The Republic of Bulgaria

Bulgaria is located in southeastern Europe. Situated in the east-central portion of the Balkan Peninsula, bordering the Black Sea. Covering an area of 42,823 square miles and is almost rectangular in shape. Its position making it a natural crossroad between Europe and Asia.

It became a communist country at the end of World War II but communist domination ended in 1990. Bulgaria joined NATO in 2004 and is set to join the European Union on January 1, 2007.

Foreign Interest in Bulgarian Property

Foreigners, especially the British, have shown a special interest in Bulgarian property. There are two main reasons for this ever increasing interest. The first reason is the country's climate and natural surroundings. The second reason is more obviously, the low cost of living in comparison to Western Europe.

Overseas buyers can generally be classified into three groups: those looking to purchase a second or permanent home; those looking for a holiday home with the option of renting it out (buy to let); and those purchasing for purely business purposes for renovate and resell (speculative purchase). Purchase trends show that most buyers are interested in Bulgarian property for sale in the rural areas or apartments situated in popular beach or mountain resorts.

The Bulgarian Property Market

Bulgarian property is extremely good value and foreign investors may stand to profit substantially. In recent years, foreign capital has been a major component in the Bulgarian real estate boom. Although there are admittedly other factors causing the boom such as the low interest rates, the continuous and intensifying flow of capital deserves the bulk of the credit.

The interest in property in Bulgaria is steadily increasing and is expected to further increase as the impending acceptance of Bulgaria in the European Economic Community draws near. According to a Wall Street Journal report, Bulgaria registered the highest rise in its real estate prices (more than in any other country) with a staggering jump of 48 percent.

Property developers believe that the peak is yet to come as there are still many undiscovered places of beauty in Bulgaria as well as untouched property ready to make it