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It Makes Sense to Buy in Bulgaria

Bulgaria's property prices started from the lowest point of any EU country. Even with much hype and prices rising more than 30% per annum for several years, property in the country remains extremely good value. Today, with stable prices which are still very low, and slightly decreasing in the last quarter of 2008, buying in Bulgaria is a sound property investment. For investors the infrastructure programme, worth billions of euros, is important news, as this will no doubt lead to a resurgence of the Bulgarian property market.




Infrastructure projects

Mainly aimed at roads, railways and transport; schools, water management and health care.

Bulgaria is continuing apace with infrastructure projects across the country. The majority of these projects are being funded via financing from EU structural funds. The Transport Operational Programme 2007 to 2013, aimed to subsidise key projects to upgrade Bulgaria's roads and railways, is one of the ways the country will access finance. This programme includes more than a dozen projects and alone has a budget of over two billion euros.

The amount earmarked for the development of the railway infrastructure along the trans-European and key national routes in Bulgaria is 580 million euros. Close to one billion euros will go to construction of large fast highways and to upgrading the road network.

Priority for 2009 will go to the completion of Struma Highway (part of trans-European corridor No. 4) and Maritza Highway to the Turkish border linking to the international E 80 route. A priority project for the railways is the modernisation of the railroad network to Svilengrad on the border with Turkey.

Transport Minister Petar Mutafchiev says, “This project will allow the completion of an up-to-date new infrastructure all the way through the Plovdiv-Svilengrad route. It will respond to all requirements that are crucial for the integration of Bulgaria’s railway system with the EU one.”

Construction of the second Danube bridge will continue. Lyulin Highway connecting the Sofia ring road with Strouma Highway is among priority projects too. The extension of the Sofia Underground will continue to progress, which should create a fast connection between the Central Railway Station and Sofia Airport. European investments into it amount to 185 million euros.

For further information of the application of EU funds for infrastructure projects in Bulgaria visit www.eufunds.bg/pages/news.php

What's on offer

Capital buzz
Ideal investment or buy to let opportunity in Sofia. Two bedroom flat for sale, freehold. The flat has two bathrooms, kitchen with dining area, living room, two bedrooms and two terraces - a total of 98 sq.m liveable area, and 3 sq.m basement

The flat is on the ninth floor with perfect views to Vitosha mountain and the Balkans. The property is in very good condition with oak parquet flooring in the living room and the bedrooms.

The surface in the corridors is Venetian marble mosaic. The flat is partly furnished with fitted kitchen and built in wardrobes and storage. There is parking space behind the building. 76,000 euros

Black Sea beauty
A newly built house in a picturesque village with a sea view. Conveniently located just 20 km north of Varna and in close proximity to Albena resort.

Suitable for holiday letting and permanent living. The 1st floor consists of a living area, a bathroom, a utility room and a verandah.

The 2nd floor consist of 3 bedrooms, a bathroom, a closet and two terraces with sea view. 95,000 euros

Regional town living
This newly built apartment is located in the city centre of Veliko Tarnovo close to wealth of  amenities.

It is south facing and provides 109 sq m living area plus a further 27 sq m common area of the block.

It comprises two furnished bedrooms, open plan fitted kitchen/dining/lounge, tiled bathroom and toilet, corridor and two terraces offering nice views of the town. The apartment is air-conditioned throughout and there are radiators installed for gas central heating. It comes with a basement of 4 sq m. 99,000 euros

Authentic style
Set in a protected authentic village this captivating old two storey house built in 1870 and renovated in 2006 has a total floor area of 120m2 and perfectly maintained gardens of 273m2.

The ground floor contains two connecting rooms with a fireplace, both of 30 sq.m, storage room. Internal wooden stairs lead to the first floor with a roomy entrance hall, three further rooms and a shower room with toilet. The house is traditionally clad in wood and all floors, ceilings and doors are wooden as well.. 76,990 eurozs

Country life
Rural. This magnificent new two storey house was built in 2000. It has with a total floor area of 100 sq.m and is surrounded by a lovely plot of land of 1,325 sq.m, with orchard and trellis vines.

On the ground floor an entrance hall, a dining room with a kitchen, a bathroom and a garage. Internal staircase leads to the first floor that contains an entrance hall, two rooms  and a balcony. 46,990 euros


With cheap property prices, enormous infrastrcture improvements gaining ground and low interest rates in the eurozone for mortgages, Bulgaria property buyers look set for a good long term investment.