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Sofia 'offers good prospects for Bulgarian investors'

Article Date : Monday, September 17, 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

The Bulgarian capital Sofia could offer better investment prospects than coastal regions, according to an expert.

Simon Tweddle, chief analyst at Property Secrets, suggested that people hoping to generate money from investing in Bulgaria ignore the coast as it was less lucrative.

While cities had millions of potential tenants on hand all year round, he said that holiday and beach resorts depended on seasonal factors such as the tourist trade and the weather.

Furthermore, he said that many coastal regions had an excess of property currently available on the market.

Mr Tweddle said: "If you invest in the city you've got more than two million people who can potentially rent your property from you."

This comes after Balkan Holdings recently recommended that prospective investors in Bulgaria opt for existing housing stock, as the available supply of off-plan properties outweighed the level of demand.

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