Guide to the Black Sea Coast

Introduction

Since the fall of communism, Bulgaria’s Black Sea coast has become a holiday destination favoured by visitors from all over Europe. Inevitably, second home buyers and investors have been flocking to buy property there in the last few years, enticed by low (but rising) prices and improving infrastructure and amenities.

The region

The Black Sea coast offers everything from bustling, family-orientated resorts to smaller, quieter places that appeal to the more mature visitor. It boasts numerous protected areas, nature reserves and Blue Flag beaches, with clear, tide-free waters that are perfect for swimmers and divers. As well as yachting, surfing, waterskiing, underwater fishing and other water-based activities, visitors can enjoy hiking, spa treatments and exploring the area’s rich history.

Before Bulgaria entered the EU in January 2007, its government spent large sums on improvements to roads and infrastructure. The Black Sea coast is currently a focus for public and private sector investment, including a well-publicised construction boom.

Climate

The coast avoids the bitterly cold winters of inland Bulgaria. In summer, the average temperature is a pleasant 26 degrees Celsius, with a sea breeze.

Getting there

Both Bourgas and Varna have international airports. Until recently, charter services were the only option for those travelling direct from the UK, but BA launched flights to Varna from Gatwick in 2006, and no-frills operators are also entering the market.

Property

When the Black Sea coast’s property boom first began, attention centred on the larger resorts. It is now spreading further afield.

Varna, Bulgaria’s third biggest city, in the north, and Bourgas, one of its chief fishing ports, in the south, are the main settlements. Currently, the northern areas are the most developed and attract the most international purchasers, but the south is on the up, with both Bourgas and Sozopol (another major fishing port) arousing interest.

The purpose-built resort of Sunny Beach still draws more holidaymakers and international buyers than anywhere else in the region. Set on a semicircular bay, against a backdrop of mountains, it has a sandy beach and an abundance of cafés, restaurants, shops and nightlife of various kinds. Watersports, tennis, riding and other outdoor pursuits are all available, and there’s plenty to keep children happy.

Approximately 36km northeast of Varna, Balchik presents a striking contrast to more modern resorts, with its narrow, cobbled streets and traditional stone houses. Strict building controls should ensure it remains unspoiled, despite the construction of a new marina development with shops and restaurants. Attractions include the largest botanical garden in the Balkans, a sandy beach and two new PGA-standard 18-hole golf courses, one designed by Gary Player and the other (due to open in 2007–08) by Ian Woosnam, both of which feature associated leisure facilities and residential complexes. Not surprisingly, the town has become a hub for international buyers.

On the coast, most of the properties available are new-build apartments and villas, many of which are sold off plan. Prices vary, but two-bedroom apartments in Sunny Beach and Balchik cost from around £50,000. Further inland, older homes requiring total renovation can still be bought for a few thousand pounds.

The growing number of golf courses should help to extend the season (traditionally May to October). Combined with improving transport links, this is good news for those with an eye on rental income.

Local life

You won’t have to go far for a burger or other international fare, but traditional Bulgarian cuisine and fresh seafood are also widely available. Shopska salad, made from tomato, cucumber and peppers topped with feta cheese and seasoned with olive oil and herbs, is one of the region’s signature dishes.

Opportunities to sample Bulgarian culture include folk evenings, floorshows and the Bourgas International Folk Fest, held each August. Don’t miss fire dancing, in which participants dance barefoot on glowing embers.

Conclusion

Although prices in this part of Bulgaria are no longer at the rock-bottom levels of a few years ago, they are still modest in comparison with those in established European holiday home markets. However, before signing on the dotted line, consider your exit strategy carefully; because of the volume of new construction, there may be resale issues, particularly in the short to medium term.

© Buy Associates Limited 2007

All circumstances vary. BuyAssociation provides general advice for guidance purposes only. It is strongly recommended that you seek professional advice before making any purchase.