investing in bulgaria

imported_goldie

Just wondering what your views are on buying property in Bulgaria in the hope they will be agoodinvestment when they join the EU? Our local Estate Agents has some properties in Bulgaria from 5,000. Would these be a good investment (they are in rural villages) or is it just properties in the main resorts by the sea that would make money?

F_T_Buyer

I wonder if estate agents in Bulgaria would advertise properties in the UK?

Says it all really, doesn't it.

imported_goldie

The Estate Agents I mentioned actually have a Branch in Bulgaria and have over 1500 properties on their books. Just wondered if it was a goodinvestment.

F_T_Buyer

Ok, fair enough.

To be honest I don't know that much about Bulgaria, but I have heard how difficult it can be to sell out there. Most people seem to be buying because 'it's going up in value', but do the figures add up? Does the rent cover the mortgage?

To me it sounds like a bubble, but it might have a fair way to go before popping.

mcbutler1962

make sure you visit, many properties look and are wonderful. However they may be many miles from a proper road, shops, med facility etc.

Basically you get what you pay for.

Are you in Plymouth by any chance?

cboo

HI, we are thinking of investing in a property in Bulgaria as well, but we would not be wanting to rent it out. You would definately need to go over there and see what resorts, places etc are like before you think of investing.

hope that helps

itsakidsworld

Do your homework about any Country you are thinking about investing in before you even look at property. Buy books, check the net, ask ( like you are doing). You will always get good and bad opinions as you are asking people about the experience they have had!!

Good deals can be had in most Countries but you need to know legal aspects and tax issues before deciding. This gives you the platform to move forward correct with a little knowledge.

If you fancy the idea of Bulgaria, take a holiday there first for two weeks. Combine the holiday with checking out areas with a hire car and map. Gather information along the way and check out agents shops. Websites can make an agent look fantastic but when you get over the agent is not as good. Then if it appeals go back again and see how you feel, THEN contact an agent.

The issue of spending £5000 on anything is entirely your decision. A Country property in a poor country will be cheap and if it is not isolated could be a great retreat for you. But think about the pros and cons before making any decision.

The big mistake alot of people make when buying abroad is that they believe the rubbish that they get told about prices going up faster than an escalator and so if you don't buy today its too late!!!! 99% then regret what they did!! Take it slow, do your homework and you will be fine. Always be in control.


Good luck

lynzpower

Excellent advice there IAKW

BobProperty

Hasn't Tassoti got somewhere in Bulgaria? I think it was he who posted about it recently, I suggest the OP does a search back through this forum.

imported_goldie

Thanks everyone for your views. Will look into it a bit more then book a "viewing" holiday if I decide to go ahead with it.

F_T_Buyer

Bulgaria? Beware

British buyers on the Black Sea may have to face some hard facts, says Sarah Marks

http://www.timesonline.co.uk/newspaper/0,,176-2267408,00.html