Buying property abroad... who's dunnit?
Discussion
When the big '08 hits I'm planning on buying abroad... I've been pointed at Bulgaria over and over but I've also heard some stories of over development, especially in the ski spots like Bansko.. Lithunia, Montenegro are supposed to look good...
Has anyone here bought abroad / if so, where? / had a good or bad experience?
Has anyone here bought abroad / if so, where? / had a good or bad experience?
an report in last weeks Metro paper said Bulgaria was the country with predicted highest price inflation
Then Spain, Portugal, Romania, France, Florida, Croatia, Dubai, Italy, German
You may still be able to read it on their web site www.metro.co.uk
Then Spain, Portugal, Romania, France, Florida, Croatia, Dubai, Italy, German
You may still be able to read it on their web site www.metro.co.uk
I have a house in France, but more as a project than investment.
I visit Kiev a few times each year and that could be good for a slightly risky, but potentially high return, investment. I gather apartments close to the city centre are increasing 80 - 100% per year, but would be worried about the political system and those who work outside it!
I visit Kiev a few times each year and that could be good for a slightly risky, but potentially high return, investment. I gather apartments close to the city centre are increasing 80 - 100% per year, but would be worried about the political system and those who work outside it!
I bought a villa in Spain in 1998, Costa Blanca, £80k at the time and spent about £20k on extension and improvements. I found it best to go to the intended area and use a local agent and solicitor. All these sales promotions in the UK are agents sticking a premium on top and ripping people off. My place is currently worth about £275/300k, I gave up on the renting out after the first year, it's not worth the wear and tear or hassle, we now have wardrobes full of clothes there, fly out with hand luggage only and it's home from home as soon as we walk in 
softtop said:
What do you want it for? Use it or get yourself an investment?
Investment. I am looking at Bulgaria mostly.The thing with Florida is that it is attractive in that; what you can get for the money is great and the $ is weak BUT the market is supposed to be saturated beyond belief. I think it would be good to buy in Florida for personal use because you could have yourself a 4 bed house with private pool and garage for £150,000 - but for investment I think it's a no go / from what I hear.
With America, New York City is supposed to be the only hotspot to be going up despite national decline. I was looking at places just outside Manhattan, like Bronx, Queens etc.. can get pretty nasty places there for cheap that are likely to go up BUT the areas aren't the best.
Bulgaria looks good except I've heard some horror stories so would be good to hear off anyone first hand.
Robin Hood said:
I bought a villa in Spain in 1998, Costa Blanca, £80k at the time and spent about £20k on extension and improvements. I found it best to go to the intended area and use a local agent and solicitor. All these sales promotions in the UK are agents sticking a premium on top and ripping people off. My place is currently worth about £275/300k, I gave up on the renting out after the first year, it's not worth the wear and tear or hassle, we now have wardrobes full of clothes there, fly out with hand luggage only and it's home from home as soon as we walk in
That sounds ideal! Costa Blanca, nice!LDNrevs said:
Robin Hood said:
I bought a villa in Spain in 1998, Costa Blanca, £80k at the time and spent about £20k on extension and improvements. I found it best to go to the intended area and use a local agent and solicitor. All these sales promotions in the UK are agents sticking a premium on top and ripping people off. My place is currently worth about £275/300k, I gave up on the renting out after the first year, it's not worth the wear and tear or hassle, we now have wardrobes full of clothes there, fly out with hand luggage only and it's home from home as soon as we walk in
That sounds ideal! Costa Blanca, nice!
Robin Hood said:
LDNrevs said:
Robin Hood said:
I bought a villa in Spain in 1998, Costa Blanca, £80k at the time and spent about £20k on extension and improvements. I found it best to go to the intended area and use a local agent and solicitor. All these sales promotions in the UK are agents sticking a premium on top and ripping people off. My place is currently worth about £275/300k, I gave up on the renting out after the first year, it's not worth the wear and tear or hassle, we now have wardrobes full of clothes there, fly out with hand luggage only and it's home from home as soon as we walk in
That sounds ideal! Costa Blanca, nice!I have been down this road several times
The Spanish market is in a bad way so if you like it there you can pick up a bargain. The most important thing is to be very choosy about the developer and development because there are some very badly designed/built properties there. I still have a house in the Costa Blanca, and apparantly this is the only development that has still risen in value recently. I can hook you up with someone sensible if you are interested in that part of the world.
I think that the emerging markets such as Bulgaria etc are for the very brave. I know of several people that have lost a lot of money there.
I recommend contacting www.myperfectplot.com (friend of mine)who will be able to help.
PM me if you need any help from me
Good luck with it, it should be the best thing you ever did if choose wisely
The Spanish market is in a bad way so if you like it there you can pick up a bargain. The most important thing is to be very choosy about the developer and development because there are some very badly designed/built properties there. I still have a house in the Costa Blanca, and apparantly this is the only development that has still risen in value recently. I can hook you up with someone sensible if you are interested in that part of the world.
I think that the emerging markets such as Bulgaria etc are for the very brave. I know of several people that have lost a lot of money there.
I recommend contacting www.myperfectplot.com (friend of mine)who will be able to help.
PM me if you need any help from me
Good luck with it, it should be the best thing you ever did if choose wisely
TDIPLC said:
I have been down this road several times
The Spanish market is in a bad way so if you like it there you can pick up a bargain. The most important thing is to be very choosy about the developer and development because there are some very badly designed/built properties there. I still have a house in the Costa Blanca, and apparantly this is the only development that has still risen in value recently. I can hook you up with someone sensible if you are interested in that part of the world.
