Bulgaria Back in Top 10 Locations for British Property Buyers

Bulgaria has regained its popularity as a prime location for overseas property buyers, breaking back into the top ten most preferred real estate markets for Britons, according to a UK guide for residential property.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

In the MoveChannel's definitive monthly listings for overall real estate enquiries, 3.3% of all traffic in July was directed at Bulgarian property, marking the country's return to the overseas property portal's top ten for the first time in three years. In the comparative list of overall enquiry volume Bulgaria ranked seventh, overtaken by Brazil and followed by Turkey.

"As the Euro debt crisis continues, people are looking for bargain investments and holiday homes at low costs. Bulgaria's real estate sales have been improving all year, with buyers attracted by exceptionally low prices for attractive property, so it's no surprise that interest has increased," commented the portal's director Dan Johnson.

The most popular destinations for a place in the sun overseas remain the same, with Spain staying in the top spot for a second month running. Together with France, USA and Portugal, the traditional destinations account for over a third of all property searches from buyers interested in property abroad. The value of UK-owned foreign property investments peaked at GBP 58 billion in 2008, up from GBP 10 billion in 2000.

More recently however, buying patterns have changed with the increase in real estate sales now attributed to a combination of falling prices and the continuing growth in Bulgaria's economy as a whole.

Related articles:
Bulgaria's Q2 Property Sales Rocket by 48%
Experts Agree that Property Market has Bottomed Out
Rising Property Sales Reported in Bulgaria
Bulgarian Property Prices Reach Their Baseline
Time to Buy in Bulgaria's Recovering Property Market

Read more on our websites ...
MovetoBG.com - and Twitter @MovetoBG
Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook

FeedWind

Signs that the recession is coming to an end ..?

Recent media reports provide a solid indicator that the impact of the global recession is lessening and that people are beginning to consider Bulgaria's emigration and investment options again ...

Populus poll on 10 February shows that 42 percent of UK citizens believe that Britain is broken and want to emigrate ... welcome to BG folks

Primelocation survey on 24 February shows 134 percent year-on-year increase for January in web searches for information re: Bulgaria, Turkey and Cyprus ... more people making their moving decision?

Bulgaria's National Statistical Institute (NSI) has reported a 16 percent increase in British visitors for January compared with the same period in 2009 ... half of these were skiers - half were here to look at property as their first step in a possible move to Bulgaria sometime in the next year

The general trend is that most real estate agents are reporting that the decline appears to be over and client enquiries are now static or rising

The Spring and Summer period this year is set to be extremely interesting

For advice, assistance and information about Moving to Bulgaria, we recommend that you visit our website at MovetoBG.com - and for accommodation options, resources and services, we suggest Bulgaria Gateway

Driving in Bulgaria

Visitors to Bulgaria may drive using their national licence as long as it complies with international standards. The standard credit card type EU driving licence with photo identity is recognised but with licences from other countries it is advisable to carry an international licence as well. EU citizens who are long-term or permanently resident in Bulgaria are not required to take a driving test or hold a Bulgarian licence, although non-EU nationals will usually need to do so. This should be checked with the local police in the town or city of residence.

Fuel in Bulgaria is lead free and available at 98, 95 and 92 octane levels. Diesel fuel is also widely available through the country, together with LPG and there are petrol service stations along all major routes. Road signs follow international standards and are often written in English as well as Bulgarian. All drivers should be aware that roads are not maintained to the same standards as in other European countries and, as a result, potholes and uneven surface conditions are common. Under Bulgarian law seat belts must be worn by all passengers, mobile phones can only be used with hands-free sets and headlights are required at all times between 1st November and 31st March. Speed limits for cars are 50 km/h (30mph) inside city. town and village limits, 90 km/h (55mph) outside built-up areas and 120 km/h (75mph) on motorways. Roadside speed cameras are in place and police patrols operate on all main roads and some minor roads. Depending upon the circumstances of any particular situation, traffic police are empowered to levy on the spot fines of up to 50 Lev (€25 / £22) for which a receipt will be given, or issue a ticket for any offence, or confiscate an offending driver's licence. The sensible approach is to be aware of traffic rules and to drive carefully.

Obligatory insurance (similar to 3rd party) is required, while comprehensive insurance is optional. Road tax is based on engine size and vehicle age and is levied by the Obshtina (local authority) of the town or city where the vehicle is registered. In addition, all vehicles driving on public roads are required to display a Vignette window sticker costing 67 Lev (€34 / £30) a year. All vehicles over three years old must undergo an annual roadworthiness test (similar to MOT)

For advice, assistance and information about Moving to Bulgaria, we recommend that you visit our website at MovetoBG.com - and for accommodation options, resources and services, we suggest Bulgaria Gateway