Capital Appreciation - Doing the figures

Just as an appendage to my previous post, I found this piece of information on Balkanskichalet.com

"Property prices on the Coast and in the ski resorts have increased by 40% in the 12 months to April 2004. Forecasters expect prices will continue to increase at 20% to 30% annually until 2007 at least (the year of EU accession for Bulgaria)"

Doing the figures on a house bought for €35000...your investment after three years averageing 25% capital appreciation each year would be worth close to €68,500. That amounts to more than 95% capital appreciation over three years! It's no wonder canny investors are flocking to Bulgaria.