Manchester man tries his luck in BulgariaManchester man tries his luck in Bulgaria
A 29-year-old Manchester vehicle lease manager has turned to overseas property investment to make his fortune.
Speaking to the Manchester Evening News, Jonathan Wise has brought two apartments in Bulgaria - one on the Black Sea coast and one in Basko.
Mr Wise said he used Pireaus Bank to handle the transaction for the Black Sea apartment and that he bought the Basko home via an off-plan developer.
"I decided that it would be a good idea to invest some of the equity from my property in Manchester into a place abroad.
"The [Basko] apartment is in a complex called The Grand, which is next to the gondola in Basko. Building work has been held up this year but I think it will be worth the wait."
He has also bought a piece of land on the coast, on which he intends to build apartments.
Earlier this month, it was reported that the Bulgarian cities of Varna and Sofia have been identified by analysts as good investment opportunities.
According to PropertySecrets.net, high demand for property from overseas buyers has strengthened the Bulgarian economy, which in turn has made it more rewarding for UK investors.