Welsh investors warming to Bulgaria

Welsh homeowners looking to buy overseas property as an investment are increasingly being attracted by Bulgaria, according to one property company.

Swansea-based developer, Britannia Overseas Property, said that the level of demand in Bulgaria is so high that prices rose by almost 50 per cent last year, while experts anticipate these will double within the next year. The average price of one of Britannia's ski or Black Sea coastal properties is £45,000, the firm said.

Visitors to the eastern European country are also on the rise, with the number of tourists travelling from the EU up by almost 90 per cent in just two years.

Bulgaria, along with neighbouring Romanian, is also preparing to enter the European Union itself, possibly as early as next year depending on current negotiations.

Investors are therefore getting in early to take advantage of the high returns, set to get even higher with EU integration and more people crossing the borders for ski trips and summer holidays.

Andy Moore, Britannia's joint managing director told Wales' Western Mail that property investors were switching their sights from Spain and "moving their money to Bulgaria".

"Some see it as like Spain years ago and Ireland before it joined the EU, offering the potential for similar returns," he explained.

In addition to the capital growth, another attraction of Bulgaria is the opportunity for investors to use property for their own holidays, renting it out for the rest of the year.

Looking to buy Bulgarian property? Then keep up to date with the latest news and other information on <A href="http://www.homesgofast.com/Bulgaria/">homesgofast.com.</A>

19/05/2006

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