R
Raresaturn
New Member
Where is the best place to find Bulgarian property?
K
KayJay
Member
Where is the best place to find Bulgarian property? Well, IN Bulgaria is a good place to start - don't be one of those idiots who buy without ever coming here!
It all depends on what you want to buy, if you're crazy enough to consider doing so after reading the horror stories here. It's total folly to buy anything without visiting the country first - preferably several times. Then it's a question of whether you're buying as a permanent place to live, a holiday home or as an investment.
Ebay has plenty of cheap properties but you're likely to get a "bargain" in a village which is polluted/dead/full of tsigani etc - this MIGHT be a good approach if you're buying as an investment for your great-grandchildren. That said, you can get some good deals there but it's a big risk, even though it doesn't cost a lot.
There's plenty of stuff going on imoti.net (they have an English section if you can't speak the language).
It's easy to get taken for a ride here, often due to a lack of understanding of how the system works since it's NOT what most European/US buyers are used to. As I keep saying, many foreign investors don't even bother coming here and basically buy blind - they usually (but not always) get ripped off - and deservedly so. Developers knock up fancy blocks, often with dodgy money, and then sell them to unsuspecting suckers who haven't done their homework. You'll find plenty on this forum to warn you of the pitfalls of Bulgaria: "estate agents" (who don't exist here),developers who go bust and take your money with them, blocks being illegally (but unsuspectingly) occupied by foreigners who can't be bothered to do their homework, buyers assuming that notaries are there to protect them from themselves, sales pitches so far-fetched that anyone in their right mind would just laugh at them....the list is almost endless.
If it's an investment you're after - look elsewhere; Bulgaria probably isn't the place right now. To be 100% frank, I'd much prefer it if ALL "investors" looked elsewhere, since all they've done in the past is drive up prices to ridiculous levels and stop most of the local people being able to afford to even dream of owning a home. Call that investment if you will, but there are MUCH better words to describe it in my book......
It all depends on what you want to buy, if you're crazy enough to consider doing so after reading the horror stories here. It's total folly to buy anything without visiting the country first - preferably several times. Then it's a question of whether you're buying as a permanent place to live, a holiday home or as an investment.
Ebay has plenty of cheap properties but you're likely to get a "bargain" in a village which is polluted/dead/full of tsigani etc - this MIGHT be a good approach if you're buying as an investment for your great-grandchildren. That said, you can get some good deals there but it's a big risk, even though it doesn't cost a lot.
There's plenty of stuff going on imoti.net (they have an English section if you can't speak the language).
It's easy to get taken for a ride here, often due to a lack of understanding of how the system works since it's NOT what most European/US buyers are used to. As I keep saying, many foreign investors don't even bother coming here and basically buy blind - they usually (but not always) get ripped off - and deservedly so. Developers knock up fancy blocks, often with dodgy money, and then sell them to unsuspecting suckers who haven't done their homework. You'll find plenty on this forum to warn you of the pitfalls of Bulgaria: "estate agents" (who don't exist here),developers who go bust and take your money with them, blocks being illegally (but unsuspectingly) occupied by foreigners who can't be bothered to do their homework, buyers assuming that notaries are there to protect them from themselves, sales pitches so far-fetched that anyone in their right mind would just laugh at them....the list is almost endless.
If it's an investment you're after - look elsewhere; Bulgaria probably isn't the place right now. To be 100% frank, I'd much prefer it if ALL "investors" looked elsewhere, since all they've done in the past is drive up prices to ridiculous levels and stop most of the local people being able to afford to even dream of owning a home. Call that investment if you will, but there are MUCH better words to describe it in my book......
S
ssanner
New Member
Hello Raresaturn,
Make sure you do your homework ansd investigate the developper (has he done previous development and delivered on time/on budget). Where do you want to buy? Most people buy in touristic regions: ski resorts, Black Sea, Sofia. Make sure you go and visit first. Bulgaria is not for everybody.
I feel in love with the country and the people there. It is not as cheap as it used to be. This year tourism has grown with more Russians & Isrealis (many cancelled thir Turkish holidays and went to Bulgaria instead),Germans, Greeks, Brits & Irish.
If you want to buy as a holiday apartment great, if it is an investment, I will strongly advise you to consider other options: Brazil, Turkey, etc. You can now buy heavily discounted flats but you won't see a return on your investment for many years to come. My opinion with my apartment is that I will use it as holiday as much as possible for myself, family and friends. Maybe in 10 years time, I might decide to sell it and if I am lucky I will make a small profit.
I agree with Kayjay when he said many investors didn't do their homework and tought it was okay to buy an apartment for £100K or more back in 2007!? Forgetting the fact that they were buying in Bulgaria not the UK or France. OVERPRICED was the key features when I started looking in 2006 and i refused to pay on those levels. I invest in the UK and was paying less for 1 Bed flat in the North of England. I give you an example I saw this morning, Summit Lodge Bansko (which still hasn't started building BTW) is advertising apartment from £48,000 which I think is a joke. Prices are still way above what I suggest fair price should be.
Good luck in your search.
J
JustinBarley
New Member
I totally agree. Give us more info where/what you want to buy.
Bulgaria is a great and beautiful country BUT mostly to make a vacation here.
you wanna live in a big city, small village near a city, near other foreigners, near the sea/mountains ?
A
alyna
New Member
If you are looking to buy property in Bulgaria you have to understand and get to know a few geographical details about the country. This way you can access the values of different Bulgarian properties in the best way and you will not pick the wrong house, condo or investment property. Contrary to popular belief, though it borders three sides of the city of Sofia, Bulgaria’s Sofia District does not include the city itself. The province has a population of almost 300,000. It is bordered by the Balkan Mountains to the north and Rila to the south. Several smaller mountains and valleys can also be found. Lets see where you can find the best deals for Bulgarian properties
P
petemosby
New Member
I sold my property years ago to an English family. The house was in a village near Karnobat. It's pretty common for Englishmen to buy properties in that area. In that same village we already have 5 properties sold to English people. The other common option is to buy apartments in some of the Black Sea resorts such as Sveti Vlast(near to Sunny beach). Of course the inland village properties are not that expensive. If you buy an old house you can tear it down and build a new one and it will still be cheaper than a beach property. I prefer the mountains better than seaside so I recommend it and the fact that a regular village house has a big yard(typical for Bulgaria to grow fruits and vegetables there) makes them a best buy
M
milena
New Member
Bulgarian property
It depends where you would like to buy?
Coastal area or sky resort?
The cheapest one at the moment are in Bansko area
It depends where you would like to buy?
Coastal area or sky resort?
The cheapest one at the moment are in Bansko area
J
JustinBarley
New Member
You will have to excuse me but ... that's so NOT true...
J
JustinBarley
New Member
Anyway i have the strangest feeling this thread is dead...
M
milena
New Member
Why not, if it is regarding the ski resorts, I think that in Bansko are the cheapest ones.
Do you know anywhere cheaper?
J
JustinBarley
New Member
We are talking about the ski resorts only ? I thought the question was about the whole Bulgaria?
M
milena
New Member
Well, about whole Bulgaria, where do you think is the cheapest place, excluding the small villages, and how much is per sq m?
J
JustinBarley
New Member
A lot of the suburbs are really cheap.
For example some parts of Pleven, Varna...
we`re talking like ...500-600euro/sq m (in varna)
and i don`t know about pleven but a friend got his apartment (same as mine 38.500 Euro in the center of Varna) for the price of 20 or 22 000 i don`t remmember
M
milena
New Member
Yepp, I agree but in Bansko you can find apartment for 450 Euro sometimes even less.
Veronica
Administrator
Ask yourself why it is so cheap there. Is it perhaps because no one wants to buy there because it is a bad investment?:biggrin:
M
milena
New Member
It is because, there are too many apartments for sale and a lot of British selling their properties at the moment, first because they were misled by a lot of real estate companies and investors that they will return the investment in no time, which is not true and second the crisis hits the holiday homes first. However, the Russians use the moment and buy.
