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Buying Old Property in Bulgaria: Top Tips

charming old property in bozhentsi bulgariaThere is a certain charm about old Bulgarian property set in beautiful countryside, which is hard to resist. Old houses in Bulgaria come in all shapes and forms. From little white painted cottages to towering castle style properties and all incredibly low priced. When viewing these properties it is all too easy to fall for their charms and affordability.

With so many properties to choose from at such low prices, you need to watch out and make sure that your Bulgarian property doesn't turn out to be a nightmare that gobbles up your money.

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Choosing a Furniture Package

a stylish way to furnish your homeIf you need to furnish your Bulgarian home, but do not have time to trawl the growing number of furniture stores, then purchasing a furniture package is possibly the simplest and fastest way to accomplish this. Choosing a package takes away all of the stress and hassle of locating individual items and today most packages even include kitchen utensils and small household items. Another key advantage is that you do not have to be in Bulgaria to sign up for a furniture package, it’s something you can arrange quickly and easily over the internet.

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Need Agents but Don't Trust Them

buying property with a bulgarian agentIf you were shown two things and thought you saw they were different, would you believe somebody who told you otherwise - even if that person were telling the truth? How you react to that question demonstrates why people need estate agents but don't trust them.

For estate agents who are working on commission from property sales in Bulgaria, the easiest way to get paid is to simplify the whole thing to get a quick completion of the transaction.

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Under 50,000 euros

cheap bulgarian propertyWhere to bag a property bargain if you've only got 50,000 euros (around 40,000 British pounds) to spend? At a time where finances are more and more difficult, not only the cheap prices of Bulgarian property are attractive but the cost of living in Bulgaria enables people to live a lifestyle which they could only dream about.

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Buying with Family or Friends

buying bulgarian property with your familyOver the last few years, the property market in Bulgaria has seen a growing trend, with more people buying a home with family or friends. If you're dying to get your own home, buying a property together allows you to purchase a nicer place and save on costs. Is splitting your Bulgarian property with your friends or family a great idea or will it end in tears?

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Property Market Update

bulgaria - a good investmentThe Knight Frank 2008 Global House Price Index reports that for the fourth consecutive quarter Bulgaria came top of the list with a growth rate of 32.2% for the year up to Q2 2008. Property prices have risen by an incredible 68% over the last 2 years. Residential property prices continue to rise and look set to experience 10% to 15% growth in 2008 with Sofia’s residential real estate market boasting one of the most dynamic markets in the country. According to a 2008 survey by the Association of International Property Professionals, Bulgaria was ranked as the 4th most popular destination for Britons purchasing overseas property. 75% of UK mortgage brokers expected to see an increase in the number of UK buyers looking to snap up property in Bulgaria over the next 3 years, according to a NatWest survey. The survey also revealed that Bulgaria is the number one destination of choice for Russian buyers, many of whom purchase resale property from British owners.

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Buy, Hold or Sell?

Buy, Hold or Sell?With the global credit crisis, some Bulgarian property owners are questioning whether it would be better to keep their current property or whether it is better to sell. Buyers are also wondering whether now is the time to bag a bargain property in Bulgaria. In a perfect world owners would sell when the prices are at their highest and buyers would purchase when prices have slumped.

Unfortunately, some owners bought with high mortgages and are now finding it difficult to repay them at home, thus are selling.

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Avoiding Buying Pitfalls

avoiding problemsReading the tales on fora and in the press, you might think that every property purchase in Bulgaria is fraught with difficulties. This is not at all the case, in a Quest Bulgaria poll earlier this year 82.1% of respondees said that their experience of buying their property in Bulgaria was excellent or very good with no problems; and only as few as 3.6% said their experience was terrible.

How can you avoid Bulgaria property pitfalls, particularly in times when cash is very stretched and you need to make sure every penny of your hard-earned money is used properly?

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Scientific Skills and Tourism: one couple’s tale

the browns and friendsDerek Brown from Aviemore in Scotland first visited Bulgaria in the few remaining years of the Iron Curtain in 1987. He was an agricultural scientist and was on business identifying potential scientific collaborators to develop joint research projects. Derek was considered the world’s expert on microscopic soil worms, called nematodes, which transmit virus diseases to plants, especially grapevines and the Bulgarian wine industry was of specific interest to him. Derek found the country so welcoming on his first trip, that he and his wife June became frequent visitors and developed a close relationship with two of Derek’s scientific colleagues, Lyubo and Vlada Peneva. As their holidays became more frequent and their circle of Bulgarian friends grew, the Brown’s started to consider early retirement.

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Bulgaria Property Prices

bulgaria property pricesWith mixed messages coming out of the Bulgarian property market regarding price trends, I am reminded of the old nursery rhyme, The Grand Old Duke of York - "when they were up, they were up - when they were down, they were down - and when they were only half way up, they were neither up nor down".

One minute it's a report saying there has been a 30% increase, next it's a 15% downturn, then it's another saying stagnation.

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