If you are asking yourself the question “Where to invest my money” you have probably heard the answer “In Bulgaria”. Knowing that Bulgaria is an ex-communist country your first reaction, would be “Are you crazy”. At the present time, Knight Frank Global House Price Index shows that Bulgaria has the strongest growth index worldwide. Please see table below: Liam Bailey, Head of Residential Research, Knight Frank says: “The Knight Frank Global House Price Index shows that while property prices in Europe and America appear to be suffering from the downturn in economic conditions; prices in Asia and elsewhere, notably Singapore and Hong Kong, are performing very well. “The most outstanding feature in this index in Europe is Bulgaria’s continued strong showing against the astonishing reversal of fortune witnessed in the three Baltic countries. Two of the three; Latvia and Estonia, suffered negative growth (-7.1% and -14.5% respectively) and the third, Lithuania managed price growth of just under 1%. A year ago each were high flyers in our index with 66.6%, 23.8% and 23% annualised growth rates respectively. Uncertain employment conditions, rising interest rates and household indebtedness are all identified as contributory factors in this turnaround. “The country by country summary that follows provides an insight to the shifts currently taking place in house prices across the world.” Featuring different landscapes (from high mountains, plain fields and long beaches) you can find that Bulgaria is an extremely attractive country to invest in. You may think “It is too good to be true”. In fact, it is true. But, property prices in Bulgarian cannot remain low for ever, so now is the time to invest. If you are looking for a rural property, keep in mind that at least 90 % of those properties will need some work doing to them. Some will just need modernization, and some will need a complete renovation. A lot of people fail to realize the construction prices in Bulgaria are cheaper than in the UK or Western Europe. If you are a so called ‘investment hunter’ and always look for properties in newly built apartment complexes – hurry. The demand is huge and the supply is small. Even with the increased number of newly built apartment complexes, Bulgaria is far from meeting the demand. In fact, by investing in such properties, you can never loose your investment, as Bulgaria Property prices go up with the increased popularity of Bulgaria. ShareThis
