Double profit from properties in Bulgarian capital- Sofia

At present the profit in a close complex in Sofia varies around 8%. The average value of sales is approx. 112 000 Eur.

For similar property on the sea, clients pay about 47 000 Eur while in the mountains – 90 000 Eur. Very few Bulgarians invest in homes in such luxurious complexes. If they have the financial resources, Bulgarian citizens prefer houses in the southern parts of the capital. During 2006, 29 % of the properties sold in our country are purchased by foreigners. Brits are the most –67 %. The English people prefer to buy vacation villas at the price of 30 000 – 80 000 Eur while the Irish -  from 50 000 Eur to 100 000 Eur. The Irish and English invest mostly in our ski resorts.

During last year 29 of 100 or 90 190 from the finalized 300 000 property deals have been performed with foreign participation. The English people hold the greatest share of the purchased properties in Bulgaria. With British participation, 60 300 property deals have been finalized. 12 % are the Irish. During first months of the year they have brought properties at the average value of 84 942 Eur, which is about 12 % higher from the average value of the properties sold in 2006.

The English clients buy properties in our clients mostly with the aim of investment .The leading factor for them is the price of the property. That is why they usually choose studio or one- bedroom apartment in more popular resorts.

The Irish clients prefer apartments on the coast or in the mountains, mostly for their own usage. These are mainly apartments with one or two bedrooms.

Despite the lack of snow and the relatively poor season, property owners in ski resorts earn profitability of about 6 %.Exactly this is what continues to attract foreign investors to Bulgarian ski centers .During last year about 40 of 100 from the enquiries were for buying properties in our mountain resorts. From the beginning of this year about 43 of 100 from the buyers’ requests from foreign countries are directed towards ski centers.

Winter resorts attract new groups of buyers, unknown for Bulgarian market till now. During last months Bansko and Pamporovo are hit among rich Spanish and Maltese people.

The experts’ expectations are that after active popularization of Bulgaria as an investment destination 20 % of the property market will be occupied by them. Spanish and Maltese clients wish to purchase a property in the initial phase of its presentation on the market. They are also interested in parcels with building permission. They show similar interest in both sea and ski properties as they know the processes of the market development from what have happened in the their own countries before 10 years   . They count on 15 % annual height in prices plus 5% profit from rentals  oncethe property is finishes and fully furnished.

Danish clients are more skeptical and usually they demand for more information about the investor himself. According to statistics of  ICB properties LTD” in 2006  the interest of the Western investors towards the  sea resorts have been 31 %  as from the beginning of this year it is on a level of 25%.During last year 8,11% from purchased properties by foreigners have been in the capital. From the beginning of this year their share is 8,62 %. The increasing interest of Western people towards Sofia properties is due to the high profitability.Spanish and Italians, who invest mainly with speculative aim, show more interest in the capital. They buy a hundred apartments off plan and after that resell them with profit.On all aspects of investing in Bulgarian properties visit our website for a huge resource of articles and  the largest and most diverse selection of quality propertiesin Bulgariaat  www.ICBproperties.com