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Making a Watertight Property Investment

It’s April and there is still no real signs of a glorious hot summer in the UK, in fact it looks more likely to be a rerun of last summer with about two weeks of genuine hot weather and the rest of the season full of unpredictable days, sometimes freezing, sometimes rainy and sometimes hot again. Under such conditions, it’s impossible to plan garden parties, or invite friends round to dine al fresco. It’s depressing to say the least, yet these brutal conditions synonymous with the UK climate fuel sparks of creativity in our old grey matter and more and more of us are planning escape routes from dreary old Blighty.

Number of UK Overseas Homeowners Still Growing

Today, around 800,000 UK households own property overseas. The figure has increased at a staggering rate by around 45% in just two years and analysts predict that the figure will exceed two million households by 2025. Additionally 1 in 8 people over 55 is expected to emigrate from the UK in 2010. A survey by research analysts Mintel highlighted the reasons why Britons opted to buy overseas and found that the two largest groups were the “sun worshippers” and “property speculators” both of which accounted for 62% of those interviewed with an equal 50:50 split. “Multi-purpose investors” i.e. those savvy business people who invest in areas they perceive will make them money accounted for 22%, whilst “'retirement investors” made up the remaining 16%. A poll conducted by British building society Alliance & Leicester International (ALIL) found that the sun-seeker group accounted for 50% of those interviewed in their recent survey. Expats who had chosen to live abroad permanently rated standard of living and safety as their joint second favourites. A slower pace of life was rated in third place. The biggest downfall of moving was the fact that more than half of the expats interviewed missed their family.

New Start Bulgaria

If you are disillusioned with life in the country you live in or would like to at least have an overseas bolt hole to escape to now and again, then it is worth considering investing in Bulgaria. It offers a fantastic climate made up of four distinct seasons so the weather never becomes unbearable or too much of the same thing. It also has the lowest cost of living in Europe with a loaf of bread costing 90 Stotinki, a meal for two anything from 7 lv. and a packets of cigarettes 2.40 lv. More importantly it also offers a safe environment and excellent education system and a relaxed pace of life. What is more, property prices are still the lowest in Europe, even in the capital and since the emergence of the global financial crisis prices have fallen to 2007 levels making it an excellent time to buy. Bulgaria as a country has undergone some significant positive changes over the last five years. This has lead to substantial economic growth and increased foreign investment; many people who bought land and property here over the last five years have seen double digit growth on their money and despite the credit crisis, the long term outlook for a return on investment still looks good. Of course the recent instability within the financial markets has had a devastating effect on the UK property market making it a little more difficult to just sell up and go, but the UK rental market is very strong and renting out your UK property is one solution to getting away from it all and paying off the mortgage.

Become a Savvy Investor

The ‘pioneers’ who came over to Bulgaria over five years ago, when the property boom was starting, were often buying blind. Small investments overseas were a new phenomenon amongst the masses but there was little useful information to help people to buy sensibly in Bulgaria. The TV programmes jumped on the second home bandwagon as did the press, but their advice covered so many markets and was not always appropriate to Bulgaria. Today all of that has changed! There is a wealth of useful and powerful information on Quest Bulgaria alone as well as on many other property investment sites on the internet. Use this information to research and choose the investment that best suits your short term and long term needs.