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Bulgaria Property Boom |
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Fri 21st Mar 2008 
The exotic Eastern European country of Bulgaria has seen a massive 30% increase in property deals concluding in December compared to the same time last year, reported a local newspaper. And yet there seems to be no sign of the property investment market slowing hugely despite some of the recent press coverage.This success was noted to be primarily due to a higher tax evaluation from January 2007, and fewer development schemes being offered. The average property price increase over the whole of 2006 was 15% with those bought for investment showing the highest increases, some as much as 50%. Expectations were that 2007 would show a steady rise of 10% over the year as development began to slow down to meet the demand. Bulgaria’s adoption into the EU from 1st January 2007 is expected to further stabilise prices which will ensure better returns and more security for the overseas property investor. In addition to that, the six billion Euro investment that Bulgaria is expected to receive from the European Union structural funds will be invested in the countries infrastructure, increasing accessibility to the rest of Europe and further encouraging growth and tourism. Early investors have reaped the rewards of this expanding country and the trend is set to continue. Investors are advised to research and select locations wisely to secure their investment, with the golf and ski locations featuring highly amongst the most popular. Further information can be found here : |
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