of Bulgaria's capital as an attractive tourist destination and a European Capital of Culture.

The information center will be open from the first till the last flight for the day and a second tourist information center is to be opened shortly at Terminal 2.

The project has been implemented in conjunction with a the recent commitment to a new and comprehensive strategy for tourism announced yesterday by Rosen Plevneliev, ruling center-right GERB party candidate for the forthcoming Presidential elections.

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Presidential Candidate Boosts Tourism with new Strategy

2011-10-15T18:40:00.000+03:00

Bulgaria will have a comprehensive strategy for the development of its economy, stated Rosen Plevneliev, ruling center-right GERB party candidate for the forthcoming Presidential elections.

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"A better infrastructure for the tourism industry, better planning and a better urban environment .. all of this is possible, but cannot happen piecemeal," said Plevneliev on a campaign trip to Pleven. In his visit, Plevneliev was accompanied by Bulgarian Parliament speaker Tsetska Tsacheva, who was elected as an MP from Pleven.

"I have made a personal commitment to work for the improvement of the business climate and that our country develops its Bulgaria Tourism Strategy," added Plevneliev, who before deciding to run, was Minister of Regional Development in the cabinet of encumbent PM Boyko Borisov.

Earlier Thursday in a visit to nearby town of Dolni Dabnik, the GERB presidential candidate estimated that Bulgarian tourism has already grown by around 6% for 2011. This is confirmed by official figures released by the Ministry of Economy which estimate that, for the year, tourism in Bulgaria will have grown by some 6 to 7%.

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Bulgaria's Real Estate Market - 4-Fold Increase in Activitry

2011-10-06T07:58:00.000+03:00

Further signs of recovery in the property market were reported today by real estate experts citing a 4-fold increase in buyer enquiries and completed sales.

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MovetoBG.com CEO, David Livingstone confirmed recent data from Bulgaria's Address Real Estate company indicating that the real estate market seems to have recovered from the crisis, as it has grown four times more active than in its worst period.

According to an analysis prepared by Address, properties valued under Euro 50000 are the most sought after among buyers. But even though 45% of all buyers are looking for properties at this price level, deals worth more than Euro 100000 are not as rare as they have been during the past year or so.

The report also points out that the majority of buyers are employed within the economic sectors that have remained relatively unaffected by the crisis, including the food, medical and education industries, as well as state administration and that they are now more inclined to complete deals more quickly, usually within 2 to 3 months after they start their property search..

While 2-bedroom apartments in the cities are the most sought-after property type in the domestic market, it is still family houses in the inland towns and villages that are attracting most interest from foreigners. Potential buyers are now registering interest in renovated and furnished properties in good condition priced at around €30000 to €40000 on the Black Sea coast and in low-cost rural houses for renovation in a number of inland areas, including the regions around Veliko Tarnovo, Sliven, Stara Zagora and Plovdiv.

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Bulgaria's Property Market Stable and Credit Demand Rising

2011-10-04T08:09:00.002+03:00

The number of new mortgage loans has risen in Bulgaria in the third quarter of 2011 as the real estate market is stabilising and banking activity is becoming more dynamic, according to a report from Sofia-based financial consultancy, Credit Center.

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The number of mortgage loans increased by 18% in Q3 compared with Q2, with the average amount of a mortgage advance rising to Euro 40595, which is closer to pre-crisis levels, compared with Euro 38366 for the previous month. A total of 94% of new property credits are in Euro, with just 6% in Bulgarian Lev.

"The reason for the growing amount of the mortgages is increasd activity in all segments of the property market. Even though the greatest demand is for two-room apartments worth between Euro 40000 and Euro 60000, the last quarter has seen demand in all price categories of the real estate market, and obtaining credit is becoming easier and easier since in 90% of the deals, the buyer manages to negotiate a very good price for the respective property," explained Tihomir Toshev, CEO of Credit Center.

According to the consultancy, buyers for larger apartments of the type who drove the demand before the crisis have also started to re-emerge in the past month.

The Credit Center analysts say that, while clients are demonstrating a higher level of caution with new property deals, the trends since the beginning of the year indicate that the property market has been growing slowly but steadily, strengthening evidence hopes that the collapse caused by the financial and economic crisisit has already been reversed.

Related articles:
Brits Searching for Bargains in Bulgaria's Property Market
Time to Buy in Bulgaria's Recovering Property Market
Look Inland for Today's Bulgarian Treasures
Rising Property Sales Reported in Bulgaria
Bulgarian Property Prices Reach Their Baseline

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British Buyers Still Snapping up Property Bargains

2011-10-02T11:36:00.000+03:00

While Europe continues it's battle with economic uncertainty, the crisis hasn’t deterred British buyers from snapping up property bargains.

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Currency exchange specialist World First says transactions for holiday home purchases in Spain, Bulgaria, Italy and Greece, where property prices have plunged, more than doubled over the summer.

