Property in Bulgaria 'rising in popularity'

The popularity of investing in a property in Bulgaria is increasing, according to the results of a recent survey.

Research conducted by overseas portal Property Abroad has revealed that the country is now the eighth most popular in the world among expats, rising one place since last year.

While buying homes in many countries has become less popular during the recession, the fact that Bulgaria has the leva rather than the euro is enticing people who feel their money will stretch further in the Balkans.

Les Calvert, director of the organisation, says fluctuating exchange rates have a significant influence over people choosing property in Bulgaria instead of areas such as America.

"Last year, prices fell sharply but the UK was still in relatively good economic shape. Since then the UK has fallen into recession and the pound has weakened against the dollar," he comments.

In related news, property in Bulgaria will soon experience another boom period, thanks to the low cost of accommodation in the country, according to industry magazine Quest.