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Property In Bulgarias Resorts To Become Less Expensive

Property prices in Bulgarian resorts were expected to decrease because of the over-construction and the lack of clear construction criteria, head of the National Real Property Association (NRPA) Orlin Vladikov said.

An area of more than 780 000 sq m is currenlty occupied for the construction of hotels and apartments in the Bourgas region. In many cases such projects fail to attract investment due to the proximity to other constructions or other faults, Darik Radio reported.

Vladikov said that the relevant institutions had to impose some control over construction in Bulgarian resorts.

At the same time Aleks Bebov from the Bulgarian-British Fund for Real Estate Investments said that Bulgaria was the fourth most attractive property destination for British investors.

France, Spain and Australia were the three most attractive destinations, Bebov said.

British were interested mainly in property in Sunny Beach and other high-quality resorts along the southern Black Sea coast, said Bebov. Bansko winter resort also offered good investment opportunities.