Property is really one of the only well documented and proven areas of viable investment, over the years most of us have enjoyed seeing how well our investments have paid off. Taking a look at overseas investment the conventional Spanish, French marketplace has become more and more difficult to get involved in due to price and availability, which is why if you are thinking of dabbling in a small but viable overseas investment you should take a long hard look at the growing markets of Eastern Europe.
The Bulgarian Black Sea coast line is as an example of one these prime areas; in the last two to three years it has seen growth year on year and is still a fast and dynamic marketplace. Property purchases by foreign investors have tripled over the last year and this year we see no sign of slowdown. One of the main and exciting areas of speculative growth is found in the potential of Off Plan investment.
Definition: - “Off Plan – Where a property is being bought at the planning stage and is yet to be built.”
There are many examples of these types of developments taking place dotted all over Bulgaria, we at BSP have ourselves recently launched www.bulgariaoffplan.com as a vehicle to bring to the attention these opportunities to prospective investors. The ability to spread the payment schedule is one of the biggest attractions, the purchaser can buy today and literally pay tomorrow, during which time they can see the value of their investment increasing day by day.
However, Off Plan must be entered into carefully, making sure you do your research on the company, check out the area, the amenities, resell values and possibly the “local plan” if available. All of these simple but important checks should be gone into prior to signing on the dotted line. In general terms Off Plan is a fabulous opportunity for all investors, but for the first time investor it offers a great first step onto the property portfolio ladder.
