Throughout the last decade, Bulgaria created its real estate investment profile mainly through huge coastal developments and ski resorts. Property investors were attracted by low prices and the natural beauty of the country. However, the combination of over-development and the global financial downturn seriously undermined confidence in its property market. So, should investors consider Bulgaria now?
Many real estate professionals are convinced that Bulgaria remains a market where low prices can mean huge capital gains within five years. Currently, foreigners have to open a Limited Company in Bulgaria to own a freehold. Although this is fairly simple and not so expensive to comply with (fees in the range of 2,500 euro), it has deterred some investors. However, from 1st January 2014 onwards this requirement will be lifted, opening new horizons and sending property prices higher.
Right now, opportunities for investments are plenty as the country offers a large variety of beautiful leisure facilities: skiing in winter and in summer, golf courses, lakes and beach resorts.