Bulgaria's capital offers better investment prospects than seaside

SofiaEcho, 2007-09-20

     Sofia could offer much more opportunities for investing in property than the seaside according to an expert. Those hoping to generate money from investing in Bulgaria should ignore the coast as it was less lucrative, and focus on Bulgaria's capital, Simon Tweddle, chief analyst at Property Secrets said, as quoted by propertyshowrooms.com. Seaside resorts depended on seasonal factors including tourist visits and the weather, Tweddle said. Many coastal regions had an excess of property currently available on the market.
     "If you invest in the city you've got more than two million people who can potentially rent your property from you", Tweddle said.
     Bulgaria is attractive to business investors largely due to its stable political, economic and social climate. It has some of the lowest operational costs and tax rates in Europe, propertysecrets.net said.
     "Demand for property in the cities was driven by three factors: the emerging middle classes who provide the demand for modern apartments, plus increasing affluence coupled with the supply of capital in the form of mortgage lending. All three trends were visible in Sofia", the site said.

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