"Investment has been the incentive for most buyers in Bulgaria, with off-plan apartments forming the bulk of sales. But a new trend is emerging as a growing number of Brits encounter the charms of this diverse country and opt to move there permanently", Independent wrote.
Sunny Beach on the Black Sea Coast has so far drawn the most buyers, and signs of development are everywhere in this buzzing resort, the newspaper continues.
The newspaper has talks to real estate experts explaining that most of UK buyers often opt for period properties in small villages.
"Bulgaria has high unemployment and some of the lowest wages in Europe, around EUR 200 per month, and this alone will attract companies to base themselves there, resulting in many more British employees being relocated", Independent cited an British real estate expert as saying.
Prices on Bulgaria's coast have risen significantly in the last few years, many agents reporting year-on-year rises of 25% in most resorts and even 100% in certain hotspots but, while investors are attracted to the coastline, people moving permanently often prefer to be based inland.
READ FULL Text of the Independent Article in Views & Records Section
15 March 2006, Wednesday
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