| Bulgaria will become a fully fledged member of the | | | | construct logistics and warehousing in Sofia as well in |
| European Union on the 1st of January 2007 and this | | | | 2007. |
| will have a dramatic impact not only on the residential | | | | Retailers' demand for land is going to go head to |
| property market in Bulgaria but also on the | | | | head with residential developers' demand for land in |
| commercial marketplace with the retail, warehousing | | | | the main commercial centers and resorts and this will |
| and logistics sectors especially affording investors | | | | force land prices up which will inflate the prices of |
| plenty of diversity when it comes to developing a | | | | properties for sale...buyers need to get in ahead of |
| profitable property portfolio. | | | | this price push and 2007 is the year when they need |
| To put it simply, 2007 could well be the year when | | | | to move quickly. |
| Bulgaria stops emerging as a nation and it finally | | | | There are further factors that will inflate house prices |
| arrives as a top destination with strong real estate | | | | in Bulgaria from 2007 onwards - with EU entry comes |
| investment opportunity supported by a local society | | | | a requirement to adhere to EU rules and regulations |
| growing in affluence and backed up by a strong | | | | and these rules and regulations don't come cheap! |
| tourism market and fledgling international expatriate | | | | Constructors will need to upgrade materials used and |
| and retiree demand. | | | | also safety standards in place. Furthermore Bulgarian |
| Prior to the very recent announcement that Bulgaria | | | | labour can now begin demanding equal rates of pay |
| really would join the European Union in 2007, those | | | | with their EU counterparts and on top of this, |
| who bought property in Bulgaria were seen as | | | | commodities such as electricity are set to increase in |
| speculators banking on the nation being accepted as | | | | 2007. The National Construction Federation has |
| a fully paid up member. These investors naturally | | | | estimated that in 2007 alone 5% will be added to the |
| took a great deal of profit from the market when | | | | price of construction because of all of these factors. |
| the announcement came through. Subsequently there | | | | This will affect those who come to the market late |
| have been many media reports that there is no more | | | | and anyone hoping to tap into a society growing in |
| room for profits to be made - but that is an | | | | affluence and demanding more and better |
| incredibly short sighted view to take! Sure, the | | | | accommodation as well as a tourism market that is |
| speculators have been there, done that and derived | | | | rapidly expanding need to move quickly in Bulgaria if |
| double digit returns on investment each year to date | | | | they want to profit fully. It is estimated by many |
| - but going forward there are many fundamental | | | | experts in the Bulgarian property market that there is |
| factors underpinning the ongoing profitability of | | | | a window of maximum opportunity currently that will |
| property in Bulgaria. | | | | last until 2010 after which point the Bulgarian property |
| For example, with EU entry comes massive | | | | market will have met demand with supply, property |
| investment and the ability for companies and | | | | prices will meet affordability and short term strong |
| commercial operations from across Europe to set up | | | | gains will be far less achievable. |
| operations in Bulgaria or to begin trading more | | | | Finally, changes to the Bulgarian constitution to allow |
| intensely with Bulgaria. One of the main property | | | | straightforward foreign ownership of real estate |
| market sectors set to expand significantly as a result | | | | have been made but not yet enacted and while this |
| is the retail sector - a company like Technopolis | | | | remains the case there will exist in many people's |
| Bulgaria is perfect to demonstrate the direction many | | | | minds additional risk or unsatisfactory levels of |
| retailers are planning on taking in 2007. Technopolis | | | | administrative hassle associated with buying property |
| Bulgaria is a company part German and part Bulgarian | | | | in Bulgaria which one has to do via a limited company |
| owned that is already dominant in its consumer | | | | structure. This will keep prices competitive until the |
| electronics market sector and which already owns 11 | | | | constitutional changes become law which is estimated |
| mega stores across the country but which, in 2007, | | | | to happen somewhere between 2010 and 2014. This |
| has plans to begin building hypermarkets. Not only | | | | means that those who commit now can buy in ahead |
| this, they have further plans to expand across | | | | of a potential boom in property transactions which |
| Bulgaria's borders and they are just one in an | | | | will most likely occur when it becomes simple to buy |
| incredibly long line of retailers with plans in place to | | | | and own land and property in Bulgaria. |