Property experts believe that Sofia, Bulgaria is at the start of a long term growth curve, with a massive boom expected for the capital city…

Sofia is at the beginning of a long-term growth curve and a massive boom is still ahead for the city, according to Neil Lewis, CEO of Property Secrets. The analyst believes that this is currently the best time to invest in Sofia, citing that “excellent capital growth is probably Sofia’s biggest attraction at the moment, especially when we consider that several of those markets that experienced ultra growth are now slowing to more sustainable rates”.

According to Lewis, Sofia’s market is healthy given that the share of foreign investors does not exceed 25 percent, and some developers have limits on the number of apartments that can be purchased by non-owner occupiers. The analyst is also forecasting a boom in the city’s relatively underdeveloped rental market, which is predicted to increase when home prices grow further, forcing would-be buyers to rent.

On the macroeconomic end, Lewis expresses faith in the Bulgarian government’s monetary policy, with interest rates expected to keep the Bulgarian currency closely pegged to the Euro.

The analyst also says that the mortgage market in Bulgaria is particularly developed by emerging market standards, with mortgages of 70-80% available, along with the possibility of self-certification and re-mortgaging.