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Mission Impossible?  Heather at a Rennaissance style property
 
Number of
Days in Bulgaria:               5
Kilometres driven:          700 
Hotels stayed in:                4
Airports visited:                 3
Wines tasted:                     No comment
Bulgarian phrases learned:  7  


I love a challenge, and when a business friend suggested a whirlwind tour of Bulgaria to get to know the country, its culture, land and new home opportunities, I jumped at the chance.

First hop was by Easyjet from Gatwick to Sofia.

I arrived late in the evening in typical English weather (wet) and was offered a delicious Bulgarian pastry snack filled with cheese and spinach baked by my friend’s aunt, which went down very well.  Heather at the BalPEX Conference

The following two days, 15-16 April, I attended the Balkan Real Estate Conference held in the Kempinski Hotel Zograsfki in Sofia.  The event was organised by the Balkan Property Exhibition – BalPEx, with its international media partner the Financial Times

The conference was a mix of panellists and moderators debating important issues such as Structural and Financial Aspects of challenges and solutions to growth in the Balkans, the Office/Retail Property/Industrial/Residential and Holiday Property Markets with some interesting questions from the floor.  It was an excellent way of networking with developers and editors. 

Many of the issues were topical - considering the current market conditions in the UK – and included a discussion relating to landowners’ expectations concerning their land value which was not matched by corresponding rental incomes.  Landowners were not always investing in their land to get the best price and zoning and planning application issues were hotly debated.  It was recognised that infrastructures were below par and there was a requirement for the municipalities to show vision for the future.

Fact finding - Bulgaria:

• Bulgaria has experienced 6% growth compared to Europe’s 2.8% over the past year.
• It has access to markets, low cost base, low taxes (10-16%), financing not affected by the credit crunch as in USA/UK and its stable currency – should we be considering investing in Bulgaria? 
• The average mortgage in Bulgaria is Euros 40,000.
• Red tape – bureaucracy and complicated property registration where buyers have been caught out.

My highlight of the conference was a passionate presentation given by David Sim of Gehl Architects who expressed his concern regarding passive behaviour towards Public Open Space (see GAD Spain playground for adults).  He argued that "Helicopter" planning had given rise to haphazard planning at street level, in effect making towns nothing more than parking lots. He extolled the virtues of Venice where all senses are catered for – water, walking, etc, compared to the invaded cities (eg Paris, Istanbul, Sofia). ‘Reconquered cities’ such as Barcelona, Melbourne and Copenhagen bear witness to putting constraints on cars to recognise public life and living.

He put forward the argument of ‘Parking lots v People squares’, also stating the need for iconic buildings so people have a reason to spend time there.  In conclusion, public space is good for business and real estate.

After the conference, we drove to the Black Sea, some 450 km away, seeing some spectacular scenery along the route.  We stayed in the Hotel Bulgaria in Bourgas. 

Mid morning the following day, we drove south towards Sozopol, which lies on a tiny peninsula in the Black Sea with a golden sandy beach and had the most delightful interlude at the Selena Beach Hotel.  There is an abundance of excellent restaurants serving fresh fish and my favourite dish has to be the Shopska salad passionateaboutfood.net/bulgarian.php, a simple blend of ingredients including onion, cucumber, tomatoes and feta cheese.  Nessebar Marina

The following day we viewed development sites, potential building land, and saw new roads and dual carriage-ways to serve the communities. We headed towards the Turkish border, prior to which we were stopped by border guards on a usually quiet road close to Sinemorets. I even caught a glimpse of the Turkish flag flying across the border!

I was interested in viewing buildings from the Bulgarian Renaissance period, which are popular. In many Bulgarian cities (such as Plovdiv and Nessebar) there are whole neighbourhoods with houses from the 18th and 19th century. They are often popular among tourists because they represent the unique Bulgarian architecture from that time. The houses are usually with two and sometimes three floors, as well as a basement that is us Heather at Nessebar Churched for storing goods.

A second night was spent in Sozopol and after a breakfast meeting with the local Estate Agent, we made our way north to Nessebar , Byala , Varna passing numerous small towns and villages on our way.  My companion, who had spent many of her early years holidaying in Bulgaria was overwhelmed by the amount of new building and construction taking place.

In Varna we stayed at the 4 star Hotel Divesta, a stone’s throw from the town centre and the impressive 19th century Cathedral of the Assumption of the Virgin, designed by Maas, an architect from Odessa. It is an imposing landmark at the city centre and is one of Varna’s symbols.

My flight back to the UK was with British Airways from Varna airport. 

With flights to Bulgaria taking 2.5–3 hours, Bulgaria provides an alternative to popular destinations such as the southern areas of Spain and Portugal, and also at a fraction of the price.  I had excellent wines and food, mainly grilled meat and vegetables all sourced in Bulgaria.  The countryside is varied, with opportunities for golfing, spa holidays, skiing and of course, beach holidays.

Have you bought property or land in Bulgaria? Please write and tell us of your experience.

 

 
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