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Luxury property in Bulgaria 'has longevity'

Article Date : Thursday, April 12, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Investors are increasingly snapping up luxury properties because they have the longevity to appeal to other buyers in secondary and resale markets, according to real estate company MRI Overseas Property.

UK buyers should also consider more luxurious properties in Bulgaria as a solid rental investment because the nation is already becoming an established holiday destination, said the firm.

Investment is also more favourable now that the EU is investing heavily in local infrastructure.

Charlie Lambourn Brown, exhibitions marketing manager, said: "We believe that Bulgaria offers investors potential as a rental market, but also in time a well established holiday and in the long term a lifestyle destination.

"However as with any overseas purchases clients should do their research into the local area and the type of potential clients they would attract before committing to the property purchase."

Capital growth in Bulgaria has risen by 17.3 per cent over the past year, according to a study by property investment group Assetz.
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