Bulgaria Still Best for Overseas Property Investment
Bulgaria has been named the best destination for overseas property investment, even though its tourist hotspots are showing signs of overheating, according to a new research.
UK ranks as the best for investment returns with Bulgaria second, says the quarterly investment tracker, released by British investment firm Assetz. Making up the rest of the top five are Canada, Cape Verde and Cyprus respectively.
Bulgaria maintains a strong position in the tracker with a total of 71% return on cash invested, but Assetz advised caution to investors, especially in the tourist hotspots such as Sunny Beach and Bansko where there is oversupply of apartments.
However, average prices have increased from 17.3% to 22.5% annually in June 2007, possibly due to a number of 'prestige' developments coming onto the market.