I am writing as the editor of Bulgaria's English language newspaper (www.thefrontiertimes.com), I personally was forced out of the UK property market a few years ago and have now lived in Spain, Poland and Bulgaria. Bulgaria in my opinion is the best option for property investment by far, it has a nice climate, friendly people and properties are still reasonably priced. There is a growing problem here though that local people are now being priced out of the market by foreigners. If you want to get an idea of the prices sign up to the 'property portal' on our web-site.
We would love to hear from anyone who has had good or bad experiences with property or anything else in Bulgaria.
Full Version: Bulgaria, The Cheapest Around?
QUOTE(henry @ Feb 13 2007, 08:36 AM) [snapback]551756[/snapback]
I am writing as the editor of Bulgaria's English language newspaper (www.thefrontiertimes.com), I personally was forced out of the UK property market a few years ago and have now lived in Spain, Poland and Bulgaria. Bulgaria in my opinion is the best option for property investment by far, it has a nice climate, friendly people and properties are still reasonably priced. There is a growing problem here though that local people are now being priced out of the market by foreigners. If you want to get an idea of the prices sign up to the 'property portal' on our web-site.
We would love to hear from anyone who has had good or bad experiences with property or anything else in Bulgaria.
We would love to hear from anyone who has had good or bad experiences with property or anything else in Bulgaria.
- Cheapest around?
- Best Option for Property Investment?
- NIce Climate?
I guess you think that is is 2002 again, isn't it? People have smoked BUlgaria already, everybody and their brothers know the real situation.
When has being cheapest ever meant good value?
Bulgaria is a poor place to invest. No resale market, no locals market, little sun (black sea coast), little snow and rental (ski resorts), poor infrastructure.
Far beeter off investing in proper CEE markets such as Poland, Czech Rep, Romania that have a real economy not relaint on a short season holiday market.
Bulgaria is a poor place to invest. No resale market, no locals market, little sun (black sea coast), little snow and rental (ski resorts), poor infrastructure.
Far beeter off investing in proper CEE markets such as Poland, Czech Rep, Romania that have a real economy not relaint on a short season holiday market.
QUOTE(ringledman @ Feb 13 2007, 12:04 PM) [snapback]552023[/snapback]
When has being cheapest ever meant good value?
Bulgaria is a poor place to invest. No resale market, no locals market, little sun (black sea coast), little snow and rental (ski resorts), poor infrastructure.
Far beeter off investing in proper CEE markets such as Poland, Czech Rep, Romania that have a real economy not relaint on a short season holiday market.
Bulgaria is a poor place to invest. No resale market, no locals market, little sun (black sea coast), little snow and rental (ski resorts), poor infrastructure.
Far beeter off investing in proper CEE markets such as Poland, Czech Rep, Romania that have a real economy not relaint on a short season holiday market.
I agree cheapest may sometimes not be best, but in Bulgaria's case it is.
How can you call a price rise in property of over 250% in 5 years a bad place to invest, government figures show a 12% increase for last year and they expect up to 30% this year because of EU entry. The re-sale market is not poor at all and the rich bulgarians, although few, buy a huge number of properties - there is certainly a locals market. It has been between 15 and 20 centigrade all winter and temps reach 35 in the summer all over the country. Last year more sun than anywhere else in Europe. The snow resorts have recently been booming, with many westeners discovering some of the best skiing in Europe in Bulgaria. I would also argue that infastructure here is better than in the UK, except for the roads, which are being invested in heavily at the moment.
Bulgaria is a year round holiday destination and officially has the most beautiful women in Europe.
I would argue that places like Poland, Czech Republic and Romania have been left behind by a booming Bulgaria.
henry,
How can you say that Bulgaria had 'more sun than anywhere in Europe' ?.
Tell that to Cyprus.
As for skiing, all low level/interemediate level resorts will continue to suffer lack of snow with the increase in climate change.
Whatever properties rich Bulgarians are buying there is no demonstrable resale market for new build apartments on the coast or in the ski resorts.
