PROPERTY IN BULGARIA

FOREIGNERS LOOKING FOR VACATION PROPERTY IN BULGARIA

09:05 Wed 16 Aug 2006

West Europeans having enough resources to invest in vacation home were looking for opportunities abroad, mainly in countries like Bulgaria, Croatia and Morocco, a Newsweek article named Room With a View said.

Countries like France and Spain have traditionally been vacation property hotspots. The high demand, however, was creating good investment opportunities in new places like Bulgaria and Croatia, Newsweek reported.

Increasing number of Brits, Germans and Dutch searched for vacation property abroad. Foreigners bought as much as 80 000 to 100 000 second homes in Spain in the past year.

Nearly half of the purchases were speculative, aimed only at investment without personal use, the report said.

Low-cost air carriers have made travel across Europe easy and cheap. Such developments added to the appeal of property purchase abroad, Newsweek reported.

Less-developed regions welcomed the inflow of foreign investment, Newsweek reported. It quoted Sofia mayor Boiko Borissov as saying that Bulgarians welcomed foreign property buyers because of the financial resources they brought along.

http://www.sofiaecho.com/article/foreigners-looking-for-vacation-property-in-bulgaria/id_17076/catid_69