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Article: From Russia with loot... Tips from TV's No.1 house hunter.(Features)
- Article from:
- The Mail on Sunday (London, England)
- Article date:
- November 8, 2009
CopyrightCOPYRIGHT 2009 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Liz O'Kane
There are few places in which Irish investors have taken such a bath as in Bulgaria. We piled in during the boom, lured by dirt-cheap apartments - but now we want out. Prices have fallen by as much as 85pc in coastal areas, according to recent reports, and the ski resorts of Borovets and Pamporovo haven't fared much better.
Property firms dealing there have gone under, most notably British-based Bulgarian Dreams, which once boasted that over 30pc of its clients were Irish.
Yes, the flippers have been stung, but now even longer-term investors are thinking again.
Having made a profit from the sale of a property, ...