Innovative property investments
Bulgaria Property Investment News
Be "very careful" in Bulgaria
Despite its wide renown as a rapidly emerging property location, Brits looking at investment property in Bulgaria should take a long time to chew over their purchase, according to industry commentators.
Les Calvert, director of Property-abroad.com, said that British buyers need to consider the potential for rental income as well as ensuring that they have adequate legal representation when investing in Bulgaria.
He also stressed that even with the stunning growth of the Bulgarian property market, the country remained prone to the same market fluctuations of any tourist destination.
"I would buy in Sofia or Varna, a city that doesn't necessarily depend on tourists for the rental income," he said.
"We are looking at long-term capital growth as well as rental yield so buying in a holiday resort doesn't particularly appeal to me because holiday seasons come and go but cities are where people live and work."
He added that investors "have got to consider carefully what sort of term they are looking at - whether they are looking at short-term, long-term investment, purely for capital growth, or are they looking for an investment rental, for example something to help you pay a mortgage on a property, because that can be very important".
Apartments in Sofia have been adjudged to experience a ten per cent annual price rise.
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