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Things begin to move in Bulgaria

Friday, Apr 30, 2010

Real estate in Bulgaria is beginning to enjoy some much needed attention after recent figures show that mortgage sizes are on the increase as wells as the volume of sales.

Banks within the country are working well in favour of investors looking for property to buy in Bulgaria by now providing letters of mortgage pre-approval as well as easing borrowing rates. Creditcentre, the financial experts, have produced figures that show February lending rose by 9% on January and that the average mortgage size was up by 4000? in the same period.

Tourism in the country is also improving with an 8% increase on the same period in 2009. There are plenty of industry experts now urging UK investors to reconsider investment property in Bulgaria, especially property that has been brought to the market by UK expats as these tend to have benefited from good renovation.

With improving tourism, and dominating Russian investment, the interest in Bulgaria could become very keen very quickly, given today’s property values.

Source: propertyworld.com