Property up 250% in 5 years = bubble.
I do agree with you about the women, though !.
How can you say that Bulgaria had 'more sun than anywhere in Europe' ?.
Tell that to Cyprus.
As for skiing, all low level/interemediate level resorts will continue to suffer lack of snow with the increase in climate change.
Whatever properties rich Bulgarians are buying there is no demonstrable resale market for new build apartments on the coast or in the ski resorts.
Property up 250% in 5 years = bubble.
I do agree with you about the women, though !.
QUOTE(henry @ Feb 13 2007, 02:14 PM) [snapback]552257[/snapback]
Last year more sun than anywhere else in Europe. The snow resorts have recently been booming, with many westeners discovering some of the best skiing in Europe in Bulgaria. I would also argue that infastructure here is better than in the UK, except for the roads, which are being invested in heavily at the moment.
Bulgaria is a year round holiday destination and officially has the most beautiful women in Europe.
Bulgaria is a year round holiday destination and officially has the most beautiful women in Europe.
Too many lies in one message...
- more sun than anywhere else in Europe... What about Cyprus and Costa del Sol?
- best skiing in Europe. You had about 1 week of skiing till today this season. Besides, the slopes are ridicoulously small and unattractive as compared to France and Swizerland.
- most beautiful women in Europe. Romania, Serbia, Hungary, Croatia and Slovenia have the same claims....
QUOTE
I agree cheapest may sometimes not be best, but in Bulgaria's case it is.
How can you call a price rise in property of over 250% in 5 years a bad place to invest, government figures show a 12% increase for last year and they expect up to 30% this year because of EU entry. The re-sale market is not poor at all and the rich bulgarians, although few, buy a huge number of properties - there is certainly a locals market. It has been between 15 and 20 centigrade all winter and temps reach 35 in the summer all over the country. Last year more sun than anywhere else in Europe. The snow resorts have recently been booming, with many westeners discovering some of the best skiing in Europe in Bulgaria. I would also argue that infastructure here is better than in the UK, except for the roads, which are being invested in heavily at the moment.
Bulgaria is a year round holiday destination and officially has the most beautiful women in Europe.
I would argue that places like Poland, Czech Republic and Romania have been left behind by a booming Bulgaria.
Lets look at some proper sources- How can you call a price rise in property of over 250% in 5 years a bad place to invest, government figures show a 12% increase for last year and they expect up to 30% this year because of EU entry. The re-sale market is not poor at all and the rich bulgarians, although few, buy a huge number of properties - there is certainly a locals market. It has been between 15 and 20 centigrade all winter and temps reach 35 in the summer all over the country. Last year more sun than anywhere else in Europe. The snow resorts have recently been booming, with many westeners discovering some of the best skiing in Europe in Bulgaria. I would also argue that infastructure here is better than in the UK, except for the roads, which are being invested in heavily at the moment.
Bulgaria is a year round holiday destination and officially has the most beautiful women in Europe.
I would argue that places like Poland, Czech Republic and Romania have been left behind by a booming Bulgaria.
Reuters - http://www.challenges.fr/french_news/art_63070.html
LONDON (Reuters) - Overseas property investors should be wary of Bulgaria as market growth collapses and rental competition hots up, but prospects still look good in France and Poland, according to a report this week.
Total annual returns on Bulgarian property have plummeted to 44 percent from 104 percent three months ago, according to the latest quarterly investment tracker from property investment firm Assetz.
Annual house price growth in the country has slowed to 17.8 percent from 36 percent, with the Bansko ski region showing price falls of 2.1 percent.
Property prices in Bulgaria as a whole only grew 1.6 percent in the second quarter, while the oversupply of investment properties has led to fierce competition for rentals.
RICS - http://www.fly-2let.co.uk/news283.htm
QUOTE
Added 09/02/07
Poland is the star of buoyant market
Poland was the ‘star performer’ in a European housing market that continued to defy gravity last year as prices forged further upwards, the Royal Institution of Chartered Surveyors has reported.
