Bulgaria a hotspot for investors in property abroad

01 August 2008 / by Rebecca Sargent
As markets become unstable and the Euro weak, emerging property markets like China and Bulgaria are proving popular with investors, new research from currency specialists HiFX has found.

According to the HiFX Annual Global Property Hot Spots report, interest in Bulgaria in 2007 was double what it was in 2005 pointing to its investment potential.

Furthermore, although France and Spain remain the most popular place to buy property abroad, popularity has dwindled as prices have inflated making them less of a profitable investment.

Mark Bodega, director at HiFX said: "It's easy to see why investors in particular are turning their backs on Spain and examining new markets at an earlier stage in their growth cycle. In August 2007, the national median price for property sold to overseas buyers in Spain was approximately €250,000. In Bulgaria the average price was closer to €60,000!

"With an abundance of low cost airline routes, short flight times and the great weather both countries will always be a favourite with British buyers and we expect them to remain so in 2008. However, overall, their lead is closing as the investor population continues to turn its attention to emerging markets in 2008."

Although Bulgaria would seem appealing, Mr Bodega warned: "Buyers should remember that their choice of where to buy really depends on why you are buying and on the degree of risk that you are willing to accept. Wherever you do decide to buy, be it Guildford or Granada, it's imperative that you do your research and ignore the hype."

Fairinvestment.co.uk provides a property service in association with MRI Overseas Property, which aims to relieve some of the hassle of buying property overseas. The service offers a property search facility and the option of assistance in the buying process of a property abroad.

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