The World First report matches recent data from The MoveChannel's latest 'Top of the Props' web search survey and from real estate experts on the ground in Bulgaria, who have consistently identified market recovery, stabilisation and rising sales through the past six months.

Reviewing the report, John Preston, Operations Manager at Property Partners, said, "This is a particularly important signal for people considering property purchase in Bulgaria because it locks into place what has now become a positive trend through 2011. We have been seeing increasingly positive figures since the end of last year but, without question, the last 3 months has been the most successful period for the real estate industry since the beginning of the financial crisis."

"Bulgaria's economy is strong .." he continued, ".. investment in infrastructure continues to grow year-on-year and tourism numbers are better than at any time since 2006. Perhaps most importantly, though, buyers are well aware that property prices here are currently the lowest in Europe, which is one of the main reasons that Brits continue to choose Bulgaria."

The total of completed property deals in Bulgaria increased by 36% in the first half of 2011 and data from the Bulgarian National Registry shows that the country's four largest cities, Sofia, Plovdiv, Varna and Bourgas, as well as the major beach and ski resorts all displayed increases.

Commenting on the World First report, David Livingstone, CEO of MovetoBG said, "This confirms everything that we have been seeing through the year .. and now, as we enter the last months of 2011, the Bulgarian property market is looking as positive as ever."

Related articles:
46% of Brits Considering Emigration as a Lifestyle Choice
Bulgaria a Top Choice for 46% of Brits Planning to Emigrate
Picking up a New Trend for Property Purchase in Bulgaria ..
Experts Agree that Property Market has Bottomed Out
Rising Property Sales Reported in Bulgaria

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Brits On The Move Trigger New Property Purchase Trend

2011-09-29T17:27:00.000+03:00

Two major research studies have found that almost half of the UK population are now so disillusioned with their quality of life that they are considering emigration as a lifestyle choice - and property sellers across Bulgaria are upping the ante to attract them ...

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According to research from insurance company Aviva, published earlier this year, 54% of the people aged 18 to 45 that they surveyed are considering a move overseas, with 46% definitely planning to leave the UK to live abroad and making their move permanent. And in a parallel poll accompanying the latest uSwitch Quality of Life Index, the same 46% figure is also revealed as the proportion of those who had considered emigrating.

Both of these studies identified that the UK's position in terms of quality of life measured against a fixed set of criteria, such as: cost of living, working culture, spending on health and education, holidays, retirement and fuel costs is continuing to decline. In fact, the uSwitch Index shows that the UK is now considered the worst place to live in Europe.

The nations that are most highly favoured by Brits considering emigration are: Australia for a better work-life balance, America for employment and business opportunities and, in Europe, Spain for the weather and life expectancy and France for lifestyle, healthcare, early retirement and holidays.

So where does that leave Bulgaria? Well, firstly there is the wealth of well established positives, including: the low cost of living, the scenery, the climate, the beaches, the skiing, the culture, the history and, of course, the people themselves, all of which contribute to Bulgaria's ever-rising tourist numbers. Secondly, after a couple of years of relatively quiet activity following the global recession, Bulgaria's economy is strong, investment in infrastructure continues to grow year-on-year, and, in its monthly analysis of buyers' web search activity, the Move Channel has identified that Bulgaria is now firmly back in the top-ten preferred property investment destinations. Thirdly, market experts are now identifying strong indicators of steady and sustainable growth, with leading real estate agents consistently reporting rising sales volumes since the beginning of the year. Fourthly, and perhaps most importantly, we must also consider the highly attractive cost of properties - currently the lowest in Europe - which is consistently one of the main reasons that Brits continue to choose Bulgaria.

But despite all of this, Bulgaria's property sellers are clearly not prepared to rely only upon the price advantage that they have over other European destinations. Instead, they are now bringing forward a raft of value added incentives to make the purchase of a property in Bulgaria even more attractive.

Within its primary role of seeking out the most attractive property offers available in Bulgaria, Property Partners BG has recently discovered details of a number of 'Buy One Property - Get Another Free' offers now on the market, which information portal Bulgaria Gateway has described as ".. an interesting and innovative marketing strategy with the potential to create a new niche sector in the market."

And hot off the press today comes news of yet another added value offer. In this case, the deal is for the purchase of a 'Renovated & Furnished Guesthouse plus Property Portfolio', which, in a nutshell, involves buying the Guesthouse for what already seems like a highly attractive price - and you will also become the owner of three additional properties at no extra cost.

Asked to comment on these new offers, David Livingstone, CEO of MovetoBG.com, said "This seems to be setting in as a definite trend which may well be a reflection of the growing levels of confidence that both buyers and sellers are now demonstrating about property in Bulgaria."

"It's all about added value .." he continued, ".. and it doesn't get much more valuable than adding additional properties for free - which is why we expect to see much more of this type of strategy over the coming months."

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