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Bulgaria is a developing country striving to enter the European Union.
In the last 10 years, the country has experienced macroeconomic stability
and strong growth. The Bulgarian government is committed to economic
reform and responsible fiscal planning. Macroeconomic stability is
ensured by the imposition of a fixed exchange rate of the Bulgarian
Lev against the Euro and the negotiation of an IMF standby agreement.
Low inflation and steady progress on structural reforms have greatly
improved the Bulgarian business environment; Bulgaria has averaged
4% in economic growth since 2000 and has begun to attract significant
amounts of foreign investment.
Buying an ‘off plan’ apartment in Bulgaria is essentially the same as buying in the UK and means reserving a property on a new development before the property is completed, often before construction has started. Buying ‘off-plan’ can prove a fantastic investment and prices are extremely competitive at this early stage as potential investors only have floor plans and artist impressions of the finished development to view and developers are keen to sell to minimise risk and to provide the project with some forward momentum.
You then have the option of selling straight away upon completion for a profit, or you can hold on to your property for further rental/ capital growth whilst having a great holiday destination to visit. Holding on to the property for a longer-term means you can benefit from Bulgaria’s expected accession to the EU in 2007 where considerable appreciation is expected throughout the Bulgarian real estate market, with holiday apartments expected to lead the way and appreciate the most in value.
'Off Plan' purchases have provided spectacular returns for hundreds of people over the last couple of years. The real key to why buying 'Off Plan' can prove such a good investment lies in the fact that in many cases you only have to pay initially a deposit as low as between 10% - 25% of the purchase price and then nothing until various stages of the project are completed.
The lawyers we associate ourselves with are independent and act solely on their clients (your!) behalf.
All lawyers are English & Bulgarian speaking and have previously handled numerous UK/Irish clients – including under the authority of
Power of Attorney.We can offer this full legal service which according to Bulgarian Property Law are required and enough to protect your
interests in the best possible way exclusive to bestbulgarianrealestate clients.
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Best Bulgarian Real Estate Ltd - A Leading Agent for Property in Bulgaria
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