Bulgarian Real Estate – The Growth Continues

Figures from the National Statistical Institute indicated
that the average prices of flats in the Regional capitals
of Bulgaria have shown a rise of over 36% in 2005.

The prices of flats in the capital of Sofia saw the
highest rise of 20.2% with prices averaging 1,222.4
leva/sqm. The highest percentage of growth was registered
in Vratsa, where the prices of flats rose by an astounding
86.1% and prices are at 464.8 leva/sqm.

Other areas of growth for the same period include:

Yambol up 72.1 per cent to 513.6 leva/sqm
Silistra up 70.1 per cent to 406.5 leva/sqm
Varna up 25.6% to 1,198.1 leva/sqm
Bourgas up 46.2% to 1,126.5 leva/sqm

* * *

Sofia Olympic Bid Gathers Momentum

In a move which signals the determination to put Bulgaria
on the tourist map and commit to major infrastructure
improvements, the government has confirmed its support for
the Bulgarian capital to host the 2014 Winter Olympics.

"We should be aware that the road ahead is long and
difficult. Achieving the aim will be good not just for the
development of the Olympic ideal, but for the development
of winter sports and
winter tourism in Bulgaria as a top priority of the
economy as well," Prime Minister Sergei Stanishev said.

The first stage in the process concludes in June 2006 when
the number of competing cities is narrowed down to four.
These cities will then continue the bidding process right
up until June 2007 when the winning city is named.

Major highway projects will be given priority as the State
and Sofia Municipality, along with the Bulgarian business
community work together to ensure the best possible
outcome of their bid. Winter tourism will also greatly
benefit as a result of a successful bid.

* * *

EU Integration

This week saw the arrival of European Commission Vice
President Franco Frattini in Bulgaria. Frattini met with
the Prime minister and many other government ministers
along with Justice Minister Petkanov and senior judiciary
members.

Items up for discussion included judicial reform, the
suppression of human trafficking, corruption and the
strengthening of the future EU external borders. All are
seen as areas of concern and part of the EU accession
process, with EU membership expected in 2007.

* * *

Brits Invest and Holiday in Bulgaria in Record Numbers

The British have been heading to Bulgaria in record
numbers. The country is not only proving more and more
popular as a destination for British holiday makers but
many are also buying investment properties and holiday
homes in the country.

James Knight, Managing Director of leading property
specialist Knight International
(http://www.knight-intl.com), has predicted that 1.2
million British tourists will probably choose to visit
Bulgaria for a holiday in 2008.

In 2002 there were 100,000 Brits travelling to Bulgaria
for a holiday. This number has risen heavily each year and
was up to 400,000 for last year, 2005.

Knight cites that Brits now know a lot more about Bulgaria
and the country is now seen as been within their "comfort
zone" for holiday destinations, along with other countries
such as Italy, France and Spain.

The cost of a holiday is also vastly less than that of a
similar holiday in France or Spain due to the lower cost
of living. There is also an impetus on the expansion work
been carried out at airports such as Burgas and Varna to
allow the passage of an increasing number of tourists.
Low-cost airlines are also doing their bit with more
flights than ever in and out of the country. The
completion of construction work at the airports will open
the market to more low-cost carriers resulting in greater
competition, lower prices and improved flexibility for the
traveller.

On the property front, the number of Brits buying second
homes in Bulgaria has risen 77% in 2005. Alex Wright,
director of British Consultancy Company HIFX comments
"Although France and Spain remain the most popular
destinations to buy abroad, due to their proximity and the
cheap price of travel; British citizens are starting to
look further a field,"

He adds "Bulgaria also is booming and the Black Sea
resorts are reminiscent of Spain 20 years ago; investors
are buying in their droves and there is similar activity
in some of the ski resorts.

While Spain accounts for 35% Brits homes overseas and
France accounting for 24%, interest in second homes in
these countries is declining and the going to other
countries such as Dubai and Bulgaria where buyers can get
more for their money.

