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Surprisingly, It's Young Foreigners Buying into Bulgarian Real Estate
The Bulgarian real estate market experienced its high in 2006 when records showed about a third of the country's properties were being purchased by foreign investors. The year 2007 is no different, about the same percentage of Bulgaria's market has been bought through foreign funds. What is surprising is that the younger set showing aggressive purchasing power in real estate investment, usually from the 20 to 35 year-old bracket. Most of them from these age range are moneyed British nationals willing to part with their cash for quality property.
QuestBulgaria, an English monthly magazine for property buyers, revealed that the younger set are choosing to buy property outside the UK due to the steep prices. Quality and cost-efficient homes and property are within reach for first-time buyers in other countries like Spain and France, two top choices when it comes to real estate investments. Bulgaria is the third best option for these young investors who want their first foot in when it comes to property investments.
Foreign buyers seeking property in Bulgaria are proving to be major movers where the real estate industry is concerned. It is the under 30s who have much money to burn yet cannot easily penetrate the real estate industry in their own countries due to high prices. Bulgaria data will show that clientele of real estate agencies are mostly from this age group, extending up to their 50s, and much of the transactions they have sealed involved foreign investors.
Bulgaria's property market, once known for cheap properties that were taken up by retirees and high-risk investors, is now accommodating to the needs of younger foreigners who want sound investments as a fair exchange for lower-priced quality homes. Bulgaria among the good choices for such investments compared to the staggering prices of property in the UK.