Inexpensive property continues attracting British buyers to specific countries in Europe, Macedonian newspaper Vreme reported quoting a BBC report on Bulgaria.

Yet, reality was different from the expectations of foreign buyers, the report said. Formerly communist East European countries failed offering major investment return opportunities.

A number of investors were not careful enough, which could lead to the loss of significant amounts of money, Vreme reported.

While Britain was planning to introduce labour market restrictions for Bulgarian and Romanian workers upon the EU entry of the two countries, British buyers were increasingly attracted by Bulgarian property.

British bakers predicted that a quarter of all mortgages taken by 2020 will be needed for the purchase of property in Bulgaria.