Maltese investing in property in Bulgaria

Maltese investors are buying holiday apartments on Bulgaria's Black Sea coast or at a ski resort for half the price of a similar property in other parts of Europe.

Bulgaria joined the EU this month and it is anticipated by property specialists that property developments would increase. Interest among Maltese developers planning to invest in this country is increasing.

For this reason bestmaltaproperty.com has set up a Bulgarian investments section on its Website. Potential investors can now easily decide if it's feasible or not to invest in this country.

Bansko is the most sought after area at the moment, with a new luxury development consisting of studio apartments and three-bedroomed apartments, ranging from 30 m2 to 125 m2, including a basement and underground car park, at around €30,000.

Vitosha Boulevard in the Bulgarian capital Sofia has been ranked among the world's top shopping destinations. Sofia will soon have a run for extreme skiing and snowboarding and at present there are golf courses in Elin Pelin, near the capital, one at Ihtiman and another in Sliven.

Business opportunities in Bulgaria are endless, real estate and land prices are extremely low when compared with western European and most eastern European states and the harmonisation of Bulgarian legislation with that of the EU means that the actual process of a property transaction in Bulgaria is not that much different to the procedure in Malta.

"Last year was a great year for Bulgaria's property market and this year is expected to be ripe with opportunities" said a bestmaltaproperty.com specialist.

Property in Bulgaria property is still gaining momentum. The number of foreigners buying property in Bulgaria last year rose by 70 per cent on the previous year.

As the demand for Bulgarian property rises, estate agents advise Maltese investors to spread their options, but is it better to put all their eggs in one basket?