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Bulgaria now "much more secure" for investors

Article Date : Wednesday, June 20, 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

Bulgaria's accession to the European Union has ensured that the country's property market is far more secure for investors, one expert has claimed.

Justin Figgins, head of RightmoveOverseas, claimed that demand for property is expected to increase as the country experiences high levels of foreign investment following its membership to the union.

"Bulgaria is currently one of the best performing markets in the world, with properties in the most popular areas in the country having risen in price by 40 per cent in 2005 and 20 per cent in 2006," he commented.

Economic stability and EU membership ought to see lower interest rates and more affordable mortgages, he added.

A survey by MKB Unionbank found that UK investors were becoming increasingly interested in purchasing property in Bulgaria, the Sofia Echo reports.

In response to this demand, the firm launched a mortgage service aimed at foreign citizens looking to buy houses and apartments.
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