BG worst place to buy property?

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Spiralbg
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BG worst place to buy property?

Postby Spiralbg » Fri Dec 23, 2011 10:47 am

According to an article in the news today, it seems Bulgaria is one of the worst places to invest your hard earned cash - still not as bad as Ireland though!

http://novinite.com/view_news.php?id=135108

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mrmike

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Postby mrmike » Fri Dec 23, 2011 10:56 am

its only a bad place to buy if your looking to make a fast buck as they say but where else can you buy a property have no morgage have a low cost of living clean air etc etc etc

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Oscar
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Postby Oscar » Fri Dec 23, 2011 10:59 am

Investors just never got it,buy to live was the right way to go,and the banking and Eurozone crises just made it even more so.

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Postby mrmike » Fri Dec 23, 2011 11:17 am

They gambled they lost thats life live with it they never complained when they were making plenty if they wait long enough it will come back

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ciuccati
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Postby ciuccati » Fri Dec 23, 2011 11:33 am

The article refers to resort property and doesnt look into farmlands which did go up in price this year.

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Postby houseman » Fri Dec 23, 2011 12:02 pm

They seem to overlook the opportunities that volatility affords. If you buy at the right time (ie when prices are low) and sell near the top of the next boom (yes, it's going to happen, just a matter of when!), then you will do well.

You may not do so well if you buy in a more stable market where the gap between current and future value is a lot less. (granted, it may be better for peace of mind.)

Unfortunately most investors tend to buy too late in the down cycle and sell too early in the upturn. That is why we are not all millionnaires.

Some people also think they can predict the future, which a risky supposition. My crystal ball says: "Ask me what happened yesterday. As for tomorrow, ask me then."

:smt009

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SheilaP

Postby SheilaP » Fri Dec 23, 2011 12:09 pm

Never really 'got' the desire to invest in properties abroad. Buying an inexpensive place because you liked the country and wanted to spend time there was the motivating factor for me. There you go, will never be a millionaire or bankrupt don't suppose..

Happy Christmas to all my fellow MyBG'ers and hope 2012 treats you all well!

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Postby littlescoot » Fri Dec 23, 2011 12:47 pm

The article also states that Sofia is the most dangerous city in Europe to live in. Rife with organised crime, no resale market and falling prices. Guess our apartment won't be selling for a while then :(

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Postby Seedy » Fri Dec 23, 2011 1:35 pm

littlescoot wrote:Guess our apartment won't be selling for a while then :(


Depends on what, where and how much it is. Apartments ARE selling where we are, albeit at massive losses to the original purchasers. Why not stick it in the For Sale section if you're seriously trying to shift it - you never know! ;)

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Postby Spiralbg » Fri Dec 23, 2011 1:42 pm

This article has probably been written based on some statistics pulled from a Knight Frank report.
I would be quite confident to bet that the creators don't even know where Bulgaria is, never mind having any experience in investing here.

Sofia is a great place to buy, as is any capital city. Bansko is beautiful, and a great resort, if you can buy cheap enough then I would definitely advise anybody to do so! The losers are the unlucky sods who were sucked into buying at massive prices 5 years ago. As for Sunny Beach, I have never liked the place, and probably never will!

If the Russians are buying in BG then it can't be all that bad, surely?


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