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Cheap, Cheerful: Low Cost Bulgarian Property

how much is cheap?When the media highlighted Bulgaria as Europe’s leading property hot spot five years ago, hordes of property hungry small investors flocked here to buy up as much cheap property as they could afford. Those who bought early on often doubled their money by reselling as the market continued to rise, others decided to renovate their Bulgarian properties and then resell for an even greater profit, whilst some never quite formulated a distinct strategy and just hung on to the property.

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Property Hot Spot, Spa Towns

bulgarian property hot spot, spa townsThe need to relax and pamper oneself has grown tremendously with most Western European nations offering a range of spa facilities, yet few have the vast natural mineral resources which Bulgaria has to offer. Property in spa towns and areas close by is increasing in popularity.

Bulgaria owns over a thousand mineral springs and the water content in many of them is as good, if not better than that of world-famous spas like Baden-Baden and Vichy.

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Bulgarian Property Under 90,000 euros

bulgaria property still cheapBulgarian property is cheap compared with western Europe but what can you actually get for under 90,000 euros? For this money in the UK, approximately 70,000 pounds, the choice is extremely limited mostly offering mobile homes, terraced properties in poor locations in the north of England, or apartments in city centres. In Bulgaria for less than 30,000 euros you'll still find plenty of old houses and bargains which need a thorough "doing up", but they usually have no inside toilets and some are even without running water! Most people these days however prefer to buy a Bulgarian property, which is ready to move into or only needs minor modernisation or redecoration.

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The Russians are Coming

bulgaria's no. 1 property investorsBack in 1878, the Russian army crossed the border into Ottoman - controlled Bulgaria and defeated the Turkish army after 500 years under the Ottoman yoke. They were met with open arms and this single act strengthened the deep bond between the two countries. After the Second World War, Bulgaria threw its lot in with the Soviets and became part of the Eastern bloc. So close was the relationship, that Bulgaria asked to become the 14th state of the Soviet Union. Today the Russians are exerting another type of influence and support over Bulgaria; Russian buyers of Bulgaria property are now the largest group of foreign investors here, but what motivates them to buy?

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Buy Land and Cash in on Profits

demand for land soarsWith shaky stock markets across the globe, more and more investors are looking to buy tracts of land with and without planning permission in emerging markets and in particular in Bulgaria, where agricultural land prices alone are twice as low as the rest of the Eastern bloc. Even more surprising given the economic situation, is the fact that agricultural land in the UK and USA has shown significant gains in recent months.
As holiday resorts and cities in Bulgaria see stabilization in demand from real estate buyers, an increasing number of private and institutional investors are turning their attention towards agricultural and regulated land.

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Long Term and Corporate Lets

create a wow factorMany buyers are looking to purchase a Bulgarian property which is suitable to rent on a long term basis or is suitable for corporate renters. We take a look at how to succeed in renting your home to these tenants. The first step is to make life as easy as possible for yourself and buy the right property.

It doesn't really matter if the bedrooms are on the small side but you should look for a good size living room. A key factor for tenants is having an en-suite bathroom to the main bedroom.

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Buying Strategy

Buying Property in Bulgaria and the credit crunchYou could be forgiven for thinking that anyone considering buying a Bulgarian property now is a little mad. If you look at it more carefully though, purchasing an overseas property right now is a good time. Not to make a quick return but to actually buy the property in Bulgaria which you want, in a country with wonderful climate and an amazingly low cost of living. In today's current financial situation, the real question is whether you can afford it.

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Panic, Panic, the Credit Crunch is Here

bulgarian property and the credit crunchIt will take a long time to sort out this horrible financial mess and work out what damage has been done to the global property markets. Originating in the USA, with their reckless financial activities, it has now impacted everywhere. The impact is most likely going to be particularly hard felt on the property markets which relied too much on slapdash cheap credit, and masses of it. But what about Bulgaria?

It is interesting to note that this crisis is bringing a dose of reality to the world - that one cannot permanently live on credit nor beyond one's means.

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Buying an Apartment in Bulgaria

lots of choiceThe rate of construction in Bulgaria is phenomenal. Everywhere you look somebody is building shopping malls, DIY stores, hotels, houses and more commonly, apartment blocks. Buying an apartment property in Bulgaria is straightforward, hassle-free and still represents great value when compared with other parts of Europe. You don’t need to own a company or be resident here and for off plan builds you can take advantage of easy stage payments. But with so many to choose from do apartments still offer good investment potential?



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We Bought Off Plan!

buying bulgarian property off planThe rising cost of holidays overseas coupled with the need to escape the UK’s dull climate encouraged Redcar couple Don and Michelle Gibbs to hunt for a holiday home abroad. After Michelle’s extensive internet research across Europe and in particular Spain, the couple turned their focus to Bulgaria, a country they had never visited.

What attracted them was Bulgaria’s extremely low property prices coupled with pictures of its stunning rural scenery and close proximity to the coast.

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