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Bulgaria Favourite Location for Britain's Affluent Homebuyers

Date: 21.11.2006

Bulgaria, Romania, Hungary and the Czech Republic are rapidly gaining favour with Britain's affluent homebuyers, the Guardian reported, citing a study of foreign home ownership.

Spain and France continue to lead the list of destinations.

A second home in the sun is now the boast of more than 300,000 people, more than three times the figure recorded in 1995, the survey shows.

By 2025, it says, there could be around 1.3m British nationals living in other countries.

A warm climate, cheap cost of living and easy access to a second home overseas are the main attractions for buyers.

The study shows that four in every 10 buyers of foreign property believe it will be an investment either to supplement their pension or for their children.

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