it comes to investing in property abroad, the top destinations for
British expats are Spain, France, Australia, USA and New Zealand.
There are 200,000 Britons living in France and an astonishing 800,000
have migrated to Spain. The best value worldwide holiday destination
for Brits is Bulgaria and there are currently around 2,000 Brits
living in Bulgaria and increasing rapidly. 20,000 UK citizens bought
land in Bulgaria last year and Bulgarian land prices increased by
over 145% in the last 2 years. There have been numerous cases in
Bulgaria where land holdings have produced a 500% return in just
a few years. The world trade organisation forecasts that by 2010
Bulgaria will be visited annually by 20 million tourists –
the forecasts make Bulgaria one of the world’s most promising
international tourist destinations. It is important to note that
Bulgaria is just under half the land area of the UK- which is roughly
the size of England and has a population of around 7 million people
whereas the UK has a population of around 70 million. There is not
enough competition of airlines as yet travelling to Bulgaria- but
this will change due to the above demand and prices will reduce
from an average current £200.00 return ticket which is double
that of Spain for example. There is also the problem of the so called
white flight scenario where record numbers of westerners are flying
to Bulgaria which causes flight price problems.
According to MRI Overseas Property, one in seven Britons
thinking of buying a property abroad will consider the country of
Bulgaria. The magazine Quest Bulgaria features couples
making new lives in Bulgaria. “In time, the investments British
and Irish buyers have made in new-build homes will come very good.
I imagine many Bulgarians will come to Britain looking for work,
but many Britons are intent on living in Bulgaria. We were thinking
of buying a holiday home in southern Spain but have been discouraged
by the amount of building work on the Costa del Sol. It's a much
nicer way of life here with good weather and it's safer for our
children”. This is a typical quote from expats living in Bulgaria.