36k would just about buy you a new mobile home on a 4 star site in France.
It will depreciate over time and each year pitch fees have to be paid just as you have management charges in Bulgaria.
I say hold onto it front line at that money.
The developer I would say probably has Russian interest in the property or complex.
In 5 years time 36k will seem very small money and in the meantime you can make use of it
yourself and for family as well as generating some rental.
Legal fees do sound very high.
36k would just about buy you a new mobile home on a 4 star site in France.
It will depreciate over time and each year pitch fees have to be paid just as you have management charges in Bulgaria.
I say hold onto it front line at that money.
The developer I would say probably has Russian interest in the property or complex.
In 5 years time 36k will seem very small money and in the meantime you can make use of it
yourself and for family as well as generating some rental.
Legal fees do sound very high.
Whats your basis for this statement, have you lived or worked in Bulgaria to be able to make such statements of your experience? or are you just repeating what you have heard.I know Wexford would have seen many cash deals but I dont think they have the mafia problems of Bulgaria.. maybe it's you that got the bargain tomkat
Whats your basis for this statement, have you lived or worked in Bulgaria to be able to make such statements of your experience? or are you just repeating what you have heard.
Since 1995, Transparency International has published an annual Corruption Perceptions Index (CPI)[1] ordering the countries of the world according to "the degree to which corruption is perceived to exist among public officials and politicians".
Quote:
Since 1995, Transparency International has published an annual Corruption Perceptions Index (CPI)[1] ordering the countries of the world according to "the degree to which corruption is perceived to exist among public officials and politicians".
Ireland No 17
Bulgaria No 64
So? How are historic corruption rates, say in the 1980s?, in any way relevant to the OP's query?Just as well the Index didn't go back any further then, I think those figures would change a bit then.
i agree...the price of air travel to these places is going to rise hugely in the next few years.....take his arm at the shoulder!Take hand arm and shoulder off the developer.€
Well the EU has just reported today that it wants a billion of aid back from Bulgaria, precisely because of the issues of corruption and organised crime in agriculture and (road) construction. It doesn't specifically mention domestic property, but that is just splitting hairs in my book. Expecially if there's large amounts of foreign money involved.....I'd caution against paying any heed to the so-called 'mafia' issue. The presence of corruption in any CEE country does NOT indicate the involvement of organised crime. Very often it's a case of underpaid individuals seeking to 'plump-up' their meagre salaries through 'expediting' various processes through what can be a tortuous legal process. I'm sure I'll be slated for saying so but often a certain level of corruption can often work to ones advantage in these countries when involved in certain transactions, i.e. it would take an inordinately long time to accomplish the most simple of tasks if you followed all the bureacratic channels.
I live in the region and I'm unaware of mafia-related involvement in residential property sales to locals or foreigners in the county where I'm resident, Romania, nor in Hungary or Bulgaria. People who hold forth (Ceatharlach?) about the mafia in CEE countries probably haven't spent any time in those particular countries (Republic of Moldova and the Ukraine aside where it IS an issue). Indeed I'm surprised to see Budapest, given his long-standing residency, raise it as an issue in Hungary! I'd say that the city of Budapest is probably a lot safer than Dublin from a personal safety point of view at the very least!
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Bulgaria, whilst underdeveloped in comparisson to it's near neighbours will come good in time and hence is probably very well worth a punt of a meagre 36k if you can afford to hang in their for the next 5 years.
Best of luck with it!