The Independent - Bulgaria: Sofia so good

Robert Nurden sees potential in city flats, ski apartments and seaside resorts.

Who would invest in property in a former Eastern Bloc country? They still haven't recovered from the Cold War, they're full of concrete tower blocks and they queue for vegetables, right?
Wrong, at least as far as Bulgaria is concerned. Thousands of Britons have seen beyond the clichés and are pouring their hard-earned into the country.

The property investment opportunities in this beautiful country, which is set to join the EU in January next year, fall into four main categories. The first lies in the capital, Sofia, which is growing economically and geographically faster than any other former East European capital. The property boom has now hit the centre, with locals themselves pitching into the market - always a good sign.

With the country on the threshold of EU membership - and entry into the euro itself likely in about three years' time - an international and transitory population in this "engine of the country's growth" is inevitable. This means a huge demand for good rented accommodation.

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