Bulgarian accession to the EU. The green light for the serious investor?

Bulgaria has recently met all the causes and articles for accession to the EU. Full entry is scheduled for early 2007.  The country will immediately benefit from worldwide acceptance and a massive investment from the European Community.

Bulgaria is at present a relatively poor country.  The average monthly wage is just €280. Membership of the European Community will ensure that the transportation network, domestic and commercial utilities sector, labour rates as well as the fiscal and banking systems will all be brought into line to mirror their more prosperous European neighbours.

With the increasing prosperity, along will come the private and corporate investors eager to cash in on the country's new found wealth.  Over the past three to four years, Bulgaria has seen consistent rises in the property market between 20 to 30%.  A few pioneering investors have taken advantage of this increase but have tended to be either the long-term corporate investor or highly speculative property gambler.

Entry into the European Union have seen the property prices of new member countries almost double within a one to two year period.  Ireland, Hungary, and even Spain are prime examples of this phenomenon.

Bulgaria is set to be no different.  Property prices and the cost of living are amongst the lowest right across the European states.  Massive price increases are predicted within the next 12 to 18 months to echo prices amongst other member states.

The country itself offers a vast selection of city, coastal, mountain and rural investment opportunities. 

Sofia, the capital, is experiencing massive corporate investment from companies relocating to take advantage of the low labour and rental cost:

The Black Sea Coast, with resorts such as Sunny Beach, Golden Sands and St. Vlas, experiences higher summer water temperatures than the Mediterranean along the Spanish mainland. Tourism is increasing massively year on year as is the number of  visitors investing their own home in the sun.

The mountain resorts, Borovetz, Pamporovo and Bansko offer the longest ski season in the whole of Europe. Prices for ski apartments are around 70% cheaper than other popular European resorts and property purchases are booming.

Existing rural properties can often be purchased for less than the price of a car. Hardy purchasers can expect huge bargains, huge potential and tiny prices.

Many experts agree with www.investmentpropertybg.com that prices are due to surge over the coming months in anticipation of accession. Returning holidaymakers, impressed by the value for money and excellent selection of properties that Bulgaria offers, will further fuel the property boom. The time for the serious investor to take advantage is now.

BULGARIA - The Hype, False Urgency and Exaggerated Returns

Did you see the episode of the BBC2 program 'How to pay off your mortgage in 2 years'. In this episode the man of the family travelled to Bansko, Bulgaria looking for an investment property. I am not sure of how much he had to spend but he was taken to view a number of properties by an agent from an 'un-named' agency and charged a whopping 1000 Euros for the privilege of doing so. Now this in itself should have started alarm bells ringing.

Many agencies in Bulgaria, both Bulgarian and British owned charge a viewing fee. Some charge a set fee for a day's viewing while some  charge per mile you need to drive to view properties. Now why should you pay for the privilege of looking at properties you are considering buying. The reasoning behind this practice seems to be that there are so many time wasters just viewing properties when they have no real intention of buying anything. But how true is this? Most foreigners going to Bulgaria have at least some interest in investing in property over there as they have all been bombarded with the same hype over the last couple of years.

So this guy I mentioned above settled on a couple of properties that were of particular interest - a new build apartment and a house in a village about 5-10km away from Bansko.

The guy was told by the agent that these types of houses hardly appear on the market and that the one he was interested in would be sold within a couple of weeks so he needed to find the deposit and put it down to reserve the property straight away.

To clinch the deal the agent told the guy that if he bought the property now he would make a profit of an unbelievable £175,000 in a couple of years. Something along the lines of a 200 - 300% increase in value!

Well the guy fell for it, hook, line and sinker. If he had had the thousands of pounds for the deposit in his pocket, he would have handed it over to the agent straight away.

Luckily he didn't and so he flew back home and after discussing the matter with his family, he had second thoughts and decided not to pursue the house in Bansko. In fact I think he went on to buy a house for renovation in the UK.

However, this is so typical of the tactics used by unscrupulous agents in Bulgaria and other countries to try and get you to part with your hard earned cash.

They will try and make you think properties are in short supply, that they will be snapped up by another buyer almost immediately and talk of totally unrealsitic gains. You can avoid being taken for a ride by doing your research and not rushing into anything.

There are plenty of properties available, yes prices are rising a little but is it not better to end up paying a tiny bit more for taking your time and finding out the facts first than rush into something you may regret later.

