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.

Wednesday, April 7, 2010

Property Prices in Bulgaria

By Way of Explanation:
Take yourselves back 30 years. Ireeland then, was the poor man of the EU.
A house in Dublin would have cost 20/30,000 Irish Pounds; yes?
Its equivalent in the west of Ireland, maybe 3/5,000: ok?
Ireland was poor; anyone who had any sense at all either went to the east coast for work, or went abroad.
Bulgaria is the same now. If you live in the west(ie. Vidin province, for instance), you go east , young man/woman. Sofia, the Black Sea coast, or abroad, for work.
Desparately poor economy usually equals fragmented property market.
Move forward to, say, the year 2004. That little irish cottage in Connemara is now valued in the 100's of thousands. So if you bought it when it was 5, you made a profit! & how!
How did this occur? The EU money kick-started the economy between '94 & 2000; yes? & Irish wit & wisdom did the rest!
Money is trickling into Bg at an ever-increasing rate; & the old Bulgars are a bit like the Irish, daft as foxes! Just watch Bulgaria & give 'em 10 years. Ok?
So I'll leave the rest to your very wise Irish imagination; but watch this space!

Saturday, April 3, 2010

This is a lovely little cottage. Not a lot of land, but in the centre of the village of Cerno Pole, with the shop literally around the corner (left).
Cerno Pole is about 4km from the E79 Vidin- Sofia road; approx. 40 km from Vidin. It lies on the edge of the Danube Plain before the foothills of the Serbian mountains, with Belogradchik about 15/20 km away.
The structure is sound, & like the cottage at Rakovitsa, is in good order, only wanting a bathroom & kitchen re-fitting. Both water & electricity are connected, & telephone is available.
This would make an ideal holiday retreat, having easy access from the main drag, plus proximity to both the mountains & the Danube.
There is a man in the village who would caretake the property & do simple maintenance.
& at 6,000euros, its a steal. Remember, prices are beginning to rise again in Bg!!! So don't lose the edge!