September 8th, 2008 by Bulgarian Properties in Travel Bulgaria
We found this place by chance. We were looking for a place to spend some days on the seaside and tired of going to Nessebar we decided to go to an agency and see what they offer. I wanted a calm spot without crowds and she offered us Arkutino…
The day had come so we collected the luggage and the three of us drove off early in the morning. I’m always skeptic about seaside holidays so that time the feeling wasn’t different. We reached Bourgas and drive to the road to the town of Sozopol as they had told us the hotel was on the road between Sozopol and Primorsko.
It wasn’t difficult to spot the place as the entrance of the complex was just on the right side of the road. We entered and parked the car – there was enough space for all the guests. Then we went to the reception and they gave us the key to our room. The hotel was small and the room itself was quite small for the three of us but everything was clean and the thing that impressed me most was that I could see the sea and the dunes of the beach.
My son is always in a hurry to take his first sunbathing so we went to the beach before we had unpacked our entire luggage. It was just 2 min walk across the dunes and we were on the beach. It cast a spell on me immediately – the sand was golden, there were few people on the beach and I felt like in paradise. The dunes behind us were covered with amazing plants – greenery on the top of them and sand lilies here and there.
Later on I learnt that the region is one of the National reserves in Bulgaria as there were great variety of rare plants and animals. I cannot tell you exactly their names but the unique beauty and serenity of the whole place is overwhelming. I’m a person that is more due to criticism but on that beach I was feeling in peace with myself and the entire world around me.
We spent most of the time on the beach having our lunch there although there was a restaurant near the beach. One evening we went on the beach and had a picnic. The sunrise, the sound of the waves coming and going back, the views revealing towards the Snake Island – everything was so serene and peaceful that I hardly can find words to describe the feeling. One has to experience it…
Next days we got to know that the Arkutino Swamp was just on the opposite side of the road so we went there one afternoon. Water lilies swans and unique plants….
That was my best summer holiday I have ever spent… it was some years ago. We keep on going there every year and I always pray that the place has still remained the same. Recently the price of the rooms in the hotel has risen so we go to Primorsko, find a hotel that we can afford and every day we travel to our place in Arkutino. It’s really worth because for me this is a magical place, a piece of heaven brought for us on Earth.
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September 7th, 2008 by Bulgarian Properties in Bulgarian Properties
The increased interest towards Bulgaria as a holiday destination and the boom in the Bulgarian properties market has firmly put Bulgaria in the European property market map. Compared to other European popular holiday and property destinations Bulgaria offers outstanding value for money.
Bulgarian properties prices for new developments range between €50,000 to €80,000. Houses inland sell for €20,000 to €40,000. The main attraction in investing in Bulgarian property is still the capital growth. In 2004 Bulgaria had highest property capital growth in the world - a nationwide average of 48%!
Bulgarian property investments growth, even though at slower rate, will continue in the next few years. At the same time Bulgaria still is a fractured and immature rental market. The process of buying a Bulgarian property is relatively straightforward. Maintenance, repairs and building work is inexpensive if carried out properly. Below you can find out a quick cross-section of the other property markets in the Balkan region:
Turkey - good value and political uncertainty
Romania - still to come
Cyprus - good things don’t come cheap
Montenegro - too small
Croatia - is it overpriced?
Greece - very nice and very expensive
September 3rd, 2008 by Bulgarian Properties in Bulgarian Properties
Bulgarian properties market trends research, carried our in June by the Industry Watch Group, about the Bulgarian property market trends in 2005 has concluded that the Bulgarian property investments market is entering a process of stabilisation and segmentation. Bulgarian property development has been the most profitable business in Bulgaria in 2004.
On average property prices in Bulgaria, during 2004, have grown 48% (!!!). This was the highest property market growth in the world. For the Bulgarian capital Sofia, the growth was 26%. Some Bulgarian property market segments have experienced growth several times higher than the national average. Sofia property prices have grown with 11.3% for Q4 2004 and are stabilising during 2005 at about 10-11%, around €700 - €1,000 per sq.m. Similar is the pattern for Varna and Burgas is slightly lagging behind. The highest growth in 2005 is expected in the small regional centers.
The main driving force for the Bulgarian properties prices growth is the credit expansion of Bulgarian banks, now offering accessible mortgages to everyone. The growth in mortgages underwritten in 2004 is 150% reaching BGL1.0 billion (€0.5 billion), which is 2.7% of the GDP. This, however, is still significantly lower than the average European or American levels, so this trend will continue during the next few years. Interest rates have gone down with 1.59% on average during Q4 2004 and are now comparable with their European counterparts.
Another factor fueling Bulgarian properties market boom is the strong Bulgarian property investments from Bulgarians living abroad (about 1 million from population of 8 million), as well as foreigners. During the last 4 years these investments grew from €14 million in 2001 to ?123 million for Q1-Q3 2004, which is 11.4% of the Bulgarian property market. This effect is further increased by the monthly transfer of €100 million from Bulgarians living abroad to their relatives and family, part of which is reinvested in the Bulgarian property market.
According to the study the prices have reached relatively high levels in the big cities (€800 - €1,400 per sq.m.) and will enjoy a more moderate growth during 2005. The bank crediting will continue to grow, sustaining the property market growth, until reaching European levels. The continued interest in investing in the Bulgarian properties market from foreigners and Bulgarians living abroad will continue to affect and sustain the price growth.