Dylan Cullen

Appreciating Assets has been successfully selling Bulgarian Properties owned by British and Irish Citizens to Russian buyers for a number of years.

Mar 092018
 

With the Ski season now fast approaching, property sales in Bansko have started to increase. According to recent surveys, Bankso is expecting its best Season since 2008 for tourism. This will also have a positive impact on property sales in Bankso.

Since the beginning of the downturn Bansko has struggled with the oversupply of properties for sale and rent. While the oversupply of properties for sale is set to continue into the future, the rental market is showing initial signs of recovery. The increased number of tourists along with owners spending time in their own properties has really added a sense of positivity to the area which is very welcome.

Our most recent sales Bansko were Oct 14th in Lucky Banskso and Oct 17th in Vihren Palace. The prices achieved were in the region of €500 per m2.

While these prices do most certainly represent a loss for the owners, the key point is that there is a market for properties in Bansko at the right price.

If you own a property in Bansko that you are considering bringing to the market for sale, please contact us and we will be happy to give you an accurate valuation of your property free of charge.

 

Mar 092018
 

With the Ski season now fast approaching, property sales in Bansko have started to increase. According to recent surveys, Bankso is expecting its best Season since 2008 for tourism. This will also have a positive impact on property sales in Bankso.

Since the beginning of the downturn Bansko has struggled with the oversupply of properties for sale and rent. While the oversupply of properties for sale is set to continue into the future, the rental market is showing initial signs of recovery. The increased number of tourists along with owners spending time in their own properties has really added a sense of positivity to the area which is very welcome.

Our most recent sales Bansko were Oct 14th in Lucky Banskso and Oct 17th in Vihren Palace. The prices achieved were in the region of €500 per m2.

While these prices do most certainly represent a loss for the owners, the key point is that there is a market for properties in Bansko at the right price.

If you own a property in Bansko that you are considering bringing to the market for sale, please contact us and we will be happy to give you an accurate valuation of your property free of charge.

 

Mar 092018
 

We got a call last week from a property journalist with Ireland’s best-selling newspaper The Sunday World, who asked us about the market for overseas property. We indicated that we’d sold 160 properties in 2013 and that we needed new properties to cater for demand for Russian buyers at 6 large investment expos across Russia that we are exhibiting at. They also found it interesting the British buyers were purchasing more overseas property than any time over past five years.

To read the article please click here.

 

 

Mar 092018
 

To sell property in Bulgaria before the end of this year is still very possible and indeed very likely as long as your property is correctly priced.

Appreciating Assets sell property in Bulgaria all year round and we can confirm that the number of viewings taking place on the Black Sea and in the Ski Resorts  of  Bansko and Pamporovo  is up by 7% on the same period last year. In fact our most recent sale in Bansko was in Lucky Bansko today October 14th and our most recent sale on  the Black Sea was in the Grenada Complex on  Friday October 11th.

Our clients properties continue to receive enquiries  all year round from potential buyers in Russia, Scandinavia and the UK.

We have received confirmation from 62 potential Buyers that they will be visiting the Black Sea and the Ski resorts of Bansko and Pamporovo over the next 10 weeks.

The clients are travelling to Bulgaria with the specific objective of Buying a property in Bulgaria. These clients are all paying for their own flights and accommodation so they are very serious about Buying a property in Bulgaria.

If you own a property in Bulgaria that you would like to sell or if you already have a property for sale in Bulgaria but you would like to discuss your current asking price please contact us and we will be very happy to give you honest and objective advice.

Grenada Sunny Beach Bulgaria

Grenada Sunny Beach Bulgaria

Lucky Bansko Bulgaria

Lucky Bansko Bulgaria

 

Mar 092018
 

We have recently spoken to an Irish owner of Bulgarian property who issued their Power of Attorney to complete the sale of their Bulgarian property in 2012. Giving Power of Attorney for selling property in Bulgaria is perfectly normal.

Over the past year they have been told that their sale was happening but that there were some delays.

They have recently learned that their property was in fact sold in 2012 and is no longer in their name. As you can imagine this was a huge shock to them as they were under the impression that the sale had not yet happened.

They are currently trying to resolve this issue and collect the money they should have received when the property was sold and we hope that they are successful as this is a shocking thing to happen to anyone.

We are highlighting this because we do not want to see it happen to anyone else.

If you are in the process of Giving  Power of Attorney for selling property in Bulgaria  to a company or an individual we would advise the following:

Establish the closingdate, it is OK if this moves by a few days but not by a few months.

Establish the approx figure you are to receive when the sale closes. If you have paid your property taxes and your management fees up to date this figure can easily be established. If you do owe some money on either of these then contact your management company and ask them to verify what you owe them and ask your agent or lawyer to confirm how much you owe in annual property taxes. Once you have these figures you can then be clear how much you will receive from your sale.

Once you are clear on the figure you are due to receive you should then ask to speak to some other people who have given their Power of Attorney so that can ask them about their experience.

If the person or company cannot give you the names and contact details of previous clients then you should think very carefully about giving them your Power of Attorney.

If you have already given your Power of Attorney and the time frame to close your sale has already come and gone please don’t worry as sometimes sales do get delayed.

What you do need to is to ask the person or the company currently in possession of your Power of Attorney to guarantee in writing that your property still belongs to you and to send you the results of a Bulgarian land Registry search.

