Is Bulgaria the new Spain?

• So it appears Bulgaria has gained a large community of soon-to-be-expats looking into relocating to Bulgaria. Whereas ten years ago it would have been Spain or perhaps France...
  
  One Bulgarian agent i just came across states:
  "For a generation now the British have been buying up property for restoration in France, Spain and Italy. Today, however, these properties, closer to home are no longer the bargains they once were. With cheap flights and the EU enlargement, Bulgaria, as one of the Applicant countries, is emerging to be one of the most attractive destinations to look for your ideal property. Tucked away in the corner of South East Europe, Bulgaria is only a 2.5 hour car drive from the gateway to the Orient and has Romania on the North, the Republic of Macedonia and Serbia on the West, Greece and Turkey on the South and the Black Sea on its Eastern border."
  
  So now that Bulgaria IS PART OF THE EUROPEAN UNION will people choose it over Spain?

  03 Apr 2007, 09:48 Mark

Replies

• Is Bulgaria the new Spain?

  That depends what you mean, if you mean a market that has hugely over developed coastal resorts, with cities that are the only sensible investment option then, yes it is the new Spain. However I believe it is unlikely that Bulgaria will show the sort of market growth over the next ten years that Spain has over the past 10 years years. The country is beautiful and had potential however I belive that too many develpers rushed in too quickly trying to get all they can from the country, without considering what will be best for the country itself. Nearly all the locals have been priced out of the market, this takes away the local resale market something that never happen in Spain.
  
  I belive that all these people purchasing a property in Bulgaria will be happy as long as they are not looking for a quick profitable sale and instead intend to be there for the love of the country.
  
  Spain will probably always be fairly popular however it is true that places such as Bulgaria, Croatia and potentially Romania will reduce its dominace. However it is unlikely Spain will ever be de-throned as the number one overseas property destination.
  
  P.S. I am currently doing a dissertation on this subject, called "Is Bulgaria the new Spain?" and would love to hear your views on the subject particularly, if it was your money and you only had two choices of investment, Bulgaria and Spain which would you choose?
  

  Andrew 19 Apr 2007, 10:15 - Report

• Is Bulgaria the new Spain

  I was sucked in to buying 2 apts in Kavarna which are nearing completion. I now have serious reservations about the wisdom of this investment, so much so that I may walk away from the deal despite having paid 50 per cent up front.
  
  I have investments in other countries that I am happy with, but for a number of reasons Bulgaria now worries me.
  
  Ted

  Ted 28 Dec 2007, 10:23 - Report