Thinking of purchasing property in Bulgaria

Wexfordguy said:
I estimate in 2-3 years maximum most if not all investors will see a magic beanstalk that will take them(with a certain amount of climbing) to a land of unimaginable riches.
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Is this land of unimaginable riches Dubai, Bulgaria or Cape Verde?
 
ringledman said:
Irish Bob just because your mate invested in a dud fund doesn't mean that all funds are crooks or incompetant. There are many decent funds out there run by decent people who deserve to be well rewarded when their funds perform.


Never let others decide what to do with your own money -

What about -

Dud estate agents?
Dud developers?
Dud tenants?
Dud lawyers?
Dud management companies?
Dud mortgage banks?
etc...
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read my post again , my mate invested with irish life who with all funds in turn handed over control to a fund manager , this manager most likely doesnt even live in this country , the nature of a fund is that you hand over your money to so called experts , my mate didnt choose where his money was going other than he asked to invest in a commodities fund , to do that he would have had to buy direct shares in a food company like nestle , he would have been better off , no need to defend the honour of fund managers , im sure they go to mass each week , say thier prayers at night and help old ladys cross the road whenever the opportunitys presents itself , many of them still have a scatter gun approach to where they stick other peoples money , they get paid hefty commision regardless of whether they put the money in a dud or a star performer , funds with the likes of irish life are seen as being a more resepectable alernative , be it with property , buying off a developer in eastern europe is seens as more high risk than having a fund manager named jurgen invest in some shopping centre in munich , both are equally unreliable and out to liberate you of your money
 
To Angela:

Could you please e-mail me the details of the agent you used to sell your property.

Thanks.
 
I think the most important reason is why you want to invest somewhere. If the OP is looking to relocate to sunnier climates, cheaper cost of living etc then Bulgaria is not such a bad bet, especially now given credit crunch as means it is a buyers market pretty much and prices are now more realistic and not overhyped and over priced as became the usual way until a year or so ago.

If he is simply wanting a holiday home near the sea then he can easily pick up an apartment in one of the many beaches for a good price, given the number of people desperate to sell. Or if he wants to move over there, have a smallholding, grow veggies, have chickens etc then again good time to look to buy there.

But if requiring a mortgage to buy, rental to fund a purchase etc then forget it.
 
rachelg said:
I think the most important reason is why you want to invest somewhere. If the OP is looking to relocate to sunnier climates, cheaper cost of living etc then Bulgaria is not such a bad bet...

........If he is simply wanting a holiday home near the sea then he can easily pick up an apartment in one of the many beaches for a good price, given the number of people desperate to sell.
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I wouldn't go to Bulgaria for the climate. The winters are not nice, and even the summers can have a lot of thunderstorms. It's pleasant enough when it's pleasant, if you know what I mean, but the rest of the time it's a miserable enough kip.
 
I have lived in Bulgaria for over 2 years - have you actually lived there Lollox as you seem to have a strange and inaccurate view on things there.

The winters are cold and crisp - some snow depending on where you are, often blue skies and sun. Sure can be a bit wet and foggy sometimes in November but everywhere has to have some rain sometime.

Summers are hot and of course have thunderstorms, what hot climate doesn't?

If you want miserable stay in the UK. Wet all the time, grey, no definite seasons....
 
Hello, I Have been associated with Bulgaria for 29 years and have invested there myself, so have been helping clients buy there this past no of years. The area you choose really depends if you want to use the apartment for holidays and enjoy it yourself?
 
Go down by the Black sea anytime outside the high season and it is bleak, scruffy and depressingly empty. I never lived there because life is far too short; only somebody who was born there would chose to live in such a dump, and even then a lot of them are fleeing the country and going abroad, anywhere but Bulgaria. Add in the corruption that exists at every level, the overbuilding of poorly constructed holiday homes and the fact that most people see foreigners a a meal ticket .. well, you get the picture.
 
Lollix,

You sound very bitter Lollix Ireland is also very bleak and depressing in the winter and the uk and so on.
 
Timithypaul said:
Lollix,

You sound very bitter Lollix Ireland is also very bleak and depressing in the winter and the uk and so on.
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I'm not at all bitter, in fact I'm very happy that I followed my judgement and kept my money out of Bulgaria. My first impressions of the place were bad, and every subsequent visit just reinforced my view that it was an economic basket case.

This forum is about property investment; i.e. it presupposes that we are discussing property bought with a view to profits or returns. In Bulgaria, in general, this was never possible for Irish and UK buyers. They were paying a multiple of local prices for their properties, further inflated by the guaranteed rental scam. Add an enormous rate of overbuilding and an expectation of short term profits and you have a "perfect storm" that could not possibly be avoided.

In economics, you can not beat the supply/demand curve -- if you over-supply any commodity into the marketplace, the demand goes down. It happened in Ireland, and in Dubai, and Florida and anywhere else that hype took over from judgement.

That's why I avoided Bulgaria, not because I'm bitter!
 
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