Investors 'increasingly researching' property in Bulgaria

Overseas investors are increasingly conducting their own research into property in Bulgaria, according to an expert.

Liam Bailey, director at sector specialist Write About Property, says the global credit crunch has "changed the face" of investment in property in Bulgaria, as potential buyers take fewer chances based on word-of-mouth.

He explains: "Investors are doing their own research at the moment and are looking at individual properties and individual regions on their own merits and trying to do as much research as possible."

Mr Bailey adds that fluctuations in exchange rates are not an adequate indicator of the strength of certain regions.

According to the specialist, changes in the currency market are currently acting abnormally as some countries perform more strongly against certain nations, but weaker against others.

The recent Global House Price Index released by Knight Frank reveals that over 80 per cent of locations reported decreases in house prices in the last three months of 2008, which may result in bargain homes becoming available for those buying property in Bulgaria.