Bulgaria 'shares traits of Spanish property market

Bulgaria offers property investment opportunities that are similar to countries such as Spain, but at a fraction of the cost, an expert has claimed.

Managing director at Barrasford and Bird Worldwide Robin Barrasford said that Bulgaria shared many desirable traits with the more established property markets of its neighbours.

Low-cost airlines were already flying direct to the country's capital, Sofia, as well as coastal areas and it was "difficult to see how it differs greatly from Spain", he added, although he said that as it has only become an investment hotspot in the last few years, it offers property at a fraction of the cost.

Mr Barrasford explained that to invest in property, it was necessary that people made sure they were going to get a return and for this reason, investors were buying off-plan property in Pamporovo or Sunny Beach, Easier.com reports.

"With the addition of a new terminal at Sofia International Airport and a new Sofia Business Park the evidence of progress and growing confidence in Bulgaria's capital is also proving an investor hotspot," he said.

The view was echoed by comments from a director of a property firm, who said that Sofia was "an extremely good place to buy at the moment" as long as investors were prepared to wait for their property to appreciate in value.

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