Bulgaria has to offer temptingly cheap property both along its Black Sea coast and in the capital Sofia, writes Bloomberg columnist Matthew Lynn. Lynn reports that prices in Bulgaria have not caught up yet with West European standards. As the country is experiencing fast modernisation and economic growth, the prices of real estate might increase in the long run but for now remain favourable. The author predicts that similar developments will occur in other East European emerging economies. British real estate experts said that last year 146 000 people purchased real estate abroad. The Bulgarian market grew by 40 per cent and British experts predict further annual growth of 10 per cent. 'You can buy a two-bedroom luxury flat by the sea in Bulgaria for 40,000 pounds, which is less than the average British house has gone up in value by during the past two years. So we think there is going to be big demand from foreigners for holiday properties in the country,' the article states.