Does anyone have information about buying property in Bulgaria? Estate agents, lawyers, the process of buying? Can you advise me where in Bulgaria is the best place to buy?

quote:

Originally posted by bubub:
Does anyone have information about buying property in Bulgaria? Estate agents, lawyers, the process of buying? Can you advise me where in Bulgaria is the best place to buy?

Bub, please dont take this the wrong way, I just dont like seeing people lose money.

Ive been investing in property a long time and I love new foreign markets but Bulgaria is a no no.
I did my research over 4 years ago and am glad I didnt invest.

There are so many issues I dont know where to start.

Here's 1; Who will you sell too in order to chrystalise your profit? There is no viable second hand market

Here's another; Have you seen the build quality, have you seen the gangs of Gypsy Women building these places where they accidentaly fit the insulation on the OUTSIDE?

I dont want to offend anyone, but some of us in the property game a while view Bulgaria as the one for the muppetts.

YIELD - You will get at best 3 months rent.

CORRUPTION - is a way of life. Imagine you call your accountant (you have to have one to own a B2L in Bulgaria) and he says he needs £500 for something unforseen, say a new local rule - how the heck will you know whether the fee is genuine?
The state wont help - its corrupt from top to toe.

DEFINITION OF A GOOD INVESTMENT = "It must provide safety of your capital and generate a decent above inflation yield"

Not Bulgaira.

quote:

Originally posted by bubub:
Does anyone have information about buying property in Bulgaria? Estate agents, lawyers, the process of buying? Can you advise me where in Bulgaria is the best place to buy?

No place in Bulgaria is good to buy. You are 3 years too late.

Hi there,
I would say it depends on your budget and if it is for personal use. We purchased nearly 2 years ago in Bgand are really happy with the villa we have. Originally it was for investment but we love where we are now.Rental was great last summer and I have to say it was a learning curve. WE are 3kms back from Sunny Beach- have a look at www.holidaylettings.co.uk/8628 .If it is for investment I would say the market in that area is saturated.PM me if you want any more infoas I researched the area thoroughly before we bought. and there is still good capital growth in the villa market if you get it right. There are 12 UK owners on our complex and we could have sold peak season 10 times over between us.

Why do you charge £350/week for NOvember-March?
Is it for the thrill of staying at -20 Celsius
or for being alone in all the area?

Its fairly busy in our area at the moment. Our shop has continued to stay open since the last tourists left early October. There are still quite a few people going on trips to BG in the winter and we had a fireplace put in for the winter rentals of which there have been a few. There are also a lot of foreign developers/Sales Managers -Italians mainly who look for a bit more space rather than a room in the Novotel in Sunny Beach .There has never been a query over the rates we charge.

quote:

Originally posted by feebib:
more space rather than a room in the Novotel in Sunny Beach .There has never been a query over the rates we charge.

Is this why you only rent 1 week in the next 7 months? This is about 2 weeks/year in average...

Forget Bulgaria!!!!
Look at Morocco, Cape Verde, Montenegro and even Argentina,Buenos Ares (Recolotta) but in all honesty i would look at something close to hand i.e max 5hrs fly time from the UK and actual key selling points, you need to have facilities that will create a second hand market and create a desirability factor for all wanting to rent. Stick with good constuctors and be very careful before you hand any money over. There are many people on this site who can help and the advice is for free!!! Which in my book is always a good thing Good luck.

27,000 new properties being built how can you get rent with so much competition and who will buy the property from you if you increase the price to make a profit. True investors steer clear of this white elephant.
Buy where there is an internal market, growing visitors and an increasing population.

I was thinking of a holiday home, to escape somewhere from the big city and the noise, to have some rest in the summer...

hi bubub
have a look at this site with properties www.allbulgarianproperties.com

Guys,
I agree with you about corruption, gypsies and things of the kind but after all have in mind 2 things:
1. Recent EU entry
2. Prices going down

Haven't made a comparison but in my opinion real estate prices in BG are the lowest possible in EU. I think it's worth to think again about investing in Bulgaria