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Consider luxury homes in Bulgaria, says expert

Article Date : Monday, March 26, 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

Overseas luxury properties are becoming more attractive to British investors because they offer long-term profits, one expert believes.

According to Charlie Lambourn Brown, exhibitions marketing manager for MRI Overseas Property, high-quality properties in countries such as Bulgaria appeal to future secondary and resale markets.

Mr Lambourn Brown said that it is worth considering more luxurious properties in Bulgaria because they have potential in the rental market in the short-term.

"Given the large amount of investment in the infrastructure that is being injected by the EU, it is certainly worth considering more luxurious properties as an investment.

"We believe that Bulgaria offers investors potential as a rental market, but also in time a well-established holiday and in the long-term a lifestyle destination."

However, he urged investors to investigate the local market thoroughly and consider the type of clients their investment would attract.

Mr Lambourn Brown's comments follow that of Jon Hill, director of Knight Frank International, who recently said that the Bulgarian property market is on the up and is similar to Spain's strong performance ten years ago.
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