Bulgarian Coastal Property Proves Popular
Sunny Beach is the name of Bulgaria's biggest Black Sea resort and it sums up why many overseas investors are flocking to the country’s coastline to pick up holiday homes and investment lets.
40% of buyers searching for property online are focusing on the area, which lies in the Burgas province on the East coast.
Analysis of the search behaviour of Bulgarian house hunters on Google shows that buyers most commonly searched for "Bulgarian property" and "Bulgarian properties" and that the most active period of the year was between February and June.
The interest in Bulgarian property involves far more than simply seaside attractions though, with searches for "apartments for sale in Bulgaria" and "houses for sale in Bulgaria" both growing in volume over the past year.
The country has good prospects in the mountains as well, and indeed three of the top 10 searches targeted the ski resorts of Pamporovo, Borovets and Bansko.
Bulgaria's seasonal balance of coastal beach towns and ski resorts gives it a year-round potential and the main appeal to investors remains in these tourist hotspots that offer advantages to both those seeking rental yields as well as lifestyle buyers.
With low prices adding to the list of attractions and the country’s increased recovery from the global financial crisis, the fact that Bulgaria is outside the eurozone means that it has something of a unique appeal.
Surprisingly though, capital city Sofia only appears eighth on the list of most searched for destinations in the country, with the province of Veliko Turnovo in the central region coming out on top.
With an array of historical landmarks nearby, it has a strong tourist appeal of a different sort from the coastal and ski resorts.
Anyone looking to transfer money to Bulgaria should be aware that the foreign currency rates offered by the major banks are often far higher than those available from currency exchange specialists.