Investors Interested in Bulgarian Property for High Rewards

Buying property abroad could lead to high profits, it has been suggested by Founding director of Property Frontiers, Ray Withers, who believes that a number of people who traditionally buy commercial real estate in the UK are starting to look overseas.

"More and more investors are showing an interest in purchasing properties abroad for their high profit potential .." he said ".. and this could be because it is seen as a way of reaping reasonably high rewards".

In a recent report cited by CFG, Commercial Finance Group, Withers stated that investing in countries with economies that are recovering means that commercial property buyers are likely to earn a profit. He noted that this is especially the case in emerging markets.

Bulgaria and Montenegro were highlighted as places with particularly good opportunities, with Property Frontiers pointing out that investors could purchase a brand new holiday apartment in these locations from as little as £23,000.

Investors considering purchasing real estate abroad to use or to rent out to tenants were recently advised by Jonnie Irwin, presenter of "A Place in the Sun: Home or Away", to consider the market potential before signing any contract. MovetoBG.com endorses this advice and adds that buyers should always conduct background research, identify a range of property options and follow a strategic plan for their property purchase.

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

Russians Moving Inland for Bulgarian Property Bargains

Following the unprecedented levels of interest from British investors between 2005 and 2008, Bulgaria's property market is currently experiencing a dramatic turnaround in the nationality of today's buyers.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

Real estate agents are reporting that more and more Russian investors, whose primary focus has previously been towards villas and mid-to-high value properties situated along the Black Sea Coast, are now coming to Bulgaria with the intention of buying a second home in the country or living here permanently. It appears that many Russians are having a change of heart and direction when considering purchasing a new home in Bulgaria. Many have decided to take a look at what’s on offer away from the coastline and are now heading inland to find their dream home.

The condition and type of property that potential buyers are looking for is also changing. In addition to refurbished and furnished properties, which are always in demand, estate agents are now showing older rural and village properties in need of renovation to their Russian clients.

It is thought that the economic climate and the low cost of properties is proving attractive to a new tranche of Russian buyers who are considering a permanent move to Bulgaria in a bid to escape the ever increasing cost of living in their homeland. Locations such as the old capital of Veliko Tarnovo, Stara Zagora, Sliven and areas around an hour's journey inland from the coast are experiencing growing interest and are affordable to many people with a lower budget.

Property experts are forecasting that the current trend will develop further through 2011 but, as the property market continues to recover, Russians will once again be replaced by the British as Bulgaria's number one investors.

Related articles:
Look Inland for Today's Bulgaria's Treasures
Bulgarian Property Prices Reach Their Baseline
Bulgarian Property Market Boosted by Russian Investors
Bulgaria Gateway Property Market Analysis - Q1 2011

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Bulgaria Gateway - and Twitter @BulgariaGateway
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Bulgaria's Q2 Property Sales Rocket by 48%

Data from the Bulgarian National Registry shows that the number of completed property deals has increased by an amazing 48% in Q2 2011 compared with the same period in 2010.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

The total of completed property deals in Bulgaria increased by 36% in the first half of 2011 and by more than 90% in Q2, compared with the first 3 months of the year.

Commenting on the recently released data, David Lingstone, CEO of MovetoBG.com said, "This is a particularly important signal for people considering property purchase in Bulgaria because it locks into place what has now become a positive trend through 2011. We have been seeing increasingly positive figures since the end of last year .." he continued ".. but, without question, Q2 has been the most successful 3-month period for the real estate industry since the beginning of the financial crisis."

MovetoBg.com has recently identified a number of positive movements in the property market on the basis that the combination of price falls and increases in the volume of sales has been the key indicator of recovery across the real estate sector.

Related articles:
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
Bulgaria Gateway Property Market Analysis - Q1 2011

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Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook

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Rising Property Sales Reported in Bulgaria

The Bulgarian property market has improved since the beginning of the year, says Polina Stoykova, CEO of leading real estate agency Bulgarian Properties.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

The increase in real estate sales is attributed to a combination of falling prices that have attracted investors and continuing growth in Bulgaria's economy as a whole.

Ms Stoykova went on to state that Sofia and destinations along the coast of the Black Sea are the most popular locations for real estate transactions, accounting for 40 per cent of the total volume of sales in the nation between January and June.

Similarly, data from Bulgaria's Registry Agency recorded a 27 per cent rise in the number of property deals carried out in the first half of the year, compared with the same six months in 2010, with the country's four largest cities - Sofia, Plovdiv, Varna and Bourgas, also displaying increases.

"This is a confirmed positive sign for the maket .." said David Livingstone, CEO of MovetoBG.com ".. and it backs up our forecasts that this will be the year of recovery". Endorsing this view, Curtis Coward, CEO of the Arceland Asset Management Fund, told the Sofia News Agency that he anticipates real estate values in Bulgaria to now rise steadily and at a sustainable rate.

Related articles:
Bulgarian Property Prices Reach Their Baseline
Time to Buy in Bulgaria's Recovering Property Market
Experts Agree that Property Market has Bottomed Out

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MovetoBG.com - and Twitter @MovetoBG
Bulgaria Gateway - and Twitter @BulgariaGateway
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EU Scheme to end Problems in Cross Border Property Deals

The EU parliament has announced the introduction of a pilot scheme - the Cross Border Electronic Conveyancing (CROBECO) - which promises to end the probems experienced by expats when buying property in Spain and other EU countries.

