07.8.2007

Holiday destinations influencing property choices

Kate Hamilton, editor of property magazine Homes Overseas, claimed that enjoyable holidays often encourage people to buy property in certain countries, leading to a correlation between tourism levels and property demand.

This is evident in the Bulgarian property market, as housing demand and tourist activity have both been steadily climbing in recent years.

Ms Hamilton explained: "We are seeing more and more investors moving into the market but even if people are just buying as a holiday home I think they do it with a view of long term investment in mind.

"A lot of people are buying houses that can fill a lot of criteria. They will buy with a view of getting good cheap and longer holidays in the meantime and they may plan to retire there in later years and all that time they are hoping that it's making money for them as well."

If Ms Hamilton's opinion proves to be accurate, demand for Bulgarian property is set to continue to increase in the near future, as tourism is expected to grow in the country next year.

Online travel company Opodo named Bulgaria as its number one upcoming destination for 2007 in a recent study and said that bookings to the country have risen by 40 per cent in the last six months.

Anthony writes for Bulgarian Venture, a Bulgarian proeprty portal with both news and properties for sale.

Source: www.arabia.com