Sunday Times Property-Bulgaria warning

A must read for anyone considering investing in Bulgarian property

http://www.timesonline.co.uk/article/0,,2098-2267408.html

I don't have much interest in overseas property one way or another but this article caught my eye because

(a) the amount of interest there is on AAM in Bulgarian property
(b) its amazingly negative tone, surprising given that it is in a Property section

It is interesting that this article was written for the English edition of the Times (but it does appear in the Irish edition).

Im sure if Irish media bothered investigating they'd find similar stories but who pays for all the advertising in their sunday editions and property sections? thats right the oversea's property companies.

Good hotels in Bulgaria are cheap too so there was always gonna be difficulty renting in that location with mass hotel and aprtment building. Theres also loads of more established tourist locations with good yields that should be considered before the fads and "next hot spots".

I see companies that operate in Irish market are mentioned in the article,i think its unwise for anyone on this thread to mention names of any companies like this in a negative way for legal reasons.

Only a couple of months ago in the SBP there was a well placed and paid for article about the Irish whizz kid who reinvented himself in the Bulgarian market. But on CNNi there was a report from Bulgaria on some Irish developer who was about to lose all he'd begun over some corrupt local red tapers, I can't remember the guys name, and I wouldn't like ot mention it anyway, but are they connected?

read that article in the ST and noticed about 2 pages further on a fairly large advertisement for one of the companies mentioned in the article . have to make a buck like everybody else I suppose