“There is no bubble in the real estate sector in Bulgaria and there is no danger for such,”Lux Properties director Nikola Stoyanov said in an interview for ProfitTV.

There may have been certain worries in the past several years, but the danger has passed.

Some of the larger cities in Bulgaria still hold a potential for price hikes. Home pries in Burgas and Plovdiv have increased significantly in the past years and almost caught up with Sofia and Varna.

Prices in Burgas may continue to grow even further, Stoyanov also said.

Another city which saw not only appreciation of homes but a stable economic growth as well is Ruse. Nikola Stoyanov advised investors to pay attention to the city on the River Danube.

In spite of the construction boom in the last years, few properties in Bulgaria are really luxurious. There are some good gated residential complexes though, Stoyanov pointed out.

There are many qualities a property needs in order to be defined as luxurious. Those include infrastructure, the materials used in the construction, the view etc.

The gated residential complexes, which became very popular in Bulgaria in the past years, are an example of good quality. Besides the properties themselves, those also offer amenities and infrastructure such as green areas, recreation and sports facilities, day care etc.

Demand for luxury homes will be increasing in the next years. The reason is the rising living standard in the country.

Such properties in the cities are primarily sought by Bulgarians, many of which are buying with the purpose of holding the property as an investment. Most Bulgarians prefer an apartment that is completed, while foreigners are wiling to buy even before construction has started.

As far as resorts are concerned, most buyers there are foreign citizens.