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Bulgaria
Political and Economic Data:
Territory: 110,994 sq km
Pop: 7.85 million
Political System: Parliamentary Republic
EU member since 1/2007; NATO member since 5/2004
Consistent record of macroeconomic stability
2006 real GDP growth of 4.3%
2006 year end inflation 2.3%
Strategic geographic position as a bridge between Europe and Asia
Significant percentage of English speakers
Free movement of capital
No restriction on after-tax repatriation of profits
Free trade opportunities |
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Bulgaria is located in Eastern Europe and shares borders with Greece and Turkey to the south, Romania to the north, and Macedonia and Serbia in the west. Bulgaria's eastern border is adjacent to the Black Sea. It is a country of outstanding natural beauty as the environment remains unspoiled and incredibly varied. Bulgaria is a relatively small country and just a few hour drive will take you from the snow covered central Pirie mountain range to the long sandy beaches of the Black Sea. Visitors are often surprised by Bulgaria's diversity and natural beauty .Intense efforts have been made to preserve the country's rich and natural landscapes. As a result Bulgaria has exceptionally clear air and water. There are seven national parks and more than 3000 protected natural sites. Bulgaria is home to several ancient Civilizations including Greek, Roman, and Byzantine ruins. Today the country is home to 160 monasteries, 36 cultural centers and 40,000 listed archaeological monuments. Seven sites have achieved a coveted place of the UNESCO world heritage list.
Bulgaria and the property market The forecast: Based on the fast growth rates of the property prices, the increase in the real estate sector can be predicted in the next two years until 2009. The prognosis is that the prices will continue to rise until they reach their real market value. The low cost of real estates now is due to the long period of free market absence in Bulgaria and the legal limitation during the communist regime. On the other hand the entry of foreign investment is the reason for the jump in the property prices. Even though the cost paid for the properties is still very low. The expected increase in prices until 2009 is not less than 40% per year. |  |
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