Foreclosed Bulgarian market emerges

Bulgaria is starting to provide a market for foreclosed property, with the advent of a new site for such homes.

The country's Chamber of Private Enforcement Agents website has launched a portal for this kind of sale, the first one of its type in the country, Novinite reports.

Investors in Bulgaria may find they are able to access bargains in the same way many in the US look to do in places such as Florida and California.

At present, 190 homes and 20 other assets are available on the site, although the law requires that all 163 enforcement agents must put properties up for sale, something only 20 have done yet.

However, the rest are expected to follow suit by the end of June.

Earlier this month the same news provider reported on comments made on Darik Radio, by chair of the National Real Property Association Lachezar Iskrov.

He said that property prices in the country had fallen close to their correct market value.