Investors reassured about Bulgaria's prospects

Overseas property buyers have been reassured about the investment potential of Bulgaria amid the ongoing crisis in the global economy.

According to Balkan Holdings, British investment in the Bulgarian property market has slowed down as a result of the credit crunch.

However, managing director Chris Northam said that while off-plan properties may be a risky investment, there are still many safer alternatives across the country.

Prospective investors were advised to look at the rural parts of the country as prices are often much lower in these areas.

Therefore, anyone who may need to make staged payments will be less vulnerable to market fluctuations.

Mr Northam added that overall, Bulgaria is still a good place in which to buy a property.

He commented: "I would say it's very much still a valued destination, if you know where to look and you know what you're doing."

According to the Association of International Property Professionals, Bulgaria was the fourth most popular foreign destination for UK buyers last year.