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Bulgarian Real Estate Investment |
by:
surrinder Ahitan |
A great deal of attention has been paid to properties for sale in Bulgaria in the major urban areas in that country. In addition, the growth of property investment in Bulgaria in resort communities -- particularly in the mountainous regions of the country and around the Black Sea -- has been phenomenal in the past few years. However, when it comes to property investment in Bulgaria in some of the more rural areas of the country, people have been a bit slower on the uptake, perhaps a bit reluctant to put money into buying real estate in rural areas.
In point of fact, if you are interested in properties for sale in Bulgaria, you would be well served in taking a close look at the rural parts of the country. (Indeed, Bulgaria -- with a population of just at 8 million souls -- remains a largely rural country.)
Perhaps the primary reason that you will want to consider property investment in Bulgaria in the rural part of the country rests in the reality that tourism is expected to increase markedly when Bulgaria becomes a part of the European Union in 2007.
For generations, Bulgaria has been a popular holiday destination for men and women who are residents of some of the other Eastern European countries. These holiday travelers flocked to the Black Sea resorts by the thousands annually. (As mentioned, properties for sale in Bulgaria in the resort communities have been very buoyant recently.)
With the opening of the borders that will accompany admission into the European Union, Bulgaria will experience an even more significant influx of holiday travelers in the future. A good number of these people will be interested in touring Bulgaria, including visiting some of the interesting and historic destinations in the more rural parts of the country. Thus, a person with the foresight of taking advantage of property investment in Bulgaria will be in a position to profit from the increase in tourism that is anticipated in all sectors of the country.
In addition to seeking out a Bulgarian property for sale for personal or family use, there are a number of people who are interested in finding a Bulgaria house for sale for investment purposes. In other words, these people want to purchase a Bulgarian property for sale, hold on to the property for a moderate amount of time (perhaps leasing it out during the period of ownership) and then they desire to sell the residence for a profit.
In point of fact, some people are able to make good money through the process of making the purchase of a Bulgarian property and then reselling the property after the passage of a reasonable period of time.
The overall Bulgarian real estate market has become increasingly attractive for investors in all sectors -- industrial, commercial and residential. Indeed, when it comes to a Bulgarian property for sale, housing prices on average in the country are rising at a rate of about twenty to twenty-five percent per year. Therefore, if a person were to make the purchase of a Bulgarian property with the intention of holding for ultimate resell, he or she likely will make tidy profit in a short amount of time.
In the immediate future, the Bulgarian real estate market is expected to remain hot and vital. This includes the sector of the market that includes the proverbial "Bulgaria property for sale." Residential property is expected to increase in value at the present rate through at least the end of the decade according to most financial analysts involved in Bulgarian economy.
Many people who are considering the possibility of buying one or another home in Bulgaria worry about what they might end up paying in taxes on real estate that they might end up owing. In years gone by, one of the reasons that only a fraction of the population was able to take advantage houses in Bulgaria centered on the high taxes that often times were associated with home ownership in that country.
With the changes in government that have occurred in Bulgaria since the 1990s, significant land reform programs have been put in place throughout the country. The pace of these reforms quickened when it was determined that Bulgaria would be admitted into the European Union in 2007. The net result has been that property taxes no longer need be considered an impediment to the ownership of homes in Bulgaria.
In point of fact, at the present time, Bulgaria boosts one of the lowest real estate tax schemes of any of the countries in Europe -- including those nations that already enjoy full membership status in the EU. It is important to keep in mind that prior laws that imposed a heavy tax burden on foreign nationals who purchased homes in Bulgaria have been eliminated in their entirety.
In addition to low real estate taxes, the government in Bulgaria has enacted other pieces of legislation that are designed to encourage private home ownership amongst the people of Bulgaria, further spurring the demand for houses for sale in Bulgaria. The government of Bulgaria is committed to furthering and advancing real estate investment generally and home ownership specifically throughout the country.
To that end, the government has lessened the tax burden on those who own real estate and has modernized the banking system to make real estate loans far more widely available to people interested in property ownership in the country, including the buying and owning homes in Bulgaria.
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