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'Bulgaria set to widen appeal to more investors'

Article Date : Monday, May 21, 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

Foreign investment interest in Bulgaria has been booted by the country's entry into the EU, one expert has said.

Andrew MacDowall, editorial manager of the Oxford Business Group in Bulgaria, said that almost a third of real estate sales in the country are made to overseas parties.

However, he said that although the UK and Ireland continue to remain interested in Bulgaria, other EU nations are less enthusiastic.

Mr MacDowall attributes this to negative press coverage about the alleged overdevelopment of properties on the coastlines.

He told the Sofia Echo that more and more nations are likely to invest in Bulgaria in the near future, especially if firms continue to invest in high-end developments.

According to the Times of Malta, a growing number of foreign investors will take advantage of Bulgaria's real estate opportunities as the country moves towards a more open economy.

Chris Grech, director of Maltese real estate company Dhalia Group, told the newspaper: "As a tourist destination, we feel Bulgaria's climate and natural beauty have made it a stronger destination at the forefront of foreign investment."

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