Investment Property in Bulgaria

[Lee Curtis]

Could anyone tell me if there is still good investment potential in Bulgaria? Clients I speak to, describe the Coastal resorts as overbuilt and over priced - and those looking for the ski resorts are now having to buy further and further away from the resorts due to lack of property. The ski side of Real Estate I can understand some potential, but are the Coastal resorts still performing? I guess the other problem in Bulgaria is the corruption? is this now being handled better? and who generally are the end users of Property there?

 

[Mickmac]

Im not sure if there are any good investment potential deals left in Bulgaria, the properties in Bansko are vey cheap at the moment but I think it will take a long time to get back to where they were 4 years ago.
I would say cheap rural properties would probably be the best option for investment at the moment.
Hope this helps
Mick

 

[KayJay]

Unfortunately, cheap rural properties are likely to take even longer to generate any kind of profit! If you can get a distressed sale of a renovated property then you MAY be in a better position but many foreign sellers still have totally unrealistic ideas of the value of their property in today's market. Be wary of many "cheap" rural properties - they are often cheap because they are in a dying village/area or in a village with very undesirable neighbours.

By and large, the Black Sea is indeed overbuilt but you CAN find some good deals - as to when/if your investment will bring in any sensible return, that is likely to be a long-term prospect.

If you're buying primarily for a holiday home then there are some good deals around but as an investment, it's maybe not the country to be looking in right now!

However, you can get a good rate of interest just by putting money on deposit in a Bulgarian bank - well worth checking out :wink:

 

[ladybird2011]

Agree with KayJay - if you are careful about the area, then you could put a few thousand into rural property and just let it sit there and in 5 to 10 years you'll likely make a good profit. On the coast there are some very good deals to be had but if looking for rental returns then not likely to produce anything. We have just bought a large, fully furnished and never used one bed apartment on a fantastic complex close to Sunny Beach. It was for sale for offers around 40,000 Euros about a year ago, which was what the guy paid for it plus furniture package. In the end we bought it for close to half of that. But it is purely for us to use as a holiday home. No interest in rental returns.