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Bulgaria Property Investment News
Growth of Bulgarian market is "unbelievable"
Bulgaria has led the way among emerging property markets, with a "phenomenal" performance in recent years, according to industry experts.
Now ranked as the third most popular investment destination for UK buyers, Bulgaria has presented a serious challenge to the more traditional markets of France and Spain, but now faces competition from other new property hotspots.
Paul Owen, spokesperson for the Association of International Property Professionals (AIPP) said that Bulgaria's example had significantly altered the playing field of foreign property investment.
"The interesting thing about Bulgaria is that it's the first of its kind to have come from, not an unknown market, but certainly a market which most Brits hadn't invested in," he said.
"It's gone from emerging to almost established in three years, which is just unbelievable."
Mr Owen added that after the leading the charge for budding property destinations, Bulgaria could expect increased challenges:
"It had a free run of being 'the' emerging market for three years, but it's not got competition from many others coming in – Poland, Latvia, Montenegro…and there are a lot of emerging nations with comparable property prices which are relatively unheard of."
However, he noted that the probable emergence of a resale market would maintain Bulgaria's property boom.
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