Bulgaria is one of the cheapest countries in the EU for real estate, with new two-beds available from around 70,000, but already prices are rising here, and it's estimated that by the end of this year, property prices will have increased by 20% in 12 months.

New to the market is Moy Holiday Village, a scheme of 420 apartments by Irish developer TJ Developments. On a clifftop site overlooking the Black Sea, Moy Holiday Village is set to be quite impressive, particularly as it comes with its own private beach and good on-site facilities.

In an area of the Black Sea coast known as Varna, this scheme is in one of the most popular holiday areas in Bulgaria, just 40 minutes from an airport, and the developers say there is a shortage of holiday accommodation. New direct "ights from Dublin to Bulgaria are expected to boost the numbers of Irish tourists visiting the Black Sea.

The developers estimate a rental return of 6% a year, explaining that the summer season is about "ve months long, while the winter draws visitors for skiing and gol"ng.

On-site facilities in the resort will include a swimming pool, spa, "tness centre, beauty salon, play area, shops, restaurant, bar, and 24-hour reception .

Price: two-beds from 70,000.

Agent: TJ Marketing 071-9858319