Re: bought an apartment in sunny beach bulgaria 5 years ago: cut my losses?
I find it hard to believe that these properties are considered worthless. Bigrog would you at any point in the future consider investing in a ski or beach property in Bulgaria?
Or is it just that prices are to high at present to consider it a good investment?
Do properties in good locations, say close to the ski gondolas or close to the beach not have some potential for future gains?
I don't know the up to date particulars of Bulgarian resorts, but I do have an example for you.
I was in Kicking Horse resort British Columbia, Canada this Winter. see
http://www.kickinghorseresort.com/ Absolutely fabulously amazing skiing, knee deep powder (voted number one powder resort in North America with 6.4 metres of snow so far this year), big mountain, trees, steeps, chutes, glades, beautiful well-finished accomodation literally twenty steps from the gondola, award winning restaurants, cheap, and a million zillion times better than anything in Bulgaria.
Are there empty condo's in the resort and are they having trouble selling them? You bet!
Why? Because it is three hours drive from Calgary, and for occasional use at the moment it is cheaper and easier just to rent someone elses condo than buy and service your own. And I was told this by quite a few Calgarians who go regularly and book last minute. They say they never have a problem with availability. After all, these people are your potential customers/ leasees, which is why I listened to them. Ski seasons are really short, and out of season rentals are apparently thin on the ground. I absolutely loved the place in B.C. and visited the resort realty office, but if the financial numbers don't stack up, don't go and buy there whatever you feel personally.....