The price rises were despite interest rate rises and increased supply ‘in several buoyant housing markets’, according to the latest RICS European Housing Review. In fact consumers seem not to have baulked at the onset of interest rate rises and have continued to borrow at record levels.
One reason may well be that while the European central bank increased interest rates by 1.5 per cent in the 2005-2006 period, lenders failed to pass on the bulk of the rise – which may also explain why Europe did not follow the US into a house-building drought.
Fears of considerable house price adjustment in the ‘overheated UK, Spanish and Irish markets proved to be quite off the mark’, said RICS chief economist Milan Khatri. ‘Rising income and employment levels have cushioned these and other markets across Europe from rising interest rates, and the prospects for 2007 remain good as many economies have entered the year on a firm note’.
Whilst most of the 26 markets surveyed by RICS with the help of Savills did not perform at 2005 levels, many still rewarded savvy investors with double digit growth, said RICS.
Poland experienced the highest rate of house price increase, bettering 30 per cent. Poland, Norway, Greece, Ireland,, the UK, Switzerland (marginally), Lithuania, Hungary, and the Czech Republic experienced higher house price rises this year than last. In Estonia the 50 per cent plus rate plummeted to below 20 per cent.
Poland is the star of buoyant market
Poland was the ‘star performer’ in a European housing market that continued to defy gravity last year as prices forged further upwards, the Royal Institution of Chartered Surveyors has reported.
The price rises were despite interest rate rises and increased supply ‘in several buoyant housing markets’, according to the latest RICS European Housing Review. In fact consumers seem not to have baulked at the onset of interest rate rises and have continued to borrow at record levels.
One reason may well be that while the European central bank increased interest rates by 1.5 per cent in the 2005-2006 period, lenders failed to pass on the bulk of the rise – which may also explain why Europe did not follow the US into a house-building drought.
Fears of considerable house price adjustment in the ‘overheated UK, Spanish and Irish markets proved to be quite off the mark’, said RICS chief economist Milan Khatri. ‘Rising income and employment levels have cushioned these and other markets across Europe from rising interest rates, and the prospects for 2007 remain good as many economies have entered the year on a firm note’.
Whilst most of the 26 markets surveyed by RICS with the help of Savills did not perform at 2005 levels, many still rewarded savvy investors with double digit growth, said RICS.
Poland experienced the highest rate of house price increase, bettering 30 per cent. Poland, Norway, Greece, Ireland,, the UK, Switzerland (marginally), Lithuania, Hungary, and the Czech Republic experienced higher house price rises this year than last. In Estonia the 50 per cent plus rate plummeted to below 20 per cent.
Yeah Poland is really getting left behind!
As for the Women well you obviously havent ever been to Budapest.
If this is turning into a 'beautiful women' debate...
What’s wrong with the UK??
By the way, I’m not sure this is politically correct!!
What’s wrong with the UK??
By the way, I’m not sure this is politically correct!!
QUOTE(Spongebob @ Feb 14 2007, 03:07 PM) [snapback]553394[/snapback]
If this is turning into a 'beautiful women' debate...
What’s wrong with the UK??
By the way, I’m not sure this is politically correct!!
What’s wrong with the UK??
By the way, I’m not sure this is politically correct!!
Bob, Bob, Bob!! You need to get out!! Beautiful girls in the UK? There´s good and bad everywhere, but the Spanish señoritas outclass the English roses any day.
QUOTE(AndyK2 @ Feb 14 2007, 03:15 PM) [snapback]553473[/snapback]
Bob, Bob, Bob!! You need to get out!! Beautiful girls in the UK? There´s good and bad everywhere, but the Spanish señoritas outclass the English roses any day.
Dont get me wrong, Andy. Id love to have an opinion but Im worried my Mrs may hack into my computer, figure out my profile name, work out my password and read my comments. Then, my friend. Im a dead man!!
shame on you guys discussing beautiful overseas woman on valentines day of all days...........what about those stunning portuguese burdz??????????
