Older buyers 'considering Bulgaria'

The Bulgarian property market could soon benefit from an increased level of interest from older UK buyers, it has been suggested.

A study conducted by the Institute for Public Policy Research in 2006 concluded that more than three million British pensioners would live abroad by 2050.

It also revealed that Australia and North America were the most popular destinations for people looking to retire overseas.

However, anecdotal evidence suggests some new favourites are emerging, including Bulgaria, according to Lisa Harris of Saga Travel Money.

Ms Harris explained that interest from retirees in emerging markets was "probably driven by the fact that they have recently joined the EU and house prices, whilst rising, are still extremely low so it's still possible to get a bargain".

Her comments come as a study by Global Property Guide revealed that Bulgaria's property market had the sixth highest rate of price increases in the world during 2007.