Invest in Bulgaria
Mon 22 Jan 2007
Bulgaria is among the top destinations to invest in for 2007, claims FC Exchange, a leading UK-based commercial currency brokerage. Among the other places listed as most lucrative are Cyprus, central Portugal, America and France, while Spain should probably be avoided, Finance Daily reported on December 11.
FC Exchange, a company that buys currency at commercial rates not available to individual purchasers, believes that Spain’s dominance of the overseas property market – where there are an estimated two million British expatriates currently living – could be coming to end as British buyers look further away for overseas property investments.
“Bulgaria is attracting shrewd investors keen to take advantage of the current low prices, especially in comparison to the rest of Europe,” says Nick Fullerton, director of FC Exchange, quoted by Finance Daily. “The investment opportunities in Bulgaria are as a result of extensive World Bank funding, which has allowed dramatic improvements to Bulgaria’s infrastructure and tourism industry, transforming it from its former communist days.”
Nonetheless, it came as a big surprise that Spain, which for years has been a favourite destination for British buyers, is rapidly losing its appeal. According to FC Exchange, the inflated property prices are just one reason for that. The major turn-off for British buyers, however, is the investigations by the new Spanish government into bogus planning permissions. As a result, a number of new build blocks are being ripped down with little or no compensation for the owners.
A number of different criteria were involved in deciding on the hot spots. Individual economies, the strength of each currency and the supply and demand already present in each market, which always affects prices and availability, were all taken into consideration. FC Exchange advises when investing anywhere that buyers should look out for small independent restaurants, cafes, shops and even estate agents in the local area. These all indicate the arrival of new and affluent locals, FC Exchange says. It also warns investors to be wary of large chain restaurants and stores, as these normally indicate that an area has completed its boom period and the investment is unlikely to increase in value.
Original article published by Sofia Echo
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