Bulgaria's growing property market has experienced yet another record breaking year of investment

Bulgaria's growing property market has experienced yet another record breaking year of investment, reported news.assetz.co.uk, managed by a group of property investment companies delivering selected UK and overseas property and investment solutions.

Around 250,000 homes are expected to be sold and finalized by the end of this year, the article points out.

"The figures mark the former Eastern bloc country out as one of the principal growth property markets in Europe. At a time when most countries are seeing the growth of the past few years ebbing away, Bulgaria expects this year to bring a 28 per cent increase on the number of homes sold last year - which had also been a bumper year with 196,000 properties sold."

The article says properties are set to raise 15 per cent more year-on-year, making it one of Europe's highest growth markets.

The real estate market in Bulgaria is relatively unexplored and offers incredible investment opportunities. The prices of the properties in Bulgaria are increasing by about 20-30% every year and according to the market research the trend will continue until the country joins the European Union in 2007. Some experts even predict this process to continue long after the joining of the European Union. Rural house in Bulgarian village could be bought for as little as 5000 Euros, good house- for about 25, 000 Euros and perfect 6 bedroom villa on the Black Sea Coast with sea view- about 150,000 Euros ( on the price of a studio in Spain! ).

Many of the foreign investors consider an apartment in the famous beach and ski resorts ( Sunny Beach, Bansko ) as good option. This will coast about 70, 000 Euros ( depends on the size of the apartment, of course ). The option is very good, because they rent the property latter and get some rental income. However the best option is to buy a plot of land and build a villa, house or apartments on it. The option deserves customer’s attention, because the price of the land in Bulgaria is very cheap- which is 11,000 sq.m. for only 15,000 Euros! This is regulated land, with building permission! Of course it depends on where the land is situated in. There are regions in Bulgaria like Veliko Tarnovo, which are more expensive that other ( Targovisthe ), because of their tourist potential. This leads to increasing of the possibilities to rent the property, bought there.