Turkey or Bulgaria?

Dr Cox's Ego

Ok so say you have circa 50K to invest in Turkey or Bulgaria - which one would you go with and why?

garred

Think there was a thread on this before. But I'd go with Turkey as it is an already established tourist restort. Thats only a personal opinion, the country as a whole is more volatile than Bulgaria but thats the risk you take when you buy in a non euro currency country.

shepthedog

I would go for Bulgaria, already joined the EU, getting Euro soon, alot more stable in Turkey which is in serious doubt for getting into EU.

Bulgaria and Sofia in particular is attracting MNC's and alot of foreign investment which is always a good sign.. money follows money and all that stuff...

nesf

Well, there was a thread discussing property investment in Turkey already here. That's worth taking a look at.

Bulgaria hasn't been discussed though. Yet...

lostinsuperfunk

I don't know anything about investment, but Shep, Bulgaria is not in the EU yet. Like Turkey, it is an applicant state, although it probably has a better chance of being admitted soon.

isolde

Bulgaria is due to join the EU in 2 years' time (2007), along with Romania.

drdre

bulgaria is due to join eu,but personally i think invest in turkey you should geta better return as i know a few people that are devolpers over there and said they made great money over there and they said theres potential sp do some research .

and good luck

Dr Cox's Ego

Sunny Beach in Bulgaria seems to be better value euro for euro from what Ive seen price wise so far.

soma

surely people may want to factor in the difficulties the EU is having at the moment..? will there be an appetite for accepting more members in two years time seeing as by that stage the 2nd attempt at the EU constitution may have failed..?

garred

I don't know chaps are we reading too much into politics. Fair enough economics will affect your investment but at the end of the day which country would you prefer to Holiday/Invest in based on factors such as locals, weather, beaches, etc. When people go on holiday (and thus maybe rent your investment) don't think they will base their holiday decision on how a country is doing politically but on whether it is a nice country. Which is why I went with Turkey cause its established. By the by the prices have gone up and I think the 50k villa's that peolple are talking about are no longer 50k, was thinking of getting a second property in Bodrum but they have gone up now.

RainyDay

Why choose either one? Why not choose Leitrim? Property is really cheap there too - and as a buyer, you know as little about Leitrim economics as most buyers in Turkey/Bulgaria know about the economics of their locations. At least, you can eliminate the flight costs and the local-seller-rip-off-dumb-Paddies factor from your losses.

Dr Cox's Ego

RainyDay wrote:

Why choose either one? Why not choose Leitrim? Property is really cheap there too

http://www.daft.ie/searchsale.daft?search=1&s[cc_id]=c23&search_type=sale&s[sort_by]=price&s[sort_type]=a

not *exactly*

Thomond Pk

RainyDay wrote:

Why choose either one? Why not choose Leitrim? Property is really cheap there too - and as a buyer, you know as little about Leitrim economics as most buyers in Turkey/Bulgaria know about the economics of their locations. At least, you can eliminate the flight costs and the local-seller-rip-off-dumb-Paddies factor from your losses.

I wouldn't choose Leitrim because it is a cold n wet and b the beer is still is a rip off.

Regarding buying properties in emerging locations I would advise extreme caution as you will be charged more than a local a lot more. The Irish lust for land has been well circulated in most markets and as one industry insider put it those making most are Irish people who bought in emerging locations 5 years ago and are now selling to other Irish people through local agents.

If you get off the beaten track in Southern Spain you can still buy second hand property very reasonably, a freind who lives in Marbella bought a cottage (c 74 sq m) a couple of miles inland outside a local village for 42,000 with all services intact.

If any of you are feeling big and have an appetite for emerging market property I can source a Victorian Villa with a late 1980's 3 storey hotel annex comprising 18 bedrooms in total. This property is 50 metres from the beech in a town with a population of 7,000 which is in turn 13kms from a City of 720,000 people. Price excess 180,000 euro

RainyDay

Thomond Pk wrote:

I wouldn't choose Leitrim because it is a cold n wet and b the beer is still is a rip off.

It's for investment - you're not going to be living there.

Thomond Pk

Yes but as we are discussing holiday homes it is relevant

soma

garred wrote:

I don't know chaps are we reading too much into politics.

You'd want to be pretty silly not to pay attention to politics and geopolitical tensions/developments in areas you are considering buying.

e.g. here's a story from todays times : (PS a friend of friend did alot of business in bulgaria and recomended investing in land, not property, in bulgaria as he thought organised crime has too much influence in the construction industry there).

>>>>
A car bomb has exploded at a resort on Bulgaria's Black Sea coast today, killing a child and wounding four others, police and hospital officials said.
Bulgarian policemen investigate the site of a car bomb explosion in the Black Sea village of Obzor
Bulgarian policemen investigate the site of a car bomb explosion in the Black Sea village of Obzor

It was the second such explosion in two days and the third since June, highlighting the Balkan state's battle against organised crime as it prepares to join the European Union in 2007.

Police said the blast killed a 2-year-old girl and wounded a Bulgarian man and woman as they sat in a car in front of a hotel in Obzor, a village near the southern port of Bourgas. It is not clear whether the dead girl and the wounded Bulgarians were related. Two German children who were nearby were also hurt.

"The explosion looks to be connected to business interests," an interior ministry official said, using the often-cited term for disputes between warring crime gangs. Yesterday, four people were wounded when a car exploded near Sofia.

garred

soma wrote:

You'd want to be pretty silly not to pay attention to politics and geopolitical tensions/developments in areas you are considering buying/QUOTE]

Fair enough but its not the primary concern. I mean the property prices in Iraq are BOOMING :eek: and thats not exactly a politically friendly country.

It is one consideration but certainly not the main. It is an investment and you probably will never see or visit the property yourself. Ask yourself what do you think would be a better investment; a country with a sound political situation with average tourism or a country with a "so-so" political government that has large tourist numbers? At the end of the day it will mainly be the tourists who will be renting your property.

PS : would'nt recommend Leitrim as an investment because of the language barrier

Dr Cox's Ego

Does anyone know if last weeks horific bombings affected the market there badly?

Dr Cox's Ego

I ask cos Id still invest in property there despite the bombings in Kusadasi