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Back to Bulgaria 3
By property | January 25, 2008
Ok, here we go again, Bulgaria.
Everything seems to be cheap in Bulgaria, the rent, the food, and of course the properties.
Many properties on sale are so cheap, that one may ask how it is possible and why a property should be on sale for such a ridiculous price.
Thousands of properties are on sale, and I’m not talking about the new residential developments, I’m talking about people’s houses; houses they used to live in until the “foreigners invasion”.
When I say ridiculous prices I really mean that. With what I paid for my new Opel Corsa, I could have bought instead, 2 houses with a lot of land, in Bulgaria.
I’m not kidding.
Bulgaria is not richer or poorer than Romania. They are at about the same level, but for the price of a house in Bulgaria you cannot even buy the fence of a house in Romania.
Why? The answer is very simple: because people are not selling their houses the way the Bulgarians do. The quality of the rural houses in Bulgaria is very low, and In Romania such houses are simply not for sale, because nobody wants them, except the owners who built them to live in them.
However, because the mass media made a second Spain out of Bulgaria, many collapsing houses are on sale, and as a bonus you get a lot of deserted land too;it still looks tempting for a foreigner who wants to start a new life with little money.
As long as he chooses to live in a house and in a place from where the Bulgarians are selling out and running away, it’s OK.
It really amazes me what a strong impact can have an aggressive marketing.
The Bulgarians and Romanians are migrating in numbers to the Western countries, and many Westerners decided to start a new life in an ex communist country, which was among the last to join the EU, for very well known reasons.
Everybody seems to have forgotten the Cold War, our neighbors the Russians and that sooner or later the history is repeating.
I would not be surprised if after another aggressive marketing, people will start to invest in Iraq and Lebanon 
If you didn’t know, the Bulgarian properties are selling on EBay too (for peanuts).
http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&item=220192705260
I’ll show you other rural houses and their prices, just scroll down the page.
A place in the sun Price: Euro 17,200, land area 700, location: a village
Asking price of £5,148 , 2 bedrooms house:
Asking price of £5,574 ,1 bedroom house:
This is a good chance for a perspective investment and at the same time to possess a lovely house located in such nice place. Don’t miss this offer! ” Asking price of £2,700 , 1 bedroom house :
See more properties in: Bulgaria Property, Europe Real Estate, Property Market Analysis | 2 Comments »
Tags: Bulgaria properties, Bulgaria property for rent, Bulgaria property for sale, Bulgaria property investment, bulgaria property., bulgaria real estate, Bulgaria real estate for rent, Bulgaria real estate for sale
April 8th, 2008 at 12:57 am
“When I say ridiculous prices I really mean that. With what I paid for my new Opel Corsa, I could have bought instead, 2 houses with a lot of land, in Bulgaria.
I’m not kidding.
Bulgaria is not richer or poorer than Romania. They are at about the same level, but for the price of a house in Bulgaria you cannot even buy the fence of a house in Romania.
Why? The answer is very simple: because people are not selling their houses the way the Bulgarians do. The quality of the rural houses in Bulgaria is very low, and In Romania such houses are simply not for sale, because nobody wants them, except the owners who built them to live in them.”
Excellent point!!! This is something nobody talks about and it is a major explanation of why properties in Bulgaria are so cheap. I myself am compiling at the moment a thorough overview of the property market in Bulgaria, and that is something that is on my list too…
April 21st, 2008 at 4:15 pm
Hi Nickolay,
(Kidding) I don’t say is bad to invest in Bulgaria, my point is that many foreigners have been tricked in over investing in properties without market value.
I’m happy we agree on that. As I said before, it all started with the British, over advertising Bulgarian properties. Most of the British are looking towards investing in property in foreign countries, as in UK it became almost impossible to buy property, due to the extremely high prices.
Spain and Greece are not anymore cheap so they focused on Bulgaria. With the money obtained from selling an average home in London which should be around 250,000 Pounds one can buy a small village in Bulgaria