Bulgaria’s Hottest Property Spots

Hot-spots

Sunny Beach
The country’s largest package holiday resort has a good beach with excellent leisure facilities, entertainment and activities. It is close to Bourgas’ international airport and has been a focus for building and buyer interest, although over-development is becoming a problem, with a glut of new properties meaning unreliable rental returns.


Golden Sands
A large package resort with a good beach and facilities set in pretty surroundings on the forested coast north of Varna. Easy access to Varna airport and the city. Strict building controls have limited development and ensure strong demand for property.

Bansko
The country’s largest ski resort, which is enjoying major infrastructural investment, including a new golf course. The negative impact of rapid development could be reduced by a clamp-down on new developments in the area.

Pamporovo
European’s most southerly ski-resort is increasingly popular with the British

Veliko Tarnovo
The picturesque countryside around this historic city is the target for a growing number of foreign buyers looking for peaceful rural retreats and renovation properties. The beautiful scenery has led the area to be dubbed “Bulgaria’s Tuscany”.

Sofia
Renovation properties and off-plan developments in the country’s capital are popular with investment buyers for their solid rental returns and capital appreciation.


Rising Stars

Balchik
A small seaside town, north of Varna, that is near a new golf course development. Easy access to Varna city and its airport.

Byalla
A quiet beach resort favoured by Bulgarian holidaymakers, which is set in beautiful countryside halfway between Bourgas and Varna.

Ruse
Provincial city on the Danube that has a hinterland of unspoilt countryside dotted with villages.

Sozopol
An atmospheric seaside town with good beaches that is close to Bourgas airport.

Borovets
A small ski resort near Sofia that has been slated for major investment.

Bulgaria – The Best Property Investment In The EU.

Investing in real estate is regarded as probably the safest and most consistent way to increase your capital. Worldwide property investment is no longer the preserve of the super rich or readily connected but with the event of the internet and a simplified banking system, is open to all of us.

Massive fortunes are built and grown through property investment and the sheer size of the global market offers the chance to build a property portfolio with even if you have the smallest budget.

Emerging markets and the ready availability of cheap investments, can be you’re your pension plan and a source of regular income.   The key is identifying the fastest appreciating areas with affordable property that will offer consistent growth and huge capital returns.

Currently, in the European market, Bulgaria is the current hotspot with an average growth rate of 30% with the cheapest property prices in the EU. There are several other countries in the EU, which attract foreign investment for a variety of reasons. None, however, can rival the sheer number of factors, which makes Bulgaria an irresistible, safe and compelling location for your investment capital:

<ul>
<li>The cheapest cost of living in the EU-- 50p for a beer and less than £5 for a three course dinner are prime examples of why more and more holidaymakers and repeat visitors are flocking to the country</li>
<li>The cheapest real estate in Europe-- you can buy a detached house in the country with land for less than £10,000!</li>
<li>Outstanding natural beauty-- where else can you find 220km of sandy beaches, 1700 hours of sunshine a year and the longest ski season in Europe?</li>
<li>Ease of Access-- Bulgaria is approximately three hours from the UK by plane with all the low cost airlines now scheduled to fly there</li>
<li>Increasing exposure-- All the major tour operators now offer packages to Bulgaria at roughly 30-40% the cost of the Spanish or Portuguese equivalent</li>
<li>Rapidly growing marketplace-- Visitor numbers and potential buyers are growing at over 20% per annum</li>
<li>Sustained economic growth-- Bulgaria is experiencing one of the best GDP growth rates in Europe at 4.7% per annum</li>
<li>Stable currency-- the Bulgarian Lev is pegged to the Euro</li>
<li>Stable political and religious communities-- Bulgaria is a full member of NATO has no history of civil upheaval and no questions over land ownership </li>
<li>Booming house prices-- 30% growth rates are the norm, your money would have appreciated by over 50% in key areas in the last year</li>
<li>Full membership of the EU-- Bulgaria will become a full member of the EU in 2007. This international acceptance will promote massive government investment and expansion, accelerate the growth of the country and ensure the highest capital growth and rental yields for your Bulgarian property</li>
</ul>

Property prices are continually rising and will surge with full membership of the European Union. You can invest now in either off-plan developments or existing resale properties at bargain prices that are approximately 25% of Spanish, French, Italian or Portuguese alternatives. The next few years will increase the value of your property to fantastic heights.

