Why do people in the UK now buy property in Bulgaria?

Question

The are a lot countries closer to the UK then Bulgaria. I don't think property is particularly cheap there..only compared to th UK..not compared to the Netherlands, Belgium, Germany, Austria, Switzerland, Luxemburg, Norway, Sweden, etc..and those countries have a higher standard of living and higher building standards (even higher then the UK!) - and flights are cheaper and in general it is quicker and easier to get there then most areas og Bulgaria.

Answer 1

Because they think they'll make loads of dosh. Maybe they will, but don't hold your breath.

Answer 2

@Alex: Bulgarian wine? Are you joking? The world's best wines come from Germany, France or Italy. It is not warmer then in many other countries and it is NOT cheap. Houses prices are overvalued now.

ecause they think they make a good deal. Maybe the do, but not because the money the spend is good value, just because they sell it again to someone else from the UK for more....nobody else from aother country wants to buy property there.

40k is a lot of money....that is 60,000 Euros. You can build a new house for 50K and property for land is in most countries no more then 5-10K - in far more civilized countries then Bulgaria with proper roads, more airports, more English speaking people, more tv programmes and more selection in supermarkets.

Even if you only take countries with beaches there is a lot of alternatives - just open your eyes. I personally prefer nice lakes anyway to beaches - and if you look for towns in Europe near beautiful lakes additionally, you will find so many properties around Europe not only for suited holiday but maybe for moving there completely.

It is really shocking to see how many people just waste there money on anything that "looks cheap" in any random country...just because they joined the EU.

You might as well buy stocks of companies there if you want to invest purely...buying a house should only be considered if you can imagine to live there or go there often. But what the heck do you want to do in a country like Bulgaria all day if it is in a tourist area? The capital of Bulgaria is not near the holiday resorts...and it is a dirty town.

Just look at propery websites with property from Germany etc...

Most of them are ripped of...they just build lots of "holiday" apartments and houses along the cost of the black sea....quite ugly concrete buildings and nobody will go there on holiday as flights to other countries futher away are cheaper now then 30 years ago when it used to be a popular holiday resort for continentals who went there by car. But petrol prices are too expensive now and flights are cheap....so people rather fly on holiday to the USA or Carribean...India, Thailand on holiday or to the classic destinationa such as Greece, Turkey etc... i dont see any long-term future for Bulgaria as a holiday destination compared to the other countries.

People in the UK must learn that building land is only a problem in the UK - in other countries you just buy for a small amount of money. People also knock buildings down and build new ones more frequenlty and easily then the UK - so old property will never rise in value like in the UK. And new property is always done using cheap material and sold for 5 times the price it was built for.

Answer 3

Well if it is a comfortable life you are after, then Bulgaria is warm and sunny, is fairly inexpensive, has good local wine, and you are going to get a lot more for your money than in the UK.

There are also those who are going to be making money out of property sales, and as the prices are so high in the UK, they can be fairly sure that UK buyers will be a good catch.

I guess this tendency will increase now that Bulgaria has entered the EU!

Answer 4

Rubbish.... Have you seen they take their life savings all £50k and move to bulgaria.... then they buy a run down property do it up to inferior standard.... Get some red neck estate agents round who say it is worth X thousand more..... Wow....What they fail to tell you if the levels of capital gains tax in these countries.... the cost of buying and selling .... They show no comparables of property that has actually been sold.... and this makes me laugh in 10 years they say that you might double your investment......Woww....Big deal....

You will make more money and it's a hell of lot safer in the UK market...... You would be like a fish out of water.... and most of them are.... The Uk market rises by about 10% a year taking into account peaks and troughs... So much money can be made here....

Answer 5

The company I work for sell apartments in Bulgaria for between £20K and £40k - on the beach - I think that is pretty cheap!

Bulgaria is taking off big style, so prices will soon go up - buy now!!

You should see the prices for land in Romania and Northern Cyprus! Well cheap!

Answer 6

People buy properties abroad because there alot cheaper than in the uk. You could say that uk were the dearest country to live on with all the taxes we splash out on. And why not live abroad for cheap when you have all the sun, sand, weather etc

Answer 7

My friend has purchased 4 houses in bulgaria and this hasnt cost anymore than 20k, she has had offers over 20k for just one of them but she is waiting for the winter olympics and of course for them to enter in the EU (Which they have now) before selling!!

New builds on a complex cost more but your payimng for the facilities's all lovely and new!

Answer 8

I am considering buying near Varna or Burgas. Would recommend traveling there to be able to compare. Lots or French and English are buying, fleeing their own high realty prices, I suppose.

Answer 9

When Easyjet or Ryanair start flying there, property prices will rocket. Holiday homes.

Answer 10

May be Bulgaria is like Kazakhstan and the UK is like the US !!!