The Best Beach Resorts in Bulgaria

The Best Beach Resorts in Bulgaria by Marinova Marina

The Bulgarian Black sea coast is about 400 kilometers long
with large and small resorts. Sun-seekers have a wealth of
choices for accommodation. Most of the hotels are
privately run and maintain Western standards of health and
safety. Among the most popular resorts is the northern
Black Sea coast resort of Golden Sands, which has 61
hotels, many recently fully renovated.

The resort, 17 km north of Varna, is an attractive
combination of a calm and warm sea, forested slopes near
the beach, mineral springs and a tempting choice of good
quality restaurants. The area is famous for the purest
sand on the Black Sea coast.

Also on the northern Black Sea coast, very close to Golden
Sands, Riviera Holiday Club has six hotels located on the
beach in a nice and quite park.

Sunny Day tourist complex, 10 km north of Varna, has four
hotels ranging from five stars to two. The resort also has
two well-equipped spa health centres, with treatments from
mud baths to laser therapy to aromatherapy available.

Thirty km from Varna, Albena has a total of 14 900 beds in
43 hotels, ranging from two to four stars. Nestled in a
picturesque bay, the resort has a temperate climate and
boasts a wide sandy beach. Water sports, a children's
amusement park, and many fine restaurants complete the
picture.

On the southern Black Sea coast, Sunny Beach has more than
100 hotels, 2 campsites, over 130 restaurants, taverns
with folklore shows, bars with floor shows, night clubs,
casino, discos and cafes.

Sozopol, about 30 km south of Bourgas, has a smaller range
of hotels, with about 1,800 beds between them. Sozopol is
one of the oldest of Bulgaria's coastal towns. It is
founded in 610 BC by Miletian Greeks. Today, this charming
place is a popular tourist resort best known for its
casual ambience, sandy beaches and distinctive
nineteenth-century stone and wood houses.

Nessebur, named a UNESCO World Cultural Heritage site in
1983, draws about a million visitors annually, and its
narrow, historically venerable streets, are often choked
in mid-summer with tourists sampling its culinary delights
and shopping for memorabilia. The town, which dates back
about 9,000 years and is famed for its beautiful medieval
churches, has a competitive range of hotels and private
accommodation.

Buying process in Bulgaria

Our tOOur team in Bulgaria is available to assist English
– speaking buyers in person, showing properties, areas and
providing valuable information about the country and its
residential tourism market. We work with English-speaking
lawyers and leading banks to assist our clients during the
purchasing process, whose main characteristics can be
summarised as follows:

The total purchase cost should not exceed 5 %( including
lawyer's fees), except in the case of older and/or cheaper
properties.

Under Bulgarian law a foreigner cannot own land. If you
wish to buy land or a house with a plot you can circumvent
this law by forming a Bulgarian company through which you
can legally own the property. However, you do not need to
form a company to purchase an apartment.

We advise buyers to always use a lawyer

The purchase process consists of the following steps:
A reservation deposit is paid to hold the property –
usually 1,000 Euros.

If the property consists of land or an existing re-sale
property a Bulgarian company must be set up through which
it can be legally bought and owned.

An initial private purchase contract is signed (after
having been thoroughly checked by your lawyers) and an
initial payment is due – usually about 10% to 40%,
depending on whether it is a re-sale or off-plan property.

Stage payments are paid throughout the building process
for most off-plan property.

The Notary Act is then signed in front of a Bulgarian
notary. In the case of an off-plan development, the Notary
Act is signed once the building is completed.

The time scale of each of the steps depends upon the type
of sale. In the case of an off-plan development, the
preliminary contract is usually signed within weeks of the
reservation.

