News
Bulgaria popular among British buyers
Tuesday 13 May 2008
An increasing number of young Britons are choosing to turn their backs on the UK housing market and invest in foreign property.
With house prices in the UK out of reach of the majority of first-time buyers, many are choosing to buy abroad in order to make their first step onto the property ladder.
One of the most popular trends is for first-time buyers to purchase investment properties in Bulgaria.
The country's economy is going from strength to strength and property prices remain very affordable.
"You can pick up a flat for the price of a luxury car here," Laurent Schonbach from overseas home insurer Hiscox told the Mirror.
"Twenty-somethings can buy a decent apartment for £40,000 to £50,000," he added.
Bulgaria's economy is doing so well that it is hoping to enter the Eurozone by 2013-2014.
The move would be great for anyone considering buying an investment property in Bulgaria and now may be the time to invest as prices are so low.
With house prices in the UK out of reach of the majority of first-time buyers, many are choosing to buy abroad in order to make their first step onto the property ladder.
One of the most popular trends is for first-time buyers to purchase investment properties in Bulgaria.
The country's economy is going from strength to strength and property prices remain very affordable.
"You can pick up a flat for the price of a luxury car here," Laurent Schonbach from overseas home insurer Hiscox told the Mirror.
"Twenty-somethings can buy a decent apartment for £40,000 to £50,000," he added.
Bulgaria's economy is doing so well that it is hoping to enter the Eurozone by 2013-2014.
The move would be great for anyone considering buying an investment property in Bulgaria and now may be the time to invest as prices are so low.
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