Bulgaria is a country in the Balkan region. It is a country with a very rich and wonderful history. Its roots go back to the Thracian, Greek and Roman times. Bulgaria is a country with a diversity of landscape with tremendous variety. From snow peaks of the Balkan, to the wild and sunny coasts of the Black Sea, to the hilly country and plains, from the wonderful sight of Danube River, you can find this diversity all in one little country. That is why it is no wonder that this country represents a good opportunity for the real estate investment. The real estate market is in a constant growth, especially after the country joined the EU in 2007. Bulgaria is considered one of the fastest progressing countries in Europe. Property in Bulgaria is of high interest especially in the coastal and mountain regions, as well as the big city locations which gets more and more popular and attractive for investments in real estate. Bulgaria is not such a highly industrialised country and is a fairly new EU member country thus making the real estate prices lower in comparison with the Western Europe real estate market. The growth of the real estate market is estimated to be 31% per annum. The booming Bulgarian real estate market is also explained due to its resorts. Many tourists come to Bulgaria during both summer and winter which is why instead of paying money for hotels the tourists invest in the real estate like villas and apartments near the sea, or in houses in the mountains. Due to the touristic boom the authorities have expanded the mountain and ski areas. This will also encourage foreign capital in the real estate investment for this country. There are many real estate agencies and building companies which are based on foreign investments and these execute the projects of the foreign investors. The growth of tourism also influences the economical welfare of many of the local citizens because some of the tourist regions cannot meet the demands for accommodation so many local citizens offer their homes for rent during the winter and summer periods therefore gaining from the rental income. There are touristic cities which have had to extend the capacity of building areas in order to face the growing number of tourists. The property in Bulgaria has come to a new stage where the demand is higher than availability hence many hotels and apartment building projects have been built and it would be right to say that Bulgaria has turned into one of the highest building places in Europe. The coastal part of Bulgaria has been a good attraction for tourists as well as for investors. In recent years the investments have started to boom in the mountain regions as well. The government has spent a lot of money in order to advertise the touristic regions of the country. The tour operators have contracts with many touristic firms and bureaus in Europe and US. Real estate investment in Bulgaria necessitates a good research. Due to the fact that during the winter period the coastal region is covered with snow so not many tourists come to these areas so most of the profit is gained during the May-September period hence the reason that prices are much higher during this period. In comparison with the coastal region, the mountain area is open for tourists nine months a year making the mountain areas more attractive for investment than the coastal region. As most of the foreign investment goes to the mountain region this makes the development of the winter infrastructure more important.
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