Real Estate & Currency Exchange News in Bulgaria from Propertyshowrooms.com

Bulgaria 'benefiting from weakening pound'

Fri, 28 Nov 2008 00:00:00 GMT

Bulgaria is one of the countries benefiting from a decline in the number of investors choosing to make purchases in traditional locations, it has been claimed.

Paul Dimambro of currency provider Hargreaves Lansdown explained that the weakening of the pound against the euro and dollar has resulted in overseas property buyers searching for homes in a wider variety of countries.

"We have seen a 15 per cent increase in the number of countries to which our clients transfer money and an increase in the number of transfers to the more unusual locations," he explained, noting that Bulgaria is one area where there has been an increase in activity.

And property investors looking to convert currency so they can buy abroad may wish to follow Mr Dimambro's advice and buy their money from a specialist, as they can "save investors money" and help reduce the risk of currency fluctuations affecting property purchases.

Mr Dimambro's comments are supported by recent figures from the Address Real Estate Agency, which suggest the country's property market has grown 12 per cent in the last three quarters.

More Britons purchasing Bulgarian currency

Fri, 22 Aug 2008 00:00:00 GMT

Investors in the Bulgarian market could be in line to benefit from growth in the country's tourism sector.

According to the Post Office, demand for Bulgarian currency has been going up steadily in the last three years.

Indeed, figures show that the number of sales in the UK has gone up by 126 per cent since 2005.

This suggests that the eastern European nation is seeing significant growth in the annual number of incoming visitors, a development which would have a knock-on effect on its rental market.

As a result, Bulgaria may be a potentially lucrative market for buy-to-let investors to consider.

Helen Warburton, head of travel at the Post Office, said the demand for Bulgarian notes shows that while people in the UK are not deserting traditional destinations, people are increasingly considering other options.

"Many UK tourists are shopping around in Europe," she commented.

This comes after Bulgaria was flagged up as a good market to consider by Aston Lloyd, which said property values are relatively affordable when compared with many other markets.

Eastern Europe 'offers good exchange rates'

Mon, 21 Jul 2008 00:00:00 GMT

People who want to make the most of their money on holiday have been advised to consider visiting eastern Europe.

According to PriceRunner, the region is an ideal location for consumers who are travelling on a budget.

This is because the high value of the euro has impacted on the cost of travelling to traditional hotspots in western Europe, such as France and Spain.

Research by the price comparison website has found that many people are already taking exchange rates into account when booking a trip, hence the growing appeal of places such as the Bulgarian capital Sofia among Britons.

Mattias Berg, managing director of PriceRunner, said: "With the poor exchange rate on the euro, we're seeing an increase in the popularity of travel outside of the eurozone."

He added that researching exchange rates in advance would help people identify which places offer the best value for money.

Last month, online travel agency Lastminute.com revealed that the number of June bookings was 151 per cent up on the previous year.

Holidaymakers look at exchange rates

Thu, 17 Apr 2008 00:00:00 GMT

Exchange rate movements are becoming more of an issue to holidaymakers, industry analysts have revealed.

According to currency specialist Travelex, leisure travellers are becoming "increasingly savvy" with regards to financial fluctuations and taking them into account when booking trips abroad.

John Nicholas, director of the organisation, said that this has led to people travelling to places where they can get more for their money.

This has become particularly apparent in recent weeks, as the pound has fallen to a record low against the euro, which means general expenses in eurozone countries will cost much more.

Mr Nicholas commented: "People [are looking] outside the traditional eurozone holiday hotspots to make their money go further this summer."

He highlighted eastern European countries such as Bulgaria as places which are benefiting from this trend.

The region was recently recommended to leisure travellers by Helen Warburton of the Post Office, who told the Independent that it currently offers very good value for money.

Eastern Europe to benefit from weak pound

Fri, 11 Apr 2008 00:00:00 GMT

The tourist trade in eastern Europe could be set to benefit from the weakening pound, an expert has suggested.

According to Helen Warburton of the Post Office, many consumers in the UK are looking outside of the eurozone because the currency is now much stronger than the sterling.

In fact, the pound has now fallen to a record low against the euro, which means people face much higher costs if they visit countries such as Italy, Spain or France.

Ms Warburton told the Daily Mail that there have been "significant increases" in the cost of popular purchases such as food and drink.

Therefore, holidaymakers are opting to visit destinations with more favourable exchange rates, such as Bulgaria.

Speaking to the newspaper, Ms Warburton said: "People are looking for destinations where their holiday money will go further."

According to figures from Euromonitor, tourism in Bulgaria generated more than £1.3 billion for the country's economy last year.