We went in a holiday to Sunny Beach in about 2008. Fantastic value half board package, about ⅔ the price of an equivalent holiday in Spain. Stayed in an absolutely beautiful hotel, splendid room with sea view, impeccably cleaned top to toe every day. Buildings were flying up all along the strip and there were ads all over the place for apartments aplenty. Prices, from memory, were around €50k upwards for a studio/1- bed. A few things struck us. The hotel was run by the local mafia and you would see top of the range mercs pulling up regularly and disgorging a very well dressed Mr Big and entourage.
The area outside the strip was desperately poor looking. Roads were appalling, houses looked very poor quality. The cars were wrecks. Even the road from the airport to the resort was dreadful.
The local population was very poor. The staff who worked in the hotel worked their butts off and were always rushing around visibly doing something. We tipped quite generously and the maid who cleaned our room was so grateful for what we gave her. She said it (€20) was more than a weeks pay! There was obviously a kickback system going on because we gave her the same the second week and she was absolutely bowled over but made a point of saying "no tell, no tell, secret, yes". It was like she had to hand over some of the first tip but could get away with keeping the second week for herself.
Anyway, back to the apartments on sale. It was quickly obvious that the cheaper ones were set well back from the beach and the quality didn't look great. A huge amount of stuff was selling off plans and there were the usual fast talking salesmen, some Irish and UK nationals. Deposits taken by credit card! Prices rising next week, month, etc. Alarm bells ringing. But FOMO too! On the one hand it was an interesting proposition. Rapidly modernising country, newly admitted to EU membership. Good value. Regular flights from Dublin. Just like Spain a few decades previously, wasn't it? And that worked out well. Tempted to invest on the basis of what could go wrong? Surely it would hold its value at least? Anyway, wiser counsel prevailed and we walked away. Thankfully!
Watching last night, brought it all back!
