In terms of investing abroad, Bulgaria's capital of Sofia ranks as the city with the third most attractive property in Europe, according to new research.

The study carried out by Global Property Guide (GPG) compared several factors which were judged to contribute to the attractiveness of buying property in 12 European capital cities.

Some of the factors included prices per square metre, annual rental income, taxes, transaction costs, GDP and legislation in the country, the Sofia Echo reports.

Bratislava and Istanbul took the first two positions respectively, while Sofia came in third.

Many property analysts have speculated that house prices in Sofia will continue to rise in the years ahead following Bulgaria's accession to the EU.

Bulgaria is often considered particularly attractive because its Black Sea Coast is comparable to Spain's Costa del Sol, but with typical property prices tending to be far lower.

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