Black Sea Investment: Economy
Investors in Black Sea properties and land will be interested in the area's economic performance. Several countries including Albania, Georgia, Russia and Ukraine form part of the Black Sea Economic Cooperation (BSEC) Business Council whose main aim is to strengthen the economy in the Black Sea and improve its investment potential - this includes Black Sea property investment.
Black Sea investments in property have the additional advantage of growing economies. BSEC countries, such as Albania, Bulgaria, Romania and Ukraine, are all experiencing steady economic growth with the notable examples of Albania - inflation is under control; Bulgaria - recent annual GDP growth is over 6%; Georgia - foreign direct investment in 2006 increased by 52%; and Romania - economic growth rose by 88% from 2005 to 2006. These figures make positive reading for property investment in Black Sea.
Black Sea Investment: Tourist Potential
Black Sea investment is currently receiving a boost from the area's growing tourism figures. Within the destinations favoured most by holidaymakers are resorts on the Romania Black Sea and Albena and Varna (Bulgaria Black Sea). However, even less popular areas in the Black Sea have seen encouraging growth. Tourism for the area as a whole is predicted to increase by over 5% per year from 2008 to 2017. Sochi (Black Sea, Russia) has successfully bid for the 2014 Winter Olympic Games, which will greatly enhance the Black Sea property market. In general, the future for Black Sea property investment looks bright.
Black Sea Investment: Property Market
As the Black Sea countries are all emerging property markets, Black Sea investment potential is in its infancy. This means the potential for high capital gains from property in Black Sea resorts is excellent. Bulgarian and Romanian Black Sea property currently shows the greatest promise, but those considering a Black Sea property investment would be wise to also look at countries such as Albania, Georgia, Russia and Ukraine.
