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Investing in Burgas

More sunshine, high temperatures, warm seas, small towns, good property prices and individual beaches are making the southern Black Sea coast of Bulgaria more and more attractive to property buyers and investors.

 

With more than 2.5 million foreign tourists expected this summer (2013) in the Burgas region alone, it is this kind of development in tourism which will lead to better services and infrastructure for the southern Black Sea coast, further increasing its already high popularity with property purchasers.

The first tourists usually arrive in early April, as this southern end of the coast has milder weather, offering a longer rental season for investors.

Low cost fights are available from the UK to Burgas airport with Wizz Air flying from London. EasyJet are also flying from Manchester to Sofia, where you can hop on an internal flight to Bourgas.

Economics
In terms of economic potential, Burgas ranks highly. The reason for this good potential is
- favourable geographic location
- several international trade partnerships
- well developed transport infrastructure
- climate suitable for agriculture, viticulture and tourism
- suitable for spa tourism and balneotherapy


Characteristics
The main characteristics of this area are small towns and beaches. There are numerous individual small beaches separated by rocky peninsulas jutting into the sea.

This creates deep bays with incredibly clear water also protecting the beaches from cold winds during the winter months ... making this area extremely suitable for all year round tourism.

Towns in this southern region of the coast tend to be smaller and quieter, often offering more affordable property. However, as this area rapidly develops, prices are rising in line with the trend of most of the market but are still usually lower than around the Varna area. Apart from the prices, the sea here is generally 1 to 3 degrees warmer than in the northern part of the coast and the region also offers a longer period during the year of temperatures over 20 degrees C.

Although building is going on at quite a pace and infrastructure improving all the time, most of the local authorities in this region are very anxious to avoid over-building and over-crowding of the area

There is a wide choice of property available, from off plan right on the coast, through land plots with great views to build your own dream house, to run-down rural houses for renovation away from the coastline. As ever, those properties just that bit inland are significantly cheaper than front line seaside ones.

Rentals
Burgas is a real favourite, not only with locals, but also with an increasing number of Russian, Romanian and Scandinavian tourists.

With its universities and some 7000 students in the city, it is a haven for rentals. Average rents for a studio are from 150 euros to 350 euros a month in the centre. A two bed apartment would be from 250 euros.

One of the main factors contributing to the growth of the property market in the Burgas area is the geographic location of the city which means it is a sought after area for international companies to establish themselves. As business and commercial buildings grow and businesses move in, rental demand remains high. Despite increased construction, the property market maintains its growth, not only in town but in surrounding towns and villages.


Where to buy
Asking the agents who specialise in this area where are the property hotspots and the answer always seems to come back the same - ‘the whole of it!’

Apart from the obvious spot of Sunny Beach and leaving aside the towns of Burgas and Nessebur, here’s a brief run-down of the key property buying areas, starting at Sozopol and going south:

Sozopol with its old town and ambience is fast becoming a main target for property purchases. Prices are lower than Varna and it is still possible to find property at affordable prices. The off plan developments here tend to be smaller. There are some lovely developments on the cliffs with stunning views reminiscent of Italy.


Duni holiday village is a recent resort complex, set along a beautiful beach of around 4.5 kms. The resort consists of three originally designed main zones ... forming separate architectural ensembles with their own characteristic style and atmosphere.

Heading south from here the coastline becomes even more beautiful. The forests of the Strandzha mountain are close to the sea here and provides an extraordinary area of forest and sea for investment.

South of this is Stomoplo. This coastline is better known as the northern beach of Primorsko resort. Here is a 2,300m long beach, nice and wide with sand dunes. Primorsko and Kiten (a little gem) have become well known beach resorts and are popular with property buyers.

South of the small peninsula where Kiten is situated, can be seen the magnificent Atliman Bay.

From this point, again heading south, there are beautiful untouched small beaches: Karaagach, Lozen, Gochov Ergek, Popadiiski, Tzarevo, Varvaski and Ahtopol. These are being discovered more and more with purchasers, yet prices remain very favourable and affordable.

Right at the southern end now, you’ll find the villages of Sinemorets and Rezovo (right on the border with Turkey). Sinemorets village was part of the restricted border area when Bulgaria was under communist rule. No access was allowed to outsiders but this rule has now been abolished and it has become very attractive to wealthy Bulgarians who have both bought land and built large villas here.

Photographs: Nenko Lazarov www.imagesfrombulgaria.com