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Greek Investors Eye Bulgaria's Real Estate Market
Updated: 2005-12-20

Greek Investors Eye Bulgaria's Real Estate Market 

Novinite.com

Business
More and more Greek investors are showing interest in Bulgaria's real estate market, Greek MPA news agency reports.

Bulgaria's property market has also attracted the attention of investors from the UK, Israel and Cyprus. Return on investments in that sector remains high and it is believed that the prices have not reached their climax, the news agency points out.

Official data showed that the average annual return on investments reached 12% to 13%, whereas unofficial figures claim that it is up to 60%.

Within the Money Show conference in Thessaloniki it has been revealed that more and more Greek companies are purchasing land and constructing in Bulgaria. Data presented at the conference has showed that the Greek contracts that are about to be inked by the end of 2005 would reach EUR 1 B.

Bulgaria's entry into the European Union is expected to attract even more investments in the fields of logistics, transport and advertising in the country, the news agency also comments.

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