UK-based overseas property investors are being advised to approach the Bulgarian buy-to-let market with caution.

Les Calvert, director of Property-abroad.com, said the first thing British investors needed to consider was the sort of term they were looking at, whether short or long-term, purely for capital growth or as an investment rental.

He added that the ski season was very short in Bulgaria, like the summer, and suggested investors would need to be careful if they were looking purely for rental yield.

"They need to be careful where people have built-in rental schemes guaranteed - for instance, if you buy your property and it has guaranteed six per cent rental for two years," he said.

"Obviously [investors should] make sure they check out each development and where the guaranteed rental [income] is coming from. Make sure that they have got some sort of legal representation over there if they are buying a house or something that sits on land, as they will need to set up a limited company. But apartments are fine."

He concluded that Sofia and Varna were good locations to invest in, or any city that doesn't rely on tourists for rental income, adding that cities are place where people "live and work".