BULGARIA has stormed past Cyprus as the top property hotspot, yielding a near 120 per cent return on cash invested over the past year. With a two-bedroom apartment typically costing ?80,000 and minimum deposit of 30 per cent, the Bulgarian market offered rich pickings during the past 12 months. Yields shot to 12 per cent in areas such as the ski resorts of Bansko and Bovorets and capital gains remained high at 36 per cent, giving a total return of 116 per cent on cash invested, according to property investment firm Assetz. Although the level of house price growth was expected to tail off during 2006, market growth was set to remain high. A stable resale market was emerging too, proving that Bulgaria had staying power. Cyprus was not far behind, offering a lower-risk opportunity. Low deposit levels of 15 per cent were available on property valued at an average ?120,000, while Swiss Franc mortgages with rates of just 3.25 per cent made borrowing affordable. Capital growth was likely to remain at around 15 per cent, Assetz said. That, combined with rental yields of 8 per cent, resulted in 84 per cent return on cash invested in the past 12 months. Stuart Law, managing director of Assetz, said: "Overseas markets are still offering excellent opportunities for investors, with Bulgaria and Cyprus now overtaking some established destinations in total return. "However, investors should remember high return is often associated with higher risk. Established locations, such as France, are holding up well against the competition. With the low deposits requirement of just 15 per cent, the total return is still exceptional at 68 per cent." This article: http://business.scotsman.com/industry.cfm?id=500372006(12.04.2006)