Bulgarian Property Market 2008

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Jain and Chris

Senior Member
Hello all

We were invited by nubricks.com to participate in their latest podcast about Bulgarian property this year.

The latest podcast in the nubricks series revisits the popular destination of Bulgaria and more specifically Sofia, its capital city. In edition 28, Adam Samuel is joined by Libby Gomersall, Property Editor of Quest Bulgaria Magazine and James Gonzalez, Market Analyst for overseas property agents Obelisk International.

With record real estate transactions under its belt in 2007, this has prompted investment property analysts to wonder what the future holds for Bulgaria’s real estate marketplace. In this podcast, the many reasons why Bulgaria continues to garner interest are mentioned and also discussed are the kind of Bulgarian property investment opportunities still to be had in prime locations such as capital city, Sofia

Both James and Libby discussed the following factors that keep Bulgaria rooted on the property map:

Concerns from credit crunch crisis effect
Bulgaria thus far has not been affected by the credit crunch crisis, which affects many other countries. Its banking system is less tied to the UK and US banks and not reliant on EU systme. Bulgaria has many buyers from Russia and Romania, plus the domestic market is booming at present, so less reliance on UK and Irish investors. Not to mention the fact that Bulgaria has the highest home ownership (without borrowings) in the EU and little mortgage presence.

Positive effect of EU entry
An increase in US and Russian buyers and investors, James believes has come from the EU entry with many expats moving to Bulgaria and working for the likes of Google, Microsoft and other global companies. Indeed expansion from overseas companies relocating or establishing their presence in Bulgaria is forecast to boom.

Capital appreciation
Forecasted to keep rising 15-20% per year, with a specific project from Obelisk that could see returns of 145% in 5 years. Quest Bulgaria, from reader research in conjunction with major banking institutions sees a rise of 20% in 2008.

Bulgaria better than neighbours
Bulgaria still has a very low cost of living and when compared with the likes of Romania seems incredibly value for money. It also has much better weather than Romania and Ukraine.

If you would like to listen to the podcast for free and hear about Bulgarian property in the coming year, please click on the following link:
Quest Bulgaria Magazine - property podcast 2008

Best wishes from nubricks, obelisk and quest bulgaria
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