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Bulgaria is 'inadvisable for an expatriate'

People looking to move abroad and become an expatriate are being advised not to buy property in Bulgaria, according to Country Life.

Holly Kirkwood has warned any potential expatriate that Bulgaria has become an increasingly risky place to buy property due to the effects of the global economic downturn.

"The less informed may be left with their brand new buy-to-let holiday flats in Europe’s ‘latest ski destination’ spiralling down in value and practically un-sellable," she said.

"This is looking like a worrying trend in emerging markets during the current downturn, and it’s the wise buyer who stuck to tried and tested markets who will come out of it best in the end."

Ms Kirkwood went on to say that destinations such as the Cote d’Azur, Monaco, Portugal and the Caribbean islands of Barbados, St Lucia and Grenada are continuing to be popular with expatriates from across the world.

Research from HiFX revealed that the number of people enquiring about emigration has increased 30 per cent in the first half of 2008 compared to last year.

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