I am thinking of investing in Property in Bulgaria, any advise.

Go out there and see what you would be buying and what the place/area is like - I have been skiing in Bulgaria a couple of times and it is not the friendliest of countries - especially some of the locals towards foreigners (in my experience). Remember this is an old Eastern Bloc country and they can resent people with money coming in.

Also, check up on the property laws of the country as they vary greatly from country to country - what other costs do you have to pay, what taxes will you be liable for etc - take legal advice before you commit to anything. There certainly used to be a rule in Bulgaria that you were limited as to how much money you could take out of the country each year - so if you wanted to sell would you be able to get all of your money out at once. I don't know if still applies - worth checking though.

Whereabouts are you looking out of curiosity?

ony,

Some people are looking in teh Czech republic,coming into the Eu on 1.5.04.

Fundementalist mentions the obvious dangers above, there are probably safer countries to invest in, IMHO.

If you have access to advfn, check out The Bulgaria Thread (BULG), started by energi. But certainly one point to consider is the language barrier. Even within the major cities, it can be a struggle without some basic grasp of the language. But there are agencies who have english-speaking staff. Loads of links on that thread too.

Do not.
rgds aj

ajren,

my feelings precisely!

I have looked at purchasing new property in bulgaria.It may be a short letting season if you are thinking of renting out your property.Also I think there is a vat rate of 24% to be paid.I think croatia is a better bet,tourism is set to grow by an average of 6.5% per year.I think tax on property sales is about 5%
plus about 3-5% to an agent.Adriatic coast would have a longer season.also the country has a long history of tourism prior to war.Have a search on google for croation property to give you some ideas

Tony,

Out of interest, why Bulgaria?

If you are looking for capital appreciation, I can understand the logic that prices must be very cheap there now I imagine, and when they are in the EU, property prices will no doubt rise.

If you are thinking of buy to let, not sure that will be so easy to manage personally, and i wonder why you don't take the (IMHO) easier route of buying in the UK?

The south and London would be very difficult to realise a decent margin, but other areas still offer opportunities.

Stay in U.K.property and focus on the 3 most important things :-

1.Location
2.Location
3.Location
rgds aj

Yeah - I agree,

Bulgaria is not a v.friendly place - had my worst EVER holiday there. apart fm hookers / hostility and food-poisoning and dull food (unless you adore kebabs and rice), there was the 2-tier system: cheap for the locals, rip-off for everone else, you'll hate it...try this instead.

I bought a flat in Malta, Sliema (v.good location), 2-bed, balcony front and back, for about 44k sterling the locals like the Brits, speak English, have a decent climate, excellent cuisine, easily get to by acft fm the UK, and have low crime and a no-nonsense attitude to hooliganism. Also, as it has onnly one sand beach, the chances of it becoming another Kos are slight (besides, they would not allow it i think) - not that it is a dull place - lots of bars (v.cheap booze) ansd casinos and discos, but not everywhere...
hope this helps

tony1311

Any more thoughts? Having seen your post in Feb, I done some research and am seriously considering taking a trip there to look at some off plan sites. Do you want to share info either on this board or via email?

ticker,

Might as well post it here for the benefit of all.

I'm not interested personally, but there will probably be some interest from others.

Do you speak Bulgarian?

Why Bulgaria ?
rgds aj

Hi tony1311,
Google --- type Bulgarian property.Lots of useful information.
rgds aj

Bulgaria is not the friendliest place. Think hard about it. Remember that dogs with a tail in Sofia are regarded as tourists.

Foreigners cannot buy land in Bulgaria, but companies can.

Therefore, if you want to buy a house with a garden, etc., you will need to set up a company to do so.

Went to the Property Investor Show at Earls Court yesterday and they had lots of agents offering property in Bulgaria who will also set up the company for you. They were charging 5% commission to do so and you also have to pay 3% tax (stamp duty) to the government. However, the properties were so cheap, from 20k up, that an extra 10% in costs is not a killer.

Hope that helps.

Regards.
Mark.

i say go for it then tell us all if it was a good idea 6 months from now.

There seems to be some anti-Bulgarian property sentiment, which seems a shame. I have looked at Slovenia and the language barrier is the most interesting challenge, though most under 40s speak English to some degree. Unlike Croatia, Slovenia has joined the EU now and enquiries are said to have more than quadrupled recently. The country has everything from coast to cities and lakes and mountains, along with a really lovely population. If anyone is interested, you can p-m me for more details at sharecrazy by clicking on profile on one of my posts(I post as eyecatcher). I can give you more info as my p-m facility does not work here for some reason, despite efforts to activate it.

Laws are changing to make it easier for foreigners to buy and prices seem to be on the up. I can recommend good lawyers and translators who have been working with me, for example.