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✎ EN Are you concerned to invest in Bulgaria?

Discussion in 'Bulgaria' started by sinders, Nov 2, 2005.

  1. sinders

    sinders New Member

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    City:
    London UK/Bulgaria
    Hi

    Having browsed other forums, I have noticed the concerns that people seem to have in relation to the purchase of properties in Bulgaria. I shared the same concerns when I was looking to buy properties in this country. Initially, I was wary as to who to trust and wondered whether estate agents in Bulgaria were ripping foreigners off.

    I also felt uneasy about the valuations of real estate properties and that they were over valued. These, as well as many other worries made me hesitant about investing my money in Bulgaria property. My main consideration was as to whether or not Bulgaria was the right country in which to invest my money. I mean, after all, there are so many other countries from which one can now choose.

    Fortunately, because of the type of work I do I had some time on my hands, so I decided to fly out to Bulgaria and research the real estate market. I didn’t just want to trust everything I read on the Internet, especially as the majority of sites advertising properties were run by estate agents. After all, they are in the business of selling properties and can make any property look appealing on web pages.

    Hence, I wanted to carry out my own market research to avoid being ripped off by some unscrupulous estate agent. I soon discovered that in terms of value for money of the properties and the Country’s low cost of living, along with the possibility of Bulgaria being part of the European Union in 2007, I had made the right decision to invest in Bulgaria, as opposed to other countries.

    As tourism in the country is continually expanding, Bulgarian citizens are becoming wealthier, mortgages are opening up the real estate market, and soon, when Bulgaria joins the European Union, funds will be available for infrastructure investment. With all this activity in the market place, real estate values will continue to increase year on year but at a slower rate then before.

    Having decided that investment in Bulgarian property is for me, the current problem most buyers face is which agent to use, as there seems to be so many of them popping up everywhere. Anyone can be a part of the real estate game in Bulgaria, as there is no real training or legal requirements to set up an estate agency practice as in the UK. One just needs to open an Internet site, partner with a Bulgarian estate agent, and bingo you’re in business.


    The best advice I can give is to locate a UK agent that specialises in the area you intend to invest. I have my favourites because I have good reports from visitors to my site. Just be careful who you trust. Ask basic questions as to how long they have been in business? Can they provide details of satisfied customers? Are they part of any estate agency industry regulation?

    Finally don’t put all your eggs in one basket – spread your investment risks over other countries too. For example, I am looking into buying in Turkey and Thailand. Cyprus is also a good market to invest. I have heard that Morocco is an up and coming market too.

    However, at the moment my money is in Bulgaria as I feel this is the number one country for property investment and capital growth.

    Best of luck with your property investment goals

    Surrinder Ahitan
     
  2. Jain Goodall

    Jain Goodall New Member

    Joined:
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    City:
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    My husband and I moved here to Bulgaria (after 10 years as expats in France) and noticed that it is very difficult for people to get proper information about buying, investing and living in Bulgaria.

    From our own experiences and those of hundreds of others we are publishing a monthly magazine to help english speaking people understand the country, its quirks, and how best to buy and live here. We are not linked to any estate agency (unlike most others), nor any builder, solicitor, constructor or indeed any other entity - we are totally independent - which makes our editorial and information particularly of value and interest to those who are considering Bulgaria.

    If you are unsure about anything you are being told, what you are reading on those forums, concerned that you are not getting the best deal or advice - then Quest Bulgaria has been specially designed for you

    It is now the most widely read independent magazine about Bulgaria and Bulgarian property, being the only printed information source combined with professional on-line advice to our subscribers (comprising a panel of impartial practicing lawyers, bankers, accountants, financial advisors, real estate experts, travel agencies, etc).

    We are here to help you, please do get in touch with us and ask for your free copy of the magazine so that you can try before you subscribe.

    All best wishes, health and happiness for 2006
    Jain Goodall
    Quest Bulgaria Magazine
     
  3. sensation

    sensation New Member

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  4. sandyman

    sandyman New Member

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    Last summer I bought a house in Kalimanci village through an estate agent called HouseBulgaria. They helped me from our first contact and guided me through the whole buying process - from the choice of the house from their large data base, viewing trips, notary deals, setting up a company etc. The team is very friendly and we did become friends. If anyone needs information about buying in Bulgaria I am ready to help.
     
  5. 0

    0 Guest

    thanks for these information
     
  6. thetravelbug.org

    Joined:
    Apr 16, 2010
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    Gender:
    Female
    City:
    Bozel
    Living In:
    France
    Nationality:
    British (GB)
    Languages:
    English, little Bulgarian
    I have to concur with many of the comments posted here. It can be extremely difficult to find a honest, trustworthy agent in bulgaria and same goes for builders and workmen. I have chronicled all my experiences at http://www.thetravelbug.org
     

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