Serious investors 'shun' Bulgaria

23-May-2007

In news which may be of interest to first time home buyers, serious property investors are now choosing not to invest in Bulgaria, an expert has claimed.

According to Arlette Adler from the Federation of Overseas Property Developers, Agents and Consultants (FOPDAC), Bulgaria's property market has now reached saturation level, which may interest those first time buyers looking to invest abroad.

"The more serious buyer is looking at [other eastern European] countries and considering them," said Ms Adler.

"The thing that is bothering many of us [about Bulgaria] is that they are building all over the place," she added.

Indeed, Bulgaria has been criticised for focusing on the development of property at the expense of infrastructure projects, such as those for transportation.

Today, Bulgaria is a member of both Nato and the European Union.

To find out more about buying a property abroad to get onto the property ladder click here.

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