Why Invest in Bulgaria
The appeal of Bulgaria is obvious, glorious beaches, stunning countryside and snowy mountains. It’s not that far from the U K and there are more and more flights being introduced. Over 150 days of sunshine a year for the summer and top ski resorts for the winter.
Bulgaria is a country that not only compares to Spain and other top places, but the property prices are less than a quarter of those in Spain.
The cost of living is much lower than other European countries, with a dinner for two costing around 7 Euros (£5.00 approx) and a pint of beer for 0.70 Euros (50p approx).
The currency (Lev) is pegged to the Euro. Most property can be bought and sold in Euros.
Property prices have risen by over 50% in some regions and are expected to continue to grow.
The tourist industry is booming and Bulgaria’s Black Sea Coast and mountain ski resorts are popular options for holidaymakers and investors. The property market in Bulgaria has performed very well with prices rising rapidly due to wage inflation as well as growing prosperity and access to less constrained mortgage finance.
There has been a classic combination of catch-up, speculation, second home interest and slow but sustained economic growth underpinning prices. Income from visits by foreign tourists for the summer season was around 600 Million Euros with 1.5 million visitors during the summer of 2006.
Bookings to Bulgaria have risen by 40% in the last six months and since joining the EU in January 2007, we expect to see a significant increase in the number of tourists heading there to take advantage of the Euro.
Low unemployment rates – down to 3% in Sofia.
The population is earning more and foreign investments are growing.
Member of NATO since 2004.
Full EU membership 01 Jan 2007.
Roughly the same size as England but with a population of just 8 million.
The number of visitors is also rising - from 3.2 million in 2001 to 4.8 million in 2005, anticipated to rise to 8 million visitors this year 2007. Mario Al-Jebouri, the new head of the State Tourism Authority, acknowledged the country's potential to become a year-round tourist destination.
Flights are only two and a half to three hours from the U K. Low-cost airlines are entering the market so the number of direct flights is increasing.
If you buy in Bulgaria you’ll be in good company with some big International Investors:-
HEWLETT PACKARD: The decision to develop it's Bulgarian operations reflects HP's commitment to the Bulgarian market. It aims to support the development of the national IT infrastructure in Bulgaria with technology solutions, know how, project management and financing.
AMERICAN STANDARD: largest European sanitary houseware production facility.
NOKIA: mobile telephone systems.
DANONE: milk products.
SOLVAY: fully integrated chemical plant.
UNICREDITO ITALIANO GROUP: successful privatisation of the Bulgarian foreign Trade Bank.
SHELL & SHELL GAS: over 90 filling stations across the country and suppliers of LPG for domestic purposes.
CABLE & WIRELESS: investors in Bulgaria’ first mobile telecommunications network and installed a nationwide public payphone system.
SKF: low cost bearings production and assembly.
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