The Bulgarian property renaissance

The latest property hot-spot attracting thousands of ordinary British investors is Bulgaria.

Bulgaria, a former Soviet satellite state, is already a fully-fledged democracy with a vibrant free economy. A member of NATO since 2004, Bulgaria is due to enter the EU in 2007.

Now Bulgaria is being discovered - a country of contrasting landscapes, ancient traditions reflecting its rich cultural heritage, with an excellent climate and an incredibly low cost of living. And only a three-hour air flight from London.

Many are attracted by the Black Sea coast, always a prime holiday destination. Increasingly interest has turned to winter ski resorts like Bansko and Pamporovo. Of course, Bulgaria’s capital Sofia also offers unique advantages for the property investor, with suburbs like Boyana so close to the ski-slopes of Mount Vitosha.

ALLURE ESTATES

Allure Estates is a young, London-based Real Estate company specialising exclusively in off-plan developments. It is a ‘one-stop’ service for prospective investors in Bulgarian property, seeing the client through every stage of acquiring the property of his choice, assisting him also to rent it in and out of season.

Allure Estates pro-actively pursues the investor’s interests, giving the best advice on every aspect of his investment in Bulgaria. Mortgages and finance, insurance, property management on the clients’ behalf, legal questions - nothing is outside the orbit of Allure Estates’ service to the investor.

Visits are organised to Bulgaria for prospective clients. As an ‘off-plan’ specialist, Allure Estates sees that its clients are regularly informed about the progress of their properties.

SKI RESORTS OR BLACK SEA COAST... OR SOFIA?

Allure Estates has a large and varied portfolio of ‘off-plan’ properties to suit both the preferred location - and the budget - of each client.

Allure Estates offer apartments located along the extensive, broad sandy beach around the highly popular Sunny Beach, between the principal coastal cities of Varna and Bourgas (both served by regular and charter flights in the summer season).

At Rogachevo, near to stylish Albena, Allure Estates exclusively proposes custom-designed villas, the utmost in refined taste. Close to the charming resort of Sozopol, a number of fantastic, but quite affordable seaside apartments await discerning buyers.

Bulgaria is fast becoming Europe’s most popular winter sports destination, with ski-resorts like Bansko, which hopes to host the Winter Olympics in 2014, and Pamporovo. Allure Estates closely cooperates with developers in both places. In Bansko, new developments will appear shortly on the market. In Pamporovo, Allure Estates is the agent for the Orpheus Valley appartment complex, a stunning gated community in two main blocks, very close to the ski-slopes.

Just ten minutes car-ride from Sofia city centre, Boyana, at the foot of the ski-slopes of Mount Vitosha. Allure Estates proposes a group of five very well appointed family residences.

THE INVESTOR

Allure Estates’ clients comprise an eclectic group of discerning investors, who have already signed contracts for off-plan properties in all the above-mentioned locations. The appreciation in property values has already gone up by as much as 30 percent in the past year. An increase of about 30 percent is quite likely within the next year. This speaks of itself and explains why Bulgaria has become the current favourite choice for property investors not only from the UK, but also Ireland, Germany, Greece and other EU countries, anxious to secure a base before the magic date of 2007, when Bulgaria joins the EU.