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Bulgaria: Property and Living News

Considering emigrating to Bulgaria? You are not alone. Some 60,000 Brits own a property in Bulgaria with numbers expected to grow due to the availability of cheap property and low cost of living. Latest research shows that over 350,000 Britons are planning to leave the country in the coming year and that more than half want to buy abroad. Low property prices and cheap living are cited as the main reasons. Apart from a fantastic summer, Bulgaria is one of the EU countries which has managed to withstand much of the current financial crisis. Nonethless, it has not been totally resilient and today property prices for apartments and village houses are extremely realistic and sustainable.


In their recently published data for 2009, Colliers highlighted some key factors:

· monthly salaries increased by 3% in Q1 2009
· year-on-year inflation in May 2009 fell to 3.9% from a high of 7.8%
· property sale prices fell by an average of 10%

... all making Bulgaria very good value. Colliers also believe that residential property prices will start to recover in the first quarter of 2010. In essence, Bulgaria is one of the few EU countries which can offer value for money property and lifestyle, offering a comfortable financial position for those living in the country, stable employment opportunities and rising incomes.

Romanians

Novinite reports that Romanians are buying property in Bulgaria in large numbers. They say this data comes from Adrian Sischin, regional director of the RE/MAX Romania real estate agency, who states that many affluent Romanians are taking the opportunity of low real estate prices in the country. The Romanian purchasers are, in the main, looking for holiday proeprty on the Black Sea coast near Varna and north of the city.

Luxury hotel

General Hotels Management who design and develop exclusive, chich hotels worldwide are on an expansion course, including Bulgaria. Started some 17 years ago their current portfolio consists of fourteen properties across nine countries but will be expanding to 23 hotels during the coming three years. "We choose only to get involved with properties where the owners truly share our vision and are willing to make the necessary commitment to work with us and create a stunning property that is the best of its kind in the destination it serves," said GHM's Director and President, Hans Jenni.

GHM are renown for creating hotels with a unique identity combined with excellent design based upon a strong local architectural element. Top level service always goes with their package for a great holiday experience.

Their project for Bulgaria is The Chedi, Thracian Cliffs, Cape Kaliakra on the northern Black Sea coast.

The first truly luxury resort to open in Bulgaria, The Chedi at Thracian Cliffs will set new standards of service and design in this fast emerging leisure travel destination. Comprising 60 suites and with a full range of guest services and amenities, the resort will feature a contemporary Asian design with elements of the ancient Thracian culture creating a distinctive sense of place in the GHM style.

Top ten property destination

Property Abroad has announced their results for the most popular property searches on their site. America has reclaimed number one position from Spain, which falls to second spot.

Egypt and Canada which had only just come into the top ten the previous month were changed for Bulgaria and India. Whilst Bulgaria had lost some of its popularity, it is now clawing this back.

All inclusive holidays on the agenda

Thomas Cook has added Bulgaria to its brand new all-inclusive brochure for 2009/2010. The brochure is featuring the Duni Royal Resort, Marina Beach Hotel - four star holiday destination. The company cites increased demand, according to Richard Calvert, tour operations director, who said “Over the last year, demand for our all-inclusive holidays has continued to rise and now accounts for more summer bookings than ever before."

Full time at schools?

The Standart meanwhile suggests that the Ministry of Education is planning launching full day school in the next two years. Parents of children in Bulgaria will be well aware of the current "shift" system, meaning that most school children in the country only attend for limited hours. This has made life for those full time working parents extremely difficult. In an interview for Standard, Diana Parvanova, who is the headmistress of a school in Razgrad which has already introduced a full day for school kids said "The parents, teachers and children are content. Mothers are not worried where their children are, the teachers are sure the lessons are well learnt and children return home without the usual stress. I support the idea. Going to school should be like going to work  from 9am to 5pm. I am against lessons starting at 7.15 in the morning. Today a child living 20km away from school and his family have to get up at 5am every day. Such extremities are unnecessary and should be abandoned. Going to school in shifts must be ended."

British pensioners poorer than Bulgarians

In a recent EC survey, data has showed that Britain has the fourth highest level of poverty amongst pensioners in the EU, even lower than in Bulgaria. One in three were found to be living below the national average. Age Concern and Help the Aged said the results were shocking and blamed surging food and fuel price hikes.

Bulgaria Flights

New flights to Bulgaria have been announced from Norwich airport in the UK.

Norwich International Airport will be running flights to Bourgas starting next summer. Holidays to Bulgaria are now available through Balkan Holidays starting mid July next year. With Bulgaria experiencing increased popularity, demand for flights has also been increasing. Flights will be at 08.30 in the morning. "Bulgaria offers a very affordable European holiday with everything the British holidaymaker looks for. The cost of living there is very low and shopping and dining in top restaurants in very inexpensive. A perfect solution for a low-cost family holiday abroad," said Elliott Summers,MD of Norwich Airport.

Bulgaria is cheapest

The British pound might be on the rise but those holidaying abroad are still facing mounting costs for their beach or ski holiday. According to the Post Office Travel Services barometer, almost half of UK tourists are looking to slash holiday costs by eating out less or cutting out sightseeing. Those taking a family overseas would pay more than twice as much for six beach items in Greece compared with Bulgaria. For those looking for something to do at a cheap price, the Post Office highlights the chairlift ride up Bulgaria's Blue Mountains on the edge of Sliven, which is less than 10 pounds for the whole family. Anyone wanting to take time out of the kitchen and eat out would do well to holiday in Bulgaria. The Post Office found that a family meal costs about 57 pounds in Brighton - a family meal would be only 25 pounds here!

For more information about the cost of living in Bulgaria, read our full and up to date article Cost of Living in Bulgaria 2009