Press Release Summary = Since joining the European Union on the 1st January 2007, the property market of the former Eastern Block country of Bulgaria is showing no signs of slowing down.
Press Release Body = Since joining the European Union on the 1st January 2007, the property market of the former Eastern Block country of Bulgaria is showing no signs of slowing down. Despite the massive price rises of somewhere between 15-20% in 2006, and the 2 year foreign investment boom, the market continues to flourish.
Simon Ryeland, Director of Principal International, a leading property investment company confirms that investors are continuing to actively enquire because the prices are still amongst some of the lowest in Europe.
Joining the EU brings about more confidence, a transparency that may not have existed before and made the potential investor cautious and has created a much more certain investment. This makes sense to the UK buyer where prices in London are some 5 times higher per square metre and the market is becoming harder and harder to enter.
As with a large proportion of development in Europe, investors are looking for quality, so too are the locals, where it is estimated that a vast percentage are looking to move from the shabby run down areas to more luxury gated communities. This fuels the need for development and helps bring about continual price increases and over time, and stability of the market. Rising salaries bought about by stability of the economy and foreign investments add to the supply and demand issues and increase the locals buying power so giving increased confidence and opportunity to the investor.
The rural inland and ski developments are enticing those developers who were previously unsure, Simon Ryeland confirms that these areas are now becoming as popular as the Black Sea coastal resorts that accommodated the 1.5 million visitors in 2006, and which have flooded the market. This renewed interest will add further to the stability of the property market and no doubt regain the European investor's confidence.
If you are looking for your Bulgarian investment property then see our selection at www.principalinternational.co.uk or contact us on 0800 038 0000.
Web Site = http://www.principalinternational.co.uk
2022
