Bulgaria Back to Top 10 Best Places for British Buyers

Bulgaria’s Black Sea coast has been very popular among Britons looking for their own place in the sun. Recently it has also been hit by the plunging price drops in foreign markets. Photo by Sofia Photo Agency

Bulgaria has partly regained its popularity among overseas buyers, breaking back into the top ten most preferred real estate markets for Britons, according to a UK guide for residential property.

3.3% of all enquiries in July were directed at Bulgarian property, marking the country's return to the overseas property portal's top ten for the first time in three years, TheMoveChannel.com report said.

In the comparative list of overall enquiry volume for last month Bulgaria ranked seventh, overtaken by Brazil and followed by Turkey.

"As the Euro debt crisis continues, people are looking for bargain investments and holiday homes at low costs. Bulgaria's real estate sales have been improving all year, with buyers attracted by exceptionally low prices for winter property, so it's no surprise that interest has increased," commented the portal's director Dan Johnson.

The most popular destinations for a place in the sun overseas remain the same, with Spain staying in the top spot for a second month running. Together with France, USA and Portugal, the traditional destinations account for over a third of all property searches from buyers interested in property abroad.

Owning a second home abroad was once the preserve of the super-wealthy, but in the past decade a heady combination of TV property shows and cheap mortgages has convinced an estimated half a million Britons to buy their own place in the sun.

The value of UK-owned foreign property investments peaked at GBP 58 B in 2008, up from GBP 10 B in 2000.

Recently however British owners of second homes overseas, including Bulgaria, have been selling up due to falling rental income.

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