Overseas property investors have got to look seriously at two of the poorest countries in Eastern Europe for their potential for high capital growth. Both Bulgaria and Romania have experienced their share of problems in the past, but both are now looking like good prospects. Overseas Property Centres columnist Scott Huggins tells us more.
Forgotten for decades behind the Iron Curtain, the two countries suffered from poverty, corruption and slow economic development. They have overcome many obstacles in their bids to prove their eligibility to join the European Union.
Now the EU has accepted their admission, the boost has been tremendous. Crucially, this move into the mainstream of Europe gives Bulgaria and Romania a more reputable platform for further growth and development.
They are now in a position to invite investors in and receive serious interest from around the world.
So, how does each country stand at the moment?
Bulgaria has already established itself on the tourist map and there has been significant growth in the country over the last five years. Driven by vast levels of foreign investment, I believe there is still plenty more to come.
Romania , on the other, has yet to really take off. But that’s not to say it won’t. In fact, Romania could be on the top of the bill because it is still virtually undiscovered. In that sense, it has the biggest opportunity for capital growth.
So Bulgaria is ahead because it has already pulled in plenty of foreign direct investment and boasts established tourist areas like the Black Sea coastal resorts. However, Romania is definitely the dark horse of the two.
My plan is to watch both very closely to see what opportunities arise in investment terms and, as always, make sure I move early to maximise returns.
Key Points:
- Both Bulgaria and Romania are now members of the EU.
- Bulgaria is on the tourist map, Romania is hotting up.
- Look for property investment opportunities in both Bulgaria and Romania. Black sea coastal resorts still look good, Romania a dark horse but well worth looking more closely for the intrepid investor.
- Learn more about Bulgaria overseas properties.
- Learn more about Romania overseas properties.
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