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Bulgaria, Burgas
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ontrary to recent rumors that the Bulgarian real estate market is not so attractive to foreign investors any more, Andrew Regan, a Scottish online freelance author, comments that the Bulgarian property boom shows no signs of abating.
“Bulgaria's expected adoption of the Euro in 2011 means that investors need to move quickly to snap up the best deals. Bulgaria's recent accession to the European Union has vastly increased its attractiveness to British holidaymakers as well as investment property buyers. Real estate experts also predict an even greater demand for property when Bulgaria adopts the Euro in 2011,” the author said.

Investors are particularly interested in Bulgaria, as it is believed that EU money will be spent on improving the country's infrastructure. Bulgaria has seen a great deal of political reform since the Communist era, and the government has shown solid commitment to economic improvements, with GDP growth the highest in Eastern Europe.
Economic growth has also caused a vast escalation in land values, which have risen from just 20 euro a square meter to around 350 euro in some areas. The prospect of high profits has lured many individual and business investors from Britain, Ireland and Russia to buy ski and beach chalets, which can be purchased for a fraction of the price of similar properties in more traditional holiday areas such as France, Spain, Austria and Switzerland.

The high price of UK properties and the recent rises in interest rates have also led UK investors to widen their search for better real estate deals. Bulgaria continues to excite investors as it is an emerging market that offers property at prices that are unobtainable in other parts of the world. It is still possible to pick up property for as little as 30 000 euros, a sum which would buy little more than a garage in the UK.

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Bulgaria's connection to the UK via low cost airlines has also added to its appeal as both a holiday destination and investment area. Flights from London Stansted to Sofia take around three hours. More routes are expected to open up soon.
    FAQ    

 -How shall we start our property search?
Have a look at the properties on Bulgproperty website and decide which properties you like, then you can send us an email with any questions you might have about the properties using the “CONTACT” box located on the top of the home page. For viewings you need to arrange a trip to Bulgaria and let us know. We will then set the necessary appointments. You can also ask us any other questions that you have, we’re here to help!
 -What do we need to bring with us on our first visit?
Obviously you will need your passport, but also some Euros if you want to place a deposit immediately. (You can bring up to 4000 Euros each into Bulgaria without declaring it.). We would suggest you bring some sturdy shoes if you are looking at properties in the country, as some may be less accessible than others.
 -Can we pay by credit card or travelers’ cheques?
Travelers’ cheques are cashed only in the big towns and they charge high commissions on them. You can pay us using your credit or debit card for your property. Normal cheques take about 4 weeks to clear and they are not suitable for payments, especially for placing a deposit!
 -How do we reserve a property?
You will need to pay a deposit (normally about 10% of the price) which is non refundable. This ensures that the property is removed from the market and not sold to anyone else.
  -How do we see the properties that we are interested in?
If you tell us in advance when you will be coming to Bulgaria, we can arrange viewings to fit your schedule (even a tight one!). We don’t charge a viewing fee, but we charge 15 ˆ cents per km.
  -Is it possible to buy without coming to Bulgaria?
 Yes, this is possible, but not always so straight forward. You will have to get documents signed and stamped in the UK. It is often easier and quicker to come to Bulgaria for a couple of days and sort everything out here. Plus, you will be able to see the property.
 -Will we get ownership documents for the property?
Yes, you will have title deeds in your name, or if you are buying through a company, your company name.
 -What about our company tax returns?
Every year you have to submit your annual tax return, the same as in the UK. We have accountants that can do this for you. Our after sales package will include this service as one of the options available to you.
 -What if we want to have renovations carried out on our property?
 No problem,our professional builders team can recommend a complete range of options and decisions for the work to the budget that you set them. You just need to tell them your requirements and negotiate the different options with them.
 -Can we use our credit and debit cards when we come?
In the bigger towns, you can use your cards, but still only in the larger shops. All the hotels will accept cards, and all the major petrol stations, but in general most other transactions are carried out in cash.
 -What are the regulations for the import and export of currency by foreigners?
Persons crossing the borders of the Republic of Bulgaria in either direction must fill out and present to the customs authorities a "currency customs declaration" if they import or export more than 8,000 Bulgarian Leva or the equivalent in either foreign currency or traveller's cheques (approximately 4,000 Euro) and must declare the cash and/or cheques to Customs officials upon arrival. The declaration should be filled out in three copies (items 1.1 and 1.2 of the declaration must be completed). Travelers who attempt to leave the country with the equivalent of 25,000 Bulgarian Leva or more must complete a Customs declaration, on which they must state the origin of the money, and present a certificate from the Bulgarian regional internal revenue service proving they do not owe taxes, unless the sum is less than the amount originally declared when brought into the country. In the latter case, travelers must present to the customs authorities the customs declaration that was endorsed at the time of their last entry into the country; this declaration is considered to be valid for export of Bulgarian and foreign currency until the person leaves the country.

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