Bulgaria Attracts Foreign Investors

Overseas property investors are continuing to find Bulgaria an appealing location, according to an expert.

Martin Gikov from UniCredit Bulbank told a national media outlet that the eastern European country was highly popular with foreign property buyers.

Speaking to the Novinite news agency, he said it was proving to be a hotspot of activity among investors from Russia and Scandinavia.

He added that house prices in Bulgaria are likely to keep rising this year, which means these investors may be in line to see considerable capital growth.

Mr Gikov cited the country's recent entry into the European Union as one of the main reasons for the increase.

He said that although the global property market was experiencing a slowdown, the momentum in Bulgaria could be sustained during the coming year.

Bulgaria, which joined the European Union in early 2007, was recently found to have seen the largest rate of house price inflation in the world.

The Global Property Guide revealed that last year, the value of property in Bulgaria increased at a higher rate than in any other country.
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