Bulgaria or Spain, which is the better Investment?

Would'nt go so far as to say that I have nothing to worry about especially reading some of the comments posted.
The rising trend is very welcome by me a purchaser in Bulgaria 2 years ago.

If I had been in investor in Ireland 2 years ago which I contemplated I would
have concerns also. I have been told that the investor has disappeared here. I hope for a satisfactory outcome with my apartment and have a minimum 5 year timeframe in mind. I have already received a on eyear guaranteed rental and have signed a contract for a further 3 years so I am happy enough with that for now.
 
Andrew.G said:
After reading various posts on this website I have read people saying that there was still money to be made in both Bulgaria and Spain. Do you think there are many similiraties between the two markets such over developed resorts, undeveloped rural areas and an over estimation of potential demand.

After researching both markets I believe that an investment would be far more profitable elsewhere in Europe where the markets aren't saturated or suffering from over supply.

Andrew
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I quote Auto: "For a start, if you are considering either Bulgaria or Spain, you should not be thinking of serious investment but more of a holiday home for your own use. Having said that, Spain wins on several counts"

He is absolutley right. What many people loose site of is that "investment" is about putting money into something and then getting money out.
 
Today's news is more about the share price of a few of the very big developers in Spain than it is about the property market there. It has affected the stock market in Ireland in the same way as it has in Spain.

The fundamentals in Spain are strong. It is the favoured market for all of northern Europe for the leisure property market, and the locals also like to own a home on the coast. If prices dip because of panic selling, it is worth considering investing in any such discounted properties.

Getting back to the orginal post, the issue in Bulgaria of high volumes sold at multiples of local market rates, plus an expectation by buyers that "rents" will continue to pay mortgages, does not exist in Spain.
 
IMO there is no value in Bulgaria, Spain or Ireland - all for different reasons.Bulgaria - Social inequality, low wages, too many rogue sellers and profiteering by all.Spain - Has had it's day. Massive booming economy has grown too quick and again some profiteering, gambling by investors.Ireland - What a joke. Prices in Dublin higher than all capital cities in Europe with possible exception of London. Carpenters and other tradesmen earning more money than stock brokers. 07 BMW jeeps being driven by painters. Landowners becoming instant billionaires. Small mediocre semi-detached houses going €700k. The fundamentals dont stand up in any of these countries. Any one involved is guilty of gambling and hope. In Ireland all you can hope is that the crash is not too severe. I have experience of the crash of property in the UK in 1990. My property was worth 60% of the mortgage 6 months after I bought the apartment. Interest Rate went up to 18% at one stage. Luckily I was not too stretched and could keep up repayments with the aid of rent a room tenants.
 
simplyjoe said:
IMO there is no value in Bulgaria, Spain or Ireland - all for different reasons.Bulgaria - Social inequality, low wages, too many rogue sellers and profiteering by all.Spain - Has had it's day. Massive booming economy has grown too quick and again some profiteering, gambling by investors.Ireland - What a joke. Prices in Dublin higher than all capital cities in Europe with possible exception of London. Carpenters and other tradesmen earning more money than stock brokers. 07 BMW jeeps being driven by painters. Landowners becoming instant billionaires. Small mediocre semi-detached houses going €700k. The fundamentals dont stand up in any of these countries. Any one involved is guilty of gambling and hope. In Ireland all you can hope is that the crash is not too severe. I have experience of the crash of property in the UK in 1990. My property was worth 60% of the mortgage 6 months after I bought the apartment. Interest Rate went up to 18% at one stage. Luckily I was not too stretched and could keep up repayments with the aid of rent a room tenants.
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Oh Oh!!
 
Hi,

To answer your question - I'll ask you one - is it purely investment or do you intend to use it for yourself? I have a place I rent in bulgaria and it rents in summer and in winter - it is frontline and very good location - how and ever resale value at present would not be much more than I bought it for 4 years ago - I'd have to wait a good few years to make serious money back but is very rentable. Spain is for personal use - don't rent it out but have enquired about renting it out and no problem there for long term letting for a 2 bed apartment in upmarket urbanisation overlooking pool, 5 mins to beach in car you would get approximately E550 per month in rent plus bills - this would cover about a quarter of mortgage - I have apartment 3 years. There is good value to be had at the moment in Spain particularly with a lot of british people leaving there is a lot of distressed sales. Personally I'm biased towards spain but that's only because I use it for personal use - if your investment is for the long haul I would go for spain. Again location is a big factor - the area I'm in is 45 mins to alicante airport and 25 mins to murcia and in a couple of years the new international airport corvera will be finished - so location is everything - people like convenience when on holidays. Bulgaria if you're location is good on the coastline - spain is very established and season is alot longer but the property market like in ireland is on a nosedive.
 
A relation of mine bought 3 apartments in Spain off plans 2 years ago with the hope of selling before completion and making a nice little killing for himself like I believe many did before. He tried to get me involved but tbh i didn't believe in the scheme. Anyway the apartments are now complete but he cannot sell them and what is worse the banks won't take 2 of them back. He is now offering them for almost half of what he paid for them, I am tempted but I know I would not be getting any rent for it and would only use them for personal use, there must be any amount of apartments like this in Spain with people desparate to sell aat any price but is it still worth it?
 
Hi Patmac,

If you can see the wood for the trees and not just in the present term - I would go for spain even if it is only for personal use but I would always go for location, location, location. No point in buying an apartment where there are acres of similar boaring type out in the middle of nowhere - I don't know if these have a resale value. I wouldn't buy for the sake that it is cheap, research your market i.e near airport, near to beach, shops restaurants - I wouldn't go for the golf as there are hundreds of these and they can be like a ghost town on summer and busier in the winter. If you are buying for lifestyle - then suit your lifestyle and your pocket - there are thousands of lovely second hand villas and houses - particularly amongst the british community. I must say I find the costa blanca very cheap for grocery shopping, eating out and running a car.
 
I would not go neither for Bulgaria nor Spain. But if I have to choose between these two (especially if the investment will be also used for personal use), I would go for Spain. Very simple reason: in Bulgarian resorts prices are inflated for foreigners ascurrently only foreigners buy there. In fact only foreigners bought at outrageously high prices few years ago. These were not the real prices.

Do your homework and research the market well. Bulgaria is riskier than it seems and there are very few really good investment oportunities. These are not on the coast, nor in the prestigeous areas of capital and big cities, as these apartments just do not rent. Also, be careful when you choose your agent and doublecheck everything they say about the market.
 
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