For future reference, never trust a mortgage company that is nearly hand in hand with the property company. Especially if they appear at an exhibition(s) and even worse if the exhibition is hosted by only one big company. Would you believe that there was a impartial independant mortgage company working side by side in the same office as the Property company in Spain in an effort just to close the clients.

Some would say that some mortgage companies are actually owned by the (big) property company. The mortgage company, the currency exchange company are all tools of the big property companies to close the client.
After all if you get all the mortgage advise, currency advise and legal under one roof then you are informed and you should have no reason not to sign on the dotted line. Again not all property companies are the same and some are great and genuine. But read between the lines please !

Latest releases for cystal peaks can be found on offplanpropertyexchange, do you think its a good investment?

So, Melanie

You have done your research comparing all the different developments, facilities, locations, prices, rental demands, resales.

You will have discovered:

A vast oversupply of properties.

No resale market

Very few sales of new property in recent months

A very short ski season (getting shorter - global warming)

Poor standards of construction

Need to be near the ski lifts/gondola to have any chance of rentals

This development is described as being 'near' Bansko !!!

What more do you need to know ?.

Of course, it's a fantastic opportunity !. Doh !.

Hi Lysos (and indeed everyone)

Please, when mentioning agents' names, be very precise. There is more than one agency using the name of ***** and I received a complaint from one of them some time ago, quite rightly so as it was not clear which ******* was being discussed and it was damaging their bueinss.

If you are not sure of any facts or the full name of the company, then please don't put it on the board.

Many thanks in advance for your understanding.

All best wishes

__________________
Jain Goodall, Director, Quest Bulgaria Magazine

For owning and buying property in Bulgaria
http://www.questbulgaria.com

Hi, Have just bought in Perun Lodge. Was over there recently and compared to all the french resorts I've been to, I thought Bansko was first class. Yes, there's a gezillion builds going on over there, though I thought the quality fo the finished projects I saw was of good standards. Obviously any investment is a risk, though even with this saturation of new property's, I think Bansko could work up to being a great all year round resort!

Hi Ive bought 2 studios in perun lodge for 67 and 69k euros. Have been told by several developers and agents that this will be on par with kempinski (5 star). I also saw the show room for perun lodge in the hotel opposite (which the developer of perun lodge also built) which is 4 star and is great quailty. My furniture packs were included free, as the developer was worried about people buying their own packs and they not being of 5 star quality to reflect the resort. I think this reflects the developers visions for the hotel to be 5 star quality and nothing less, hence going to to stand out against other developments.
Another thing for people who have purchased perun lodge, I had a clause edited in the prelim contracts, to give me written notice to any changes in the resorts facilities, as it states in the contract by default that they can remove the swimming pool for example without our consent. Although clauses like these are usually normal, I think its always a good idea to be aware of what could happen as this could affect rental prospects and resale oppurtunities.
I think Bansko is a first class town, and only getting better. Though investers will have to wait longer for a return than some might think.

hi as anybody heard of mountain view, near the kemplinski hotel, we bought a studio there just wondered if anybody else as and are they happy with what they bought

I did not see a reply to your question, but of course there are many places to choose from. Dont want to be too specific on areas but you can pm for some thoughts but you may want to consider easy access from Sofia airport if you are thinking of building. I like areas about an hour to the North of Sofia and to the South in the Rila Mountain areas. In the areas to the North, s far as I could tell, UK buyers have not arrived according to a local Bulgarian friend of mine. To the more expensive south foreign buyers have arrived and its generally a little to a lot more expensive (nearby ski resorts / golf courses)

As I have been screwed by a Bulgarian seller of land (the old last minute trick of increasing price from levs to euros) I would be happy to give you this tip to avoid my mistake:

It is, in my view, often essential that a buyer does not see you are English and that if you buy, you should do it through a non local lawyer (larger Sofia firm) who does not reveal your identity. Remember that although your non BG name as manager of the company you (your lawyer) would have had to set up to buy the house or land has to be revealed in the Notary on completion date).


If you are concerned about this risk do not agree to Preliminary contract before (typically 10% deposit) before completion. Go straight to completion. If buying unregulated land be very careful and take advice. Regulations and permissions to build can easily take two years and in no way are certain to be granted. Hope this helps a little.

Hello Flyerman

Thanks for your post. I do find it strange that for a first post you are asking people to pm you for information; also not least because you seem unwilling to share your information on open forum. Why not?

Going straight to final deeds also has it's risks.

Mind you I agree about unregulated land - it can take absolutely ages to get regulation and of course is not guaranteed.

Where have you bought and what?



Topcat, there are many many great places to buy in Bulgaria apart from south or north of Sofia. If you are looking for quite remote villages, well they are ten a penny here and many of them are totally beautiful.

You may have paid over the odds, who knows... but don't worry and give it a bit of time and you'll find it has been a good investment.

My recommendations when looking for a village property would be :
1. Location, location, location - easy access to airports if you need this and good roads plus facilities within walking distance or at least nearby (food shops, doctors, chemist, bars, restos)
2. Position - what kind of village is it? Does it have any facilities? What are the surrounding properties like? (Tip : take a look at museum towns - although called towns, they really are no more than villages - such as Jeravna, Kotel, Arbanassi - they are not making any more of these kind of authentic houses these days)
3. Get an independent lawyer

If there is anything else you'd like to ask, just let me know.


All the best, Jain

Enjoy the opportunity and the property - Bulgaria is a marvellous place and still a real good investment.

__________________
Jain Goodall, Director, Quest Bulgaria Magazine

For owning and buying property in Bulgaria
http://www.questbulgaria.com

Hi we bought in mountain view resort in bansko, near the kemplinski hotel just wondered if anybody else as bought there, or if people think it is a good investment. We paid 37.000 euros 2 years ago for a 37 sq studio