Welcome all,
I've been doing a bit of research on Bulgaria, exploring the possibility of buying an apartment on the Black sea coast, Sunny Beach. I'm looking to go out there sometime.
From what I have read, Bulgaria is a pretty sound investment, is this really the case? Is it the new Costa del sol?
Has anyone bought out there yet?
Cheers
Fabian

Hi Fabian,
What exactly is it about Bulgaria that makes it a good investment?
Is there a vibrant economy? Is there an economy at all?
What?s the capital city? What?s the law regarding foreign ownership?
Why do people keep coming on here asking stupid questions about god-forsaken hell-holes in Transylvania?
Thanks
Gabriel

Hi Fabian,
I need to ask a simple question (I have a friend who has invested heavily in Bulgaria and keeps encouraging me to do so, but I can't work out why I should):
- Who has been to Bulgaria on holiday? Do people know anyone who has been to Bulgaria on holiday?
I don't know anyone who has decided to take their precious two weeks Summer holiday there, and I wouldn't dream of it myself (not being snobbish, just don't know anything about the country and plenty of other places to visit). So, why should I buy a holiday home to let to people who don't go there?
I know it sounds facetious, but I really would be happy to stand corrected if someone can prove to me there's a market there rather than pure speculation.
Thanks
Gregory

you can use it as 2nd home

There are many hundreds of thousands of tourists come to Bulgaria each year - for sun, for skiing, for walking, rural holidays, culture.....

Rachel

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Bulgarian property for sale from just 4,000 Euros. Renovations, relocation, furnishing and free advice. Visit http://www.thetravelbug.org

Village houses to rent from 50E/mth - http://www.therentalbug.com

There are apartments with garanteed rent which are very good investition .We have for sale some apartments like this in Sunny Beach, Bulgaria

I think people should be very careful if considering to invest in Bulgarian real estate, because:

1. Market prices have jumped tremendously over past several years and market crash can be close. I'd agree that short-term investment may still be interesting, but definitely not the long-term.

2. Properties have been built in thousands and supply can exceed demand very soon. Also there is quite large inventory of unsold properties especially in the resorts areas

3. Bulgarian beaches are not as beautiful as Spanish or Carribean and season is much shorter, so weathy tourists would definitely choose other destinations

Needless to say that right now almost everyone in Bulgaria is trying to make money on real-estate, so amount of speculations is huge.

1st John the prices soon will jump again ,second - there are many unsold apartments because developers don`t stop to build new buildings ,which means that the interest is still very big and the prices are lower than Spanish or Caribean.And in the end , how many Bulgarian beaches have you visited and what do you sell in Spain ?

From a pure investment point of view i would not reccomend Bulgaria, if you bought in 2003/2004 you did well, buying now is not a move i'd personally make, prices are too high & supply is exceeding demand, as for rental, Bulgaria only has a 4-5 month rental market, for investment you really need to be looking at a emerging market - Morocco is where people are currently investing, do some research & you will find this out for yourself .

If you want more information on Morocco & the new developments feel free to send us a PM & I shall assist.

There are some true and false points made here. Yes supply exceeds demand and prices too high in places like Sunny Beach where over 30,000 (around 1/3 of new builds) apartments are for sale, rental is impossible and no resale. Similar in Bansko.

Never been to Caribbean but am sure beaches there are much nicer.

Developers keep building new apartments, not because demand is there but as they think they think can make a quick buck. A large investor/developer just pulled out of development on southern coast as no buyers.

Avoid anything with guaranteed rental as likely overpriced and rental just built into price.

Bulgaria is a long term market, money can be made in short term but would need to be investing in maybe land around golf and spa resorts say.

Rachel

__________________
Bulgarian property for sale from just 4,000 Euros. Renovations, relocation, furnishing and free advice. Visit http://www.thetravelbug.org

Village houses to rent from 50E/mth - http://www.therentalbug.com