Holiday Lettings news - Sofia so good - 'now is the time to invest'

Sofia so good - 'now is the time to invest'

Bulgaria's capital, Sofia, has been earmarked as the site of major regeneration, as the city looks set to grow in size by 25 per cent this year, according to property market analysts Property Secrets.

In a bid to keep up with demand, Sofia's architects are facing a huge challenge but have come up with a master plan. Already the most densely populated and built up part of Bulgaria, Sofia is fast running out of room for projected growth, meaning every possible site possible has been set aside for construction.

Neil Lewis, of Property Secrets, explained the Bulgarian capital's attraction for property investors: "Sofia is a favourite hot spot for property investors as it potentially offers ultra-high returns, combined with excellent long-term prospects," he said.

"It is just at the start of its growth curve, so there is plenty of room for growth...We predict that 2008 will bring further growth of between 20 to 25 per cent." Property investors can pick up a new home in Sofia for prices that are "well below other EU and CEE countries", Lewis added.

Married with the status that being a capital city brings and the good transport links in and around the city, "now is the time in the time to invest in Sofia", Lewis concluded.

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