FORT NOKS

Just a quick question to put forward:

Seeing that we paid for our investments in Euros and that the Euro is very strong this would normally be a good thing.
However due to Bulgaria still using the Lev how would this work once Bulgaria adopts the Euro?

Would the sale price (in Euro) at the time be the same or would there be a big conversion change?

SunnyBeacher

Hi,

Since the Lev is irrevocably fixed to Euro, there is no exchange risk. The rate today is the same as what will be applied when Bulgaria adapt the Euro so it doesnt make a difference as to how strong/weak the Euro is.

Hope that answers your question!

Mick

From experience in Europe, particularly Andorra a principality and tax haven that used to be relatively cheap for all sorts, including property, they used the introduction of the Euro to bring their prices in line with the rest of Europe. I believe the same might happen in Bulgaria with property prices and everything else but probably to a lesser extent due to Bulgaria being poorer.

Interesting times ahead! Leigh.