Bulgarian town benefits from investment
Overseas property investors are increasingly putting money into the Bulgarian municipality of Kavarna, according to reports.
The Sofia Echo said that the area had become a highly popular choice for foreign investments in the last few years, which in turn has led to tangible economic benefits.
Since a growing amount of money was being put into the area, the newspaper stated that local authorities had recently spending millions of pounds on improving the local infrastructure.
For example, more than 330,000 sq m of the road network across Kavarna has been renovated at a cost of £4.7 million.
According to the publication, almost two-thirds of the infrastructure in the town has been improved.
Other benefits of the inwards investment were also cited, such as increased tourism and facilities for holidaymakers, as well as reduced unemployment.
Earlier this week, the Sofia Echo reported that prices in Bulgarian cities could rise by 10 per cent before the end of this year.
< Back to latest news