Bulgaria: hiring a car

The following guide to car rental in Bulgaria offers
information on six large rental firms. It's worth bearing
in mind that:

• Bulgarian provision for visitors is growing rapidly, and
there are many local car hire firms

• The data included here refers to winter 2005-6, and
seasonal variations are inevitable

• Though Bulgaria uses the cyrillic alphabet (it's like
Russian lettering), street signs in the major cities are
also printed in Roman letters (ie, using our alphabet)

This guide gives a brief overview of the big international
hire franchises, and introduces one or two of the smaller
operators. It will be a matter of personal choice for you:
staying with the big boys is probably safer and more
reliable – you know what you're getting. On the other
hand, the smaller outfits are generally cheaper, and can
provide many more service points – certainly inland.

WHERE TO PICK UP YOUR HIRE CAR

1. Airports

Bulgaria has three sizeable international airports, SOFIA,
the capital city, VARNA and BOURGAS, which both serve the
Black Sea Coast. All three are obvious and convenient
pick-up points. Hertz and Europcar have rental desks at
all three airports, Avis does not offer Bourgas. Moto
Roads and Sixt have pick up/drop off facilities at Sofia
and Bourgas.

2. Downtown or Resort Locations

SOFIA

Hertz offers two collection and drop-off points in
downtown Sofia: the Boulevard Vasil Levski and Rakovski
Street. Europcar has rental desks at the Central Hotel and
Kozloduy Street. Avis does not provide downtown locations.

BOURGAS

Europcar has rental desks at the Mirage Hotel, and at its
"Bourgas Downtown" location

HOLIDAY RESORTS CLOSE TO BOURGAS

Sveti Vlas

Europcar has two pick up/drop off points in the resort
village of Sveti Vlas, near Nessebar. These are the Briz
Complex Resort and the Laguna Hotel.

Sozopol

Hertz offers the Duni Holiday Club as a rental point.

Sunny Beach

The Iberostar Sunny Beach Hotel is the Hertz pick up/drop
off point.

THE MAJOR CAR HIRE OPERATORS

Hertz (http://www.hertz.com/rentacar)

Hertz provides an online booking service for the three
smallest vehicles on its list – the Daewoo Matiz (0.8),
the Seat Ibiza (1.0) and the Seat Cordoba (1.4). Daily
hire prices for these three are (in euros) as of December
2005: 85.40 for the Matiz, 93.40 for the Ibiza and 110.40
for the Cordoba. The six more expensive models, all with
air conditioning, do not have online prices quoted.
Vehicle types include Audi A4 and A6, Seat Alhambra and
Kia Sportage.

Avis (http://www.avis.com)

The Avis fleet is organised into eight categories. Prices
quoted here are for daily hire (in euros), as of December
2005:

A (Opel Corsa 1.0) 93.60
B (Opel Corsa 1.2) 98.40
C (Ford Focus 1.6) 123.60
D (Opel Astra 1.6) price not available
E (Toyota Avensis 1.6) 135.60
F (Opel Vectra 1.8) 147.60
G (Opel Sintra minibus) 159.60
H Landrover Freelander 166.80

Europcar (http://www.europcar.co.uk)

This huge hire franchise offers nine classes of vehicle,
ranging from "mini" up to "luxury". Readers are
recommended to explore the website for fuller details.

Moto Roads

Contact: (http://www.motoroads.com)

This American-owned firm provides a bewildering choice of
car models – three Opels, three Chevrolets, no less than
twelve Renaults, three Mazdas, as well as Fords, Mercedes
and 4X4 jeeps.
It has contact points in nine Bulgarian cities, including
Plovdiv, Bansko and Borovets, and provides a free transfer
service from Sofia Airport to the car hire office. Moto
Roads can also offer guided tours and themed vacations.
Its per-day rental prices start at 15 euros!

Sara Tours (http://www.rentacarbulgaria.info)

This new Bulgarian company (launched 2001) provides
accommodation and tours, with car rental as just one of
its services. Sara permits you to drop off at various
points in Sofia free of charge – but prefers you to phone
to arrange pick up.

Hire vehicles (almost exclusively Opels) are divided into
six classes: Class A has a 1.2 engine size, rising to 1.8
in Class F. Hire periods are also rigidly defined,
consisting of 1-3 days, 4-6 days, 7 days. Weekend and
monthly hire.

