Bulgaria Ski discussion board
property in bulgaria
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posts : 13 (Beginner)Date : 01-09-06 14:51property in bulgaria
i am thinking of investing in a property in bulgaria, as a holiday home and also as an investment for the future. i have done a bit of research but would realy appreciate any opinions, contacts or advice as i have not visited bulgaria before and this will be the first time i have bought abroad. i am a keen boarder and wondered what the best resort to buy in might be, thanksre: property in bulgaria
A friend of mine has bought a large family house in Samokov and two apartments in the Borovets resort; he said he rented the apartments for 140 euros a night - and that they hadn't had a single unoccupied night.I reckon Borovets has the most potential but I haven't been to Bansko, only Boro and Pamps, saying that, isn't there a fun park in Bansko?
All I can say is that Bulgaria joins the EU in 2007!
re: property in bulgaria
I would advise anyone wanting to buy in Bulgaria to visit first. A lot of people are buying off plan before going out there and then being shocked by what they find. Do not get carried away by all the hype on estate agents websites with regards to guaranteed rentals and letting potential use your common sense. If you are relying on an income to pay a loan look realistically as what you will get back. Bansko for example is going to be flooded with new build apartments. There is no way ...
I would advise anyone wanting to buy in Bulgaria to visit first. A lot of people are buying off plan before going out there and then being shocked by what they find. Do not get carried away by all the hype on estate agents websites with regards to guaranteed rentals and letting potential use your common sense. If you are relying on an income to pay a loan look realistically as what you will get back. Bansko for example is going to be flooded with new build apartments. There is no way they are going to be all occupied after the ski season othert han by property hunters. We did not see many visitors last August. If you are letting your apartment yourself it is not easy. Look further ahead than just buying a property think how you will manage it. Property management in Bansko is thin on the ground at the moment ask to see management agreements before you buy - you may not like what they are offering. It is not definite that Bulgaria joins the EU in 2007 there is a good chance that it will be delayed - corruption being the main problem. Just remember Bulgaria is not England, their estate agents are not regulated like ours and their legal system is different to ours. It is easy to buy but not so easy to sort out problems when it goes wrong. My post is not intended to put people off buying in Bulgaria just to add caution. It is a very big undertaking and a risky one.
re: property in bulgaria
very sound advice that Jo.re: property in bulgaria
My girlfriend's family has recently bought two large apartments in Pamporovo (off plan - without visiting first!) - one is due for completion in February the other next October.We're off out there on the 21st Jan to see how things are going...
Does anyone know of a letting company who can manage the properties while they are not there? I emailed Property Management BG last week but have not had a reply yet.
re: property in bulgaria
We've just bought a place in Borovets.
We're underno illusions, it's risky, but we've been there twice (going back in four weeks!) and we just love the place.
In our experience (having researched), at present, most companies will only manage properties that they sell. (if anyone can tell me otherwise, please do!)
In Bansko, supply exceeds demand (or certainly will once all the millions of off-plan developments are finished), so properties may be harder to rent, unless they're with a tour ...
We're underno illusions, it's risky, but we've been there twice (going back in four weeks!) and we just love the place.
In our experience (having researched), at present, most companies will only manage properties that they sell. (if anyone can tell me otherwise, please do!)
In Bansko, supply exceeds demand (or certainly will once all the millions of off-plan developments are finished), so properties may be harder to rent, unless they're with a tour ...
We've just bought a place in Borovets.
We're underno illusions, it's risky, but we've been there twice (going back in four weeks!) and we just love the place.
In our experience (having researched), at present, most companies will only manage properties that they sell. (if anyone can tell me otherwise, please do!)
In Bansko, supply exceeds demand (or certainly will once all the millions of off-plan developments are finished), so properties may be harder to rent, unless they're with a tour operator.
Borovets has very few new developments happening, awaiting the start of "Super Borovets", probably in 2007. We feel lucky for what we've managed to find, and scored a deal from the developers when we met them in December.
If you want the details, there still have a few apartments available, at reasonable prices, let me know and i can pass on details.
A lot of prices you see on websites won't include VAT (20%) so be careful. You'll also probably be expected to pay for furniture on top of the price for the apartment.
As mentioned previously on this board, be careful, go in with your eyes wide open. There's no such thing as easy money, but the easier it is, the more risky it will be. And above all else, make sure you visit before you buy.
If we haven't we'd have been trussed up like a turkey!
(we didn't realise that 1st floor in Bulgaria, means "Ground" floor to the UK!)
HTH
Gen
We're underno illusions, it's risky, but we've been there twice (going back in four weeks!) and we just love the place.
In our experience (having researched), at present, most companies will only manage properties that they sell. (if anyone can tell me otherwise, please do!)
In Bansko, supply exceeds demand (or certainly will once all the millions of off-plan developments are finished), so properties may be harder to rent, unless they're with a tour operator.
Borovets has very few new developments happening, awaiting the start of "Super Borovets", probably in 2007. We feel lucky for what we've managed to find, and scored a deal from the developers when we met them in December.
If you want the details, there still have a few apartments available, at reasonable prices, let me know and i can pass on details.
A lot of prices you see on websites won't include VAT (20%) so be careful. You'll also probably be expected to pay for furniture on top of the price for the apartment.
As mentioned previously on this board, be careful, go in with your eyes wide open. There's no such thing as easy money, but the easier it is, the more risky it will be. And above all else, make sure you visit before you buy.
If we haven't we'd have been trussed up like a turkey!
(we didn't realise that 1st floor in Bulgaria, means "Ground" floor to the UK!)
HTH
Gen
