Bulgarian property market still valuable for savvy investors

Bulgaria remains a good location for property investment, despite the fact that there has been a slowdown in the market.

That is according to Chris Northam, managing director of Balkan Holdings, who maintained that Bulgaria is "still a valued destination" for experienced investors.

He asserted that the slowdown in the country's property market was linked to the wider economic climate.

Mr Northam commented: "[The slowdown] is more due to the macroeconomic side of things; there's a credit crunch going on, which is quite severe and getting worse."

He went on to say that, as the pound against the euro is "at a virtually all-time weakness", property in Bulgaria has become 15 per cent more expensive than it was last year.

He added: "But that doesn't have such an impact on the cheaper, rural properties, where you're looking at [spending] anything up to 50,000 euros.

"[Bulgaria is] very much still a valued destination, if you know where to look and you know what you're doing."

Overseas Property News posted on 03/04/2008 09:33:05