P
peteark
New Member
My own feelings are late 2011 early 2012
B
beth
New Member
I think the market will pick up when other European economies improve and the exchange rate with the £ gets better.
However, if you are in a position to you can take advantage of the situation now and buy cheaper, as once the markets do recover, the prices will start to go up again. I purchased a house 5 years ago and I am now selling it for what I paid for it back then, so bargains to be had.
Beth
However, if you are in a position to you can take advantage of the situation now and buy cheaper, as once the markets do recover, the prices will start to go up again. I purchased a house 5 years ago and I am now selling it for what I paid for it back then, so bargains to be had.
Beth
B
bar
New Member
After 2012 things will start get better in Bulgaria
L
Lysos
New Member
So Beth, you actually lost money in real terms. That will apply to everyone who bought ridiculously over priced ski & beach apartments - no matter when or if the market starts to rise; in real terms you will have lost money.
S
Smarty
New Member
Indeed in real terms you have lost the equavalent of what you would have got if you put the money in a savings account or inflation whichever you prefer. Also the transaction costs are not recovered if you sold just for what you bought for. Of course if you have not sold you have not lost any money!
My thinking on the market is that when it recovers it will recover quickly. Properties are still value for money relative to what you can get elsewhere and were still relatively affordable at the peak. I also think there will be a confidence boost if / when Bulgaria formally enters the EU that will help boost prices. Anyone have any thoughts on this?
So my projections 2011 by the end of the year prices flat or slightly up on the start of the year. 2012 +10%, 2013 +15% and that by end 2014 prices will be where they were at the peak...educated guesswork of course but hey hopefully a reasonable forecast
My thinking on the market is that when it recovers it will recover quickly. Properties are still value for money relative to what you can get elsewhere and were still relatively affordable at the peak. I also think there will be a confidence boost if / when Bulgaria formally enters the EU that will help boost prices. Anyone have any thoughts on this?
So my projections 2011 by the end of the year prices flat or slightly up on the start of the year. 2012 +10%, 2013 +15% and that by end 2014 prices will be where they were at the peak...educated guesswork of course but hey hopefully a reasonable forecast
B
BPAG
New Member
If Beth is selling her properties now for what she paid for then 5 years ago and she plans to bring her money back to the UK.
It is possible that she could break even or even make money overall on the deal as at present the £ is very low against the euro.
Beth I know of many people who are keen to sell in Bulgaria could PM me with details of who you are selling through and how successful they have been at actually selling your properties.
It is possible that she could break even or even make money overall on the deal as at present the £ is very low against the euro.
Beth I know of many people who are keen to sell in Bulgaria could PM me with details of who you are selling through and how successful they have been at actually selling your properties.
L
Lysos
New Member
Bulgaria isn't in the € zone, so what's relevant is the exchange rate of the £ v. the Bulgarian Cabbage.
J
Jain and Chris
Senior Member
It may not be in the eurozone but the BGN is pegged to the euro, so exchange rates won't alter.
Most expat Brits (and others) are selling in Bulgaria now taking advantage of the British Pound to euro rates and are thus making money or at least breaking even. Good on them!
As my father (deceased) said to me: if you only lose what you would have spent on rent or holidays in another country, then that is fine. Same as for a car - if, when you come to sell, it has cost you less than renting a car during that period, then that's ok.
Besides, all property prices across the world have come down. So, you sell your Bulgarian property at 20 to 35% less than you bought? So what, everywhere else has come down by near the same amount - so it's a basic 'swap' on price.
Most expat Brits (and others) are selling in Bulgaria now taking advantage of the British Pound to euro rates and are thus making money or at least breaking even. Good on them!
As my father (deceased) said to me: if you only lose what you would have spent on rent or holidays in another country, then that is fine. Same as for a car - if, when you come to sell, it has cost you less than renting a car during that period, then that's ok.
Besides, all property prices across the world have come down. So, you sell your Bulgarian property at 20 to 35% less than you bought? So what, everywhere else has come down by near the same amount - so it's a basic 'swap' on price.
B
BPAG
New Member
Most property sales in Bulgaria are quoted in euro now.
