Is Bulgaria the Next Undervalued European Gem?

The Champagne corks were surely popping with extra oomph in Bulgaria this new year's day. That's because the country joined the European Union on January 1, 2007, and it may well be poised to be the next undervalued gem in the new Europe.

A little over a decade ago Prague and the Czech Republic attracted visitors, investors, and moviemakers with its Old-World charm and very affordable prices. Bulgaria and its capital, Sofia, could be headed for similar success due to the EU membership.

With mountains, seacoast, ski slopes, and 1,600 mineral springs, it's no wonder the country came in as the number 4 tourist destination worldwide in a survey by The Washington Post. Despite these attractions, Bulgaria property can be bought at some of the lowest prices in Europe.