Property Investment in Bulgaria

Tassotti

That's so last year darling :rolleyes:

kotka4

to LOST:
The property on the coast of Bulgaria is overpriced! Your season is June, July and August - forget about May - it is still spring and too cold for the beach (September can be nice but not always).
Locals would never rent your flat, because the rent will be way out of their price range. You have to rely on brits mostly, BUT - flights in the summer are 200 GBP +! Some tour operators have last minute deals with flights and accomodation (maybe even HB) for 200, so why would people want the hassle of arranging their flights and going to a flat if they can buy a package?
The general prediction is that with the EU the house prices might drop slightly, as there has been too much supply and they've been overpriced for too long. Offices/commercial property and agricultural land plots will go up with more investors coming.
Forgot to mention that I am Bulgarian and I refuse to buy property there at this stage, because of all I've said above. Of course I might be wrong - please make a careful calculation of your expenditure and income (make the income calc pessimistic!).
I would go with rural property with more land and in need of repairs - even cheaper then. In this case though you need to be aware of other risks related to this type of property

Sisyphus

MickKnipfler wrote:

Did anybody see Amanda Lambs "top 20" last night. Looks like you can easily make 200% profit buying across Europe. It all looked so easy!

Yes, Jonny Foreigner just doesn't have a clue.
Either that or they're just too poor.

Not like us savy Brits. We're the best property experts in the World. We don't even have to know anything about the country and the property doesn't even have to be built yet but we'll still make a killing.

HAHAHAHA

ianian99

You'd need to be proper off your head to buy a property in Bulgaria.

The whole industry is basically controlled by the bulgarian mafia.
The Bulgarians selling their houses really cheap are doing so to avoid capital gains tax (or whatever bulgarian equivilant is) and avoid paying the mafia a huge sum as their cut in the sale. Then you (crazy englishmaqn) think you are getting a proper bargain and the bulgarian seller still gets what they would have got if they had sold at market value but the governmaent gets nothing - THEN a couple of years down the line after bulgaria has joined the EU all the houses will be revalued and all the crazy englishmen are gonna get hit with the tax, that mr not so crazy bulgarian should have paid, when the house is valued at its true price!!!

mr.broderick

Better to buy a run down 3 bed terrace for £100k
It'll be worth 150k in 4 years..aint that right mean machine?:rotfl:

seven-day-weekend

FAR too expensive, you can still get properties in Spain for far less than that.

I've sent for the details of a house in Asturias (Northern Spain) today and it's 37,000 euros. It has an outbuilding and land.

tomstickland

Never heard of Ms Lamb before.

I think I can see a safe rapid growth home for my primary asset.

ManAtHome

She was the scottish widows lady (roll up and pay a fortune in charges to get no better performance than you could manage yourself.. and you wonder why I'm smirking mysteriously at the camera.?). Presumably invested the ill-gotten in buying stuff then "advertising" it..? (probably not - no declaration of interest...).

Anyway, what happened to the Cap Verde "tip" - a couple of years ago it was going to be hotter than Tenerife (shudder), now not even in the top 20 - shurely shum mishtake as they used to say.