I thought I would publish this short note for those potential investors in Bulgaria who are concerned after the UK referendum result.
As I mentioned in my last post, absolutely nothing is going to change in the next two years from when Article 50 is invoked.If indeed Article 50 ever is. Even the Brexit fanatics are talking 2020 now, and leaving the EU may prove virtually impractical (if not impossible).
UK citizens can still safely buy property in Bulgaria , as indeed they did before Bulgaria joined the EU in 2007.Remember the most significant increase property prices took place in 2003-2007.
The pound remains volatile, and that will continue.It is just as likely to rise as well as fall and investors must make a judgement about the most judicious time to transfer their money into , for example Euros (which are pegged against the Bulgarian Lev and therefore not subject to fluctuation).In the last few weeks since the referendum, the pound has rarely moved from the 2.33lv mark and this appears to be where it has settled (I am updating this on 7th August 2016)
Property prices in Bulgaria remain very low and could even go lower as a result of the economic uncertainty caused by the exit of the world's sixth largest economy from the EU.
In other words it is by no means all bad news.
For further information either post here or e mail Info@gobg.co.uk
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