Insurance News Archive

Bulgaria 'value for money for property investors'

Bulgaria is popular with property investors for the same reason that it is popular with holidaymakers – it offers good "value for money", claims an expert in property in the country.

Despite the fact that the pound-euro exchange rate is not beneficial to UK investors in Europe at the moment, there are still good returns to be found in Bulgaria, which is a "value destination", claimed Balkan Holdings managing director Chris Northam.

With the National Statistical Institute of Bulgaria claiming house prices rose by 7.5 per cent in the third quarter of 2007 and Collliers Bulgaria research showing property prices in newly built residential districts of the capital, Sofia, the country offers property buyers good prospects.

Mr Northam said: "It's a lot less expensive – not just to buy property, but to enjoy your holiday or enjoy your retirement or whatever. The cost of living is substantially lower than the UK and the rest of Europe.

"So I'd say it's the fact that it's a value destination over and above the more expensive euro zone countries."

31 Jan 2008