Press Release Summary: BULGARIA STILL BEST FOR OVERSEAS PROPERTY INVESTMENT
Bulgaria has been named the best destination for overseas property investment, even though its tourist hotspots are showing signs of overheating, according to a new research.UK ranks as the best for investment returns with Bulgaria second, says the quarterly investment tracker, released by British investment firm Assetz. Making up the rest of the top five are Canada, Cape Verde and Property in Cyprus respectively.
Press Release Body: BULGARIA STILL BEST FOR OVERSEAS PROPERTY INVESTMENT
Bulgaria has been named the best destination for overseas property investment, even though its tourist hotspots are showing signs of overheating, according to a new research.UK ranks as the best for investment returns with Bulgaria second, says the quarterly investment tracker, released by British investment firm Assetz. Making up the rest of the top five are Canada, Cape Verde and Property in Cyprus respectively.
Bulgaria maintains a strong position in the tracker with a total of 71% return on cash invested, but Assetz advised caution to investors, especially in the tourist hotspots such as Sunny Beach and Bansko where there is a severe oversupply of apartments. However, average prices have increased from 17.3% to 22.5% annually in June 2007, possibly due to a number of aprestige\' developments coming onto the market.
WORLD BANK LENDS BULGARIA 90 MILLION EURO\'S FOR TRANSPORT INFRASTRUCTURE UPGRADES
World Bank\'s board of directors approved EUR 90 M in funding for a project to upgrade transport infrastructure in Bulgaria, the institution said on Wednesday. The funds will be used to rehabilitate first, second and third class roads with total a length of 450 kilo meters
BULGARIAN PROPERTY MARKET IS "IDEAL"
Bulgaria is enjoying a strong property market since joining the European Union, claims real estate portal Right move overseas. Interest in the country has grown, with the website reporting that site searches for Bulgarian property has doubled since the start of the year as more people become aware of the investment opportunities in the country. Figures suggest that in the most popular area of Bulgaria, property prices rose by 20 per cent in 2006 and that ongoing improvements and developments are likely to encourage more growth over the next 12 months.
\"Bulgaria is currently poised at the ideal stage of the emerging market property cycle; where the riskiest, most profitable period may have passed, but the greatest period of growth has yet to come,\" explained Right move Overseas\' head Justin Figgins. He added: \"The previous build up to EU accession, gaining EU membership and its surging popularity are all ongoing contributing factors in sustaining the exciting development of this former Soviet Bloc state.\"
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