Bulgaria

[Ancutza]

I don't agree with alot of what auto320 has said but some of it,at least, seems like sound advice particularly about Bulgaria and, latterly, about Budapest.

Don't buy in Bulgaria and have a more indepth look at Budapest especially after the recent unrest. You should be able to bargain hard there now and get decent returns on property previously out of your reach!

 

[auto320]

Auto320, you seem to have a negative view on the whole of Bulgaria but only support your views based on conditions in Sunny Beach. Would you like to give an opinion on investments in Sofia - where obviously rents would be year round and not the same levels of oversupply?

I have already said on previous posts that the worst problem is the "guaranteed rental" scam on the coast and in the ski areas, and I have also said in the past that some oportunities exist in Sofia, but that you have to be very selective.

I have looked at Sofia a couple of times in the past two years, but although I could see long-term possibility of appreciation in some areas I was not too impressed with the medium term potential. In particular, rental potential on residential is weak or non-existent, and the commercial area has too many dodgy characters mixed up in it to allow me to feel comfortable with it.

As for oversupply, there is currently quite an amount of empty residential and commercial new-built property in Sofia, but the developers are not pricing it realistically to move it on.

You are right in one thing though -- if people insist in investing in the dodgiest market in Europe, they should stay away from the coast and ski areas and look to Sofia, but look with extreme caution. The reality as I see it however is that the majority of small "investors" take their advice from sales people and leave their brains outside the door. That's how it always was, and how it will remain, no matter what I or other considered commentators say.

 

[G123]

Missed the TV3 Programme tonight about 'Paddys investing in Foreign Property' (sic). Personally I've gotten punch-drunk on reading about foreign property investment as a get-rich-quick procedure. Have the TV makers come to the market too late?

 

[jellyshots]

Missed the TV3 Programme tonight about 'Paddys investing in Foreign Property' (sic). Personally I've gotten punch-drunk on reading about foreign property investment as a get-rich-quick procedure. Have the TV makers come to the market too late?

You missed nothing. TV program???? I thought it was a half hour property advert.

 

[almo]

It is a property advert, if you check their site they are covering only 4 countries and its the usual suspects involved. it's a good idea, but I don't know how much it'll work for Ireland, plus it's expensive to get involved with. Only Portugal, Spain, Turkey and Bulgaria are covered so far.