Insurance News Archive
Bulgarian growth 'stable'
Economic growth in Bulgaria may be advancing at a very stable rate, but property prices are still relatively cheap in the eastern European country, it has been revealed.
According to property expert Emerging Real Estate, Gross Domestic Product in the country is increasing steadily, and posted a 6.4 per cent growth rate in the first half of 2007.
"GDP is increasing on a yearly basis," said Deborah Fox, director of the firm.
"Unemployment has continued to decrease and salaries are rising. The economy is doing very well but property prices are still relatively cheap."
She explained that average salaries within the country remain relatively low, meaning that properties cannot be too expensive because people living in the country would be excluded from buying them.
Among the areas presenting excellent opportunities for potential property investors, Emerging Real Estate highlighted Sofia, the capital and largest city of Bulgaria, which is at the heart of much of the country's economic growth.
Recently, the Association of International Property Professionals reported that Bulgaria was the fourth most popular destination for UK property investors abroad in 2007, behind Spain, France and the United States.
28 Apr 2008
