Bulgaria - advice starting out ?

hedgehogpenguin

"1) Morocco is as close as S Spain
2) It has a 12 month season - go for an on golf beach resort, not inland
3) Its attracting a better quality of investro - by miles
4) The Government supervise resorts very closely - planning permissions are rigourous (not like in Bulgaria where its the wild west)
5) Many of the worlds biggest developers are investing here. This is simply not the case in Bulgaria - most of the developmentis by small unknown developers
6) Many developments come with 10 yr build guarantees
7) Resorts include top notch golf courses ON THE BEACH - the same 50 miles away in Spain costs 5 x more
8) Its fashionable - Everyone from Richard Branson, to 240 premiership footballers (inc J Terry, R Ferdinand, The Neville Bros), Jude Law are investing. The Stones and Jimi Hendrix made Morocco chic
9) Resorts include multiple on - site international hotel chains - this gives me confidence. You generally dont see this in sghort season Bulgarian Black sea resorts
10) Huge state of the art marinas are under construction on many resorts"


1) Last time I looked on the map Morocco was definitely further than Spain. I assume the same still holds true.
2) Have you been there at the beach in December/January? You will be blown all the way back to Spain.
3) Not sounding like it is really.
4) Have you seen the state of Marrakesh/any other city in Morocco? I find them enchanting and beautiful but rigorous in the planning department is definitely stretching it a bit.
5) I have no idea.
6) Ditto. But would hazard a guess they're not worth the papyrus they're written on.
7) Golf course on the beach. Sounds like a bunker to me.
8) Jimi died in 1970. Why has it taken 37 years for these fantastic investment opputunities to arise ? However there sounds like a good sunday game of beach football to be had. And chances to kick sand in Branson's face.
9) The chain hotels there are way below normal standards.
10) nothing like HUGE marinas all over your beautiful landscapes huh?

rachell

Hi! I too have been looking seriously into buying in Bulgaria. I would say that before you buy anything in Bulgaria ask lots of questions. We were very interested in the Karolina complex, Sunny Beach. One of the apartments said that it had a pool view. After many questions I found out that it was a view of the hotel pool next door. Also be careful with furnishing packages. They told us at the beginning that it would be at €4000 for this. After wanting a complete list before giving them any deposit money they have said that it will be in excess of €7000, and if we do not purchase this luxury package they will not rent out the property. As you can imagine we are now vey sceptical!

competitionscafe

Thinking longer term......if global warming predictions are correct the summers in Southern Spain, Morocco, etc will become unbearably hot. Might have an effect on ski resorts too (Eg: Bansko).

re Bulgaria: Investing in Bulgaria? Buyer beware!
http://www.sofiaecho.com/article/investing-in-bulgaria-buyer-beware/id_19965/catid_23

Is the East European property bubble set to burst?
http://www.moneyweek.com/file/12343/is-the-east-european-property-bubble-set-to-burst.html

"BEWARE: BULGARIA
Total returns plummet from 104% to 44% as market growth collapses and rental competition hots up

Annual house price growth has slowed considerably, from 36% to just 17.8%, with the Bansko ski region actually showing price falls of -2.1% and Bulgaria as a whole only growing 1.6% in the second quarter. The oversupply of investment properties had led to fierce competition for rentals, which is aggravated by poor management from local agencies.": http://www.in2perspective.com/nr/2006/09/bulgarian-returns-plummet.jsp

RHemmings

pioneer wrote:

From the moment we landed, we were pestered, pestered, pestered there were men/youths ready to accost you round every corner even hiding behind the bushes outside the port and they never let up.

