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Bulgarian capital 'great' for long term investment

The Bulgarian capital, Sofia, is a promising hotspot for property investors coming from abroad, an expert has said.

Simon Walker, sales director of Off Plan International, said it would be "very difficult to lose" a property investment in the city, which has a population of nearly 1.4 million.

One reason for this is that a growing number of international companies are moving to the city, and they each need somewhere to house their employees.

Mr Walker explained: "Bulgaria is new to the EU and they're pumping funding into the infrastructure of the country.

"With Sofia being the capital it would be very difficult to lose. You would not lose your shirt buying an off plan development in Sophia.

"You'd be looking for longer rentals, maybe from the local businesses. Sofia has a lot of international companies going there and there's a shortage of…'luxury apartments'."

He added that longer term rentals are becoming more commonplace thanks to the presence of these multinational companies.

Bulgaria joined the EU at the start of 2007.

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