Paul Owen, speaking in the name of the company, said that Bulgaria has become one of the most modish  and attractive locations for investment and was the first market to show such "incredible" growth in such a short term.
However, the country now has competition from other pop up markets such as Poland, Latvia and Montenegro.

"There are a lot of emerging nations with  similar prices by comparison which are relatively unheard of. Bulgaria has got more competition in its niche market," he said.

However, the market in Bulgaria could be maturing, with the resale market likely to "kick off" in the longer term.

"There's a lot of properties being built, there's no doubt that prices have put up in the last few years but the  properties will be sold a second time around, the second wave of buyers will come in," he added.

According to recent AIPP research, Bulgaria is the third most popular destination for UK property investors.



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