Mortgage Loans for Foreigners Return to Bulgarian Banking Market

Real estate in Bulgaria has been given a boost with the news that mortgage loans for foreign nationals (as well as Bulgarians working abroad) have returned to the Bulgarian banking market. House Sales Bulgaria (http://www.housesalesbulgaria.com/) reports on the recent article in Bulgarian daily newspaper The Sofia Echo which states that these loans are back on the market due to "reviving demand, banks and credit consultants".

On July 13th, Bulgarian bank UniCredit Bulbank announced it had launched mortgages for foreigners and Bulgarians working abroad who could choose from a list of 22 Bulgarian real estate projects backed by the bank. This is an example of new requirements levied by some banks when offering these mortgages. Foreigners looking to buy Bulgarian property need not be disheartened by the thought of a lack of choice or sub-standard bank-funded projects. There is a wide choice of quality real estate projects which have bank funding, including some in Bulgaria's key resorts*.

The resorts in and around Sunny Beach continue to be in demand, two of which have seen particular interest from foreign purchasers: Aqua Dreams and Garden of Eden. Aqua Dreams is located between Sunny Beach and St. Vlas, offering both sea and nature views thanks to its beautiful positioning, just 100 metres from the coast and 500 metres from the resort of Sunny Beach itself. The resort boasts three swimming pools, wet bar, restaurant, caf-bar, shops and lush gardens and apartments with excellent facilities. Garden of Eden is an apartment beach village in the same region. This is a resort which claims to be a "destination in its own right" and its amenities certainly live up to this claim. The bursting list of features includes restaurants, shops, tennis courts, a boating pier, seven outdoor pools and a spa and fitness centre. The apartments are similarly impressive to those in Aqua Dreams and come with the option of a rental management package.

Resorts such as these are understandably popular with both holiday makers and those looking for a more permanent holiday home. This gives resorts such as Aqua Dreams and Garden of Eden a reliable opportunity for rental return and capital appreciation which puts them high on the wish list of real estate investors. The re-emergence of mortgage loans for foreign nationals will help more foreigners invest in their slice of these Bulgarian resorts.

For further information on the Bulgarian property market, visit http://www.housesalesbulgaria.com/.

*research should be carried out on each project to discern any bank funding.

Editor's Note: The Worldwide Group and House Sales Bulgaria (http://www.housesalesbulgaria.com/) is represented by the digital marketing specialists and SEO provider Jumping Spider Media. Please direct all press queries to Louise Byrne. Email: louise@jumpingspidermedia.co.uk or call: +44 (0)20 3070 1959 / +34 952 783 637.

Mortgage Loans for Foreigners Return to Bulgarian Banking Market

By: Jumping Spider Media

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