Our Bulgarian dilemma. Help please!

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millomgirl
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Re: Our Bulgarian dilemma. Help please!

Postby millomgirl » Sat Apr 23, 2011 2:30 pm

Oscar wrote:
mickthemick wrote:Can anyone please advise us?

The only reason we would consider another property is buy to let.



Don't even think about it....dilemma solved.
Absolutely agree! You have to ask yourself that, with properties so cheap and so many Brits and other nationalities now selling with often huge losses, why aren't they all jumping on the bandwagon and renting out? Because the market isn't there, that's why! Don't make the mistake of thinking that money is best invested in bricks and mortar, especially in rural Bulgaria.

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Re: Our Bulgarian dilemma. Help please!

Postby flowers » Sat Apr 23, 2011 4:37 pm

millomgirl wrote:
Oscar wrote:
mickthemick wrote:Can anyone please advise us?

The only reason we would consider another property is buy to let.



Don't even think about it....dilemma solved.
Absolutely agree! You have to ask yourself that, with properties so cheap and so many Brits and other nationalities now selling with often huge losses, why aren't they all jumping on the bandwagon and renting out? Because the market isn't there, that's why! Don't make the mistake of thinking that money is best invested in bricks and mortar, especially in rural Bulgaria.
good advice you have been given don,t buy a second property,the people that have done that and had to leave them ,they then fall victem to gypsies who will squat ,simple as that,there is no one wanting to rent in a village short or long term,just enjoy renevating your house,and good luck for the future

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Postby owain » Sat Apr 23, 2011 9:35 pm

Agree with all of the previous posts. If your buying to let then look to buy in the Towns.In Russe, a 1 bedroom apartment will rent for between 150 and 300 Leva per month.
These sites are used by Bulgarian Agents and private owners, they're useful as a guide to rental and sales prices:
http://www.imoti.net/
http://www.imot.bg/
http://imoti.bg/

Alternitavely, as a previous poster said..put your cash in a Bulgarian savings account cos Bulgarians don't have money to spend on rentals now anyway :wink:

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Postby xt600 » Sun Apr 24, 2011 10:38 am

There's a lot of talk about putting money into BG savings accounts here. My Bg bank couldn't offer me anything better than the 3-4% I can get in the UK.
Can I ask which bank in BG is offering decent rates?

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Postby MOD » Sun Apr 24, 2011 10:51 am

xt600 wrote:There's a lot of talk about putting money into BG savings accounts here. My Bg bank couldn't offer me anything better than the 3-4% I can get in the UK.
Can I ask which bank in BG is offering decent rates?


Hi all,

Please continue the discussion about savings and deposit accounts here;

http://www.mybulgaria.info/modules.php? ... c&start=91

Thanks

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Postby oldtimer » Mon Apr 25, 2011 9:11 am

Dont even think about it if you are looking to rent out long term. Maybe consider buying in a large town but again you will have to take into account that you are going to need an agent to collect your rent etc, but dont be suprised if you find that the renter if you get one does not pay the rent.

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Postby scot47 » Mon Apr 25, 2011 9:57 am

Save all the hassle by putting the money in the bank. Le jeu ne vaut pas la chandelle. The game is not worth the candle.
Last edited by scot47 on Wed May 04, 2011 3:30 am, edited 1 time in total.

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Postby jinx57 » Wed Apr 27, 2011 10:18 am

buy to let in this marketplace ...mmmm maybe not the most auspicious time to consider this. Don't be pushed around by a persuasive agent or a so called 'friend' desparate to unload a property on to you. Keep hold of your money for now even though interest rates aren't that great - better to have it available than tied up in a property you can neither rent out or sell.

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Postby mickthemick » Tue May 03, 2011 2:31 pm

Thanks for the advice all.

After reading your replies it seems that buying to let in a village is not a very good idea. We decided to pass on the house anyway and are thinking about apartments in Sunny Beach instead. So I would like to ask the same question again but changing the location to the coast. The ones we are thinking about are very cheap but very small. They are in the centre and two people could sleep there but not a family as they are not big enough. What rent might we expect to get for a week in the summer season. Does anyone know of a decent letting agent in Sunny Beach as our house is miles away and it would be to far to travel all the time.

Mick

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Postby owain » Tue May 03, 2011 3:25 pm

It's a very short Summer Season in Bulgaria so most of the year your property would be empty, not to good if your buying to let. An alternative could be to look for a cheap apartment near the Unversity in Varna and rent to students. You'll also have a better chance of a future re-sale.


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