Buying Off Plan Bulgaria

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 minimize 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 in Bulgaria 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.

If we use for an example an apartment in Sunny Beach
Property Purchase Price:Deposit payable:Total Deposit 2 bedroom apartment with sea view€ 80,000 (Jan 2005) € 8,000 Deposit payable within 3 weeks of reservation€ 12,000 on completion of the Roof (expected Aug 2005)€ 20,000

Let us assume that you sell the property in March 2006 just before the completion, and that you sell for 100 000 Euros (this is a much lower return than has been achieved in recent years)

Your profit is €20,000, a 25% return on the € 80,000 asking price, but remember all you have had to pay is a € 20,000 deposit, so your actual return on cash invested is 100%

Bulgaria is a country of immense variety, both geographically and culturally. As a destination, the country has only received widespread recognition within the last couple of years. Many locations have yet to be discovered by international tourism.

The full potential of Bulgaria has yet to be recognised or achieved. With the economy growing at 6% per year and unemployment falling fast (just 12% currently), Bulgaria's economy is quickly integrating into the EU prior to its 2007 membership.

Inward investment continues apace with international organisations predicting continued economic prosperity for the foreseeable future.
International interest in the property market was initially concentrated in the coastal beach resorts of the Black Sea.

As the market as developed and matured an ever increasing variety of property has become available catering to the differing interest and needs of international buyers. Prospective buyers can now choose between mountain ski resorts, historic villages, luxury apartments in the capital or coastal villas.

With in depth knowledge of the property market in Bulgaria, we help our clients choose the appropriate property that meets their aspirations. Our clients achieve early access to new developing areas due to our extensive network of offices and contacts within Bulgaria.