Bulgaria Ski discussion board

I'm not sure the economy will take 10 years to recover. House prices do generally double every 10 years so that would be a very bad scenario. Do you not beleive that US stimulus plan will not help revive the global economy? I think that in thee years time we will see a completely different picture. Hopefully if the economy has started an up turn and the building in Bansko is complete we should be seeing a profit then. I guess it all comes down to how much spare cash the brits have in their bank accounts - and with low interest rates, people now saving more than ever and still 95% employment there should be a lot of potential buyers around in the not to distant future (fingers crossed!).

The BRT is a good development, well placed with good facilities, a reasonable investment if you got it for around a 1000E a metre fitted. If you paid more the period for return is going to be a lot longer, possibly 7 or 8 years, and that is based on a quick upturn in the market. Personally i have no involvement in property sales, but we are looking for a good sized apartment (100m + 2 bed) and in looking i can say that prices have fallen considerably, in some cases as much as 60%. New build BG style (no kitchen/fittings etc) are going as cheap as 450E a metre, there are masses to look at, and also re-sales where in some cases the seller is letting go with a huge loss (138,000E going for 63,000E fitted). Unfortunately the market here in the last few years has been driven by greed, fueled by lets say `less than truthful' agents, who impress prospective buyers with the thought of huge profits, unfortunately the bubble burst and coincided with a world slow down and recession. If you have apartments here, use them, let them at reasonable rates (150E a week) and wait, possibly for quite a while, or sell at a loss and walk away. Out of pocket maybe, but older and wiser....

Property may double every ten years but your totally negating inflation..

I have 2 places there one in Lucky Bansko one in the Golf course. One is finished & I have used it many times & enjoy my stay there the other (Golf) is not yet finished - nearly a year late & will be nearly 2 years late by the end.

I bought with the plan of keeping them for at least 10 years.

Brits are not the only buyers, Irish & Denmark.
The problem we have is that in the UK we have the biggest house price crash since 1988 and the credit crunch so basically your not going to have any bu7yer from the UK unless they have it in cash which I doubt as they need a redundancy pot, Next you have the Irish - well their property boom was far bigger than in the UK and now its crashed in a huge manner 40%+ in 1 year.. so again no money/buyers from Ireland as those with cash might be buying in Ireland getting some cheap long term buys + the credit crunch + the Irish Banks are all bust.

Denmark? Dont know.

As I have said in many posts on this topic frankly I dont think it is possible to sell in these market conditions - possibly at any price. Remember you have the issue of huge over supply, global depression, credit crunch, bust banks, people cutting back on holidays & the apt's are far beyond the reach of the locals so your kind of stuck.

Options - dont pay the final instalment just "lose" what you have already paid and put it down to a bad experiance OR go for it in the long term use it for your winter & summer vacations.