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Bulgarian property market still valuable for savvy investors

Friday, Apr 04, 2008

Bulgaria remains a good location for property investment, despite the fact that there has been a slowdown in the market.
That is according to Chris Northam, managing director of Balkan Holdings, who maintained that Bulgaria is "still a valued destination" for experienced investors.
He asserted that the slowdown in the country's property market was linked to the wider economic climate.
Mr Northam commented: "[The slowdown] is more due to the macroeconomic side of things; there's a credit crunch going on, which is quite severe and getting worse."
He went on to say that, as the pound against the euro is "at a virtually all-time weakness", property in Bulgaria has become 15 per cent more expensive than it was last year.
He added: "But that doesn't have such an impact on the cheaper, rural properties, where you're looking at [spending] anything up to 50,000 euros.
"[Bulgaria is] very much still a valued destination, if you know where to look and you know what you're doing."

Source: www.choices.co.uk