UK INVESTORS INSATIABLE FOR BULGARIAN PROPERTY

Sofia Morning News (29 April 2004)

British investors have shown considerable interest in the Bulgarian real estate market.
UK Daily Telegraph reported that British investors' insatiable appetite for property has led them to hunt for bargains in Eastern Europe.
The UK newspaper said that demand for property in the region is growing sharply, particularly in countries such as Croatia, Bulgaria and Turkey.
The number of inquiries about buying property in eastern Europe is growing rapidly, said John Howell, the senior partner in John Howell & Co, a London-based solicitor. Demand is also picking up for places in Croatia, Bulgaria and Hungary, he added.
Increasing demand for exposure to house price growth in eastern Europe is also encouraging companies to consider launching funds investing in residential property in the region. Next week City Trading Post, an independent financial advice firm based in London, is to launch Euro Property Prospects, which will invest mainly in Bulgaria, Poland and Slovenia.
The City Trading Post fund is aimed at sophisticated investors with at least GBP 10,000 to invest. Two thirds of the fund will be invested in Poland and Bulgaria, with the remainder going to Slovenia and Spain.

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