Mark Emerson is the sales director for Investment Property BG Ltd. The company specialises in high return investment property in all areas of the Bulgaria marketplace with prices from under £10,000. You can obtain a free copy of their investment guide ‘5 Reasons You Must Invest In Bulgaria Now’ and access their properties at <a href="http://www.investmentpropertybg.com/">http://www.investmentpropertybg.com/</a>.

Building Up The Old Neighborhood Hometown Pride-Investors have been working to renovate old neighborhoods.

If you've noticed that the "bad side of town" has taken on a surprisingly good look, you're not alone. That may be because investing in the look and feel of communities has become big business-and towns across the country have benefitted.

Buying and remodeling residential real estate at breakneck speed has become a hot career for private investors and a huge boost to cities in dire need of a facelift.

For instance, a firm called Red Brick Investment Properties, LLC, a HomeVestors of America franchise in Gary, Ind., is an expert in the industry, gutting and remodeling homes from roof to floor in 10 to 12 days and in large volumes. The welcomed changes in return have earned the company a place with Gary's Community Development Department to offer discounts to first-time homebuyers.

But when is a home-even an ugly home-too old for salvaging? For one area of Macon, Ga., the answer is never.

Charles Rutland, a real estate investor in Macon, fought so hard to keep his childhood neighborhood of Pleasant Hill on the National Historic Register that his HomeVestors franchise, PRG Realty LLC, pledged $1 million toward rehabbing homes in the area.

Rather than bulldoze and lose the architectural heritage of the now-famous shotgun houses, Rutland saw a need and an audience interested in rehabbing and owning a piece of history in the city. The area was one of the first places in the state where African-Americans could own real estate. It now has a bright future once again.

That bright future extends to the thousands of homeowners across America who have affordable and attractive starter homes thanks to real estate investors willing to put "sweat equity" into existing neighborhoods. In total, HomeVestors has more than 250 franchisees in 33 states across the U.S. with plans to buy more than 8,000 homes in 2006. Ugly real estate may never have looked so good for the investor and the future homeowner.

Building The Dream Home

Building your Dream Home?

Maybe it’s a Low-country beauty overlooking a sun-kissed green or a contemporary A-frame along the fairway.  Whatever and wherever your imagination goes, the dream homes provided by Golf Magazine, The Progressive Farmer and HGTV demonstrate the latest trends in laying a solid foundation for your dream home.

When plans go from daydream to drafting board to job site, it’s important to involve skilled professionals who share your vision and enthusiasm.  Choosing a qualified architect to map out your dream home is a necessity.  In the case of Golf Magazine’s Dream Home at Reynolds Plantation on Georgia’s Lake Oconee. Cincinnati architect Don Beck created plans for a lavish 4,500-square foot home with four master bedrooms and a locker room. Getting a feeling for how willing the architect is to work within your design requests is also essential.  Emphasizing country living at its best, The Progressive Farmer dream house is designed for people with a penchant for rural life.

Building your dream home might mean incorporating your plans into a themed community – design restrictions and architectural standards.  Builders of  The Progressive Farmer dream house at McLendon Hills, a lake and equestrian community near Pinehurst, N.C., incorporate cottage influences into the design. HGTV’s dream home at Cumberland Harbour in St. Mary’s, Georgia has both coastal and Victorian elements.

Many of the nation’s top builders and suppliers contributed to the materials and amenities of each dream home – products you’ll want to consider using once two-by-fours start going up.  Golf Magazine’s dream home features paint provided by Ace Hardware, broadband phone service by AT&T, and state-of-the-art appliances and consumer electronics by Best Buy.  Your builder should be able to recommend materials that are both energy-efficient and consistent with your home’s design theme.  Altogether – from breaking ground to laying a welcome mat – you can expect the construction of your dream home to take a year to a year and a half.

Sometimes you need to see it to believe it. To stir would-be dream homebuilder’s imaginations, each of the 2004 dream homes spent several months open to the public.

