investment in sozopol?

Last activity 25 September 2015 by Pooh Bear

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tommo1231Member24 September 2015 18:10:43

Hey all nice to find a forum on such a little known country!
I have been coming to bulgaria for around 10 years now ushually once a year as a nice fun cheap break away!
I have family that has a property in samokov by borovets.
whilst i was there this time i took a drive down to sozopol and had a few nights there and was impresed with the place even out of season and it was still well priced!
Whilst there it got me thinking, i noticed a few apartments for sale in the new and old town and a select few in the fancy looking and nicely named i must say sozopolis!
my million doller question is, is it worth buying an apartment here as an investment? I know it can be rented out in season but i am not looking for a quick return.
Other questions whilst im here though,
how much would a 1 - 2 bed apartment rent for in season? And how long is the season?
How long do we think it would be till a sizeable return is seen on property in the region?
Is there anything else i should know about the area or surrounding areas?
Also whilst im here how long would we guess till (if iat all i suspect they will) bulgaria goes to the euro? ( bad for a cheap holiday i know but surely good for property prices to go up!)

Well thats it folks sorry for the long winded questions but i know little about the area and areas surrounding it. I only really know Samokov and Plovdiv!
Thanks all!!

Kris0x0Contributor25 September 2015 05:58:29

150

Hello and welcome to the forum. As for your questions, the season here last about 4 months and that's pushing in. I don't know how much you can rent it for since I don't know exact location and if it's a luxury apartment or not but keeping inmind that an oceanfront hotel in Sunny Beach goes for €50-€100 a night in the hight of the season (August) and places further back from the front line go as cheap as €15 that will give you some parameters to work with. Now on the subject of Bulgaria switching to the euro, yes rents will go up but as that happens people will start looking at other options for a cheap vacation, I just came back from Greece and yes it's twice as expensive over there but the services are much better, it's a lot cleaner and it's not as overcrowded. Bulgarian coast has become a concrete jungle and unfortunately because it was built up so much so quick most (if not all) hotels, apartments, buildings are constructed very poorly, you see leaks and structural damages in buildings that are only a few years old.

Pooh BearGuest25 September 2015 06:31:08

214245

G-D forbid Bulgaria will adopt the EURO, it will kill the villagers.

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