Real Estate Still Cheap in Bulgaria

I have a friend who bought some property in Eastern Europe a year or so ago. The cost of real estate in much of that part of the world is cheap compared to the West. His property is a one-bedroomed apartment. His son bought a two-bedroomed apartment next door to it, in one of Bulgaria’s coastal resorts, where the Russians like to take their breaks. As the Euro currently gets almost two Bulgarian Lev, there’s good value for tourists. My friend’s plan is to furnish the apartment now it is fully built, and to engage an agent in Bulgaria to rent it out on his behalf. A nice way to make some fairly regular income.