Buying in Ukraine

S

sunrock

Guest
Re: Why Bulgaria?

Investing in rural bulgaria is good if one would like a rural house and garden and like living in the countryside.....the thing is these type of properties are very cheap...maybe 20k or even 10k ,so it is the only option for someone,esp. elderly, of limited means to live this lifestyle.
The thing about property appreciation is irrelevant for these people as they will see out their days there.The main thing is that it`s a buyers market and they should go and live in the area before making a very low bid on their choice.
Just wonder is it possible to buy property in the ukraine...a very big country with a beautiful capital.kiev or maybe some big pitfalls?
 
Re: Why Bulgaria?

sunrock said:
Just wonder is it possible to buy property in the ukraine...a very big country with a beautiful capital.kiev or maybe some big pitfalls?
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We have bought property in the Ukraine.
We had to set up a company and get Social Security numbers but when it came to buying the properties we were able to do it in our own names and did not need the company.
It was an experiment and we bought 2 appartments. We have since sold one but the profit was diluted by the fact that they deal in US dollars and we bought at 1.24 and it is now at 1.32.
We closed the sale in Feb and just got in before the change in leglistation that it not very tax efficient to sell property. It looks as if we will have to keep the other one long term because it is not as easy to get out now. Had no problem bringing the money back. Just a straight wire transfer.
 
Re: Why Bulgaria?

Ukraine -- should really be a separate post, but since interest is probably limited here's a quick comment.

One middle sized player in foreign property in Ireland tried to market an apartment block in Kiev about 3 years ago, spent a lot of money advertising it but pretty much drew a blank on sales as far as I recall. This was during the peak of the Hungarian market in Ireland, when the agency felt they could sell anything in this market. The Ukraine proved a bridge too far!

The main thing that sticks in most people's minds about Kiev was the newsreels of the fallout being washed from the rooftops following the Chernoble accident -- not the best of images. Added to the problems that beset all the Russian satellite states, the general lack of prospects in the medium term and an unfriendly tax regime for foreign buyers, the Ukraine is unliley to feature in the top ten of best investment sites just yet.

Having said that, places like Kiev can yield dividends, particularly in the commercial area, but then you have to contend with all sorts of parasites who want a slice of your action and who don't take "no" for an answer. Probably best avoided unless you have well-trusted local partners.
 
Yeah...though as much...various local "officials" want their cut. Still it is a very big country.Of course the weather is very cold in the winter but apparently not as cold in recent years.
Thinking about lifestyle property for personal use during our winter,surely it is best to go to a warm sunny spot.THE CRITERIA ARE WARM SUNSHINE, cheap prices,friendly people,and not so much crime and no problem with visas or work etcMAYBE SOMEWHERE LIKE COSTA RICA or somewhere in south america.
 
Be careful in relation to title. In the resort areas, like the Crimea, there is a big move on by Tatars to reclaim lands stripped under Stalin. Families there were sent to Siberia or killed off and own most of the best spots. A German company were selling in the area west of Odessa but dropped it afer a number of court cases came to light.
 
As I have said we have bought twice and sold once in Kiev and no local "officials" have as much as said boo to us.
The only time that we have encountered anything like that (in any country) is in new developements where you want planning and the architect has to take care of the locals and builds it in to the fee.
The question does not crop up anywhere if you are buying a property that is already built.
Regarding Costa Rica. You can not just go to CR and get work and not need a visa
 

My original reference was to the purchase of commercial property, which I reckon to be the only area that shows potential for profit in Kiev. In the case of commercial, you may find that you attract the attention of what I called local parasites, not necessarily officials!
 
Auto or Woods,

Have either of you any experience in Lviv? I'd be interested to here if you have because I've not visited yet, but am just looking at it at the moment because of its architectural quality and history.

Thanks,

Geordie
 
geordie said:
Auto or Woods,

Have either of you any experience in Lviv? I'd be interested to here if you have because I've not visited yet, but am just looking at it at the moment because of its architectural quality and history.

Thanks,

Geordie
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Not here. We make it a point to stick to Capital Cities.
 
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