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The changing face of European property investment

  The Sofia Echo has today reported that the coastal resort of Sozopol is seeing the highest demand for real estate at the moment.

  Referring to a report in 24 Chassa, the publication points out that the seaside resorts of Tsarevo and Ahtopol are also experiencing high demand, with slightly cheaper prices in both of these areas.

  Bulgaria does have an advantage over many of its near neighbours in that it offers a hugely diverse selection of opportunities for property investors.

  There is great potential around the Black Sea regions but there has also been staggering growth in Bansko, with investors taking advantage of the rising number of holidaymakers heading over for cheap ski breaks each year.

  While it may seem a small point, Bulgarian property is also benefiting from the fact that many investors are simply looking for a change and there is a certain kudos associated with buying a property somewhere slightly out of the ordinary.

  When added to the fact that experts are predicting that prices will soar in Bulgaria in the next few years, it is inevitable that the country's popularity is continuing to climb.

  There is clear evidence of this already, as noted in the report by Mr Burrows. Rupert Lee-Browne, from currency exchange specialists Caxton FX, said that 50 per cent more of his clients were moving money to the country when compared to last year.

  He went on to say that a huge amount of money was being invested in upgrading infrastructure while there was a 40 per cent increase in hotel occupancy rates during the ski season.

  The ski season is in fact becoming central to many investment projects, not least because properties in these areas are still cheaper than in the ski resorts. Borovets, Pamporovo and Bansko are all popular with buy-to-let investors as they all offer rentals in the summer as well as the winter.

  While occupancy levels are clearly down in the summer and rents are lower, capital appreciation is perhaps the greatest consideration and expected EU accession in the next year should play a huge role in giving a free rein to this potential.