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Bulgarian property set to prosper in 2007

Bulgaria could be among the most lucrative areas to invest in during 2007, according to property experts.

Rental returns in the eastern European country are said to hold good potential according to Paul Collins, overseas property editor of BuyAssociation

Mr Collins says there is growing interest among Britons in acquiring holiday homes, with a second property often used as part of retirement plans.

And, with Bulgaria's accession to the European Union this year and a slew of investment planned by the government, he said the prospects for property in the country looked good.

"Bulgaria has had a huge amount of press and public interest in overseas property. 2007 will be a key time to see whether those who have invested will make money from the rental side of things," he commented.

"One British tour operator has cited it as the market where they see the biggest growth this year and having joined the EU in January, the country has a real opportunity to grow."

The Bulgarian government has big plans for modernisation, with expenditure on road infrastructure alone pegged at 887 million between 2007 and 2009.

Bulgaria will also benefit from investment by the EU with the modernisation programme augmented by 593 million from the Cohesion Fund.

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