Prices given here (in euros) are daily hire rates as of
December 2005:

A (Corsa) 32
B (Astra) 41
C (Meriva) 43
D (Astra 1.6) 46
E (Vectra) 50
F (Zafira) 58

Sixt (http://www.e-sixt.com)

Operating out of both major airports and several other
cities such as Duni, Eleni and Plovdiv, Sixt also offers a
pick up/drop off facility at five Sofia hotels (the Gurko,
the Rila, the Kempinski, the Oborishte and the Princess).

Daily hire prices, in euros (as of December 2005):

VW Polo 60
Renault Clio 67
Renault Megane 78
Renault Megane 90
Opel Vectra 96
Ford Mondeo 102
Chrysler Sebring 108
Audi A6 114
Mercedes E 120
Mercedes Vito 126

Bulgarian Ski resorts a good place to buy property?

Bulgaria has caused a flurry of activity amongst overseas
property investors looking to buy property low and sell
property high. When examing the Bulgarian housing boom it
is clear that much of it is lead by Bulgarian Ski resorts.
But with rental income only available in the winter months
is this a good place to invest in Bulgarian property?

Bulgaria has some of the largest mountains in Eastern
Europe, good snow and excellent vertical, Bulgaria has
become a destination for skiers in recent years. For those
overseas property buyers interested in ski resort
residences, either for personal use or to use as rental
property, Bulgaria continues to offer very good value and
appreciation.

The three most popular resorts in Bulgaria for skiing are
Bansk, Borovets and Pamporovo. Bankso is the newest and
most rapidly growing resort in the country. It is being
developed with an eye as a year-round resort and has golf
courses and other summer activities. It has 1630 meters of
vertical, putting it on par with some of Europe's best ski
areas. There are many off-plan apartments and villas in
Bankso available for those looking to purchase, and its
year-round season makes it a great place for overseas
investors.

Borovets is the oldest ski resort in Bulgaria and is also
the closest to Sofia, the capital and largest city, just
72 km away. The ski area is the main attraction, with 1230
meters of vertical, a gondola lift and excellent
facilities, but the whole area is undergoing a huge
development. The Super Borovets Project is aimed at
regenerating the whole region. This project will improve
the infrastructure and the housing in the area.

Pamporova is the smallest ski resort of the three majors,
and is also the farthest away from Sofia. It is serviced
by its own regional airport, though, in Plovdiv, 85 km
away. Pamporova is the least developed of these resorts,
and offers the lowest prices for those looking to
purchase.

Property values in the ski resorts have appreciated at
considerable levels in recent years, and are expected to
continue to do so as Bulgaria gains entry into the EU. As
more and more Europeans and Britons discover the
accessibility and low cost of Bulgaria, prices are
expected to rise in the 10-15% range annually.

Looking at the evidence it is clear that predicted capital
appreciation plus the fact that many of the Bulgarian ski
resorts are summer hoilday destinations makes investing in
Bulgarian Ski property seemingly a sound move.

Article Directory: http://www.articlecube.com

Nicholas Marr is a lifetime property investor and CEO of
Marr International Ltd a UK based property marketing
company that is responsible for one of the worlds leading
overseas property web sites at www.homesgofast.com . More
information re Property in Bulgaria is at

www.bulgarianhomes4sale.com

Properties in Bulgaria After 1st of January 2007 - Expectations And Forecasts

Properties in Bulgaria After 1st of January 2007 -
Expectations And Forecasts

Author: Michelle Tabakova

What to expect with Bulgaria joining the EU in the field
of real estates? This and many other questions every
investor interested in Bulgarian property market begins to
give on the brink of the accepting of Bulgaria in the
European Union on the eve of 2007.

What to expect with Bulgaria joining the EU in the field
of real estates? This and many other questions every
investor interested in Bulgarian property market begins to
give on the brink of the accepting of Bulgaria in the
European Union on the eve of 2007. Buyers, on one hand
hurried up to put in their funds as they were afraid of
drastic price rise.

