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Bulgarian cities offer 'safe gains'

Article Date : Thursday, July 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

Cautious property investors should look to infrastructure development in Bulgaria in order to capitalise, according to a property expert.

A lack of solid data on the Bulgarian property market makes it tricky for purchasers, Lance Nelson of Jet2Let claims, though he says the major cities like Sofia are experiencing good growth in prices.

An increase in businesses, such as call centres, that have started up in Sofia have bolstered the local economy and he reports a ten per cent rise in growth in the city over the last quarter.

Speaking to Easy.com Mr Nelson said: "With a global market for labour it is this IT sector that could be responsible for a disproportionate contribution to the wealth of the city.

"Large infrastructure construction projects and all property related sectors will continue to contribute to increased earnings and disposable incomes helping to fuel demand."

Property-abroad.com's director Les Calvert said that he would recommend Sofia and Varna for safer investments, as they do not depend on tourists for rental incomes, and cities where people live and work are more reliable.
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