Brits investing in Bulgaria

Property investment in Bulgaria is increasing, as it catches up with France and Spain as one of the UK's most popular retirement destinations.

According to Saga, a service provider to the over-50s, Bulgaria has become increasingly popular for British pensioners emigrating abroad as a result of its relatively cheap house prices and newly acquired EU membership.

Research carried out in 2006 by the Institute for Public Policy Research Almost one-in-five of British pensioners overseas are located in Australia while the USA, Spain, Ireland, Canada and France make up the five other top retirement destinations.

"There is some evidence to show that less likely destinations are becoming increasingly popular for example Bulgaria," said Lisa Harris, spokesperson for Saga Travel Money.

"Probably driven by the fact that they have recently joined the EU and house prices, whilst rising, are still extremely low - so it's still possible to get a bargain."

Bulgaria, along with Romania, joined the EU in January 2007 and has since seen a vast increase in property investment from abroad.

Overseas Property News posted on 23/06/2008 16:56:06