UK tips Bulgaria capital, coastal Varna to be next overseas hotspot
December 12th, 2007
The Bulgarian cities of Sofia and Varna have been identified as potential overseas property investment hotspots by analysts PropertySecrets.net. Strong demand in recent years has allowed the country to develop a robust financial sector, making investment in Bulgaria easier than neighbouring markets.
Cheap material and labour in the Bulgarian property market allowed property to be built for a low cost, before being sold for ever increasing prices.
Buying off-plan in up-and-coming locations is a key trend in the Bulgarian property market. Most people are buying off-plan because with off-plan you know what you’re getting, more or less. This is largely due to the convenience of new property.
You can see the floor plans at home, you can see the pictures, you can see the location, whereas with the existing property you need to have it checked out a little bit more, you don’t know if the room sizes are going to be right and you need to go and visit it yourself, which is a bit difficult for a foreign investor.
