You could invest your money anywhere, so why Bulgaria? Around eighteen months ago few people knew anything about Bulgaria, or the opportunities for property investment in this developing country and fast growing property market.
The accession treaty to join the EU was signed on 25th April 2005 and ratified on 11th May. Now as preparations to enter the EU continue, Bulgaria is featured almost everywhere you look, including TV, national newspapers, investor and property magazines, property exhibitions and a vast amount of reference sites on the worldwide web.
The general cost of living and labour is one of the cheapest in Europe, which has kept property prices low and made Bulgaria a popular choice for tourists and investors alike.
In total, 259,092 tourists from the UK visited Bulgaria during 2004, which is a huge increase over the previous year and is expected to nearly double for 2005.
Property in Bulgaria Early investors, taking note of the property investment opportunities in Bulgaria, have been picking up traditional houses, land and off plan developments at the lowest prices.
Recent studies have shown on average property values are appreciating between 30 ? 40% per annum.
During 2004 around 500 million euros were invested by foreigners in Bulgarian property, compared with 98 million for the whole of 2003. January 2005 saw an increase of 10% compared to the same month in the previous year.
While we are not qualified to provide tax advice there are some good sources of information available on the Internet with respect to Bulgarian Tax law which are listed below: