Is anyone buying property in Bulgaria?

[mrrossi]

Hi all

Just wondered if anyone was still buying property in Bulgaria at the moment - now the prices have dropped I imagine it's a good time to invest, but nobody seems to have any money to do so! :-(

We have a few properties over there (my wife is Bulgarian, from Rousse) and we hadn't originally intended to sell, but what with the current climate and lack of money we have been trying to sell - but have had no interest whatsoever!

About 2 years ago we bought a beautiful traditional house in my wife's Grandma's village of Kacelovo - we simply fell in love with it when we saw it. It's one of those rare houses which has a bottom half made of stone, the top half is white (made of kirpich) and there's an abundance of wood everywhere, with a huge wooden balcony. We got some builders involved and installed a modern kitchen and bathroom etc but tried to keep the traditional look everywhere.

We figured it would be great to use as a holiday home for ourselves but we then had a baby and travelling is no longer convenient. We thought we'd rent it out to tourists but being in the village my wife's Grandma would end up looking after it all (even if we went through a specialist company as they'd just contact village locals and she would only trust certain people and end up doing most of it herself) and she has a lot on already... so it didn't really happen and sadly it's sitting there empty!

We bought another on the coast about 5 years ago which we planned to renovate and rent as a holiday home but never had the money to do it. I believe two golf courses have been built near it now so in theory the value of the land should have at least gone up - but again, we've had no interest (from what little advertising we've been able to afford). We also bought a forest near Elena thinking that could be a good investment but I think we will have to wait a long time before we see any price rise there.

Anyone know a good place to advertise property? There's so many forums and 'free' advertising sites around and we've posted loads of info but haven't had any queries. We tried Ebay but it's actually quite expensive to advertise property on there. The village house is beautiful and we can't be the only ones who love it, seems such a waste to be left sitting there, especially now it's been renovated (wasn't really in a livable condition before).

Has anyone had any luck recently selling property in Bulgaria?

Cheers

Ross

 

[okisen]

hi, yes im still buying in the Varna area, land only, as the city population is still growing. Its a very good time to buy, as owners are tired of waiting for a buyer and i have started to put in low offers on various interesting plots, and owners are mulling it over.
I have also managed to sell a few of my plots this year, despite the crisis, but have lowered my asking price considerably.
Key is not to get greedy.
Price your property cheaper than the competition. And if your property is in the Rousse area, then contact a few local agents, like address or foros. you might have to pay 5% commission or similar, but it could be worth it.

good luck
kas

 

[mrrossi]

Thanks Kas

Nice to know people are still buying then... albeit at lower prices. It's very hard to price property though at the moment; don't want to be 'greedy' but still need to get a reasonable amount else might as well hold on a few years until things pick up.

You say you're interested in the Varna area... what about further north, about Kavarna? We have a property there with 2500sqm of land about 15min inland from Kavarna (village is called Krupen). Even if you're not interested, have you any idea what a 'reasonable' price is for a property there? The house is on one storey and has about 5 large rooms, plus an extension with another 3 or 4 smaller ones. The main building is stone and is nice and solid, but the roof needs serious attention. I guess the main thing is the development opportunity and the large plot, and the fact that there's a good road to the coast in about 15 mins, plus 2 golf courses (have they opened yet??) in about 10/15 mins drive too.

Cheers

Ross

 

[okisen]

hi again, no im only interested in the varna region, and have no idea really what ur krupen property is worth. can see quickly that theres 2 small houses for sale there for 10000-12000 euros each, but yours sound like it is much larger. also depends if its livable, have western standart toilet, kitchen etc.
a good bet might be to divide the plot into 3 plots, and sell them of seperately.

and yes the golfcourses have opened, though im guessing they will be shut in winter.

good luck

 

[BG_Lawyer]

Dear Mrrossi,

Yes, the property situation in Bulgaria is difficult now. Many agents stopped to advertise abroad.
My Law Office is in Ruse. Please find out BulgariaRealEstateLaw dot com
If you come to Bulgaria soon I would like to invite you to have a beer.

 

[okisen]

True, the situation in bulgaria is difficult right now. On the other hand, that is precisely the right time to buy, as low prices can be easily negotiated and as the fundamental mid to longterm prospects for Bulgaria are still very very good imo.

good luck. oh and Ruse is on my to do list, i hear its pretty. might visit next time im in Bulgaria.

kas

Land in Bulgaria. Varna property

 

[BG_Lawyer]

True, the situation in bulgaria is difficult right now. On the other hand, that is precisely the right time to buy, as low prices can be easily negotiated and as the fundamental mid to longterm prospects for Bulgaria are still very very good imo.

good luck. oh and Ruse is on my to do list, i hear its pretty. might visit next time im in Bulgaria.

kas

Land in Bulgaria. Varna property

Dear Okisen,

Then I would like to invite you eighter for a beer in Ruse . You could E-mail me on [email protected], my phone number is +359 885 040 808, or you could see my address on BulgariaRealEstateLaw.com - Bulgaria Real Estate Law, Corporate and Commercial Law, Litigation. Ruse is situated in a plain, but there are some nice river valleys and huge forests. It is very beautiful now in the autumn and in the spring. It is situated on the Danube river bank. It is very cold in winter:santaclaus: and very hot in summer .

Kind Regards

 

[okisen]

Cool, will let you know if i will come to Ruse. I will be in Varna next week to finalize a deal, but probably wont have time for Ruse until next time.


cheers,
kas



Bulgaria land. Varna, Bulgarian properties.

 

[beth]

Hi

I know of a good agent in the area that has sold a fair few properties in that village who maybe worth talking to, he is based in the General Toshevo area. I am new to this forum so not sure if I can give you the details.

He would be worth talking to at any rate as he knows the area well. He is English and has a good reputation as an agent. If I can give the details on here let me know.

beth

 

[Plamen]

Pchelararovo is good choise!Nice,big village with potential!Closed to Gen.Toshevo!Very good price about rural house in good location!

 

[cruicky50]

Why buy old houses when there is so many renovated propertys for sale, lots of brits have went back to the uk leaving houses thay just want rid off. like new houses around our area Veliko Tarnovo going for about 25 to 30,000 euro.
We have a guest house near Veliko Tarnovo called Resen Lodge so for people coming over and require info, please pop in for a coffee.

 

[thetravelbug]

The property market everywhere has been difficult the last couple of years but 2010 has seen a slight improvement with more enquiries being reported by agents. Lots of bargains to be had all over Bulgaria.

 

[SimonJH]

Hi i sold my two Bansko properties through a Fractional Ownership company called Vista Capital took a little longer to sell than they first quoted but i got top market price i am now looking to invest in the Ukriane

Simon J Howard