Sofia – the capital of Bulgaria lies at the foot of the Vitosha and Lyulin Mountains, forming the centre of the country’s political, business and cultural life.
Founded over 7,000 years ago around numerous hot and cold mineral springs, Sofia is one of the oldest settlements in Europe. Despite its modern, cosmopolitan nature, Sofia has a laid back atmosphere and the proximity of Mount Vitosha, offering numerous recreational opportunities on the city’s doorsteps, adds to the relaxed feel of the city.
Sofia boasts a wealth of museums and galleries, and offers an abundance of multicultural entertainment. Favourable taxation, low labour costs, a well educated workforce and the lowest operational costs in Europe make Sofia an attractive destination for outsourcing and new businesses.
The billions of Euros committed to the development of capital’s infrastructure will further boost the attractiveness of Sofia to local, national and international companies.
The capital Sofia is particularly favourable to buy-to-let investors as it offers all year round rentals from the corporate market with tenants offering attractive rental yields. Sofia boasts the 3rd highest rental annual yields in Europe at 10.56% with regions in the south of the city commanding the highest rents. The most active rental markets tend to be foreign workers and longer term tourists. The influx of large multinational corporations and state-owned organizations moving into Sofia look set to ensure that demand for residential property will remain strong throughout 2007 and beyond.
