Bulgaria,
located on the Balkan Peninsula in Sou-theast
Europe, is arguably the most stable country in
the region. The country has been spared the tur-moil
of unrest that most of it's neighbouring coun-tries
have went through on the road to establishing
democracies. The population of Bulgaria is appro-ximately
7.6 million.
Bulgaria is a country blessed with a great deal
of geographical diversification. Three mountain
ranges run through the country (Stara Planina-The
Balkans, The Pirin and the Rhodophi) offering
skiing in the winter. The Black Sea borders the
country to the east, with 354 kilometres (218
miles) of coast line. The climate on the coast
is warm and dry in the summer, making Bulgaria's
Black Sea coast a favo-urite holiday destination
for many Eastern Europe-ans for the past 35 years.
In the 1980's, many We-stern Europeans began to
discover the Bulgarian coast as a holiday destination.
The average tempe-rature of the Sea along the
south coast is 25 C (77 F) in July and August.
In 2001, a new government was elected by the
peo-ple of Bulgaria, the NMS2, which is headed
by the former King of Bulgaria, Simeon II, who
was exiled in Spain at the age of six. Under the
NMS2 govern-ment, Bulgaria has made great strides
on the road European integration. The target date
for Bulgaria to join NATO is 2004, while December
2007 is the target date for integration into the
European Union. In 1999, the Bulgarian currency,
the Lev, was tied to the German Mark, and subsequently
the Euro. This has helped stabilise the Bulgarian
currency and improve the economic conditions in
the country.
Why Bulgaria ?
We at Sun Coast Villas Ltd. realise that many
of you may not be that familiar with Bulgaria
and wonder "Why would anybody want to invest there?"
We therefore decided to put this question to
ourselves and local agents in the real estate
market. The following is a "short list" of why
an investor should invest in Bulgaria.
. Relatively inexpensive property in comparison
to other holiday resort areas in Europe.
. Steadily rising property prices- Property prices
raised an average of 20% last year alone in Bulgaria,
with higher escalation along the coastal areas
and in the mountain regions.
. Bulgaria has one of the least expensive costs
of living in all of Europe.
. Bulgaria is blessed with a great deal of geographical
diversification- many fine sandy "blue flag" beaches
on the coast with skiing in the mountains in the
winter.
. Bulgaria has a history dating back over 7 millenniums,
giving the country a great deal of cultural heritage.
. Bulgaria has a pleasant climate, with some
areas receiving over 300 sunny days per year.
The Black Sea Coast averages over 1,700 hour of
sun during the tourist season.
. Bulgaria abounds with a wealth of natural mineral
springs and organically grown produce. Many of
the foods are raised naturally, since commercial
farming is not widespread in Bulgaria.
. Bulgaria is close- Bulgaria is in Europe so
naturally it is within 3 hours or less from the
United Kingdom, Holland and Germany. Some companies
offer charter flights directly to the coastal
areas.
. Bulgaria is stable- Bulgaria has been undoubtedly
the most stable country in SE Europe. While surrounding
countries have suffered through wars and civil
unrest, Bulgaria has remained peaceful.
. Bulgaria joined NATO in 2004 and is set to
join the EU in 2007.
. Bulgaria is financially stable. - In 1999 the
Bulgarian currency was tied to the German mark
and subsequently the Euro, stabilising the currency
and allowing for economic growth.
. Property investments in nice resorts are expected
to return and average of 10%-15% annually, before
tax.
. Property values are expected to rise between
10%-15% per year for the foreseeable future.
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