Opportunities For Bulgarian Property Investment still Exist

It may have been an international property hotspot for some time but opportunities still exist for savvy investors in the Bulgarian market.

According to industry experts a number of high-end projects are being planned in the country, which is expected to attract a new wave of investment.

These will be situated in previously underdeveloped areas close to coastal towns, and will be much more sophisticated than many of the cheaper properties that have appealed to investors in the past.

"There is a swing now from budget properties to those in better locations, of good build and good management," Brian Conneely of West Properties International told the Financial Times.

And Veneta Krasteva, the organiser of Sofia's annual Balkan Real Estate Conference, believes long-term growth is likely to be underpinned by these new developments in places that have so far experienced only low levels of tourism.

Bulgaria joined the European Union on January 1st 2007 and since its accession it has attracted large amounts of foreign investment and seen its property prices rocket as a result.