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Buying a Property in Bulgaria (PLEASE HELP!)
Greg_Jones_2
Posts: 3 Newbie
Hi Martin
Can you give me any information on help on the following,
Ok, here goes…
Been toying with the idea now for a while about buying a property in Bulgaria but just cannot make my mind up as it is a BIG decision for me. The place I am looking at is in St Vlas (on the Black Sea coast). It is an up and coming resort, meant to be Bulgaria’s answer to Marbella. The particular apartment complex I am thinking about buying into is right on the beachfront and the Bulgarian government have just passed plans to build a 250 yacht marina right in front of this complex.
I am solely buying this property for investment purposes, as opposed to a long-term holiday home.
Property prices are set to rise 120% in Bulgaria over the next 3 years for the following reasons: (so they say)
1 = Bulgaria is set to join the EU in 2007
2 = They are a member of NATO
3 = As of this summer, ALL the major UK holiday companies are offering holidays to Bulgaria (only 3 hours flight time)
4 = The currency is stable and linked to the Euro
I know these factors strongly imply that there is sound investment opportunity, however I want to find out if there are any negative aspects I should be aware of. As I said earlier, this is a big decision for me, as I will have to remortgage my home in the UK in order to raise the funds needed for the apartment in Bulgaria
I have a place on hold till Thursday; I need to have made a decision by then.
Thanks for your time, any information / sites will be greatly appreciated or even your views.
If you are to busy with your site at the minute, Thanks anyway.
If you need any more information just drop me a line
Regards
Greg
Can you give me any information on help on the following,
Ok, here goes…
Been toying with the idea now for a while about buying a property in Bulgaria but just cannot make my mind up as it is a BIG decision for me. The place I am looking at is in St Vlas (on the Black Sea coast). It is an up and coming resort, meant to be Bulgaria’s answer to Marbella. The particular apartment complex I am thinking about buying into is right on the beachfront and the Bulgarian government have just passed plans to build a 250 yacht marina right in front of this complex.
I am solely buying this property for investment purposes, as opposed to a long-term holiday home.
Property prices are set to rise 120% in Bulgaria over the next 3 years for the following reasons: (so they say)
1 = Bulgaria is set to join the EU in 2007
2 = They are a member of NATO
3 = As of this summer, ALL the major UK holiday companies are offering holidays to Bulgaria (only 3 hours flight time)
4 = The currency is stable and linked to the Euro
I know these factors strongly imply that there is sound investment opportunity, however I want to find out if there are any negative aspects I should be aware of. As I said earlier, this is a big decision for me, as I will have to remortgage my home in the UK in order to raise the funds needed for the apartment in Bulgaria
I have a place on hold till Thursday; I need to have made a decision by then.
Thanks for your time, any information / sites will be greatly appreciated or even your views.
If you are to busy with your site at the minute, Thanks anyway.
If you need any more information just drop me a line
Regards
Greg
0
Comments
-
Greg,
I am very much in the samed boat as you and plan to invest in Bulgaria, i like yourself am looking for the right way of doing it i.e. not get ripped off or scammed in the process.
The details of your post seem very interesting, i would be most grateful if you could share some information. As today is Thursday, did you manage to secure your property ?
Any info on legalities or the people you used would be greatly recieved.0 -
Hi
I have decided not to invest in Bulgaria for the time being, its just to risky.
Have a look at for some information
http://www.bulgarianembassy.org.uk/
http://www.barrasfordandbird.co.uk/
http://forum.moneysavingexpert.com/cgi-bin/yabb/YaBB.cgi?board=Savings;action=display;num=1105432944
If you need anymore information just let me know.
Regards
Greg0
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