Bulgaria witnesses surge in foreign RE investment

Foreign investment in Bulgarian property increased to EUR 1.1 bn last year, up from EUR 336 mln in 2005, the country's central bank reported. Spurred on by Bulgaria's entry into the EU on 1 January this year, the foreign investment stream rose 63% in the first quarter of this year, compared to the same period the year before, to an all-time high of EUR 310 mln. The largest group of foreign investors were from the UK (16%), followed by Luxembourg (11%), and the US (9%).