Bulgaria Ski discussion board

I put a deposit down on a development call Crystal Apartments in Bansko over a year ago. After a long delay it is finaly complete and they are asking for the final 80% payment. But over the last year i have heard alot of bad stories about investing in Bulgaria and the current exchange rate also means i have now got to pay alot more than when i signed up. Can anyone give me advise on wether you think it is still a good time to invest. The cost of my studio will cost around 60,000 euro.
Thanks
Tom

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Seriously, it all depends on your situation - you say 'invest' which suggests that you will need to rent it to cover the mortgage. With exchange rates, collapse of the economy generally and Bansko specifically and the availability of lots of resale places for a fraction of their initial cost I would suggest that you either walk away completely or offer the developer 20K euro as a final and complete payment. If it has actually been completed and not just half arsed to act 15 by a builder with no money.

i doubt very much that the developer will take an offer of a reduced price. I guess you signed a preliminary contact stating your stage payments at the outset. You can walk away but will loose the deposit. I think if you are struggling with the final payment and have borrowed to get this and need rental to help you pay your mortgage back then you may struggle. If you have the money and can afford to leave it empty (ish) with just a few bookings per year and are willing to sit on it for 5-8 years then you should be OK. Property as dropped all over and bansko is satuarated with new builds but it will settle down and we will have a great ski resort.