Bulgaria is the next Spain on the overseas property market
Interview with Haris Menelaou, Director of Best of Bulgaria.
"Three years ago, we had already conducted market research, scrutinizing not only Bulgaria, but other neighbouring countries, including Romania. We concluded that “Bulgaria is the next Spain in the overseas property market”. Indeed, after 3 years of hard work in Bulgaria, we can now say that our clientele (our clients are mainly British, Irish and other North Europeans) is looking for a much bigger and longer-term investments in Bulgaria, simultaneously, dreaming of a second home in this beautiful country.
Mr. Platon Kyriakides, General Advisor of the Best of Bulgaria Group (ex Ambassador of Cyprus in New York, Moscow, Damascus), noted that “the EU accession in January 2007, will in fact bring even more political stability and improve the living standards in the country”. I believe this in fact motivates investors, likewise they did in Cyprus back in 2004.
Today’s economical figures praise the political world of Bulgaria, which along with the help of the EU have changed the socio-economical conditions of the country for the better. For the year 2007 the economy is forecasted to grow by 5.8 % and inflation to decrease to 3.1 %. Everything looks positive and we believe that foreign investments will continue. It is worth noting that foreign investments for the first half of 2006 doubled.
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