Wed, 16 May 07
UK investors are in the majority when it comes to demand for holiday homes in Bulgaria...
The Colliers International study found that the market for holiday homes in Bulgaria has developed substantially in the past year in both mountain and coastal areas.
Private, middle-class individuals hailing mainly from the UK and Ireland were behind most of the demand for the sector, which has been driven by a number of factors.
Low prices in comparison to the UK, a steadily growing tourist industry and Bulgaria’s expected accession to the EU in 2007 are all among the factors which make the country popular with foreign investors.
The market for property in Bansko accounted for most of the activity in mountain regions, with 64 per cent of property in these areas located in the town.
In coastal areas, St Vlas was found to be the most popular resort, while Sunny Beach and Sozopol also continued to be in demand.
The supply of holiday homes in Bulgaria has increased by over 6,000 units in the past year. Between June 2005 and June 2006, boosts in supply have equated to growth of 37 per cent, and although demand has not yet caught up with this increase, prices have still remained relatively stable.
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