Banned Topic Bought an apartment in "Sunny Beach, Bulgaria" 5 years ago: cut my losses?

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anyone else sell property successfully in bulgaria? if so can you share your experience of the sale ie how did you go about it. thanks in advance.
 
Hi Kkman,

Have frontline property in Nessebar which dare I say is just about sold. Bought in 2004 off plan - finished summer 2005 rented it season 2006 and season 2007 and winter 2007. A russian couple are buying. Sold for about 20% above what bought and furnished it for and take sales commision out and it is about 10% above what I purchased it for.

Angela59
 
Angela,

Obviously you would have made more and had less hassle just leaving the money in a bank, but congratulations anyway !. There cann't be many peope who have achieved a resale, based on what is posted on here & other forums, never mind at a profit.
 
Congrats Angela,
Just sent you a pm asking what agent did you use to get your property sold ?

Thanks in advance
paddrog
 
Interesting post on another Forum -- for all those who say categorically there is NO RESALE market on the Black Sea Coast.
 
humphrey, that proves nothing, it's an agent's first posting on that site. Anyone wanting a resale doesn't need to pay an agent's comission; just walk around the resorts looking at the 'for sale' signs.
 
kkman said:
just spoke to an estate agent from sunny beach today. he knows where my property is and says there would be no problem selling because of location. taking a trip accross next month to meet up. although i suppose he is an estate agent after all.....
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hi kkman, i also have a property on sunny beach front line near nessebar and would consider selling it soon i would be very interested on any info or agents you have dealt with.
 
angela59 said:
Hi Kkman,

Have frontline property in Nessebar which dare I say is just about sold. Bought in 2004 off plan - finished summer 2005 rented it season 2006 and season 2007 and winter 2007. A russian couple are buying. Sold for about 20% above what bought and furnished it for and take sales commision out and it is about 10% above what I purchased it for.

Angela59
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Hi angela

did you sell private or with an agent.
 
Congats Angela, and don't mind people who say you could have made more in the bank, their hardly a good bet at the moment!! And besides is'nt that what life is about getting out there and trying things, taking a chance, not sitting at home online waiting for the back to give you a small slice of interest thats below the level of inflation anyway?
 
angela59 said:
Hi Kkman,

Have frontline property in Nessebar which dare I say is just about sold. Bought in 2004 off plan - finished summer 2005 rented it season 2006 and season 2007 and winter 2007. A russian couple are buying. Sold for about 20% above what bought and furnished it for and take sales commision out and it is about 10% above what I purchased it for.

Angela59
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10% return over 4 years? Isn't that about 2.4% annualised and probably less than 2% once CGT is accounted for? You would have done a lot better even on deposit!
 
ClubMan said:
10% return over 4 years? Isn't that about 2.4% annualised and probably less than 2% once CGT is accounted for? You would have done a lot better even on deposit!
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Would depend on the leverage factor
 
To be honest, if i was you i would get out asap. you would earn more money in a Guaranteed account or in a 6% interest account. The market in Bulgaria has been destroyed by greedy developers and greedy property companies flogging over priced property to the average jo.
The market is incredibly over saturated and it will be near impossible to sell it to anybody in the UK or Ireland, as somebody rightly pointed out, aim towards Russia and you will have a far better chance to sell it.
The same goes for Bansko.
Look up Bulgarian agents and I'm sure you will have a far better chance to sell it.
Try www.totallyproperty.com and place an add for Bulgarian agents need to sell property, you will get a few replies.
 
So, kkman, 6 months and 115 replies later are you any closer to selling ?.
 
You know what is the biggest puzzle of all? With all the information available to buyers, especially now that the dogs in the street know that the whole guaranteed rent thing was a scam, Irish people are still buying this garbage. One born every minute!
 
Re: bought an apartment in sunny beach bulgaria 5 years ago: cut my losses?

excuse my ignorance but what is sbp
 
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