Thinking of purchasing property in Bulgaria

W

whatsnew

Guest
Hi I am thinking of purchasing property in bulgaria, can anyone give me advise of where not to go.
What are the rough areas, any help would be great.
Thanks
W
 
Avoid Sofia, avoid the coast, and avoid the ski resorts in the mountains. Also, avoid village property in rural areas.
 
Lollix said:
Avoid Sofia, avoid the coast, and avoid the ski resorts in the mountains. Also, avoid village property in rural areas.
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Avoid capital, coast, mountains and rural areas - what's left??

answer = nowhere?



The OP is a wind-up...very funny :D :D :D
 
Just a poser for you all:

Seeing as I invested 85k in Bulgaria in 2006 and you all had the following options back then which would you be happiest with now:

Investment in 2006:

85k in Irish/UK Stock Market - could sell them now I suppose if I had to and take a big hit.

85k in Irish Property - realistically a property fund - no doubt a big hit here too if I had to sell.

85k in a deposit a/c - who would have thought this would have been the best option

85k in Bulgarian Coastal property. Re-sale valuation I have been given (taken with a pinch of salt 110k) But I'm realistic so say 65k for a quick sale.


So by my reckoning the results are as follows:

1st - the good old deposit a/c

2nd - Bulgarian property

3rd - the Property Fund

4th - the Stock Market

A'int hindsight wonderful !
 
Daddy said:
85k in Bulgarian Coastal property. Re-sale valuation I have been given (taken with a pinch of salt 110k) But I'm realistic so say 65k for a quick sale.
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I hope this works out for you but judging from other people's stories from Bulgaria, you might be wise not to hold your breath...
 
Yes - I'm in no hurry to sell and if anything a lot of developments in Bulgaria are being put on hold or put off altogether which can only be good for the long term.

Of course nowhere is being left unscathed and Bulgaria is in the same boat with the credit crunch and no buyers around.
 
Hi,

Purchased in Bulgaria in 2004 frontline cost E98,000 - including furniture E106,000 - sold recently Take home E111,600 but add 10% on to this for commssion so apartment sold for E124,000. We rented it out but not as much as agent said we would.

Angela59
 
whatsnew said:
Hi I am thinking of purchasing property in bulgaria, can anyone give me advise of where not to go.
What are the rough areas, any help would be great.
Thanks
W
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Sorry to sound patronising but have the events of the last couple of months impinged on your Judgement at all ??
 
ccbkd said:
Sorry to sound patronising but have the events of the last couple of months impinged on your Judgement at all ??
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What do you mean by that, are you saying that property is always a bad buy.
 
angela59 said:
Hi,

Purchased in Bulgaria in 2004 frontline cost E98,000 - including furniture E106,000 - sold recently Take home E111,600 but add 10% on to this for commssion so apartment sold for E124,000. We rented it out but not as much as agent said we would.

Angela59
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Angela - front line Bansko, or front line Sunny Beach (or other)?
 
What is the crime like on the coast?
 
Last edited by a moderator:
Hi Petpal,

Sorry when I say frontline I mean beach - so it was in Nessebar which is about 20 minutes walk from Sunnybeach.

Angela59
 
whatsnew said:
Hi I am thinking of purchasing property in bulgaria, can anyone give me advise of where not to go.
What are the rough areas, any help would be great.
Thanks
W
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Hi WhatsNew and welcome to AAM!

What are your objectives in buying property in Bulgaria?

Are you doing this as an investment in which you expect capital gain and rental income?

Or perhaps you are thinking of purchasing a holiday home which you will visit for a number of weeks per year?

Or maybe you intend to live and work in Bulgaria?

If we had more information it might be possible to answer your questions more fully.

aj
moderator
 
Anyone thinking about buying a property in Bulgaria should read this Reuters article:

Credit crunch bursts Bulgarian property bubble

It is about the credit crunch bursting the property bubble in Bulgaria with western investors fleeing for the exits! You can see here that the Bulgarian economy was, in a similar fashion to Ireland, too dependent upon contruction.
 
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