Owners on the other hand - were reserved from selling or
they announced prices of estates much above their real
market value making it impossible to sell. If we take a
serious view, everyone played and everyone lost, because
the property market revived for a short period and then
after the holidays stood still in expecting the miracle.
Miracle with our joining the EU didn't happen, and there
is no way to happen. We should expect real market economy
in which conditions of the market are defined by the
searching and offering and not by someone's wish or
expectations. The forecast is property rise with approx.
10-15 %, after that a slight drop is expected, subordinate
to the real market mechanisms.

Prices will reach the European level faster than our
income, which to great extend is determined by the
presence of the foreign buyers on our market. Our
purchasing ability is defined by our earnings and by the
interest levels of the credits.

Changes will of course take place but they will rather be
in directing buyers' interests towards the vacation
settlements and rural properties. Orientation will be in
ecologically clean and pure regions close to big towns and
popular resorts, mineral springs and water basins. Clients
will pay more attention to availability of good
communication and developed infrastructure to the estates.

More people will be those who will consider a property
purchase not just as an investment but a necessity for
satisfying his needs and dreams for peacefulness and
tranquility among beautiful nature

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 Bulgarian
properties at ICBproperties.com

1On all aspects of investing in Bulgarian properties visit
our website for a huge resource of articles and1 the
largest and most diverse selection of quality

http://www.icbproperties.com1Bulgarian properties at1

http://www.icbproperties.com

Golf Resorts In Bulgaria Attract Investors And Property Buyers

Golf Resorts In Bulgaria Attract Investors And Property
Buyers

Author: Michelle Tabakova

Golf is a favorite game for many people in Europe and this
is proved by the fact that only in Scotland, Spain and
France there are over 500 golf courses each. Comparing
this data with the situation in Bulgaria, we can indicate
the availability of only three fully completed and going
golf courses.

The first golf club opens in 2002, located in Itiman, 40
km. from Sofia. Under the aegis of the Bulgarian Golf
Federation the second golf course opens doors in the town
of Sliven which is the largest one for now in Bulgaria and
the third one is situated close to the small town of Elin
Pelin.

Golf projects have been worked out in Balchik, Kavarna
,Sunny Beach, Burgas, Dolna Banya and Razlog and soon they
will count many in our country. The perspectives in
developing golf make the so called golf resorts more
popular for the contractors in Bulgaria. The idea is to
search for a combination between the game and the holiday
in traditional (summer and winter) tourist destinations.
This inevitably leads to price rise of properties, located
in proximity to the golf courses and attracts solvent
buyers. According to specialists, golf players are more
willing to waste money than the rest of the tourists.

The availability of golf courses makes the region
attractive for other investors too, which on the other
hand reflects the prices of the land.

In the area of Razlog, where one of the biggest golf
courses is being built up, the owners of agricultural land
(ninth category) are selling the square meter for 30-50
EUR.

The Northern Black sea coast is the other big golf zone in
Bulgaria. The three big golf courses projects direct the
contractors' activity in the area around Balchik and
Kavarna, where are projected or built numerous apartment
complexes .Most of them are advertised for their vicinity
to the future golf courses and the yacht equipment. It is
stake also on attractions like rock-concerts in Kavarna,
the nature reserves to the north, as well as local places
of interest like the castle of the Romanian princess and
the Botanic garden in Balchik.

Golf is one of the most developing sports in the world .It
is sport for all ages and despite game, it is a way of
life. Although in Bulgaria there are no traditions in this
sport, the developing of the golf complexes and this type
of tourism is forthcoming from now on.

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 Bulgarian
properties at ICBproperties.com

M.Tabakova is the owner of11ICBproperties.com , As one of
the leading and well-established Bulgaria real estate
agents, ICB properties Ltd help hundreds of people every
year to achieve their dream lifestyle in the sunny
Bulgaria and find their Bulgarian properties