BG worst place to buy property?

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Hippyboy
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Postby Hippyboy » Sat Dec 24, 2011 12:24 pm

I'm sorry but I've got stick my oar in here . All this waffle about investors is a load of tosh ! People SPECULATED , just like the banks do , and many may have lost out : TUFF ! For those that wanted somewhere to live , they've probably done alright , assuming that they had their finances sorted . I have no intention of selling my houses , so I really couldn't care less whether are worth more or less than I paid for them ; what does it matter ?! A loss is a loss if you see it that way ; alternatively I would see that I've lived in my cottage for the best part of 4 years , so it's already paid for itself , if I move on tomorrow I won't have lost anything . Tim .

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Postby qwerty » Sat Dec 24, 2011 12:33 pm

BG worst place to buy property?

Absolutely the worst, Baghdad is much better, dont come here stay away, you will loose gazillions,be warned, here be Dragons!!!

Nobody ever reads past the first line in an internet search, that should keep the speculators away a little longer, I've only been here a year (Wish we came sooner) but I gather from people we know that the peak prices were 4 or 5 years back. We came here to live, to do the country house and garden thing, more quality of life than quantity of life!!

Speculation will return at some point, it always does, but for now we can all enjoy Bulgaria in peace :D

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Postby TGIFred » Sat Dec 24, 2011 2:00 pm

Anyone any idea of the best place to buy?
Somewhat rural and off-track?

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Postby gimlet » Sat Dec 24, 2011 2:15 pm

Oscar wrote:
shebry wrote: Sofia is regarded as one of the most dangerous cities in Europe. Organised crime is rife and almost a third of its citizens never feel safe in the capital!



They should think themselves lucky,in some places,they drop huge chunks of concrete from motorway bridges on to cars below. 8)


Yes, that's the trouble with disorganised crime, collateral damage among law abiding citizens is much greater.

Most surveys of Bulgarian property will be skewed by apartment prices. The inadequacies of Bulgarian condominium law and the short season have made those a very bad bet.

As Painter says any losses on village property are not going to be so large as to be disastrous and the land should retain some value even if the house falls down.

Also the cost of holding a village house in Bulgaria is small compared to the UK. If Council Tax was levied at UK rates they would have a negative value.

The cost to EU citizens will go down from 1 January when a Bulgarian company is no longer required. That should provide some support for prices.

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Postby banjo » Sat Dec 24, 2011 2:46 pm

I do not have any doubts that Bulgaria is NOT the worse place to buy property. All around the world property prices have collapsed no more so than the jolly U.S.A.In the UK they are stable after falling around 25 per cent but thats only because there is a cronic shortage of property mainly caused by relationship break ups and a big influx of EU citizens coming to work and live here in fact London prices have gone up.

8) 8) 8)

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Postby shebry » Sat Dec 24, 2011 2:50 pm

I never wrote the following, it was a quote from Novinite
shebry wrote:
Sofia is regarded as one of the most dangerous cities in Europe. Organised crime is rife and almost a third of its citizens never feel safe in the capital!

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Postby ChrisF » Sat Dec 24, 2011 3:04 pm

Off tpic, but where has the idea that companies are no longer required to own land from 1/1/2012 come from?

Company reregistration must be done by 31/12/2011 but, as far as I am aware, companies are still required until 2014 if a non-Bulgarian wishes to purchase land

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Last edited by ChrisF on Sat Dec 24, 2011 3:18 pm, edited 1 time in total.

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Postby oldtimer » Sat Dec 24, 2011 3:13 pm

This is a rumour going around that you dont need a company to buy land, as far as I am aware this is going to be looked at in 2014 but by then it will probably all have changed again, Yes as from the 31st Dec any companies that have not reregistered will no longer exist, so basically if your company has a house then it is no longer your companies.

They are talking about anyone that will have lost there property due to not reregistering can make an application to get your company and its assets back but at the moment no one is that sure how this will work even if it will be put onto place. If is put into place then it will I am sure cost you a lot of money in fines and legal fees to get back your company and assets

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Postby gimlet » Sat Dec 24, 2011 3:43 pm

The duration of the second home derogation was written plain as a pikestaff into the Accession Treaty and it has been referred to on this forum countless times, most recently by Hoover here, who took the trouble to post the relevant Article from the Treaty.

http://www.mybulgaria.info/modules.php? ... nal#450177

How can there be such widespread ignorance about such an important provision, that might prove a "shot in the arm" for the property market? :roll:

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Postby ChrisF » Sat Dec 24, 2011 4:17 pm

It's Christmas Eve and I haven't time to research this topic, but I'm pretty sure that there was an option in the Accession Treaty which allowed Bulgaria to extend the time period by 2 years, and they have taken this up, so the date we are looking at now is 1.1.2014

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