Bulgarian Land

wrightsby

Hi,

I have a plot of land in Bulgaria that I bought as an investment in 2005 and have been trying to sell for the past 3 years.

The land is fenced and has a derelict house on, but apart from that, it is empty. Its 800sqm and is regulated.

Do you have any advice or recommendations of how I can be successful in selling this land?

Its currently being sold at 14,000 euros but I'm willing to lower the price for a quick sale.

Thanks

Fiddlestick

I'll start the bidding at 3 rolos.

blinko

2 cheeseburgers and 1 rolo

G_M

and you bought this after due research because.......

This is a moneysaving site. The moneysaving lesson for others is clear.

As for advice, Wrightsby, use the technique that applies worldwide - reduce the price. As for Bulgarian specific advice, you need a Bulgarian moneysaving property forum.

Annisele

Agree with G_M; you need a site dealing with Bulgaria. If you were asking that question about London I might be able to say something sensible, but I have no clue whatsoever how the Bulgarian housing/land market works.

longwalks1

isnt this where Borat is from? "Is niiiiiiiiiiiiiiiiiiiiiiiiiiiiice!! I liiiiiiiiiiiiiike!"

Baldur

wrightsby wrote: »

I have a plot of land in Bulgaria that I bought as an investment in 2005 and have been trying to sell for the past 3 years.

The land is fenced and has a derelict house on, but apart from that, it is empty. Its 800sqm and is regulated.

Unfortunately, you purchased the land at or near the peak of the 'investment bubble' in Bulgaria - the market has subsequently slumped severely with a massive oversupply of property chasing a limited number of potential buyers. Your only potential purchasers are likely to be Western Europeans, whose interest has waned since 2005, as the price that you paid is likely to have been significantly more than any Bulgarian purchaser would have contemplated.

Its currently being sold at 14,000 euros but I'm willing to lower the price for a quick sale.

Shouldn't that read "Its currently not being sold at 14,000 euros..."?

Reaper

With the Bulgarian GDP shrinking at 6%pa I can't imagine why anybody would want to buy an house they can't live in, even if it was half the price.

I suggest waiting to see if the economy recovers. I'm surprised you tried to sell it after just 2 years without having renovated the house. That's a short period for an investment you haven't added value to. I'm guessing some smooth talking salesman told you it was a can't-lose get-rich-quick opportunity that Bulgarian developers had temporarily over looked.

Loughton_Monkey

Here's the plan.

Take a photo of any large, decent house in the area (if exist).

Renovate the property (On the cheap if you know what I mean. Plastic Sheet where the roof is missing. Couple of buckets for toilets (One in bedroom can be called 'en suite'). Plastic water bottle with pierced holes, hanging on wall = 'Shower'. Scrape as much mould from the kitchen as you can....

Now we're set for "Wrightsby Bulgarian Timeshare Plc." [Strapline 'Never knowingly Oversold']. I would think you could unload at least 20 weeks at 8,000 Euro's a pot.

Plan B. Saga coachtours to "Genuine Bulgarian Ruins".

wombat42_2

try the forum at https://www.mybulgaria.info.