Bulgarian property still ‘ridiculously cheap’

Investors can still find bargain properties in Bulgaria, an industry expert has commented…

Chris Northam, managing director of Balkan Holdings plc, also said that existing housing stock in Bulgaria is often a better investment than buying off-plan.

He explained: "There are new build off-plan developments and the old existing housing stock.

"The latter, in the main, is still relatively inexpensive compared to almost anywhere else in Europe. In some cases it’s quite ridiculously cheap by western European standards."

He continued: "It is a better potential investment than off-plan properties because in a number of areas, a little bit like Spain, they have developed too much too quickly.

"Supply exceeds demand in certain areas of off-plan."

According to recent Green Life Property Development (GLPD) report, the prices of estates have increased by some 18 per cent in Bulgaria over the course of the year.

UK citizens accounted for 20 per cent of these real estate deals.