Bulgaria Enters Top 5 UK Property Investors' Nightmares
18.05.12
Bulgaria has been ranked the fourth worst property market to invest in 2011 in a list, compiled to gauge the sentiments of and help Britons make the best investment choice for financial gain.
Bulgaria was once regarded as the 'the new Spain' for overseas investors, but this is no longer the case, Colordarcy consultancy, which carried out the survey, commented.
" Property prices are in freefall and with the exit of British and Irish buyers, Russian investors now dominate the market and their strong bargaining skills result in continued falling prices," it adds.
The report says that for many investors lured into coastal and Bansko ski properties with no exit in sight, the dream came to a sorry end.
"They'd have been better off buying a beach hut in Bournemouth as many will no doubt be trapped in a plummeting property market with no resale market insight and a country experiencing severe economic difficulties –
Source: Novinite.com