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Bulgaria News
Bulgaria has been named as the world's best-value destination, according to a report by Teletext-Holidays.
 
In a survey of the twenty cheapest places for holidays it came first, ahead of Morocco, Tunisia and Egypt. On average, a pint of beer in Bulgaria costs 49p, a double room in a 3-star hotel costs £45 (on b&b basis), a 3-course meal costs £7, a return flight from UK costs £58 and the average taxi fare is £1.45.
 
Bansko
Bansko
 
 
Bulgaria offers the same tempting investment opportunities that used to be found in southern Spain twenty years ago.
Bulgaria was a tourist destination for decades among holidaymakers from the old Communist block so the basic infrastructure is good, and now apartments of sufficient quality to attract Western markets are popping up all over the place. The old Black Sea resorts were just blocks around a swimming pool. Now developments such as the Diamond Resort in Sunny Beach, have a gym, beauty centre, internet café, even an Irish bar.
Bulgaria joined the EU last year and is bidding for the 2014 Winter Olympics. The government has invested €20m to build up an infrastructure of European standards. The United States is pouring in money too, having targeted Bulgaria as a strategic base for the Middle East. A new tourist airport is being built to serve the ski resorts of Bansko and Borovets.
All the major UK tour companies, including Thomson, Thomas Cook and First Choice, now offer package holidays to Bulgaria and budget airlines such as EasyJet are eyeing up the possibilities of adding it to their destination list. Visitors to Bulgaria are increasing by 30 per cent every year, which is a real reason to need new accommodation.
Besides Black Sea resorts such as Sunny Beach and its more upmarket neighbour Vlas, the capital, Sofia, and ski resorts Bansko - a world heritage site - and Borovets offer tempting investment opportunities.
Bulgaria's ski resorts are a prime area for investment. "Bansko and Borovets are ski resorts of international standard with beautiful undeveloped mountain ranges and wilderness perfect for hiking and fishing, so there's a year-round market. Golf course are also being built to cater for the worldwide interest in this sport.
So who is buying in Bulgaria? Many people who bought second homes in Spain or Italy have sold up and invested in Bulgaria instead. The Spanish costas have reached saturation point and it's no longer a cheap country. In Bulgaria the cost of going out is negligible and money goes a long way.
If you decide to invest, you would be recommended to do a lot of research. There's a higher risk than other places because it's new. Some developments look good on paper but in reality are a long way from the beach or in unattractive surroundings. Further south around Sozopol and towards the Turkish border, it is less developed and the roads are bad. You really need to be within 45 minutes of the airport.

If you missed out on making your million in Spain 10 years ago, buy in Bulgaria now and reap similar rewards. Its not just an investment bubble.

 

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