Hi, Do you think Bulgaria will ever be the new Spain or do you believe that there has been too much over supply on the coast and in the Ski resorts for this to ever happen. Also do you you believe that the midset of the Bulgarian people and the poor infrastructure will hold the market back for showing signs of becoming the new Spain.

Hello. I have 2 properties in Bulgaria and we are moving out there next month...permenantly. Being associated with the building trade and to a lesser extent, the tourist industry, I have studied the Bulgarian market quite closely. My own observations of the market as they are now are somewhat reminiscent of Cyprus 20 years ago but the Bulgarian infrastructure is more advanced now than Cyprus was then. My view on the Resorts, beach and ski are purely long term and for personal use. Letting will aleviate most costs but probably not all and this is purely due to over supply. Depending on merketing strategy and profficiency of the letting agent, it is possible to generate a yeild of around 7%. One market that is overlooked by potential investors is the rural sector. Since assension into the EU, the EU has pledged several billion Euros over the next 12-14 years for the development of rural tourism. With approximately 1 in 4 Bulgarian houses for sale in rural areas, the choice can be overwhelming. As with any property investment, due diligence is a must. Sevices, infrastructure, transport links, locality, etc. Providing you can put more ticks in boxes than crosses and have spent sufficient time doing your due diligence, profits of between 50-70% are realisticly achievable on renovated rural properties, with yeilds of around 10%. I look forward to any opinion that either supports or refutes my view, so please, lets keep this thread going! Kindest regards, Dave Roberts.