Real estate in Bulgaria is becoming increasingly popular

Bulgaria is a country on the move, and it has made great strides in recent times. While Bulgaria has a population of only 7 million, it has become a major tourist destination, receiving over 8.2 million foreign tourists in 2016. The numbers for 2017 are expected to be even better.

The Bulgarian economy has grown rapidly, recording a GDP growth rate of 3.5%, which is one of the fastest in Europe.

So, what impact does the growth of tourism and the rapid economic growth have on the real estate market in Bulgaria?

It should be noted that the overseas property market of any country is directly related to its tourism industry. Any country that has a thriving tourism industry will have a high demand in the overseas property market. This is the case with Spain, Portugal, France, Cyprus, Barbados, and it is exactly the same with Bulgaria.

Bulgaria has undergone many changes since the early 2000s. In recent years, Bulgaria has seen major changes in infrastructure. All of the country's popular attractions, beach resorts, winter resorts and exotic places are now connected by new roads.

There are currently three world-class airports in Bulgaria, in the capital Sofia, the southern city of Plovdiv and the city of Burgas. This means that Bulgaria is now accessible from all major cities in Europe. There are, for example, numerous flights connecting Bulgaria with the UK, Ireland, Russia and Germany.

There is a huge demand for holiday homes in Bulgaria's major seaside and ski resorts such as Sunny Beach and Pamporovo. The influx from Ukraine in particular is very high.