Article published on: 2007-12-05

Tight conditions for mortgage loans and high interest rates are making Russia's property market less attractive and push property investors to Bulgaria, Cyprus, Greece and Montenegro, Russian daily Kommersant reported.

The article describes the local market as heaven for investors, who can expect high returns, an average 20%-30% annual rise in property prices and low interest rates on mortgage loans.

Renting out makes it easier to pay off credit, the article adds.

Russians' interest in Bulgaria's property market is fuelled by the country's good reputation as traditional destination for the summer holidays. 

Source: www.novinite.com