BG worst place to buy property?

Look here to read or post general articles and links about Bulgaria from the press and to advise of pending relevant TV coverage.

Moderator: Moderator

Sell Overseas Property
Cash For Your Property
charlieboy

Postby charlieboy » Fri Dec 23, 2011 9:00 pm

Nothing wrong with Bg - couldn't afford the house I live in with a great rural community and outlook - plus the cheap holidays and restaurant meals and absolutely no violence only helpful people.
But hey some people like the UK.. :wink:
I see the Muslim schools are teaching 10 year olds how to chop off hands and feet - nice...won't be long before this is integrated in to GCSE'S :wink:
Any stabbings??? Well will wait till I read the morning papers - bound to be a few about ---Oh - the UK I mean...suckers.. :P

Sell Overseas Property
Cash For Your Property
BG9374

Postby BG9374 » Fri Dec 23, 2011 9:27 pm

Sofia maybe has a lot of organised crime, if it does then they are very well organised and keep their crime away from those on the street. Consideration how dark some of the city centre streets are, papers report little street crime. Ok, the car fires at the moment are a bit wild, least its property not people.

Get to the UK, muggings, stabbings, shootings, sexual offences, car theft, and with all the CCTV in the country - take Bg anyday.

Sell Overseas Property
Cash For Your Property
User avatar
Seedy
Mega User!
Mega User!
Posts: 2252
Location: Sofia/Dupnitsa/Lincs/

Postby Seedy » Fri Dec 23, 2011 9:43 pm

BG9374 wrote:Get to the UK, muggings, stabbings, shootings, sexual offences, car theft, and with all the CCTV in the country - take Bg anyday.


And for all those who complain about how cruel Bulgarians are towards animals.....http://www.bbc.co.uk/news/uk-england-leeds-16321416

Sell Overseas Property
Cash For Your Property
User avatar
shebry
Super User!
Super User!
Posts: 643
Location: United Kingdom

Bg worst place to buy property

Postby shebry » Fri Dec 23, 2011 11:41 pm

Read page one of this topic, then read the text below and see how this topic has degenerated. The following has absolutely nothing to do with the OP and is a load of cr*p
Merry Christmas

I see the Muslim schools are teaching 10 year olds how to chop off hands and feet - nice...won't be long before this is integrated in to GCSE'S
Any stabbings??? Well will wait till I read the morning papers - bound to be a few about ---Oh - the UK I mean...suckers..

Sell Overseas Property
Cash For Your Property
User avatar
shebry
Super User!
Super User!
Posts: 643
Location: United Kingdom

Postby shebry » Fri Dec 23, 2011 11:56 pm

Report taken from Novinite

Bulgaria - No Longer The New Spain for Overseas Investors
Views on BG | December 23, 2011, Friday| 749 views

Bansko in the Pirin Mountian is Bulgaria's most popular winter resort. Photo by BGNES Following is the section on Bulgaria in a report compiled by Colordarcy consultancy, which outlines "The 5 Worst Property Markets To Invest In 2011".

Bulgaria was once regarded as 'the new Spain' for overseas investors – not anymore.

Unfortunately, for many investors lured into coastal and Bansko ski properties with no exit in sight, the dream came to a sorry end. They'd have been better off buying a beach hut in Bournemouth as many will no doubt be trapped in a plummeting property market with no resale market insight and a country experiencing severe economic difficulties – hardly a recipe for property investment success.

Property prices are in freefall and there appears to be no way out of the spiral. British and most definitely Irish investors have fled and have now been replaced by a new invasion of Russian property investors. By all accounts, the Russians know how to drive a hard bargain, resulting in falling prices.

The added problem is these Russians are fewer in number and less than 5% of them are interested in investing in areas other than the coast.

Property prices in Bulgaria registered a further 10.95% decline in 2011 and there is no indication of when they will hit rock bottom with the economy being hit hard by recession.

For some British and Irish investors caught out when the bubble burst, there might be the small consolation of spending annual winter and summer holidays on the Bulgarian coast and ski resorts, but the novelty has probably already worn off when you look at the aforementioned declines in value this year.

Meanwhile the capital Sofia was subject to huge foreign investor interest in 2007, but the ensuing bubble has long since burst and if you still fancy a trip out there to view what's available be warned, 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!

If you like living dangerously the one bright spot is that average yields are ok in good locations at between 5 and 6%, assuming a tenant can be found.

Pros

The Russians are helping to prop up the coastal markets.

Yields are good if you can get a tenant.

Distressed sellers mean low prices.

Cons

Corruption.

Investing in ski property remains a slippery slope.

Falling property prices and a struggling economy.

Virtually no resale market, developers can't even sell new property.

You will be lucky to find tenants.

Sell Overseas Property
Cash For Your Property
User avatar
millomgirl
Mega User!
Mega User!
Posts: 1578

Postby millomgirl » Sat Dec 24, 2011 7:50 am

The Chinese are currently buying up huge swathes of agricultural land around Vidin at the moment too.

Sell Overseas Property
Cash For Your Property
User avatar
Oscar
Mega User!
Mega User!
Posts: 2406
Location: Varna, Bulgaria

Postby Oscar » Sat Dec 24, 2011 7:56 am

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)

Sell Overseas Property
Cash For Your Property
User avatar
yankv8
Super User!
Super User!
Posts: 442
Location: S. Wales UK,now nr Harmanli

Bulgarian property

Postby yankv8 » Sat Dec 24, 2011 8:13 am

Oscar,was that in the UK,circa 1980's namely pontypridd S,Wales,my area of habitat......or is this Bulgaria now.
If you read some press or so called reporting,you wouldn't live or buy anywhere,its easy to pick on Bulgaria,when writing an article for Brit readers,but i could do the same about the UK for Bulgarian readers !!!!!
Property IS falling in price in Bulgaria,because it was OVERPRICED,and naturally finding its correct balance,it was mainly poshed up by Brit property agents and daft buyers,of course the Bulgar agents caught on too,but compare prices to Europe,Spain for instance,wgat can you but in Bulgaria for £250,000 !!!!! and ask sellers in Spain if thier loosing money or dropping prices.

Sell Overseas Property
Cash For Your Property
User avatar
Painter
Super User!
Super User!
Posts: 202

Re: Bulgarian property

Postby Painter » Sat Dec 24, 2011 11:23 am

I agree with yankv8 and think that pound for pound any lose suffered in the Bg property market (especially more rural properties) will be a lot less than else where simply because the initial out lay was so small for the majority of investors. I am not saying they have not lost money but it is easy to get lost in statistics; A 50% loss on a property initially worth 250,000 as opposed to one originally costing 20,000 are very different things.

Sell Overseas Property
Cash For Your Property
User avatar
brianj42
Mega User!
Mega User!
Posts: 2394
Location: Sat at my bl**dy computer !

Postby brianj42 » Sat Dec 24, 2011 12:15 pm

Think of it another way. News like this keeps the sharks at bay and any dolphins that are happy with their permanent moves to BG can rest assured that the population will not explode and the new buildings will diminish.

Enjoy what you have living in BG, warts and all, its a very very special place :wink:

:smt114


Return to “Media Coverage”

Who is online

Users browsing this forum: No registered users and 2 guests