Sofia - more attractive than Paris for property investments

Sofia ranked ahead of other European capitals such as Prague, Helsinki and Paris in terms of attractiveness for real estate investment, reported the UK Daily Telegraph. Bulgaria’s capital ranked 17^th among 20 cities on the Old Continent. Among Sofia’s advantages to the other cities are the profitable rents for owners and its disadvantages include the relatively low profits, the high transaction costs, the moderate tax on rental income, corruption and crime problems.

Hungary’s capital Budapest tops the list. Fair profitability, low to moderate transaction costs and the legislation protecting landlords are the positive sides of the winner in this ranking. Among its negative aspects are the light restrictions on ownership and the moderate to high taxes on rental income. Macedonia’s capital Skopje ranks second. High gains, advantageous rents for real estate owners and low transaction costs are the positive aspects of the property sector. Serious restrictions on ownership, political problems and security concerns are among the disadvantages.

Amsterdam ranks third after Skopje. The country’s strong economy and good profits from rents are the most advantageous aspects of the city. However, it seems that the market is governed mainly by the tenants who set the terms and dictate the rules when it comes to deals. Another Balkan city ranks next on the list. Istanbul is Turkey’s pearl occupying the fourth place among the most attractive cities for property investment. Next come Croatia’s Zagreb, Estonia’s Tallinn, Germany’s Berlin, Italy’s Rome, Latvia’s Riga, Moldova’s Chisinau, Poland’s Warsaw and Romania’s Bucharest. Slovakia’s Bratislava, Slovenia’s Ljubljana, Austria’s Vienna and Belgium’s Brussels also rank in front of Sofia. The Czech capital Prague, the Finnish city of Helsinki and the city of love Paris are behind Sofia in the rankings but also are on the Top 20 list for real estate property investment in Europe.

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