Bulgarian property
Discussion
Currently looking into buying a property in Bansko, Bulgaria.
Hopefully, as well as proving a weekend ski retreat for myself/friends it could also return a bit of money.
Anyone looked into it & know of anything I should be wary of ?
This is the place I am looking at:
www.bulgariandreams.com/property/theorchard_bansko/
Hopefully, as well as proving a weekend ski retreat for myself/friends it could also return a bit of money.
Anyone looked into it & know of anything I should be wary of ?
This is the place I am looking at:
www.bulgariandreams.com/property/theorchard_bansko/
I have often been tempted by overseas homes, but never actually bought one. My cash/loan stays invested in fairly risky areas (giving high returns, so far).
My thinking is this: You are committed to a country and property where you could otherwise often negotiate a reasonable rent. There is currently an oversupply of speculative overseas property investments.
During the years how many times would you go there? Say six; so you could go to six different properties/areas for an annual budget of say £2,000 (rental only). To me that is more attractive....
My thinking is this: You are committed to a country and property where you could otherwise often negotiate a reasonable rent. There is currently an oversupply of speculative overseas property investments.
During the years how many times would you go there? Say six; so you could go to six different properties/areas for an annual budget of say £2,000 (rental only). To me that is more attractive....
Selling property in emerging overseas property markets is my job - if you want to take a look at my company's web site feel free to mail me and I'll send it to you - we sell in Bansko amongst others. (Not sure if it's breaking the rules if I post web address here)
Something that people should make sure they do if investing overseas is check out the company they're buying from - go to their offices, check out their set-up, make sure they're not some fly-by-night.
Being a skier yourself I'd ensure any development you buy on is as close the the ski lifts as possible.
Cheers
Something that people should make sure they do if investing overseas is check out the company they're buying from - go to their offices, check out their set-up, make sure they're not some fly-by-night.
Being a skier yourself I'd ensure any development you buy on is as close the the ski lifts as possible.
Cheers
I've just noticed the website is in your profile & therefore looked on it.
The 3 year guaranteed letting is also an attractive element of the deal. As is the fact that the area is favourite to get the 2012 winter olympics, as well as a couple of other things which it has in its favour.
As said in first post. It is a place for myself/friends & family, although a bit of profit wouldn't go a miss. I am more looking at it as a pension fund for later in life.
The 3 year guaranteed letting is also an attractive element of the deal. As is the fact that the area is favourite to get the 2012 winter olympics, as well as a couple of other things which it has in its favour.
As said in first post. It is a place for myself/friends & family, although a bit of profit wouldn't go a miss. I am more looking at it as a pension fund for later in life.
) grebbo said:
Selling property in emerging overseas property markets is my job - if you want to take a look at my company's web site feel free to mail me and I'll send it to you - we sell in Bansko amongst others. (Not sure if it's breaking the rules if I post web address here)
Something that people should make sure they do if investing overseas is check out the company they're buying from - go to their offices, check out their set-up, make sure they're not some fly-by-night.
Being a skier yourself I'd ensure any development you buy on is as close the the ski lifts as possible.
Cheers
where do u think is best place for short term capital appreciation?
Spoke to a couple of guys whilst skiing earlier this year, and they were fairly positive about Bansko. Apparently the runs are decent enough, but there is a dearth of lifts and access - these should be sorted out over the next few years.
I work in investment property as well and have been doing the majority of my biz in Estonia and Portugal over the last 18 months (as any regular readers will know!). I feel that these are emerging markets with the majority of growth still to come, as opposed to some, like Bulgaria which have already compounded a lot of growth into the purchase prices. Are you making stage payments or gearing on the final investment? If so, what is the LTV? I am very keen to invest as little of my clients cash as possible, and financing procedures can make a good deal a great one.
Oh, and, in particular Estonia has some very preferential tax advantages + financing is very simple.
I work in investment property as well and have been doing the majority of my biz in Estonia and Portugal over the last 18 months (as any regular readers will know!). I feel that these are emerging markets with the majority of growth still to come, as opposed to some, like Bulgaria which have already compounded a lot of growth into the purchase prices. Are you making stage payments or gearing on the final investment? If so, what is the LTV? I am very keen to invest as little of my clients cash as possible, and financing procedures can make a good deal a great one.
Oh, and, in particular Estonia has some very preferential tax advantages + financing is very simple.
Hi a couple of us are seriously looking at the overseas markets and looking to invest in the next few months. We are becoming quite well read on many areas but it is always difficult to be totally comfortable about an area. The ones we are most keen on are Slovakia Slovia and the Baltics. Rich what are the Estonia tax benefits ?
Thanks
Thanks
Bansko is one of the most exclusive locations for investment. During the last years, Bansko manage to gain an incredible popularity and became the country's leading resort. It has been approved as top investment destination! More and more funds have been budgeted and released regarding the resort's infrastructure including new lifts and snow making machines.
Also, I found very useful information about 4 main property investment spots in Bulgaria. www.escapetobulgaria.com/Page27/Why_invest_in_Bulgaria.html
Also, I found very useful information about 4 main property investment spots in Bulgaria. www.escapetobulgaria.com/Page27/Why_invest_in_Bulgaria.html
Don't places like this only look good because of all the others who think the same (usually Brits) are jumping on the rising price ladder, then jumping off selling to another Brit hoping they have got off before the bubble bursts.
i.e. the speculators are creating their own market, I doubt the locals can afford or want to purchase these properties, they all want to come and live in the UK!
i.e. the speculators are creating their own market, I doubt the locals can afford or want to purchase these properties, they all want to come and live in the UK!
James, you have hit the nail on the head. Property needs to have a resale or rental market, regardless of location. Bulgaria may well be a very promising emerging market but resale to Bulgarian nationals will be difficult based on domestic income levels, and rental markets are unproven as the majority of facilities will be under construction for the next 5 years.
When looking overseas good internal growth is massively important, as this could be key for resale. At the moment Cyprus is very promising for reasons that I'm not mentioning on a public forum, as well as other that I've mentioned earlier in this post.
If anyone is particularly keen on Bulgaria then please ensure you buy with a British, rather than Bulgarian developer. You may pay a premium on the sqft-age, but Bulgarian finishing standards leave much to be desired and these properties will degrade quickly and will not be considered well for comparables. I work closely with a company developing the some high spec units there at the moment, and having seen the comparables and site shots they are the only ones I would touch with a barge pole.
When looking overseas good internal growth is massively important, as this could be key for resale. At the moment Cyprus is very promising for reasons that I'm not mentioning on a public forum, as well as other that I've mentioned earlier in this post.
If anyone is particularly keen on Bulgaria then please ensure you buy with a British, rather than Bulgarian developer. You may pay a premium on the sqft-age, but Bulgarian finishing standards leave much to be desired and these properties will degrade quickly and will not be considered well for comparables. I work closely with a company developing the some high spec units there at the moment, and having seen the comparables and site shots they are the only ones I would touch with a barge pole.
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