Bulgaria has been hailed as a property market which offers stability to foreign investors.

According to Quest Bulgaria magazine, there has been a glut of contradictory reports about the country's housing sector over the last few months.

The publication has insisted that although analysts are divided about whether there is growth, a downturn or total stagnation, the market is in fact fairly stable.

Quest Bulgaria said the different conclusions of various reports are reflective of regional variations across the eastern European country.

"There are pockets which are not doing well, yet there are equally many areas where prices are doing consistently well," it commented.

The publication added that maturing of the market is one reason for the apparent slowdown in parts of Bulgaria.

By cooling off from 35 per cent to about 10 per cent, the rate of growth in the country was said to now be more reasonable and sustainable.

This comes after the Sofia Echo cited official figures showing that the price of residential property in Bulgaria went up by three per cent during the third quarter of 2008.