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Bulgaria - the new Spain?

Рубрика: General news Източник:      "An abundance of beautiful beaches and world-renowned ski resorts combined with a low cost of living, has made the country ripe for long-term investment in particular," said Mr Law.

"The best investment opportunities include the ski resort of Bansko and the Black Sea resorts of Varna and Bourgas," he continued.

Mr Law also predicted that the rapidly developing Sofia would become a significant commercial centre, pointing out that "capital appreciation and rental yields should be very strong in the future".

The research from d2rworldwirde.com also revealed that internet searches for property in Spain are in slight decline, with countries like Bulgaria beginning to challenge its previously indisputable dominance of the market. This trend was today given impetus when the Swedish prime minister Goran Persson reaffirmed his confidence that Bulgaria would join the EU on January 1st 2007.

There has been a gradual increase in activity in the Bulgarian property market throughout 2005, with Bulgarian Property Developments (BDP) announcing last week that it aims to raise £40 million on the London Stock Exchange to fund future projects.

There was more movement today with the Czech Business Weekly reporting an interview with Ales Vobruba, senior vice president of the Orco Property Group (OPG), in which he predicted that the company's real estate portfolio would reach ˆ 1 billion by 2007.

Mr Vobruba indicated that OPG plans to use its extended-stay hotel projects to enter Bulgaria next year.