Bulgaria good or bad?

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celticsteven

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i am thinking about that apartment i metioned in a previous thread can anyone advise me on the company buyinbulgaria.com has any body bought with them and any advise from people who have bought in bulgaria in particular sunny beach. the apartment is 1 bed frontline with sea views 5th floor unfurnished ready december 2006 price 47000euro?????
 
Re: bulgaria good or bad??

Looks very reasonable for front line sea view if all is in order.

What size is it ?

Is the price inclusive of 20% VAT ?

Is the builder reputable ?

Surely your not getting a guaranteed rental offer as well in that price ?

I thought it not possible to get a bed (presume not a studio) front line with a sea view on Sunny Beach for 47k.



I know of someone who bought with them and thought them o.k to deal with but then again another person might have a different story.
 
Re: bulgaria good or bad??

That looks like a very good deal....was lookin at Trakia Garden meself but prices bit more expensive than that...anyone bought there...??
 
Re: bulgaria good or bad??

I personally wouldn't buy in Sunny Beach as it's way over developed already. Ask buyinbulgaria about the site in the centre of Balchik. Much nicer spot and close to the 3 international golf courses being built.
 
Re: bulgaria good or bad??

icleary said:
I personally wouldn't buy in Sunny Beach as it's way over developed already. Ask buyinbulgaria about the site in the centre of Balchik. Much nicer spot and close to the 3 international golf courses being built.
Click to expand...

Can you define overdeveloped please?
 
thanks for replys the price is inclusive of vat, there is no guranteed rental but it says management company in place at completion of development can organise rental this is not a big thing for me as im looking more long term i.e 5-8years investment and wouldn't mind keeping it for personal use and family maintence per annum is roughly 450euro its 30 meters from the beach in south sunny beach 10 minutes from nessabar and 10 minutes from aqualand.it comes completly decorated unfurnished, but has hot and cold air conditioning and a fitted kitchen. they have a company in place for all furnishning needs that works out at about 4000euro for everything down to the cutlery.The complete price works out at about 53000euro thats everything notary fees solicitors and buyinbulgaria.com fee and furnished.I think it could be a good investment and if i hold it for 5 years i will not be caught for cgt. as for trakiea garden its way overpriced compared to everything i have looked at in the last 6 months.
 
overdeveloped to me is when the number of accomodation spaces is increasing by far greater a number than the increase in tourism with no real chance in the next 5 years of levelling out. If you go to Sunny Beach walk along and view in the windows of the apartments on the ground floor you will find lots of unfurnished apartments. There are thousands of unoccupied apartments in Sunny Beach every summer. There has been very little growth (if any) in property prices in Sunny Beach for the last couple of years. Why aren't they more expensive now than a couple of years ago? In a couple of years you will still be able to buy a 1 bed apartment for 45 to 50,000.
 
Trakia Gardens - yes, way over priced. Platinuum are selling it, need I say more...

If you're 30 metres from the beach on the south end of sunny beach you're probably along the main road that runs through sunny beach. I know a couple who bought there and said it was very noisy at night time.

This may not be the case but I would strongly advise you to go to Sunny Beach and have a look around. The southern end is not the worst end as you are in walking distance to nessebar and nessebar is a nice spot (protected area that can't be over built).
 
53k is a very good price all in and if your thinking Sunny Beach and 5-8 year investment you should definitely go there and have a look at the development in question. I'm still amazed at the price is inclusive of 20% VAT.

I presume as posted already the apartment is very close to the main road
and would be noisy.

I see Platinum are charging quite a deal more for 1 beds in Trakia Garden and Central Plaza and these are 300 and 500 metrers back from the beach.

Having said that they are very centrally located and Central Plaza in particular is very nicely situated but you would be paying up to 30k more for a 1 bed there with a 2 year guaranteed rental of 4.5%.
 
If you are thinking of buying there, please go there first...I did and quickly dumped that decision..
 
i think a viewing trip is a must by the reviews here doberden you seem to have a pretty bleak outlook for bulgaria or sunny beach in general i understand overdevolopment classic example is costa del sol at the time before the boom there it is pretty much them same in bulgaria
 
Honestly think its the best investment opportunity in the Bourgas area - not too knowledgeable about the varna region. Its fairly expensive but then again you get what you pay for. I got one in block C..
 
Don't forget about your liability to Irish Revenue.

Is there a Double Taxation Agreement with Bulgaria? Does it cover Rental Income and CGT? If not you are liable to pay tax in both counties.
What about inheritance?
Get all documents translated but beware that if there is a variance between the contract in Burgarian and the translation then the contract in Burgarian will win out.
 
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