Property in Bulgaria - Today's Top Listings

Living in Bulgaria - Today's Top Stories

Describing the key components of the scheme, set up by the European Land Registry Association (ELRA) and funded by the EU, Diana Wallis MEP, highlighted that it will allow for the purchasing procedure to be settled in the buyer's home country. Property deals will be managed under the protective laws of that country and compensation to the buyer will be guaranteed for unknown restrictions and violation of the contract by the seller.

Currently being piloted in Holland and Spain, the CROBECO scheme means that a Dutch buyer of Spanish real estate can apply Dutch law to the contract and ask a Dutch court for compensation from the seller if he later finds out there are unknown public limitations, such as retrospective planning laws, affecting the property. Similar pilot schemes in other countries are expected later this year.

Diana Wallis MEP, a long-term campaigner for an EU-wide guarantee of legal certainty when buying overseas, said: "The EU has a role to play in helping to facilitate property deals across borders and at the very least in providing a framework of legal certainty. In practice, this means we must ensure that there is full access to information on the state of a property, the conditions attached to it and any other legal obligations or obstacles. This must go hand in hand with a transparent administration of the property deal and a quick and clear judicial process in case something goes wrong."

A spokeman for ELRA said: "The fact that the deed is processed in the buyer's own language by a conveyancer from their own country, will make the buyer feel that they are better legally protected and less reluctant to buy real estate in foreign countries."

The scheme is likely to be highly popular with property investors looking to snap up a bargain safely, as well as to countries such as Spain who are desperate to entice foreign buyers back into their housing market.

While applauding the principle and the intentions of the CROBECO scheme, though, there are a number of practical obstacles to it's implementation. As David Livingstone, CEO of MovetoBG.com points out, "At the immediate level, there are clear cost implications, here, for international legal services, translation and validation of information that will all have to be built into the purchase price. More importantly, though .." he continued ".. we need to understand how the scheme is actually going to reconcile the structural and constitutional differences between property purchase, title and ownership in different countries."

Related Articles:
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New cash payment law implemented with no problems

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Brits Searching for Bargains in Bulgaria's Property Market

Bulgaria remains one of the more popular countries for overseas British buyers even though the number of online searches in February for Bulgarian Real Estate was slighly down on the previous month. Bulgaria has dropped just one spot to number fourteen in a new ranking of property markets which remain popular for foreign buyers, according to the latest figures from Rightmove Overseas and Moneycorp.

The Bulgarian market attracted 1.24% of the searches for properties abroad at Rightmove Overseas in February, down over January when enquiries soared by almost 53%.

In the February search tables, Spain continued to top the league, followed by France, the US and Australia. Germany, France, Italy and Ireland saw the biggest spikes, as prospective investors looked for bargains or sought to capitalise on the stability in Germany, according to Rightmove's Robin Wilson.

David Kerns, private client dealing manager at Moneycorp, said it is unsurprising that Germany is rising up the ranks of popular countries for Britons ... "the fact that Germany, with stable housing and jobs markets, is seen as a crutch for many of the other Eurozone countriesis is a strong draw for many people in the UK looking for prospects overseas." he explained.

At the other end of the scale, property markets that have fallen in countries such as Bulgaria, where house prices are now at their lowest for many years, are becoming attractive again for people looking for a bargain. Commenting on the recent Ten Year Review of the Property Market from Bulgarian Properties, MovetoBG.com has confirmed the finding from the report's author, Polina Stoikova, that the past two year's price falls in Bulgaria are now levelling out and that 2011 should be the year that the market moves from negative into positive territory.

Owning a second home abroad was once the preserve of the super-wealthy, but in the past decade a heady combination of TV property shows and cheap mortgages convinced an estimated half a million Britons to buy their own place in the sun. the overall value of UK-owned foreign property investments peaked at £58 billion in 2008, up from around £10 billion in 2000.

More recently, though, the global recession has brought about a double hit .. British investment demand for overseas properties dropped away and, at the same time, British owners of second homes have been selling up due to falling rental income and concerns about sterling and the UK economy. The number of Britons who put their properties in Bulgaria up for sale rose sharply in 2008 and 2009 but data for 2010 shows that these trends have bottomed out .. a pattern that is now confirmed by the latest Rightmove's Overseas Search report .

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

Attractive Discounts for Property Investors in Bulgaria

According to the emigration and property website, BulgariaGateway.net, the Bulgarian property market is now well worth a second look from potential investors. Experts have stated that the European destination is ripe for investment, with the opportunity for some bargain real estate to be purchased.

Currently, the areas of greatest potential are smaller towns and developed villages in the countryside. Properties here seem to be cheaper than those in cities or coastal towns, but aren’t necessarily rural or too small. Many buyers are attracted by the comforts of friendly, welcoming neighbours, the local culture and the benefits of living so close to nature, but within easy travelling distance of a nearby town.

The website's Property Purchase section points out that potential buyers can currently take advantage of re-sales within the country, which can offer discounts of up to 40 to 50 per cent on properties that have already been renovated. In addition, investors are advised to take their time in looking around and conducting necessary research into popular regions before making their property purchase decisions.

Buyers can take comfort in the fact that, despite the country suffering an economic setback after the recession, financial stability is growing daily and it is expected that Bulgaria will join the Eurozone by 2013. This not only offers reassurance in the country's infrastructure, but also that the economy will continue to strengthen with rising salaries, improved standards of living, employment opportunities and increasing business and consumer confidence.

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