Bulgarian property markets still have potential
British Telegraph reports on the state of Balkan markets Bulgarian property markets still have potential.
European business editor Ambrose Evans-Pritchard has made a review of Bulgarian and Romanian stock market and the opportunities for investments. The Romanian and Bulgarian stock markets have both tripled over the past two years in anticipation of imminent EU membership, but analysts insist there is still plenty of money to be made in the 'tiger\' economies of the forgotten Balkans. Plamen Monovski, manager of Merrill Lynch's Emerging Europe Fund, said that in Bulgaria car sales rose 46pc and property prices by 31pc last year, one of the highest rates in the world, with 5.7pc GDP growth forecast this year. However, the IMF has warned against overheating. Even so, Mr Monovski said the equity and property markets still had potential. “Property prices are still very low compared to areas of similar beauty and geography. Bulgaria is a country where you can ski six months of the year, yet there are lovely beaches not far away," he said.
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17 April 2006 |
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