Bulgaria?

scavin

:beer: Hi,

I want to invest in property abroad which i will rent. One of the destinations i am considering is Bulgaria. Can anyone advise where to buy, costs involved, legal aspects, websites and any other helpful information. To my knowledge sunnybeach is the place to buy at the moment with reasonable prices for 2 bedroom flats.

cheers

stephen

debtfree_WANNABE_6

For investment purposes ive heard Poland is the place to invest (I work at an Independant Financial Advisors)

mystic_trev

Actually Estonia currently has the biggest HPI in Europe. Nice place too - although a bit cold in Winter!

knuckledragger

scavin,
have a look at https://www.blackseaproperties.com and https://www.mybulgaria.info
You sound like you want to buy on the coast so flights would be to Varna at the northern end of the coast or Bourgas to the south. Return flights booked in advance are £163 travelling out and returning on a Tuesday. Many companies do Inspection visits for £250 which includes 3 nights stay in a hotel.

Sunny Beach is very well developed. Growth potential may be increased by purchasing at one of the lesser resorts such as Golden Sands or anywhere in between...

tesuhoha

i saw a tv programme about the top ten places to buy abroad and as the other person said, poland came out number one.

Tassotti

What you have to consider is rental opportunities. I own property in Sunny beach and have a good deal with the developers regarding guaranteed rental.

What you have to look at is if the guaranteed rental is true...ie not just you overpay on the price of the apartment (or whatever) and then the company give you your own money back.

I know of many people that have bought in Bulgaria as an investment, and the rentals just aren't there!!!! People are becoming unstuck, as they have borrowed money to purchase the property and aren't seeing any returns.

People go to Bulgaria because its cheap. Infact, when you go on holiday, do you want the best price possible. Of course you do. Due to the lack of cheap airlines going there, the package deals work out a lot cheaper than booking a flight and then renting an apartment.

However, I do think it is a good investment (obviously as I have properties there). you have to research, research, and then research some more.

What are you looking at? Off=plan, or a renovation project. Also depends on your criteria. Do you want a holiday home that you and your friends can use, or is it purely investment?

Never listen to agents telling you that prices are rising 30% a year...they are not!!

There is no quick money to be made, but if you are looking for a mid-long term investment, go for it. Also, you might get a lovely holiday home out of it.

Good luck

Tass


Oh yeah regarding these "top places to invest" take these with a pinch of salt. Last year, Turkey, Bulgaria, backofbeyond were in the top ten. Now Poland, blah, blah, blah. Look at each country, visit the ones you like best (good excuse for a holiday) and then decide.

Estonia (Tallin) looking good as mortgages are around the 3% mark

knuckledragger

Sun, sea and sand...

Poland- Baltic sea coast.
Summer= May-September 17-25'C

I think I'd rather "take the plunge" in Bulgaria!

knuckledragger

Tassotti,
with Bulgaria joining the EU in 2007, there's a suggestion that some of the budget airlines will start routes out there. If only the likes of Ryanair were doing £99 return I'd be out there like a shot.

Tassotti

There is already a lo-cost airline that flies there. It is a hungarian company called wizzair. I booked a flight 14th May from London Luton to Bourgas for £108 return. Get yourself out there, meet up and I'll buy you a drink (reckon I can afford 60p for a beer) :j

scavin

excellent help so far. im at work and i will check out the links tonight and research further. Sadly i fly from Glasgow and i doubt we have an airline as cheap as that. Enjoy your beer.

Tassotti

Certainly will. You could fly easyjet from Glasgow to London Luton for about 80 quid.

I wouldn't go an an "inspection visit" with one particular agent. Book a holiday and arrange to meet agents out there yourself and view everything available.

Make sure the developers put the Actual purchase price on the deeds. Many companies put a tax estimation price on the deeds(sometimes as low as 25% of actual price), which may save you tax now, but when you come to sell, you will be hit with massive capital gains tax, assuming prices rise.

If you do go out, I can put you in touch with owners of apartments who will be delighted to rent out their apartment to you, but you may find it is cheaper to get a package holiday. And this is the problem for owners.

Best of luck and check out mybulgaria.info

Tass