What do you mean by "accost"? Do you mean mug/rob you? Try to sell you stuff? Hit on you?

horace_2

What`s wrong with investing in British West Hartlepool?

h

.

pioneer

Yes, given the chance they probably would have mugged and robbed us; I'm 6'2" and my heart was pumping from the moment I stepped ashore; you just sense it. On leaving the port on foot within 10 seconds a man came up to us and offered his services for fee, I wouldn't of trusted him with my loose change and certainly wasn't going to follow him with my wallet,tickets,camera,passport etc up a dark alley. After being polite and telling him to go for the 50th time, he spewed a few insults and told us we wouldn't get 50 paces without someone else bothering us; he was right; it only took ten and hey presto another one jumped out the bushes and then another and another in fact the whole mile we walked. The mile back was the longest in my life. You already know from the previous post what happened when we got back to the relative safety of the port. Initially you think you can handle it; but they wear you down; down; down. Lambs to the slaughter you don't stand a chance; we aint hungry enough. It will never compare to Spain and if I lived there I wouldn't need a boat; with the motivation to get out I could SWIM it. 50+ people had the same concensus that day, one i'll remember for the rest of my life.

hearts I would rather have ROOT CANAL WORK - ON ALL TEETH. NO NO NO

hearts

pioneer wrote:

Yes, given the chance they probably would have mugged and robbed us; I'm 6'2" and my heart was pumping from the moment I stepped ashore; you just sense it. On leaving the port on foot within 10 seconds a man came up to us and offered his services for fee, I wouldn't of trusted him with my loose change and certainly wasn't going to follow him with my wallet,tickets,camera,passport etc up a dark alley. After being polite and telling him to go for the 50th time, he spewed a few insults and told us we wouldn't get 50 paces without someone else bothering us; he was right; it only took ten and hey presto another one jumped out the bushes and then another and another in fact the whole mile we walked. The mile back was the longest in my life. You already know from the previous post what happened when we got back to the relative safety of the port. Initially you think you can handle it; but they wear you down; down; down. Lambs to the slaughter you don't stand a chance; we aint hungry enough. It will never compare to Spain and if I lived there I wouldn't need a boat; with the motivation to get out I could SWIM it. 50+ people had the same concensus that day, one i'll remember for the rest of my life.

YES YES YES.....But did you like it?

mystic_trev

Another reason to avoid Bugarian Property Investment!

"The WWF has written to the European Commission asking it to step in and order the development to be flattened. Yesterday it warned that the Golden Pearl is not the only complex attracting the interest of foreign investors which could be facing the bulldozers"

http://www.thisismoney.co.uk/mortgages/homesabroad/article.html?in_article_id=418241&in_page_id=505

brasso

pioneer wrote: »

Yes, given the chance they probably would have mugged and robbed us; I'm 6'2" and my heart was pumping from the moment I stepped ashore; you just sense it. On leaving the port on foot within 10 seconds a man came up to us and offered his services for fee, I wouldn't of trusted him with my loose change and certainly wasn't going to follow him with my wallet,tickets,camera,passport etc up a dark alley. After being polite and telling him to go for the 50th time, he spewed a few insults and told us we wouldn't get 50 paces without someone else bothering us; he was right; it only took ten and hey presto another one jumped out the bushes and then another and another in fact the whole mile we walked. The mile back was the longest in my life. You already know from the previous post what happened when we got back to the relative safety of the port. Initially you think you can handle it; but they wear you down; down; down. Lambs to the slaughter you don't stand a chance; we aint hungry enough. It will never compare to Spain and if I lived there I wouldn't need a boat; with the motivation to get out I could SWIM it. 50+ people had the same concensus that day, one i'll remember for the rest of my life.

hearts I would rather have ROOT CANAL WORK - ON ALL TEETH. NO NO NO

Oh please -- is this a wind-up? Absolutely pathetic. I'm embarrassed for you.

This is known as travel. Deal with it or stick to Blackpool.

Searcher2

brasso wrote: »

Oh please -- is this a wind-up? Absolutely pathetic. I'm embarrassed for you.

This is known as travel. Deal with it or stick to Blackpool.

This is true - it is part of the experience of TRAVEL. I don't think I would like to have a house/apartment or anything of any worth there. Integrating in Spain is one thing... in an Arabic country is completely different. Admittedly I haven't tried it but I don't intend to (though I have lived in Spain - and not the Brit expat areas).