Established in Luxembourg in 2008, Icon Capital Sarl is a limited liability company that manages private securitization funds for individuals and organizations. Icon Capital Sarl focuses its investment activities on the global monkey market, emerging broadcasting technologies, and real estate investment opportunities in the Balkan countries.
Recent investment trends indicate significant growth in Bulgaria’s real estate market, specifically within its tourism sector. According to property consulting firm Cushman & Wakefield, real estate purchases by foreign investors generated 239 million euros for the Bulgarian economy in 2014. Experts project that this demand will continue throughout 2015.
Much of the increased investment activity has taken place in Bulgaria’s tourism real estate market, following the country’s growing popularity as a destination for European alpine vacations. In winter 2014, over 80,000 guests visited alpine resorts in Bulgaria, adding $17.5 million to its economy. Simplified visa requirements contributed to a 30 percent increase in tourism from Turkey, while Bulgaria welcomed 17 percent more visitors from Germany. Bulgaria’s unique location allows for not only affordable family ski vacations but also beach getaways. This versatility has led many foreign investors to target resort properties that can offer consistent revenue as the tourism sector continues to grow.
In addition to tourism, the 2008 global financial crisis played a role in spurring Bulgaria’s real estate market activity, as it resulted in significantly lower property prices. In this way, the country’s active real estate investment sector also reflects a returning sense of investor confidence in the Bulgarian property market.