Member Article

NE residents banking on Bulgaria

Research by a local businessman has discovered that North Easterners are proving to be canny investors in the property world. Property developer Paul Robson’s recent research shows that 90 per cent of people who have bought properties in one particular apartment block in St Vlas in Bulgaria are from the North East.

Paul said: “The statistics speak for themselves and prove that there are a lot of shrewd investors based in the North East. Although we knew that a lot of people in the North East have been flying over in recent months to look at properties in Bulgaria, even we were surprised at the level of investment from the area. “It proves that Geordies are no-ones fools when it comes to property investment as recent statistics show that there is a possible 20 to 40 per cent profit expected next year, especially in sought after locations like St. Vlas.”

Research also suggested that many of the investors across the country were using their purchases as investments for the future instead of putting their money into savings. Mr Robson, also expects that as many as one in six people will consider buying a property abroad in the future.

This was posted in Bdaily's Members' News section by Ruth Mitchell .