The Right Move Abroad is currently marketing Cherkovna Apartments, a property development aimed at professionals and a short walk from the historic inner core of Sofia. Michael Johns, the company's director, feels that the price per square metre of this Sofia property development is highly competitive: "Cherkovna Apartments are priced at £913 per square metre, which is extremely well priced for this area considering the huge potential for high rental income," Johns explained. Prices start from £64,225.

Alternatively, building work is also well underway in some of the more exclusive outlying districts of Sofia. One such property development is at Sofia Golf and Country Club, where a range of 33 apartments available from Barrasford and Bird starts from £50,000. Robin Barrasford, managing director, also feels that the expected stampede of workers means the apartments are an excellent investment opportunity as they could appeal to those city workers who want an evening retreat from Sofia.

"Those that are looking to invest in the Sofia region could easily benefit from renting their property for long periods to the influx of specialised workers. With travel time to the city being minimal I would expect to see investors in Sofia Golf and Country Club benefiting from good capital appreciation," Barrasford predicted.

Should the property market in Sofia explode like those of Budapest, Tallinn and Riga did following the mass EU accession in 2004, these predictions could be proved right.

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Article first published on 17th July 2006