overseas property for investment

[dmaxxx]

i have some money not that much �18,000 to put away.....i would like to invest in bulgaria or eastern europe....any suggestions would be much appreciated.

[pagey]

I am in a similar position to you, dmaxxx, I will have �20000 or so to invest soon and was considering Eastern European property.

I was recently on a training course with a Bulgarian colleague. He was a very humble man who showed me a Airline Magazine containing a lot of property details for the international flyer.

I remeber the prices of newer developments were around the �30000 mark, but for the money you appear to get a lot. The scenery in some parts of Bulgaria is absolutely stunning and I can see it becoming highly desireable in the future as Western Europeans buy second homes in these upcoming areas.

I will be keeping an eye on this thread as it is something I am very keen on persuing!

[Ethel]

My advice is to research it well. Not just the property market, but the legal aspects of owning property in Bulgaria as a foreigner.

Find out about taxes, rates, permission needed.

The rights and obligations of a homeowner in Bulgaria. The laws, the running costs.

Everything that you do in your home country you would need to do there, in a foreign language.

There are plenty of websites to help you.

Good luck!

[rugeleyboy]

yes i agree with ethal!

there has been cases,mainly in spain, where investors have paid for building plots and then find out they dont actually own the plot!!!

we and the wife are looking for property abroad and bulgaria is one of the destinations we are looking at, also cyprus!!

when cyprus joins the EU (that may be wrong but they are joining something) the property will triple in value??

[gammaray]

www.bulgaria-houses.com

[noxlumos]

I own some houses in Bulgaria amongst other places and they are an excellent investment. Key things to remember is that you need to own a Bulgarian compnay to buy there as individuals foreigers can't buy ( you can set one up very cheaply) and you need to be careful of very cheap properties �200-�10,000 as sometimes they are in areas where there will be no interest from tourists or previously industrial areas ( ex chemical plants etc) and so not desireable for that reason.that being said I bought several very cheap properties, but if you want something fairly sure fire stick to near the resorts as that's where it'll all be happening or to Spa towns.

The Bulgarian people are lovely, local tradesmen good and cheap as long as they know EXACTLY what you want.

Good luck, it's good fun:)

[buildersmate]

Rugeleyboy. Cyprus is already in the EU, its the northern part of Cyprus aligned to Turkey that would like to join as well, with Turkey.