Foreign property investors in Bulgaria head for cities|
2008-02-01 09:15 News from propertywisebulgaria.com
More and more property investors are attracted to Bulgarian cities rather than its traditional seaside and mountain resorts, reports Balkan Holdings Plc.
Sofia and its suburban areas, as well as large regional centres, like Plovdiv and Varna, have recently become very popular with foreign real estate buyers.
Bulgaria’s ski resorts have become less attractive with investors due to over-construction, Chris Northam, managing director of Balkan Holdings Plc, suggests.
"If you`re going there on a ski holiday, you`re skiing partly on a building site. That`s symptomatic of it being a new destination,” he says, adding that the Bulgarian property market is seriously jeopardised by over-saturation. “There are too many establishments, built in haste, without much insight and resources and earmarked for infrastructure development. Some people might be put off by this,” he commented.
House prices in Bulgaria rose by 7.5 per cent in the third quarter of 2007, according to the National Statistical Institute.
This News is listed at news.Guide-Bulgaria.com
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