Bulgarian Holiday Property Market Looks to Remain Solid

  • 16 years ago
  • Uncategorized
Despite the meltdown in the United States’ property market and financial industry, the holiday market for Bulgarian property should remain reasonably steady, according to a news report at investor.bg . Vesselin Krustev, a manager with local real property consultant Orange Real Estates, told the news site that the Bulgarian real estate market should remain stable and attractive over the next few years.
The global crisis that has hit the United States hardest will probably have an effect on the holiday property industry, but Krustev indicated this may be good thing. It will keep prices from spiraling too far upwards as the market keeps growing with healthy annual growth.
Property values have slowed their increases in Bulgaria and helped to shift the market to a steadier, longer term investment. This means that while investors aren’t getting the whopping returns of just a few years ago, they are still getting solid returns and keeping the properties for use instead of immediate resale.
Bulgaria has a great location for holiday homes along the Black Sea and its skiing industry is also growing. The country has the lowest taxes in the EU, an important fact that will help to keep the Bulgarian real estate market going strong. Overall, Bulgaria still looks to be a solid country for property investors, particularly when looking at the longer term.
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