QUOTE(henry @ Feb 13 2007, 02:14 PM) [snapback]552257[/snapback]
I agree cheapest may sometimes not be best, but in Bulgaria's case it is.
How can you call a price rise in property of over 250% in 5 years a bad place to invest, government figures show a 12% increase for last year and they expect up to 30% this year because of EU entry. The re-sale market is not poor at all and the rich bulgarians, although few, buy a huge number of properties - there is certainly a locals market. It has been between 15 and 20 centigrade all winter and temps reach 35 in the summer all over the country. Last year more sun than anywhere else in Europe. The snow resorts have recently been booming, with many westeners discovering some of the best skiing in Europe in Bulgaria. I would also argue that infastructure here is better than in the UK, except for the roads, which are being invested in heavily at the moment.
Bulgaria is a year round holiday destination and officially has the most beautiful women in Europe.
I would argue that places like Poland, Czech Republic and Romania have been left behind by a booming Bulgaria.
How can you call a price rise in property of over 250% in 5 years a bad place to invest, government figures show a 12% increase for last year and they expect up to 30% this year because of EU entry. The re-sale market is not poor at all and the rich bulgarians, although few, buy a huge number of properties - there is certainly a locals market. It has been between 15 and 20 centigrade all winter and temps reach 35 in the summer all over the country. Last year more sun than anywhere else in Europe. The snow resorts have recently been booming, with many westeners discovering some of the best skiing in Europe in Bulgaria. I would also argue that infastructure here is better than in the UK, except for the roads, which are being invested in heavily at the moment.
Bulgaria is a year round holiday destination and officially has the most beautiful women in Europe.
I would argue that places like Poland, Czech Republic and Romania have been left behind by a booming Bulgaria.
So if the resale market is not poor how do you explain the following post on another website:
"Not to depress you, but I have been trying to sell our 2 bed apartment in Privilege Fort Beach, Elenite for quite a while now (which is a FortNoks complex - is this where yours is?).
I am in the rare luxury of having full purchase price on the original notary (I can tell you now that nobody will even look at buying the apartment if you are trying to get them to agree to putting a lower price on the new notary). Due to our circumstances we have been trying to sell it at less than what we paid for it off-plan 3 years ago but to no avail. Our apartment comes fully furnished and the next 18 months maintenance fees are included in the price....
all this & still no joy.
FortNoks will only consider resale under very rare circumstances.... I know because they have agreed to try and sell ours.... even if you could get them to agree I have strong doubts as to its merits - they have advertised ours at 153,000 Euros which although equivalant to others available on the complex is totally un-realistic. They will not advertise it at our asking price of 99,000 Euros (or even lower!). "
Can't even sell for less then they paid 3 years ago for christsakes!
There are lies, there are damn lies and then there is ....the Bulgarian property market!
http://www.mybulgaria.info/modules.php?nam...pic&t=18164
Hello everyone,
With all my regards to all property investors here there is something I don't quite understand reading your posts. How someone in their right mind would be looking for a release market in an emerging market? It is not a brainer to figure out that when prices are as cheap as Bulgarian prices (they still remain the lowest in EU) and the market is still developing it doesn’t make sense to resell. You will only lose if you resell. As far as I know a solid property investment is a long term investment when you leave a property to appreciate so you can get the higher profit between the buy and sell price. The successful investor is the patient investor!
The rental market in Bulgaria is improving dramatically! I personally have couple of investment properties there in prime locations and they are performing very well! The Bulgarian government set up a goal to increase the number of tourists in 2007 to 8 million which is double the number for 2006 of 4 million , there is a new attractive mortgage product for foreign investors and more are coming on the way. Bulgarian economy is improving very fast and it will go from now only better, Bulgaria is full with opportunities. EU millions are pouring into the country in infrastructural projects, Western businesses are settling down in Bulgaria, of course with corporate tax of 15 % no wonder why! Countries like Morocco and Egypt that I see here as “next hot spots “are not even in the same page for economical development, political stability and future progress.
