Bulgarian property values tipped to rise

The value of Bulgarian properties could be rising as soon as next year, it has been suggested.

Overseas investor magazine BuyAssociation said that the country is presently offering a number of bargains, as luxury homes have seen prices drop by 40 per cent since 2007.

The publication added that experts are anticipating prices to being increasing again in 2010, with rental yields being favourable for buy-to-let investors.

However, the most popular places to buy will now be in traditional towns and villages, rather than the Black Sea Coast and the capital Sofia, as was previously the case.

The site also noted that Bulgaria offers the advantage of not yet having adopted the euro, which could make buying there cheaper than in other EU countries.

BuyAssociation's tip echoes the recently expressed view of head of economic research at UniCredit Bulbank Kristofor Pavlov, emportal reported earlier this month.

He forecast that the market will see three further quarters of decline, meaning the turning point will come during the next year.

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