Innovative property investments
Investment Property in Bulgaria
Coastal Areas
Overview
Maturing development
Along the Black Sea coast is where the Bulgarian property boom began.
Recent times have seen a phenomenal amount of development along the coast, with the major resorts of Sunny Beach and Golden Sands leading the way for destinations right along the coast from Varna to Burgas and beyond to follow.
Construction has been rampant and certain areas now resemble the less aesthetically pleasing parts of the Spanish coast.
Others, however, are showing the signs that they may be capable in future of emulating the more architecturally and aesthetically enlightened achievements of the developers on the Costas.
Affordable place in the sun
Properties are available at a fraction of the cost of their Spanish equivalents and have enabled thousands of people who would not otherwise have been able to afford a foreign beach property to grab their own places in the sun.
Those who have come to the Black Sea with the intention of buying a coastal property for their own use have done very well; unfortunately there are plenty of buyers who have bought just as an investment, having been promised high appreciation and healthy rental returns, only to find that their properties are up against a growing number of resale units as well as (naturally cheaper) off-plan homes currently under development.
The need to stand out
However, it must be made clear that it is still possible to make money on the Black Sea.
Rather like the situation on the Costa del Sol at present, those finding it difficult to shift their properties, or rent them out, are those buyers whose properties have very little to distinguish them from the competition.
Features that differentiate
Owners of beachfront apartments, or those in higher-end developments, or those - especially valuable - in developments with agreed deals with international tour operators are immediately advantaged in terms of price and turnover-time by virtue of their standing so far out from the crowd.
Location differentiates
The old maxim “location, location, location” has never been more important and quality is becoming increasingly vital too.
The forthcoming introduction of golf courses to the Black Sea coast brings fresh opportunities for those property investors looking for enduring location appeal.
Quality differentiates
As a more affluent market leads to the creation of more and more villa-style developments it will be the quality of the design, build and finishing that differentiates them.
This applies not only to sales but for rentals, and the link with tour operators will also become crucial at this higher-end.
The days of snapping up the first thing on the market knowing it will make a profit are long gone.
Investors looking for Black Sea gold must seek out properties that differ from the majority.
Lifestyle buyers
For lifestyle buyers for whom financial considerations are secondary, of course, this isn’t so much of an issue.
The coast will continue to hold solid attractions to domestic and foreign tourists and as a result the infrastructure will continue to improve.
While house-price inflation on the coast has been rampant, the price of food, drink and entertainment has not increased anywhere near as much to avoid pricing out the key domestic market and for the foreseeable future the Bulgarian Black Sea coast should continue to represent a very real and appealing budget alternative to coastal resorts in more established markets.
Downloadable Reports and Documents
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