Talking about areas well of course greed and speculation occurs in some areas like Bansko and Sunny Beach but there are many other areas that still remain attractive property destinations. Bulgaria is a great four season destination, has proper spring, autumn, winter, and summer and the summer is not as hot as Spain or Cyprus which makes it more enjoyable. Yes the summer season is shorter but with the new golf courses around the northern seaside area the rental season is extended to 9 full months. Ski resorts are developing into whole year round destinations; there are infrastructural projects that are aiming to transform the resorts into preferred tourism destination on the Balkans. I have seen Borovets ski resorts being full with Locals in the summer as Sofia is only 1 hour away! There are so many undiscovered areas in Bulgaria!
Talking about prices yes I agree in some areas they are speculatively too high avoiding those areas and keeping in mind that any price is negotiable would provide you a good prices emerging market property and a long term perspective in one developing country!
And yes, talking about girls not because I'm one of them but Bulgarian girls please the eye quite well. Praise the beauty
With all my regards to all property investors here there is something I don't quite understand reading your posts. How someone in their right mind would be looking for a release market in an emerging market? It is not a brainer to figure out that when prices are as cheap as Bulgarian prices (they still remain the lowest in EU) and the market is still developing it doesn’t make sense to resell. You will only lose if you resell. As far as I know a solid property investment is a long term investment when you leave a property to appreciate so you can get the higher profit between the buy and sell price. The successful investor is the patient investor!
The rental market in Bulgaria is improving dramatically! I personally have couple of investment properties there in prime locations and they are performing very well! The Bulgarian government set up a goal to increase the number of tourists in 2007 to 8 million which is double the number for 2006 of 4 million , there is a new attractive mortgage product for foreign investors and more are coming on the way. Bulgarian economy is improving very fast and it will go from now only better, Bulgaria is full with opportunities. EU millions are pouring into the country in infrastructural projects, Western businesses are settling down in Bulgaria, of course with corporate tax of 15 % no wonder why! Countries like Morocco and Egypt that I see here as “next hot spots “are not even in the same page for economical development, political stability and future progress.
Talking about areas well of course greed and speculation occurs in some areas like Bansko and Sunny Beach but there are many other areas that still remain attractive property destinations. Bulgaria is a great four season destination, has proper spring, autumn, winter, and summer and the summer is not as hot as Spain or Cyprus which makes it more enjoyable. Yes the summer season is shorter but with the new golf courses around the northern seaside area the rental season is extended to 9 full months. Ski resorts are developing into whole year round destinations; there are infrastructural projects that are aiming to transform the resorts into preferred tourism destination on the Balkans. I have seen Borovets ski resorts being full with Locals in the summer as Sofia is only 1 hour away! There are so many undiscovered areas in Bulgaria!
Talking about prices yes I agree in some areas they are speculatively too high avoiding those areas and keeping in mind that any price is negotiable would provide you a good prices emerging market property and a long term perspective in one developing country!
And yes, talking about girls not because I'm one of them but Bulgarian girls please the eye quite well. Praise the beauty
Bulgaria has so far shown me that it is a welcoming and cheap place to invest in property and to live, far better than the UK in my opinion. I am obviously biased in someway, as i am working and living here (www.thefrontiertimes.com), but heh who isn't.
QUOTE(galinasash @ Feb 19 2007, 10:54 AM) [snapback]557166[/snapback]
in the summer as Sofia is only 1 hour away! There are so many undiscovered areas in Bulgaria!
And so are so many undicovered area in the worls! Do you realize that places like Turks and Caicos, Bahamas, Brazil or Panama are only now developing into real monster touristic destinations? Or that in Europe there are many other countries like Romania and Slovenia, who are much better looking than BUlgaria?
Bulgaria has already lived its 15 minutes of glory.
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