investing in bulgaria

westernpromise

F_T_Buyer wrote:

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

It is actually the UK bubble moving overseas. Who is going to buy this investment property in delightful Bulgaria off you, in a few years' time when you want out so as to crystallise your capital gain? Why, someone else from Britain, that's who!

westernpromise

RHemmings wrote:

Hello. What do Bulgarians think of people from the UK and Ireland buying up large amounts of property in Bulgaria?

Good question. I myself would never buy a property in any corrupt and undemocratic foreign country in which there is no effective policing, ramshackle infrastructure, widespread poverty, serious ethnic division, and a government of essentially unreconstrcuted communists out to enrich themselves.

That is why I'd never advise a Bulgarian to buy a property in Britain.

gallygirl

westernpromise wrote:

Good question. I myself would never buy a property in any corrupt and undemocratic foreign country in which there is no effective policing, ramshackle infrastructure, widespread poverty, and serious ethnic division.

That is why I'd never advise a Bulgarian to buy a property in Britain.

:T :T :T :T :T :T

InterE_2

After talking with lots of Engish/Irish people in Bulgaria, my conclusion is that 90% are planing to invest money and 10 % pure tourists! Most are looking for an old house in some village 20-30 km away from the sea and some big city (very bad idea), others are buying apartments (much better idea).

Old houses are often realy VERY old and sometimes the price is realy cheap. But as you know, the cheap in many cases is much more expensive. Every house has some plot of land. If you buy house with a plot, u have to register a company in Bulgaria.(additional costs) Then you have to restore the house. (additional costs) Don't think that the refurbishment in Bulgaria is cheap! Finaly no one is giving you a guaranteed rental income. So if you plan to live in this house is ok. If you are sure you can find renter is ok. But if you plan to buy, restore and sell. I am not sure at all that the hard work and the money is worthy. Maybe 2-3 years ago yes, but not anymore.

Buying a flat. Most of the developers are selling the flats fully furnished. In fact for about 900 Euro/sq.m. you can receive a flat very close to the beach, with great panoramic view and the most important - GUARANTEED rental program! 5% annual income of your investment is not bad, because the primary contract can be long up to 3 years with an opportunity to extention. Yes, you don't have the "green green grass at home", but you are investing money and this is realy a good investment. Very soon the price will start to grow up with even bigger steps. Joining the EU will accelerate the process. The only thing to concern is to choose very careful the location you want to invest. Big resorts like Sunny Beach for example are not attractive anymore, because of the high overbuilding.

And at last the most profitably investment - LAND.
At this moment there is a boom in buying land in Bulgaria. Investors form England, Ireland, Russia, Cypres, Malta, Poland, Norwegian etc. Are buying land rushing off. The price of the land is criminally low. Nice plots with direct sea view only a couple of kilometeres away from the sea are on price between 4 and 15 euro/sq.m. Practically everywhere are starting developments and the price of the land will go slowliy but surely up.

You can contact me if you wish to be additionaly consulted about the situation in Bulgaria.

Nacid

RHemmings wrote:

Hello. What do Bulgarians think of people from the UK and Ireland buying up large amounts of property in Bulgaria?

Hello. It's a free market. I don't think anyone has bad feeling about someone buying properties and/or land in BG. you have the money, you invest. everyone is trying to make a living after all.

lynzpower

InterE, thanks for that, very interesting.

However I wold say 5% return on investment is pretty bad, given that you can get this from most bog standard bank accounts.

RHemmings

InterE wrote:

And at last the most profitably investment - LAND.
At this moment there is a boom in buying land in Bulgaria. Investors form England, Ireland, Russia, Cypres, Malta, Poland, Norwegian etc. Are buying land rushing off. The price of the land is criminally low. Nice plots with direct sea view only a couple of kilometeres away from the sea are on price between 4 and 15 euro/sq.m. Practically everywhere are starting developments and the price of the land will go slowliy but surely up.

You can contact me if you wish to be additionaly consulted about the situation in Bulgaria.

Are you involved in selling land in Bulgaria? You seem to paint a very rosy picture where prices in Bulgaria can only go up.

A_Fool_&_His_Borrowed_Mon

InterE wrote:

And at last the most profitably investment - LAND.
At this moment there is a boom in buying land in Bulgaria. Investors form England, Ireland, Russia, Cypres, Malta, Poland, Norwegian etc. Are buying land rushing off. The price of the land is criminally low. Nice plots with direct sea view only a couple of kilometeres away from the sea are on price between 4 and 15 euro/sq.m. Practically everywhere are starting developments and the price of the land will go slowliy but surely up.

You can contact me if you wish to be additionaly consulted about the situation in Bulgaria.

Sounds to me like a Bulgarian Property Salesperson's Sales Pitch

:rolleyes:

InterE_2

I am in the business, but I am not advertising here my company. You can ask me free of charge, will be glad to answer your questions. The picture above is describing personaly my opinion about the investment in Bulgaria. I don't wish to engage anyone here with my point of view.

Lynzpower: 5% is pretty bad, but:
You have the opportunity to be in your property 2 weeks in the year (saving hotel charges if you come on vacation) The price of your property will go up once you buy it (VERY important to choose carefuly where are you buying - write me PM if you wish to know what I am meaning). You can use as an example the prices in Spain 10 years ago, before the builder's boom and now. Lot of my clients are buying here following the same logic, knowing very well what profit may bring you buying something on green and in time. But I repeat - it is VERY important to choose the right place.

lynzpower

Lynzpower: 5% is pretty bad, but:
You have the opportunity to be in your property 2 weeks in the year (saving hotel charges if you come on vacation) The price of your property will go up once you buy it (VERY important to choose carefuly where are you buying - write me PM if you wish to know what I am meaning). You can use as an example the prices in Spain 10 years ago, before the builder's boom and now. Lot of my clients are buying here following the same logic, knowing very well what profit may bring you buying something on green and in time. But I repeat - it is VERY important to choose the right place.

No offence meant here, but if you want to go on a 2 week holiday then you can buy them off teletext for 100 quid including flights transfers and sometimes half board, I know I get emails every few days about the bargainness of it all.

Ive never been although I did go to borovets some years ago, and i do remember it being rather grim, but then I was a child then and im sure things have improved.

Cautiounary tale. A mate of mine bought a bungalow in Bulgaria. She spent loads of money on getting all the building materials sent to this property, alas the builders nicked it all and vanished into the abyss. Remember, criminals operate everywhere, jsut as you would expect here, expect elsewhere