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Long-term investors 'could see results in Bulgaria'

Article Date : Thursday, March 22, 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

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

The study reveals that much of the growth has occurred in minor locations where prices are catching up with the major tourist hotspots. Nonetheless, Bulgaria's capital, Sofia, has seen prices grow by 9.8 per cent.

Assetz also said that Bulgaria's rental market is still "fairly risky", with average yields around five per cent.

However, the firm said that because prices remain low and deposit levels have fallen by ten per cent in recent months, investors who take a long-term view are in a position to do well if they accept short-term income losses.

Assetz also said that Bulgaria could face a slowdown in capital growth over the next few months but added that this is "still a long way off from falls in house values".

Earlier this month, Paul Collins, property editor of BuyAssociation, said that 2007 will be a "key time" to discover whether those who have invested in Bulgaria will make a profit.
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