Bulgaria Ski discussion board

The worry I have for people & myself included is what happens if the prices fall? That would be dire news for all investors and its also likely in the short term with the credit crunch.

Remember if the price of ave UK houses fall then the relative difference between the UK & Bulgaria decreases so therefore less demand from one market which as per basic economics lower demand = lower prices especially when there seems to be not that much restriction on supply.

Im in it for the long run unless our circumstances change where I may be forced to sell at a loss or put it into a UK auction and see if there is any bids.

Another path could be to try and find a partner to buy half of the investment from you, thus reducing the financial exposure.

A concern of mine, over the long term, is that Bansko could end up a town littered with derelict bankrupt building sites. The cause of this could happen in the next year or so, but once the rot sets in, the hangover could last more than 10 years. This would of course put a cap on further development, but would also adversly affect the attraction of the resort to tourists reducing repeat visits, and therefore the value of investment.

Also if appartment blocks have an amount of reposessed appartments, then the management charge of the block will be higher per owner.

Clearly I hope I am wrong as I am an investor in the town.

But you are looking at the uk market slowing down, there are countries like Russia buying. I think you think only the british and irish are buying. Yes there is a slowdown but they can only build so much in Bansko, they are now building in Razlog, and probably beyond Razlog in the future, but my personal thoughts are long term, the bulgarian goverment not only want people to buy apartments, they also want a strong tourist trade so belive me they will spend on the area.
Just a thought am thinking of driving to Bansko, and Sofia to furnish my apartments if at least another two people thinking the same we can split three ways and lets take our own furniture to bulgaria, because those packages are to expensive.

I bought in Spain 6 years ago, the market has slowed down and the builders are including a lot more in their sales to attract buyers. They have also put some developement on hold until things start to move again. As for things happening with investment be prepared to wait a long time, in my experience most things that are said to be happening will happenen but it could take a further 15 year. We bought to retire there and dont rely on any income, there are loads of apparments for sale but many people have now started long term renting, as sales are slow.

Furniture packages everywhere are a rip off, we bought ourself from different shops. Kellie dont think you can get every thing in two weeks it wont happen, we had been looking for a good few months on trips out and enquired about delivery, some items were 10 weeks, but most would store them and arrange delivery over the phone from the UK for the next time we were out.

As for management, becareful I know people in Spain who have been told by their management agents that their place isnt renting out. In reality they had rented it out and were pocketing all the money. Also we rented a place in Bansko 3 years ago we paid half before we went and were told the other half would be collected, after trailing around and a few phone calls our depature date came, still noone had took the money, on return to the uk I sent an email to company and called about the rest of the payment, they never took it, the only thing I can think is the management company got their half but the poor sod who owned the appartment didnt get theirs.

Good luck but hold onto it for a long time it will start to look better and the things that were promised by the sellers will slowly start happening. Just dont expect it to be anytime soon.

Hi Sam we sold in Spain two years ago, after buying our two bed apartment 10 years previous. We bought in Torrevieja, in Alicante region probably were you bought. I sold at the right time for a very good profit, and yes in one way the spanish have started to learn the lesson, 3 years ago they didn't have to work hard to sell there properties now they have to work very hard, the weak pound isn't helping to.

But i was lucky to sell two years ago, since then the same property as dropped in value by 30%, am going to give it another year and i will be back to invest again, because i do love the country even learned the language.

Mi gusta mucho espana, hasta luego

Steve

sounds like you bought at the right time as well, had already gone up by quiet a lot when we bought in comparison to a couple of years earlier. yes we are in that area and we love it, they have started to get the 332 ready for dualing although if they cut the tolls on the motorway they wouldn't need to be thats the spainish for you. The area where we are was a building site but looking good now and all the things that we were told about when we bought are slowly coming to fruition.

if you ever fancy swoping a week in the sun for a week in the snow give us a shout,

steve
thankyou for your comment. i had bad pmt last week!!! i said a few things that maybe i shouldnt have!! things dont ever go to plan, but i sad that bansko was poo and so where the people....IM SORRY. out of order ,was having a realy or should say have been having a hard time recentley .thats it,if and bulgarins are there sorry to offended you,i had been to and still go to bulgaria,i didnt just buy it as an investment(but i dont want to lose either) i have a house(cheap) near stara zagora which ive been renovating so i do know how much workers cost and furniture etc......thats it for now.chow chow

Sam that sounds good, our apartment in Bansko is ready end of this May, so yes keep in touch it would be nice to exchange. Where abouts in Spain Sam, it sounds like you are in el galan, or villa martain, we used to have a apartment in Los Balcones, near the new hospital.

Kelie you never offended me, dont worry, we are all in the same boat in Bansko, and we all have our own opinon and my thoughts are we need to keep hold of these properties because when all the building as stopped then the properties will rise you see. Pmt brings out the best in a woman i like a woman whos not frightened to express there feelings mmmm!