First things First

Hello & Welcome! In this blog can be found anything from comments on WW3 to solar power use. Sorry about that but that's how my mind works! Just depends in what mood I get up in a morning. Read on, McDuff!

Thursday, April 15, 2010

Buying to rent in Bulgaria

This market, like the property market, is fragmented still in Bg.
Where my properties are, in the north-west corner of this fairly large ,small country, there is as yet no established holiday letting market. This is one of the reasons why its cheap to buy there; & so a good long-term investment. Everything is there for a holiday: beautiful unspoilt surroundings- mountains, lakes, the Danube, hunting, fishing, walking, etc., but the infrastructure is missing. This is not to say that you couldn't let a cottage there; it merely means that you would have to advertise it yourself, & any guests would have to make their own arrangements for what to do whilst there. Not that they would find themselves short of things to do; there's plenty!
But EU money is coming into Vidin province; an airport is planned; the Danube is being bridged as we speak!; all the major roads have been re-built; & attractions like the Baba Vida fortress & the Belogradchik Rocks (google these), are well established. There is also a marina planned on the Danube at Vidin.
& at an approximate costing of say 10/15,000 euros for purchase & renovation of a property in that area, with a 25% occupancy rate during the summer advertised locally in Ireland or the UK you would see a reasonable return on investment. That, coupled with the value increase on property in that area will make it a good investment overall, for very little outlay. Remember, for the price of one apartment on Sunny Beach, you could have three cottages, renovated, around Vidin!
If you are interested in this please email me & I can give you more details of building firms there & property management people around Vidin.
I am setting up a new website over this spring for just this type of enquiry. On it will be adverts from builders, property managers, estate agents etc. plus a forum for exchanging views, problems, & general chat about buying in Bulgaria.

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