Bulgaria Ski discussion board
Is there ever going to be a resale market?
Author:
posts : 13 (Beginner)Date : 02-18-09 02:58Is there ever going to be a resale market?
Is bansko a total write off? Im just curious if the hyp will ever return and a resale market will develop (at 2005 prices). Any one have any thoughts?re: Is there ever going to be a resale market?
Doesn't look like itre: Is there ever going to be a resale market?
just hang in there and be patient good times will return!!re: Is there ever going to be a resale market?
Well there is a little thing called a global recesion which does not really help.re: Is there ever going to be a resale market?
I really do not believe that we will see a secondary market for holiday properties in Bulgaria in the next 20 years. Quite apart from the current recession and credit crunch, there is a lot of available land in Bulgaria which the next generation of "developers" will start building on as soon the current problems are over.
You must not forget that there is no such thing as "planning controls" in Bulgaria (or there are but they do not work) so nobody could restrict further, future ...
You must not forget that there is no such thing as "planning controls" in Bulgaria (or there are but they do not work) so nobody could restrict further, future ...
I really do not believe that we will see a secondary market for holiday properties in Bulgaria in the next 20 years. Quite apart from the current recession and credit crunch, there is a lot of available land in Bulgaria which the next generation of "developers" will start building on as soon the current problems are over.
You must not forget that there is no such thing as "planning controls" in Bulgaria (or there are but they do not work) so nobody could restrict further, future developments.
None of the developers who built their blocks of flats in Bansko bought the land the way this would be done in the UK - they simply paid the right person in the local administration the right amount of money, that person allowed them to buy agricultural land for peanuts (or do some shady exchange of land) and then changed the purpose of the land from "agricultural" to "building" which multiplied its value manifold.
They will keep doing that again and again in future so nobody should hope that there would be at any time any shortage of new-build which will obviously make it difficult to sell existing properties.
The market will also depend on the very much needed improvement of the local infrastructure which - with the EU funding for Bulgaria being frozen for the foreseeable future - is unlikely to happen any time soon.
You must not forget that there is no such thing as "planning controls" in Bulgaria (or there are but they do not work) so nobody could restrict further, future developments.
None of the developers who built their blocks of flats in Bansko bought the land the way this would be done in the UK - they simply paid the right person in the local administration the right amount of money, that person allowed them to buy agricultural land for peanuts (or do some shady exchange of land) and then changed the purpose of the land from "agricultural" to "building" which multiplied its value manifold.
They will keep doing that again and again in future so nobody should hope that there would be at any time any shortage of new-build which will obviously make it difficult to sell existing properties.
The market will also depend on the very much needed improvement of the local infrastructure which - with the EU funding for Bulgaria being frozen for the foreseeable future - is unlikely to happen any time soon.
re: Is there ever going to be a resale market?
There already exists a resale market in Bansko, and i can assure all that it reflects prices from almost five years ago...
450 - 550 a metre for apartments that were selling for double or more a year ago. I did not buy through the `good times' having investigated the opportunities and deciding that the price was far to high and growth was unsustainable, also the blatant lies that were being thrown about by agents (olympics, airport etc) made the purchasing of an apartment even more unlikely ...
450 - 550 a metre for apartments that were selling for double or more a year ago. I did not buy through the `good times' having investigated the opportunities and deciding that the price was far to high and growth was unsustainable, also the blatant lies that were being thrown about by agents (olympics, airport etc) made the purchasing of an apartment even more unlikely ...
There already exists a resale market in Bansko, and i can assure all that it reflects prices from almost five years ago...
450 - 550 a metre for apartments that were selling for double or more a year ago. I did not buy through the `good times' having investigated the opportunities and deciding that the price was far to high and growth was unsustainable, also the blatant lies that were being thrown about by agents (olympics, airport etc) made the purchasing of an apartment even more unlikely....
But i would now
450 - 550 a metre for apartments that were selling for double or more a year ago. I did not buy through the `good times' having investigated the opportunities and deciding that the price was far to high and growth was unsustainable, also the blatant lies that were being thrown about by agents (olympics, airport etc) made the purchasing of an apartment even more unlikely....
But i would now
