Property Investment in Bulgaria

LOST

what do you guys think?

all in all investement of £100k into a 2 bed apartment on a resort..


pro's and con's?

PoorDave

Hard to say without more info.

Are you planning to rent it out by the month/week? Are you buying with a mortgage? If so, is it covered by the rent?

Can you handle the hassle of owning property in a foreign country?

Could you get a better return for the money you're investing elsewhere?

Does it make money if you ignore increases in its value, or are you replying on that to make money?

whambamboo

LOST wrote:

what do you guys think?

all in all investement of £100k into a 2 bed apartment on a resort..


pro's and con's?

you could get a house in France for that!

The average Bulgarian *house* costs £5k-£15k.

£100k sounds outlandish to me.

LOST

to be rented out betw may and oct throughout the year - all to be managed by company in bulgaria

no mortgage

relying on income for now then look at capital growth in med term


hoping that eu membership nex year and growth in bulgaria's economy (especially tourism) will make it a sound opportunity...

Guy_Montag

Bulgarian GDP per capita: €2337

so that's over 60 times the average local salary. How long do you think it will take for local incomes to rise to the point that it (at it's current value excluding any "capital growth") one of these appartments will be affordable to a local. Otherwise your only market is to other property investors & why would they want a second hand apartment in Bulgaria when everyone knows the latest hotspot is Ukraine/Georgia/Syria/Libya*

*delete as applicable

whambamboo

LOST wrote:

to be rented out betw may and oct throughout the year - all to be managed by company in bulgaria

no mortgage

relying on income for now then look at capital growth in med term


hoping that eu membership nex year and growth in bulgaria's economy (especially tourism) will make it a sound opportunity...

What's the annual income including voids & management costs?

westernpromise

When you sell it, who are you going to sell it to? Another Brit presumably!

Happy_Bunny_6

We bought a house in Bulgaria last year, in a spectacular setting, granted it is a bit run down and needs a bathroom, but it has about an acre of land and outbuildings and it is liveable, we don't owe any money on it, thought it would be safer to own one out right and rely on value going up
We paid £9,500 for it

advent1122

to be rented out betw may and oct throughout the year - all to be managed by company in bulgaria

Delete between May and Oct and add two weeks in August.
Dont forget to factor in replacement furniture costs when everything gets stolen every month.

MickKnipfler

I was looking about 4 yrs ago. Check it out properly though. I suspect there are a lot of Brits overpaying

lynzpower

There does seem to be regular discussions on bulgaria on here.

Ill make the same point I made before

1. have you been and holidayed in the resort yourself, what are its plus points as you will need to sell these to the potential renters. Ive been to bulgaria myself, it was a good few years ago though, and I thought it was horrible. It may have improved, I really dont know, what is it like?

2. Various reports that rental income from these properties is nothing like what was promised. Bearing in mind theres thousands of these properties up for sale.

3. I get LOADs ( and I mean LOADS) of emails from last minute holiday companies and they always contain bulgarian summer bargains. Ive seen package holidays to bulgaria regularly around the 99 quid mark. How much is a flight to bulgaria, how much would it cost whomever was to rent *your* place? Flights transfers, food? Wil you be able to price your property competitively to achieve rentals? or in ytour case will you have to use the company and thier prices that you are buying into ?

Have a search around there is lots of info on bulgarian buying.