Bulgarian accession to the EU. The green light for the serious investor?
Bulgaria has recently met all the causes and articles for accession to the EU. Full entry is scheduled for early 2007. The country will immediately benefit from worldwide acceptance and a massive investment from the European Community.
Bulgaria is at present a relatively poor country. The average monthly wage is just 280. Membership of the European Community will ensure that the transportation network, domestic and commercial utilities sector, labour rates as well as the fiscal and banking systems will all be brought into line to mirror their more prosperous European neighbours.
With the increasing prosperity, along will come the private and corporate investors eager to cash in on the country’s new found wealth. Over the past three to four years, Bulgaria has seen consistent rises in the property market between 20 to 30%. A few pioneering investors have taken advantage of this increase but have tended to be either the long-term corporate investor or highly speculative property gambler.
Entry into the European Union have seen the property prices of new member countries...