Wednesday, March 28th, 2007
British buyers seek for luxorious properties in Bulgaria
Luxurious property abroad is among the most attractive options for British real estate seekers, MRI Overseas Property expo marketing manager Charlie Brown said. Such type of property offers high long-term return rates. Luxurious property in the country also has good renting potential.
Long-term property investment in Bulgaria is good option because of the developments the country will experience after its EU membership. EU funding will aid infrastructure projects in the country, increasing the appeal of its real estate sector, Brown said. Bulgaria at the moment offers good vacation opportunities and in the future will develop as permanent residence destination, Brown said.
Yet, investors are advised to research carefully local market options. It was most important to determine the type of clients the investment was going to attract, Brown said. According to the international property price index of Knight Frank, Bulgaria has registered a 13 per cent increase over the final quarter of 2006. Bulgaria ranks sixth for the period, in comparison to its second position in the index for the last quarter of 2005. In the end of 2005 Bulgaria registered a 21.6 per cent increase in the price of property.
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