Bulgaria - World Leader for Property Investment

Bulgaria property investment has proven to be the country's economic driver with a record-breaking turnover of €11.36 billion in 2007, investment company Obelisk International says.

As the world's strongest property market in 2007, Bulgaria property investment has made a huge €2.36 billion increase on 2006 figures, and is successfully keeping up the momentum for 2008.

Many local and international property experts predicted the year's increase to reach 25% to 30% however by September the market had actually risen by 32% and many major cities, such as Sofia, are already recording impressive growth this year.

The huge property price rise has been largely attributed to a good mortgage market, high annual revenue of properties and the weak impact of the world's financial crisis on Bulgaria. The Bulgarian financial market has not been impacted by the US sub-prime crisis due to no cross-border banking, with consumer borrowing continuing at a steady growth rate.