Destinations Abroad – Bulgaria ( written 2008 )

When it comes to investing in property abroad, the top destinations for British expats are Spain, France, Australia, USA and New Zealand. There are 200,000 Britons living in France and an astonishing 800,000 have migrated to Spain. The best value worldwide holiday destination for Brits is Bulgaria and there are currently around 2,000 Brits living in Bulgaria and increasing rapidly. 20,000 UK citizens bought land in Bulgaria last year and Bulgarian land prices increased by over 145% in the last 2 years. There have been numerous cases in Bulgaria where land holdings have produced a 500% return in just a few years. The world trade organisation forecasts that by 2010 Bulgaria will be visited annually by 20 million tourists – the forecasts make Bulgaria one of the world’s most promising international tourist destinations. It is important to note that Bulgaria is just under half the land area of the UK- which is roughly the size of England and has a population of around 7 million people whereas the UK has a population of around 70 million. There is not enough competition of airlines as yet travelling to Bulgaria- but this will change due to the above demand and prices will reduce from an average current £200.00 return ticket which is double that of Spain for example. There is also the problem of the so called white flight scenario where record numbers of westerners are flying to Bulgaria which causes flight price problems.

According to MRI Overseas Property, one in seven Britons thinking of buying a property abroad will consider the country of Bulgaria. The magazine Quest Bulgaria features couples making new lives in Bulgaria. “In time, the investments British and Irish buyers have made in new-build homes will come very good. I imagine many Bulgarians will come to Britain looking for work, but many Britons are intent on living in Bulgaria. We were thinking of buying a holiday home in southern Spain but have been discouraged by the amount of building work on the Costa del Sol. It’s a much nicer way of life here with good weather and it’s safer for our children”. This is a typical quote from expats living in Bulgaria.

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