property abroad

mickswa

anybody bought abroad especially bulgaria

tightwadapprentice

If there is anybody out there that has purchased abroad, especially Bulgaria then I would also be very interested in your thoughts.

They say Bulgaria is where Spain was ( not literally ) 15/20 years ago, so there could be great potential for a good return in the long run.

They are also starting to build some good quality properties at very good prices.

Any thoughts would be greatly appreciated.

MattLG

I've looked into this quite extensively and there are a lot of people losing money in Bulgaria. There just isn't enough flight-only deals at the moment to justify the quantity of holiday let properties, most of the tourists are doing package holidays there.

Having said that, prices are still going up very well, so if you can afford to pay the mortgage on a place over there with little or no income from it and wait for the value to go up, then that might be worth doing.

You could also buy now while they're cheap and wait for the flight-only deals to pick up in the future.

I've decided to keep out of Bulgaria (esp. the coast) purely because "everyone" is doing it. It's much better to do these things when there's very little competition.

MattLG

mad_jacqui

like where?
there appears to be nowhere that is yet undiscovered that you can actually get to!!!

LilacLillie

I bought a place in May 2004, in Bulgaria, on the black sea coast near Albena. Spend a fair bit of time there. Came back last week, beautiful weather! PM me if you need any advice................or go to: https://www.mybulgaria.com

or is that .co ????
LL

gallygirl

Have just replied on a similar post. Have just bought on Costa Almeria, but think Egypt worth looking at, especially Red Sea for diving hol lets.

Bit concerned about build quality & planning for Bulgaria - looks like some parts are like Costa Blanca?????

Also thought of Turkey - but too many earthquakes.......

budgetflyer

mad_jacqui wrote:

like where?
there appears to be nowhere that is yet undiscovered that you can actually get to!!!

I've got this facination for BRAZIL. It looks like paradise. Cost of living is 20% of UK. Property is SO cheap. Was considering off plan purchase at "Solar Village" 8 months ago price was £22K -bottled it -price is now £30K AAGGHH
http://www.forcetenproperty.com/html/portfolio/details.asp?portfolioID=26

Conrad

I researched Bulgaria 3 years ago, even went to chese and wine party for investors at the Bulgarian embassy.

I decided against for these reasons;
1.) short rent season
2.) Poorly regulated and easy to get ripped - off
3.) For B2L you must submit Bulgarian company accounts - nightmare
4.) I was told that foreign property is targeted by Romany gangs who strip your property when its vacant, although I was told a way round this is to let local vilaagers use the propertyt garden for free for chickens etc

In the end Ive gone for Germany as its the only major western nation not to have yet had a boom, indeed prices have fallen dramatically since 1997.

Easy to get to, nice and safe. You can let through corporate agencies on short term lets or buy land (as I am) and sit on it.

The point about investing is to be ahead of the crowd.

Im also considering N East Brazil and Morroco as well as another 'secret' location.

brigittejohn

The website does not seem to exist anymore.... was it a scam perhaps... a warning not to buy off the internet....

ioscorpio

http://www.themovechannel.com/News/2006/September/8e.asp?ito=EC1001

LittleTinker

We are currently looking to buy property abroad and have done extensive research.

The first question you need to ask yourself is Why you want the property?

Are you wanting a rentel income?
Is it in the hope of a rise in property value?
Do you want a holiday home?
Is it a development venture?

We are looking for 2 properties one for development and one for investment.

We discounted Bulgaria on both counts due to several reasons.
1. Too many developments.
There are currently around 2 houses per person in Bulgaria and supply is far far far outweighing demand.
2. Poor regulations and too many obstacles.
3. Language difficulties.
4. Corruption.
5. Shortest Summer season (coastal properties)
..........and more!

If you were thinking of buying and living there though, I think it would be a great cheaper option.

For investment.......try the Caribbean, Panama or Brazil. (Trump is there so it cant be all that bad )
For development abroad we decided on Portugal, away from the Algarve.
But thats just our opinion based on our research combined with comfort, likability, and due dilligence.

Good Luck!