Bulgaria: time for property investors to return?

Property prices in Bulgaria have risen for the first time in four years, according to the latest research published by Knight Frank.

The company’s report found that while prices fell by 2.6 per cent in June 2012 compared to the previous year, the bigger picture is more positive.

Prices dipped in the first three months of 2012 by 0.3 per cent, but the slip was almost reversed in the second quarter of the year, with values rising by 0.2 per cent; the first increase in the market since 2008, when many overseas property investors started snapping up cheap Bulgarian real estate .

While the price rises are small, Knight Frank’s research hints that now might be the time to start considering Bulgaria again.

The country was ranked 39th in the company’s Global House Price Index, far above the falling markets of Greece, Spain and Italy, making it one of the best performing markets in Eastern Europe.