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Investor outlines attractions of Bulgaria

Article Date : Monday, March 17, 2008       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

An overseas property investor from the UK has spoken of his decision to invest in eastern Europe.

Investment banker Mark Giddings recently purchased an off-plan property in the Bulgarian capital Sofia and a similar residence in the Romanian city Brasov.

The two purchases collectively cost him £180,000 and he believes the overall returns could be much larger.

Speaking to the Times, he said both the Romanian and Bulgarian economies are currently benefiting from high levels of investment from overseas.

He added that their recent entry into the European Union and the increased personal wealth of local people has also created a favourable environment for investors.

Mr Giddings commented: "I just felt there is more potential for capital growth in those markets."

However, he conceded that he has an "appetite for risk".

Bulgaria, which joined the European Union in early 2007, was recently found to have seen the largest rate of house price inflation in the world.

The Global Property Guide revealed that last year, property values increased at a higher rate than in any other country.
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