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Saturday, October 11th, 2008
You are here: Shelter Offshore » Property Abroad » Property in Bulgaria
Saturday, October 11th, 2008
There has been very little positive news bandied about in relation to the property market in Bulgaria of late – where there has been anything remotely optimistic written it has been in relation to Bulgaria’s ski resorts and the properties therein, which are still in demand from rental tenants and will likely remain so as long as Bulgaria keeps its feet on the ground and remains a cheap ski destination.
Coastal property in Bulgaria has been all but written off by the British press as being a bad investment and not worth the levs that people have paid for it – but some interesting new facts have come to light that suggest there is life in Bulgaria’s summer resorts after all, and that we have just all been looking in the wrong place for it.
There is sustained and consistent Russian interest in property in Bulgaria on the coast and in the interior and so today we’re asking, are Russian’s saving Bulgaria’s property market? If you already own a property in Bulgaria and you’re wondering what to do with it, whether you can sell it today and cut your losses, whether it will rent and if it will ever turn a profit, read on!
Oh, oh, oh, sometimes our very opinionated streak cannot be quashed and reined in for the sake of calm reporting – and today is one of those days when we have decided to let it all come tumbling out! Please forgive us…for we’ve just read some hysterical news from the Bulgarian property market that we just had to share with you.
Earlier this year we just about managed to bite our tongues and refrain from comment when the estate agents at Knight Frank placed Bulgaria in the top spot for property price gains in 2008. We stopped ourselves from pointing out what could be the potential irony of an estate agency with properties for sale in a slow and stagnant market such as Bulgaria’s talking it up…but now we cannot hold back any longer.
Read On...
As more Brits start to feel the effects of economic woes at home they’re starting to ditch some of those little luxuries that no longer seem quite so affordable or desirable, topping the list of such luxuries is the second home abroad. The overseas holiday home or ‘property investment’ is often viewed as an easily expendable asset that will provide some much needed capital through a tricky period without having a dramatically negative affect on quality of life. But what happens when too many people all have the same idea at the same time? Is it time for the smart property investor to do the opposite?
Simon Walker manager of Knight Franks International Off Plan division reports that primary overseas investment and property in the sun hotspots such as Bulgaria are seeing a marked trend change from a British investment market to a British selling market as Brits hope to cash in on their overseas assets. He says “It’s not like a wholesale thing, but there is a definite sea-change. Because there is trouble at home, people are going: ‘What can we get rid of?’
Read On...
Following the boom, boom, boom years in Bulgaria’s property market when the country was being heralded as the next big thing in terms of ski and sunshine resort property investment for jet-to-let returns, all has been quiet of late on the Bulgarian real estate landscape and so it is time to ask the question – ‘what’s happening in Bulgaria’s property market?’
The fact of the matter is, the numbers of construction permits applied for and approved are down, property prices are down, levels of interest are down – and yet agents and constructors are still talking up the market! Is there any point in investing in property in Bulgaria at the moment? Let’s take a closer look.
Read On...In all the talk about Bulgarian property that has been ongoing for a good few years, the focus has generally always been on investment property and where to buy real estate in the nation to let to the tourism market or to buy off plan and flip for capital appreciation. Little consideration has been given to where to buy a family home in Bulgaria.
Because the country is now so easily and affordably accessible and is a member of the European Union, it is a location on the radar of the increasing number of Britons considering expatriating to live abroad to find a better life. Therefore we thought it was high time that some proper consideration was given to attractive locations for living in in Bulgaria.
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