Bulgarias Eu Accession Raises Property Investment Questions

Bulgaria’s questionable EU future causes concern over the future of the country’s property market, Assetz reported.

The property market experienced growth since EU membership talks began in 2000. Since then, the purchase of property in Bulgaria became increasingly popular investment opportunity.

Interest toward property both in the capital of Sofia and in seaside and mountain resorts was on the rise. Bansko developed as a leading ski resort, while coastal property is seen as a viable alternative to purchase in countries like Spain, Assetz reported.

The interest is not expected to disappear suddenly but some problems might occur, the website reported.

According to the latest European Commission report Bulgaria still has to make progress in various areas for on-time membership in January 2007. Corruption remains a problem, though officials already work on measures to counter it.

EU accession will be beneficial for the country’s property market but Assetz reported that some investors are not that interested in Bulgaria’s membership or delayed accession.

Assetz reported that most problematic issues in the country have already been addressed. Even if the country’s accession is delayed tourism would continue developing because of the law prices and good conditions. sofiaecho.com