Properties in Bulgaria - LewisK Properties

About Bulgaria

Bulgaria is a country of immense variety, both geographically and culturally. As a destination, the country has only received widespread recognition within the last couple of years. Many locations have yet to be discovered by international tourism.

The full potential of Bulgaria has yet to be recognised or achieved. With the economy growing at 6% per year and unemployment falling fast (just 12% currently), Bulgaria’s economy is quickly integrating into the EU prior to its 2007 membership. Inward investment continues apace with international organisations predicting continued economic prosperity for the foreseeable future.

Language:

The official language of Bulgaria is Bulgarian which is spoken by all the population. Bulgarian uses the Cyrillic alphabet (loosely resembles the more commonly known Russian language) as oppose to the Roman alphabet commonly used in Western Europe.

With EU membership it is a requirement that all public signage is displayed in the Roman alphabet as well as the local Cyrillic. Foreigners visiting Bulgaria will therefore experience limited problems navigating and interpreting signs. In addition to Bulgarian, the younger generation in Bulgaria all learn English in school. Visitors to Bulgaria will therefore find the English language is widely spoken by the local population. In tourist areas almost all the local population will speak fluent English, additionally many menus, forms etc. will also be translated due to the number of visitors to these areas.

Currency:

The official currency of Bulgaria is the Lev. The Lev exchange is now fixed against the Euro as part of the EU membership process. After EU membership in 2007, Bulgaria will adopt the Euro currency and the Bulgarian Lev will be phased out completely, this process is expected to take place in 2009 or 2010.

Since the fixed exchange rate was introduced, many more expensive items have been priced in the more widely recognised Euro currency. This includes but is not limited to property, cars, white goods and even some salaries.