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Bulgaria 'getting better'

Friday, Nov 27, 2009

Bulgaria is offering investors some promising prospects, it has been suggested.

According to Property Abroad, evidence that the market is emerging from its slump has arisen in the form of Russian investors snapping up bargains in tourist resorts.

Commenting that the country's property has "always" been among the cheapest but suffered from an oversupply situation in the past couple of years, the portal stated that this situation should even out between countries, as other nations also have oversupply issues.

It listed coastal locations such as Pamporovo, Dobrich, Yambol and Kavarna as places with plenty of investment potential, noting that some lots could be bought for as little as £7,000 and can be turned into buy-to-let homes, provided buyers have the time to renovate them.

Such purchases should be undertaken as long-term prospects, it was advised.

Buy Association recently tipped Bulgarian prices to start rising again as early as next year.

However, its recommendation was for buyers to focus on long-established towns and villages instead of coastal resorts.

Source: Propertyshowrooms.com