In addition to being featured in its November 2004 issue, Golf Magazine’s dream house at Reynolds Plantation was open to the public. According to Bill Houghton, Vice President of Marketing for Reynold’s Plantation, approximately 17,000 people toured the home in six months.  The Progressive Farmer Idea House and Farmstead was open for tours this summer and was featured in the August 2005 issue.  HGTV’s dream home tours at Cumberland Harbour debuted in May 2007 with a Winner’s Weekend that awarded one of approximately 35 million contestants the dream house itself, worth  $1.2 million. Also a giveaway event, the HGTV 2006 dream house is under construction at Grey Rock at Lake Lure, NC.

At 4,500 square feet, Golf Magazine’s dream house features a spacious, “’Hunt Club’ interior with leather as a fabric of choice, lending a ‘sense of sophistication’”, according to interior designer Jan Vorderburg.   Four master bedrooms with accompanying bathrooms guarantee a luxurious stay even guests will enjoy.  Golf Magazine publisher Chris Whitman said, “The Golf Magazine dream house has exceeded expectations on every level…truly a dream come true for golfers.”

Recalling America’s rural past, The Progressive Farmer 3,500 square-foot dream home at McLendon Hills is “designed for people who choose the country as their place to live…with stalls and a tack room, the tiered garden, the pond and pastures.  It literally sets the standard for country living,” says Jack Odle, Editor in Chief of  The Progressive Farmer.

The warm breezes of coastal Georgia influenced the building of HGTV’s Cumberland Harbour dream home.  The 3,000 square-foot, fully furnished home includes Victorian influences that harkens to a by gone era. A 230-foot, screened-in boat dock allows bug-free access to local waterways. “We want every Dream Home to have its own identity,” said Atlanta consultant Jack Thomasson, who contributed to the 2004 HGTV home.

Capitalizing on its 2004 dream home success at Cumberland Harbour, Land Resource Companies (LRC) was again honored to play host to HGTV’s dream house giveaway.  Currently under construction at Grey Rock resort in western, North Carolina – a mountain living community also forged by LRC – the 2006 HGTV dream home promises the same high quality and attention to detail as its coastal counterpart.  “I am very pleased that we had the opportunity to offer another community that is on the level of Cumberland Harbour”, said Bob Ward, President and CEO of Land Resource Companies, with respect to the 2006 dream home site.

Originally appeared in Living Southern Style Magazine, Winter 2006

Building Our Soul Around You

In an era wherein real estate prices have gone over the roof and you have much lesser time for your real estate investments and other realty purchases, Rainforest Holdings fervently believes in what we call as the CCC  "Customer Centric Consulting" Paradigm. All our constructions and projects have been thought of and conceived keeping the customer in mind and though it might sound cliched, it is true that we are obsessed with what the customers have to say, feel or think after the completion of the project. We aim to be the one-stop source for anything the customer might have in mind when it comes to realty. We also strive for that one single positive testimonial that has the power to make or break our brand in the highly- competitive market.

The Tag line for rain Forest Holdings goes " Built for Life" - There isn't anything fancy here except for the fact that everything we do, from the Idea, preparation, conceptualizing the Idea, The actual work, the quality of the materials used, the processes Implemented including the ones we have for our back-office run on the High-quality track. This is an almost monomaniacal obsession with the company from the very beginning. We believe that Homes are where Humans live and hence everything nook and corner, every recess and every shelf has been thought of earlier. it is almost like placing you there first and then building the home over you.

Rainforest Holdings has worked on projects which have some of the most beautiful, exotic, exquisite and breathtaking villas, apartments and resorts. As if the customer isn't pampered for choice, each one of these projects has seen some tremendous amount of work from qualified, experienced and dedicated professionals all working together to get you the quality we insist on so much.

Also, When we talk about real estate development projects, we usually come across developers who just finish projects and dump it onto us, well, we don't believe in that. In fact we are totally against it. We have been in this business for a long time and have amassed a lot of expertise in the same. We aspire to help our clients on an individual basis since we know that each customer has unique requirements. We help them in finalizing the paper work, follow the prescribed ownership norms, enable crease less transactions and keep everything simple, fair and easy.

Rain forest Holdings believes in bring a home to you. Every material laid out in our projects has been selected keeping customers and their requirements in mind. Every professional who had partnered with is or worked with us has been hand picked only when we were absolutely sure that he/she could do the job. Our villas, resorts and apartments aren't just brick-and-mortar. We had built them to be an extension of our heart-and-soul, an idyllic representation of who we are, what we do and how we do, to our esteemed clientele.