I think that the emerging markets such as Bulgaria etc are for the very brave. I know of several people that have lost a lot of money there.
I recommend contacting www.myperfectplot.com (friend of mine)who will be able to help.
PM me if you need any help from me
Good luck with it, it should be the best thing you ever did if choose wisely
Thanks for that. I will check out what you've said.. if there's bargains to be had in Spain then I am certainly interested.The Spanish market is in a bad way so if you like it there you can pick up a bargain. The most important thing is to be very choosy about the developer and development because there are some very badly designed/built properties there. I still have a house in the Costa Blanca, and apparantly this is the only development that has still risen in value recently. I can hook you up with someone sensible if you are interested in that part of the world.
I think that the emerging markets such as Bulgaria etc are for the very brave. I know of several people that have lost a lot of money there.
I recommend contacting www.myperfectplot.com (friend of mine)who will be able to help.
PM me if you need any help from me
Good luck with it, it should be the best thing you ever did if choose wisely
TDIPLC said:
I recommend contacting www.myperfectplot.com (friend of mine)who will be able to help.
AGH the site doesn't work for me.. 
If you are serious about buying abroad, I use www.foreignpropertybuyer.com - they are very good for country specific guides and latest news. From a quick search on there I can see a number of relevant articles for Bulgaria:
A Guide to Property in Bulgaria
Snow Lovers flock to Bulgaria
Bulgaria Prices continue to rise
Sofia - the Cheapest European Capital City
A Guide to Property in Bulgaria
Snow Lovers flock to Bulgaria
Bulgaria Prices continue to rise
Sofia - the Cheapest European Capital City
Aranell said:
If you are serious about buying abroad, I use www.foreignpropertybuyer.com - they are very good for country specific guides and latest news. From a quick search on there I can see a number of relevant articles for Bulgaria:
A Guide to Property in Bulgaria
Snow Lovers flock to Bulgaria
Bulgaria Prices continue to rise
Sofia - the Cheapest European Capital City
Great site. ThanksA Guide to Property in Bulgaria
Snow Lovers flock to Bulgaria
Bulgaria Prices continue to rise
Sofia - the Cheapest European Capital City
Be very warey of Bulgaria.
My father has been involved with the tourism ministries of various countries in the region and his recommendation to me was that I should be extremely warey of Bulgaria.
The greatest problem they have is that there has been a large infiltration of (mostly Russian) mob money leading to a blight in tourist areas of dodgey bars and massage parlours, where affections are also negotiable.
The net result of this in the long term will be the tourist market starting to turn its back on the place as a family destination.
You should also be warey that there is one hell of a lot of development already happened and more underway in the country.
Once upon a time property purchase and development could be done in Bulgaria on credit card budgets. Now its not so easy.
My father has been involved with the tourism ministries of various countries in the region and his recommendation to me was that I should be extremely warey of Bulgaria.
The greatest problem they have is that there has been a large infiltration of (mostly Russian) mob money leading to a blight in tourist areas of dodgey bars and massage parlours, where affections are also negotiable.
The net result of this in the long term will be the tourist market starting to turn its back on the place as a family destination.
You should also be warey that there is one hell of a lot of development already happened and more underway in the country.
Once upon a time property purchase and development could be done in Bulgaria on credit card budgets. Now its not so easy.
I spend alot of time in Bulgaria, i know allot of builders and investors, and yes you do have to be careful however, you should be where ever you go.
Look at the capital Sofia, the capital growth is good the are hundreds of big business investments. The new airport terminal has boosted things further. Our flat has gone up dramatically in value, Sking is close, but the coast isnt. (though you can fly there or drive) Greece is quite close aswell.
Depending opn budgets look to the Vitousha region, its on the mountain allongside sofia and is a high society residential area.
I think Sofia offers a more secure long term investment.
Hope that helps
Dave
Look at the capital Sofia, the capital growth is good the are hundreds of big business investments. The new airport terminal has boosted things further. Our flat has gone up dramatically in value, Sking is close, but the coast isnt. (though you can fly there or drive) Greece is quite close aswell.
Depending opn budgets look to the Vitousha region, its on the mountain allongside sofia and is a high society residential area.
I think Sofia offers a more secure long term investment.
Hope that helps
Dave
Dave B S3 said:
I spend alot of time in Bulgaria, i know allot of builders and investors, and yes you do have to be careful however, you should be where ever you go.
Look at the capital Sofia, the capital growth is good the are hundreds of big business investments. The new airport terminal has boosted things further. Our flat has gone up dramatically in value, Sking is close, but the coast isnt. (though you can fly there or drive) Greece is quite close aswell.
Depending opn budgets look to the Vitousha region, its on the mountain allongside sofia and is a high society residential area.
I think Sofia offers a more secure long term investment.
Hope that helps
Dave
Interesting. Would you say Sofia is a safer bet than one of the ski spots??Look at the capital Sofia, the capital growth is good the are hundreds of big business investments. The new airport terminal has boosted things further. Our flat has gone up dramatically in value, Sking is close, but the coast isnt. (though you can fly there or drive) Greece is quite close aswell.
Depending opn budgets look to the Vitousha region, its on the mountain allongside sofia and is a high society residential area.
I think Sofia offers a more secure long term investment.
Hope that helps
Dave
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