Back to Bulgaria

As promised, we are going to reopen the subject on the Bulgarian real estate;”to buy or not to buy a property in Bulgaria”.

In the 90s and even at the beginning of 2000, nobody really heard about Bulgaria, and if they did they heard only the bad things. I bet many of you didn’t even know which the capital of Bulgaria is.

Now days many people strongly believe  that Budapest is the capital of Romania, which by the way is Bucharest

I cannot blame them; the western mass media carefully took care of what they are advertising and what not. They kept in the shadow the ex communist countries (former enemies) until the time was right to let the average citizen know that there are money to be made in the real estate field.

Don’t worry the big real estate investment companies arrived in these countries long before the little guy found out.

So, after the big guys got they roots deep into the ex communist countries soil, the mass media started doing its job. The little guy had to buy from the big guy or else he could try his luck going “property hunting” on his own. By the way, do you speak Bulgarian? Or perhaps can you read from Bulgarian? Do you? Read this:  българия

That’s the name of the country in Bulgarian.

So let’s see how mass media contributed in influencing the average citizen to invest in Bulgaria.

This is a quote from Channel 4: “a house can be bought for the price of an average family saloon car in the UK. “ Tempting isn’t it?

Here goes another one from the same source: ““Depending on the area, you can pick up a habitable property at a bargain price of £ 20,000,” says Xavier Wiggins, managing director of newskys.com.

A little over three hours’ flying time from UK airports, Bulgaria’s mountain and beach resorts have become increasingly popular in the last few years and look set to become ever more so when, as expected, Bulgaria joins the European Union in 2007.” So the article must have been written in 2005 or 2006.

Another one (I really love this one ) ““The Bulgarian market has been performing very well recently and I thoroughly expect this to continue,” says David Cox of Property Frontiers. “I believe that the stable political environment, imminent EU membership and broad popularity of the region make it a very safe bet and one of the more secure investment opportunities in Eastern Europe.”

To date Bulgaria and Romania still have huge problems with the corruption among the parliament members.

You can find the whole article here: http://www.channel4.com/4homes/buyingabroad/countryguides/bulgaria_guide.html  , please enjoy.

Now, check out this Bulgarian real estate site that proudly displays the following text:

“As featured on ITV’s “I Want That House”, Channel 4’s “A Place in the Sun” and Real Estate TV’s “Next Big Thing Bulgaria”:  http://www.stara-planina.com/

Next, a post from Channel 4 forum; the post is from 20/04/2006

“What do you think about property investment in Bulgaria? I think it is very promising about good return. The ski resort Bansko is very attractive place to invest because the prices are still low, the quality that you get for that price is perfect but it depends on the company you are buying the property from. I want to buy a big apartment there but I will need some financing.”

One of the answers, (just a line from the whole text) :

“WORST OF ALL BULGARIA IS NO LONGER A TRUE MARKET. Thousands of people are reporting they can’t sell and they can’t let. Please read the rest here:  http://community.channel4.com/eve/forums/a/tpc/f/576602047/m/6340067644

 

Here is another joke: “The future for Bucharest and Romania in general, looks a bright one. British buyers looking for an affordable second home or an investment opportunity will have to be quick off the mark. The secret is out on one of Europe’s newest hotspots.”

And what took you so long to let us know? In the year 2000, for the average price of a London home, one could have bought about 35 apartments in Bucharest, and that applies for Sofia, Bulgaria too!!! http://www.channel4.com/4homes/buyingabroad/countryguides/cg_romania-2.html

 

I guess “overnight millionaire” is not meant for the little guy.

Man! I really enjoy this subject

 

One more:     “Over 29 per cent of the property deals concluded in Bulgaria in 2006 involved foreign participation, executive director of real estate company Asta Bridge Anton Pankev said.

 

Nearly 66.87 per cent of all foreigners who bought property in Bulgaria came from UK, he said as quoted by Bulgarian National Radio. The British interest was attributed to regular flights between Bulgaria and the UK. 

http://www.sofiaecho.com/article/over-29-of-bulgarias-property-deals-involve-foreign-investors/id_21314/catid_74

 

Hehehe! This is the best; you really have to read this. An article from a .co.uk site:

 

“The experts often compare Bulgarian property market with the Spanish one in terms of potential. What makes purchasing a property in Bulgaria so attractive for investors?”

http://findbulgariaproperty.co.uk/Home/For_Investors/Investment_opportunity/

 

I can go on forever, but I suppose I made my point

 

In my next article I will really give you facts, and I’ll also tell you a bit about those experts, and more over, I’ll let you know what the average real estate investor in Bulgaria, really thinks.