Bulgarian tourist resorts 'suitable for buy-to-let'
Prospective investors in rental accommodation have been advised to purchase in popular tourist areas.
Fund management firm Lewis Charles Sofia Property Fund stated that Bulgaria had a high home ownership level, meaning that there was not a domestic buy-to-let market.
However, fund manager Loraine Pinel said that major tourist areas did offer prospects for rental investors due to the steady stream of visitors.
Speaking to the Telegraph, she commented: "In the tourist resorts there is a strong buy-to-let market coming from international investors."
She added that there was an expanding expatriate buy-to-let market in Bulgaria's capital city Sofia.
Furthermore, Ms Pinel said that property prices had risen "strongly" over the last few years because of the country's accession to the EU, also she stated that the rate of growth has recently slowed down.
According to the Sofia Echo, the country's gross domestic product (GDP) for the first half of 2007 was 6.4% higher than last year.
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