Bulgaria btl: look before you leap

Buyers considering BTL in Bulgaria need to proceed with caution, claims Quest Bulgaria…

The magazine’s January 2008 issue outlines the pitfalls and plus points of the country's buy-to-let market. Over the past five years, it says, demand for rental homes has shown a dramatic increase, both from the consumer and supplier. The arrival of low cost airlines from all over Europe, the growth of sea, ski and golf markets, plus increases in city-based jobs as foreign companies move into Bulgaria, are all fuelling demand.

Quest Bulgaria managing director Chris Goodall commented. "There are pitfalls but the returns can be good. There is money to be made by investing wisely. Before you buy, research the market thoroughly and assess realistically whether the rental income can pay part of the mortgage on a rental home. It's all about home-work. Do it, think about it and then, if you're happy about it all, take the plunge.

Richard Jones from Pride Property Services said: "The most popular holiday rentals are villas with pools, pleasant outdoor areas and close to the Coast. Many apartment owners only require short term letting contracts but unless the property has a good view and a central location this is not easily achieved.

"It's a question of people thinking hard about their investment and doing their research and obviously long-term lets are the best for the investor."