Tourism success could increase rental demand

Investors looking to rent out their property in Bulgaria have been buoyed by an 18 per cent increase in foreign visitors to the country during the first nine months of this year.

According to Bulgaria National Radio, chair of the country's state agency on tourism Anelia Krushkova revealed that the number of tourists from Romania, Germany and the UK saw some of the largest increases.

The forecast for the end of the year represents a 20 per cent increase on last year's figure, she declared.

Vetko Arabadjiev, from the union of investors in tourism, said that the sector would also be unaffected by the financial crisis as it would not impact upon the types of tourists who usually holiday in Bulgaria.

He also suggested that the country should focus on increasingly promoting itself abroad as a cheap destination that still offered good quality service.

This could be welcomed by investors, who recently enjoyed a 12 per cent increase in rental demand over the first three-quarters of this year, according to Address Real Estate.