Investing in Bulgarian property

Bulgaria, a country in Eastern Europe with a marvellous climate that sat dormant for the past 14 years, has been discovered by the Western world as the new investment opportunity. Even though Bulgaria is only 111,000 square kilometres and contains a population of eight million, the country offers both summer and winter season holidays. With its Mediterranean climate, it offers lovely holidays on the Black sea coast through the strong summer season. The diverse terrain and the mountain ranges offer true skiing holidays in the winter, which are becoming more and more popular and are attracting a vast number of Western tourists.

Although Black sea coastal resorts such as Sunny Beach and Golden Sands have usually attracted Russian and German tourists, for the first time, this year the British are flocking to the sandy beaches.

With its low cost of living, Bulgaria is a very inexpensive country for the British pound. Brits marvel at the fact they can purchase a pint of beer in a decent pub for around 30p. It is a similar case with the property market. One can find a detached village house for as low as £5,000.

Emil Ivanov, the director of E&D Agency Ltd, a company that has become one of the largest specialists in Bulgarian property, predicts that “we will see a big property price increase once Bulgaria joins the EU in 2007”. Currently, prices are rising at an average of 20% per year. However, an increase of 30% was seen last year. Bearing that in mind, it is easy to see why Bulgaria has become such an attractive new property market for investors.

Investing in such a new market is profitable only when done with the right company. E&D Agency is a British company set up by Bulgarian Estate Agents with a wealth of experience in overseas markets, having worked in Turkey, Cyprus and Malta on the English market and for more than a year now offering Bulgarian property to British clients.

Emil Ivanov says “When we started offering Bulgarian properties on the English market there were very few companies doing so and nobody regarded Bulgaria as a potential country for investment; 12 months later every overseas estate agency in England is looking to have Bulgarian properties in its books.”

According to E&D Agency, investing in Bulgaria is no easy matter –-especially when you are not advised by the right people. “Yes”, says Emil Ivanov “we have houses for £5,000 but I wouldn’t advise a client who wants to purchase a house and rent it out, to buy such a property. There is property for retirement, property for renting out, property for investment and property for resale and a client always has to be advised which one is right for them. E&D Agency takes great care in giving its investors the right direction in Bulgaria since we offer a wide variety of service, and client relationships don’t end with the sale of a property. Afterwards we offer full property management and advice is realistic in respect to the market.”

In the several off-plan apartments that E&D Agency offers, on the coast and in the mountains, they organise letting out of such properties upon completion, therefore making E&D Agency one of the sure companies to go for. With the headquarters office in England and branches in Sofia and Bourgas, communication is made easy and a property purchase is less consuming to the client since services are offered from money transfer to Notary Deed-delivery in England. E&D Agency employs independent lawyers, who pursue the interests of the buyer in Bulgaria and conduct the extensive documents checks on the property, thus giving a client maximum security for their purchase since they are secured by the English law.

Bulgaria is definitely the country to invest in, but if you are thinking of investing do budget for a £40,000 double bedroom apartment on the sea-front that will bring you realistic guaranteed rent. But if you want to own a property and resell it after a few years with a profit, you can always go for the £5,000 houses. E&D Agency will find the property that is required and will always give independent legal advice if you have already found a property. So, if you are considering Bulgaria and want security and professional service, contact E&D Agency Ltd.

Contact:
E&D Agency
tel: +44(0)20 7692 5666

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