Buying property in Bulgaria.....
Discussion
Didn't know what section to put this in as there doesn't seem to be 'property overseas' section.
Been looking at some property for sale overseas and just seen this property in Bulgaria -
http://www.ebay.co.uk/itm/Bulgarian-property-bulga...
Damn cheap for a 2 bed place with a bit of ground isn't it ?
Totally new to thinking about buying abroad but whats the catch ? Is it an average price ? Is the property market there dodgey like the Spanish villa horror stories where you get told to demolish it later ?
All services are cheap (might be a crap service I guess!), a little way out of a main town, but secluded village life.
Been looking at some property for sale overseas and just seen this property in Bulgaria -
http://www.ebay.co.uk/itm/Bulgarian-property-bulga...
Damn cheap for a 2 bed place with a bit of ground isn't it ?
Totally new to thinking about buying abroad but whats the catch ? Is it an average price ? Is the property market there dodgey like the Spanish villa horror stories where you get told to demolish it later ?
All services are cheap (might be a crap service I guess!), a little way out of a main town, but secluded village life.
Think very carefully about it.. I had property in Nessebar. It was cheap, low upkeep costs, reasonable occupancy but ended up with a lot of local crime issues with occupants being robbed(not in the flat just in the streets)and the factoring agent getting pressure from local heavies for additional payments.
Location, Location, Location.
I don't know Bulgaria at all, but that looks to be in the arse-end of nowhere. If you can work from home, it would be a cheap place to live. If I could do the city job I have now from a reliable internet connection there, I could build up some savings pretty quickly...
Not sure it would make much of a holiday home though...
I don't know Bulgaria at all, but that looks to be in the arse-end of nowhere. If you can work from home, it would be a cheap place to live. If I could do the city job I have now from a reliable internet connection there, I could build up some savings pretty quickly...
Not sure it would make much of a holiday home though...
MR Kirbyz said:
Have you seen this part in the advertisement?
PAY £9999 now and get the keys and you can move in, then £850/mth for next 12 months
Yes I had seen that part - buy a house on Direct Debit PAY £9999 now and get the keys and you can move in, then £850/mth for next 12 months
MR Kirbyz said:
However, to answer your question property in Bulgaria is eye-wateringly cheap and imho i think you could get a better property for less money than that
Been looking at some more sites - your right theres better stuff there (price wise anyway.God some of it is cheap - even the new flats near the black sea resorts.
Edited by SimonV8ster on Wednesday 20th July 17:46
I wasn't particulary looking at Bulgaria just came across some adverts whilst cruising Ebay properties.
Looks like a tenth of the price against an avergare price here so a lot of property for your money and living would be cheap there too.
Bulgaria looks nice with its forest and beaches, skiing places, whats wrong with it ?
Looks like a tenth of the price against an avergare price here so a lot of property for your money and living would be cheap there too.
Bulgaria looks nice with its forest and beaches, skiing places, whats wrong with it ?
My daughters just come back from Sunny Beach on a girly holiday & had a great time but apparently its quite over developed.
The son of a friend at work was there last week & on his last night he & his mate got smashed in the face & marched to a cash machine by the local hevies & had to empty his account.
Not a place I would choose to invest in no matter how cheap it is.
Nick
The son of a friend at work was there last week & on his last night he & his mate got smashed in the face & marched to a cash machine by the local hevies & had to empty his account.
Not a place I would choose to invest in no matter how cheap it is.
Nick
I would rather live here
http://en.wikipedia.org/wiki/Trellick_Tower
Than any of these hostel get raped and chopped up in the night by maniacs type places.
http://en.wikipedia.org/wiki/Trellick_Tower
Than any of these hostel get raped and chopped up in the night by maniacs type places.
The OP may have given up on the Bulgarian dream, but it's worth pointing out that had he paid the 10 grand, or even the 18,000 the vendor wanted, he would not have legally owned the property anyway. The vendor states "No Hidden Fees", but as it stands furriners cannot own land in Bulgaria. They must first form a limited company, and the company owns the property. The foreigner only owns shares in the company. The cost of forming the company is around 500 Euros, and must be done before buying any property.
There are also municipal taxes to pay on the purchase, around 3 percent of the purchase price, as well as solicitors, translators and notaries to pay for, and, with very few exceptions, the transaction has to be done in person, in Bulgaria. The reason the vendor is suggesting a two stage price, 10,000 up front and the rest later, is so they can declare the selling price as much less than the actual value, thus avoiding capital gains tax, and reducing other fees and taxes on the sale. The "tax estimation price" is the oldest scam in the book out here and is dealt with severely if discovered, prison time and forfeiture of the property!
There are also fees to pay every year for annual tax returns, and a company report to the Bulgarian Trade Registry every June, with very large fines for failure to submit these returns, and the possibility of your property being forfeit if you don't pay up.
Forget the mafia, the biggest rip-off merchants out here are Brits conning Brits.
There are also municipal taxes to pay on the purchase, around 3 percent of the purchase price, as well as solicitors, translators and notaries to pay for, and, with very few exceptions, the transaction has to be done in person, in Bulgaria. The reason the vendor is suggesting a two stage price, 10,000 up front and the rest later, is so they can declare the selling price as much less than the actual value, thus avoiding capital gains tax, and reducing other fees and taxes on the sale. The "tax estimation price" is the oldest scam in the book out here and is dealt with severely if discovered, prison time and forfeiture of the property!
There are also fees to pay every year for annual tax returns, and a company report to the Bulgarian Trade Registry every June, with very large fines for failure to submit these returns, and the possibility of your property being forfeit if you don't pay up.
Forget the mafia, the biggest rip-off merchants out here are Brits conning Brits.
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