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Tourism Fuels Buy-to-Lets Success in Bulgaria

Experts comment that there is a genuine demand in Bulgaria for good rental properties in the right location, but buyers need to be realistic about the rental returns they want and can achieve. A 5% return is realistic, according to them.

Buyers are spreading their risks too. One agent has reported that one in every 12 purchases in the second quarter of 2006 was for more than one apartment - a 107% increase on the previous quarter.

"In the past, people just set any old price they came up with and hoped for the best. Now owners are much more savvy on rental price and consequently get more bookings," says a Pride Property Management agent in Varna.

"Tourists are looking for quality properties to rent and high quality three-bed-roomed villas with a pool are booked pretty solid. Apartments in resorts have not done as well as they cannot compete with the tour agents," he adds.