Bulgaria 'still a property investment area'
Bulgaria's property market continues to thrive with a variety of different investment opportunities on offer.
Traditionally seeing strong demand for studios and smaller coastal apartments, the country's undeveloped areas are now playing host to a number of high-end projects, according to the Financial Times.
The new European Union (EU) member has also experienced a greater diversity of interest in its property market, with Russians and Romanians investors joining the established British and Irish homebuyers.
Land prices have also increased steadily over the years, no more so than in the 10 km 'villa zone' which has been allocated specifically for development.
Veneta Krasteva, organiser of Sofia's annual Balkan Real Estate Conference, highlighted that foreign investment was likely to further boost growth in Bulgaria, which is expected to expand by 5% this year and next.
"More sophisticated projects will underpin growth in the longer term, with new developments in smaller towns and places that have so far seen only low-profile tourism."
On January 1st 2007, Bulgaria along with Romania joined the EU, bringing the number of member states to 27.
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