Bulgarian property market 'now more mature and stable'
Bulgaria's property market has matured and stabilised over the last few years thanks to the development of procedures and systems designed to protect property investors, according to an expert.
Although property in the region several years ago was very cheap, much of the regulation for foreign investors had yet to be developed, meaning that it was difficult to check whether new off-plan properties were fully compliant with Bulgarian laws, according to Nia Jones, international services manager at property conveyance firm Goldsmith Williams Overseas.
However, writing in Mortgage Solutions magazine, Ms Jones notes that today's market is "much more stable" and has proven to be extremely popular with British investors.
Although there are still some "potential risks" that need to be considered when investing in Bulgaria, she noted that the country is a "prime example" of an emerging market.
Ms Jones explained: "Bulgaria is a much more mature and stable market these days, and the procedures that are now being followed there form a good template for current emerging markets in the future, particularly countries in eastern Europe."
Recently, Paul Collins, a spokesman for BuyAssociation, described 2007 as a "key time" to see how rental yields in the country will pan out.
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