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BULGARIA

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Bulgaria is an emerging country which triples the levels of growth in comparison to that of its European Union fellow states. Given its strategic point of connection between Europe and Asia, its profile within the European panorama is that of a territory of opportunities for Real Estate investment, commerce, the circulation of goods, and economic development.

Ever since joining the European Union in January 2007, Bulgaria’s GDP has reached €23.7 million. The rhythm of economic growth is around 6% and the Bulgarian government foresees around 6.9% for 2009 and 2010. The grounds for this economical bonanza are mainly based on the spectacular growth of foreign investment since 2003, the company investment incentivising programmes, and the improving of the financial sector.

The Real Estate market has the judicial security and the stability of the investments set out by the European Union with low interest rates, which allow access to housing for the budding middle-class through mortgage markets. The average price of housing that Bulgaria has experienced over the last few years has been very positive; in 2007 alone it was 30%. Forecasts for 2008 are following the same lines of appreciation.

Bulgaria has 7.7 million inhabitants of which 1.2 million reside in Sofia, the capital. As in other countries experiencing this level of development, Bulgaria is currently undergoing a clear demographic migration from rural spheres to urban areas.

Bulgaria also holds a moderate continental climate in its favour, harmonised by the Black Sea on the coast, and the altitude of its mountains. This combination allows activities for visitors all year round.

Impressive mountainous countryside, combined with golden sand beaches, make Bulgaria an ideal tourist destination. The beaches on the coast of the Black Sea are famous for their fine sand and for the temperature reached in the summer, perfect for those who have had the opportunity to visit them. In areas such as Ribaritza mountain sports can also be practised, including skiing in winter.

For those who enjoy visits of a cultural nature, Sofia is a city which hosts architectural jewels of great historical importance, as well as restaurants where delicious dishes of Bulgaria’s varied gastronomy can be tasted.