Nearly 40 000 UK Citizens Own Property in Bulgaria |
Almost 40 000 Britons currently have property in Bulgaria and the demand remains sufficiently high to lead to a steady price increase.
UK daily The Independent said that Bulgaria featured as one of the most
attractive destinations for property buyers where one could still buy flats
worth 34 000 euro.
Brokers quoted by the paper however warned
that investors should no longer expect quick and easy returns.
It
is increasingly difficult in the UK to gain profit from property deals on rental
purposes. Interest rates in the UK increased five times from 4.5 per cent to
5.75 per cent while rental prices grew insufficiently.
This is
the main reason why Britons search for investment opportunities in Eastern
Europe and especially in new European Union member countries like Poland and the
Czech Republic.
Brokers also advice property buyers to
double-check tax rules, rental income and capital gains in overseas countries
and be sure that they do not sign any documents they do not understand.