G
Georges
Banned
The way I see it the BG market will further deteriorate but eventually Sofia, Varna and even Bansko will do fine. Don't expect rentals to make you rich but rather use it a way to preserve capital. It's crucial to investigate the rental management company since it's a new business in Bulgaria. My advice to people who want out of the market now is not do to it. It's not a seller's market and unless you need the cash badly, try to rent not to sell at a loss.
Rental market in central Sofia is doing fine. There is a healthy demand for small inexpensive units (around 350 euros/month) and for large family apartments catering to the expat community.
If you're beyond the Belt, tough luck, the traffic is getting worst by the day and some expats have been moving back to the city.
As far as distressed property sales in Bansko, there is no real transparent mechanism a foreigner can rely on. Many developers are strapped for cash but don't want to advertise it, and the few good deals can pass you by while you're not looking. It's an all cash market though, banks are no longer hot on Bansko.
If the ski people don't screw it up with the world cup marketing, media coverage and organization Bansko should do fine this winter season.
Rental market in central Sofia is doing fine. There is a healthy demand for small inexpensive units (around 350 euros/month) and for large family apartments catering to the expat community.
If you're beyond the Belt, tough luck, the traffic is getting worst by the day and some expats have been moving back to the city.
As far as distressed property sales in Bansko, there is no real transparent mechanism a foreigner can rely on. Many developers are strapped for cash but don't want to advertise it, and the few good deals can pass you by while you're not looking. It's an all cash market though, banks are no longer hot on Bansko.
If the ski people don't screw it up with the world cup marketing, media coverage and organization Bansko should do fine this winter season.
