Property in Bulgaria 'incredibly cheap'

Overseas investors can currently pick up property in Bulgaria at very low prices, a sector specialist asserts.

Money still "goes a long way" in the country, bucking the trend of the global recession, claims industry magazine Quest.

Coastal property in Bulgaria offers particular value, as investors have the benefit of a low-cost home along with views of the ocean.

"When it's raining in dear old Blighty you will be dining al fresco watching the sea gently lapping at the coast," the publication states.

Prices have fallen by up to 20 per cent in some areas, which means property in Bulgaria is "exceptionally cheap" and many agents are open to negotiation, the source adds.

A two-bedroom apartment in one of the country's top beach resort costs as a little as 43,000 euros (£39,000), with even better bargains to be had in the resale market, the publication concludes.

The country is currently planning to build several new leisure facilities, including golf courses and spa resorts, which may further increase the popularity of property in Bulgaria.