Bulgaria Property to Benefit from Credit Crunch

www.property-abroad.com, 22.07.2009

Bulgaria is set to benefit from the credit crunch experts have claimed. Because overseas buyers have been trying to sell their overseas properties as quickly as possible because their own countries are in recession, this has led to over-supply problems in many places, levelling the playing field and giving Bulgaria a chance for a "fresh start" according to overseas property specialists Frank Crowley.

Director Frank Crowley said: "Bulgaria property became hot news with overseas investors between its transition and entry into the EU in 2002/04 and 2006/07, who bought property there on the strength of its potential for short-term gains. The trouble with this was that everyone started selling at the same time, and the market became saturated with similar properties in pockets around the popular areas.

"Now, during the global recession, practically every market that was popular with overseas investors has faced a similar fate as foreigners try to liquidate their assets as quickly as possible. The playing field has been levelled if you like, and Bulgaria has a chance to put forward its strengths of low cost property, great beaches, great ski-slopes and fantastic potential for capital growth over the mid-long term."

Bulgaria has the potential to do very well again; overseas property buyers looking online are currently looking, primarily for cheap properties, and Bulgaria, with properties available at just £10k is certain to be one of the favourites. Then there is the fact that many of Bulgaria's most popular regions have the potential for all year rentals, but tourism has a lot to grow before this will become a sustainable reality.

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