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Bulgaria boosted by EU membership
Property experts have attributed the flourishing of Bulgaria's property market to its recent entry into the European Union.
A recent global price index produced by estate agents Knight Frank rated Bulgarian capital appreciation at 19 per cent and falling interest rates have further stimulated the growth of the housing market.
Robert Jenkin, managing director of property company Bulgarian Dreams said that since joining in January, the eastern European nation's economy was sure to follow the example of other recent EU members and experience increased expansion and stability.
"Currently the majority of UK buyers in Bulgaria are purchasing purely for investment with only occasional personal use, however over the next five years we anticipate an increase in the number of people buying holiday homes both in the coastal and mountain areas."
Since their entry in 2004, the likes of Malta, Estonia, Hungary and Slovakia have all enjoyed the benefits of EU membership, experiencing increased investment from major western companies and with Bulgaria already implementing extensive development programs, its financial fortunes are sure to improve further.
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