If there is even the hint of problem with either of these requests please contact us immediately and we will carry out a land registry search for you free of charge.

Mar 092018
 

We have recently spoken to an Irish owner of Bulgarian property who issued their Power of Attorney to complete the sale of their Bulgarian property in 2012. Giving Power of Attorney for selling property in Bulgaria is perfectly normal.

Over the past year they have been told that their sale was happening but that there were some delays.

They have recently learned that their property was in fact sold in 2012 and is no longer in their name. As you can imagine this was a huge shock to them as they were under the impression that the sale had not yet happened.

They are currently trying to resolve this issue and collect the money they should have received when the property was sold and we hope that they are successful as this is a shocking thing to happen to anyone.

We are highlighting this because we do not want to see it happen to anyone else.

If you are in the process of Giving  Power of Attorney for selling property in Bulgaria  to a company or an individual we would advise the following:

Establish the closingdate, it is OK if this moves by a few days but not by a few months.

Establish the approx figure you are to receive when the sale closes. If you have paid your property taxes and your management fees up to date this figure can easily be established. If you do owe some money on either of these then contact your management company and ask them to verify what you owe them and ask your agent or lawyer to confirm how much you owe in annual property taxes. Once you have these figures you can then be clear how much you will receive from your sale.

Once you are clear on the figure you are due to receive you should then ask to speak to some other people who have given their Power of Attorney so that can ask them about their experience.

If the person or company cannot give you the names and contact details of previous clients then you should think very carefully about giving them your Power of Attorney.

If you have already given your Power of Attorney and the time frame to close your sale has already come and gone please don’t worry as sometimes sales do get delayed.

What you do need to is to ask the person or the company currently in possession of your Power of Attorney to guarantee in writing that your property still belongs to you and to send you the results of a Bulgarian land Registry search.

If there is even the hint of problem with either of these requests please contact us immediately and we will carry out a land registry search for you free of charge.

Mar 092018
 

Our company founder Dylan Cullen was interviewed on the weekly Irish radio show The Business Eye. Here he talks about how Appreciating Assets helps owners of Bulgarian property sell their investments to Russian buyers, as well as giving some tips to aspiring entrepreneurs. If you want to sell your Bulgarian property then this is well worth a listen.

Mar 092018
 

Russians buy property in Bulgaria, this is not exactly breaking news but what is surprising is how many Russians buy property in Bulgaria.

300,000 Russian citizens already own a Bulgarian property according to the Bulgarian  Minister of Economy, Energy and Tourism Assen Vassilev in a recent address to the INTURMARKET -2013 tourism exhibition in Moscow.

Here are some other interesting numbers, over 20% of Russians have confirmed that they want to Buy a property in Bulgaria and over 600,000 Russians visited Bulgaria in 2012 which was a 30% increase on 2011 figures.

 

These figures certainly support the notion that Russians buy property in Bulgaria, but what they do not tell us is how much they are willing to spend which is what we are really interested in.

Property sales in Bulgaria to date in 2013 have been strong but prices have not.

It is not that prices have been slashed again because of either the Bulgarian economy or the Russian economy, the truth is that both economies are in reasonable shape.

The problem lies with the Irish and British economies neither of which are doing particularly well at present.

As a result a of our own sluggish economies many Irish and UK investors who bought property in Bulgaria during better days are now trying to sell them.

Our clients sell their  properties for various reasons but regardless of what their reasons may be, the result is still the same. A huge supply of properties for sale at the same time.

While it is fair to say that there are enough Russians actively buying properties in Bulgaria to deal with this supply, what we need to be aware of is that because of the large number of properties currently for sale by private owners prices are constantly dropping because owners are being pitted against each other.

An example of this is as follows:

A Russian Buyer contacts a number of estate agents to try and find the perfect holiday home in Bulgaria. Each agent will give him a number of properties to choose from. Eventually the Buyer decides which property they like. All seems pretty straight forward so far.

The Buyer decides to buy a 1 bedroom apartment in development X for €30,000  and informs the other agents that they have made a decision.

Each of the agents they have contacted focused on the selling their clients property and now they are watching a Buyer choose a different property.

Now it can get messy, the agents will now try and convince  the Buyer to change their mind and offer them better value for money. This is when you the owner gets the call and you are told that there is a serious Buyer looking to buy a 1 bedroom apartment for €30,000 but that they have a choice between your property and a similar property. The only difference is price. You now must decide if you are willing to reduce your price to secure the sale.

The reduction may not be huge, it may only be 1500 Euro which is a fairly reasonable reduction from your asking price of €30,000. In fact it is only 5%. Your agent will now call the Buyer and confirm that he can offer them a similar property to what they liked but he can get it for them cheaper. He will collect the deposit and secure the sale before any other agent can do the same.

Your agent has now secured your sale and you should be happy with them because they did their job.

The flip side of this story is that the very next day when your agent is valuing a new clients property and they are using the same comparable method they used to value your property when you first contacted them they will now tell the new  client that the most recent sale of a similar property to theirs was for €28,500. Strictly speaking the market price for 1 bedroom apartments in Development X has now fallen by 5%.

The point of this example is to illustrate that when Russians buy property in Bulgaria they have such a large choice of properties in excellent locations that in the end, price is your strongest asset.

We are not saying that you should drop your price to make a sale but be under no illusions that if you don’t, the likelihood is that your neighbour could.

If you would to discuss y0ur Bulgarian property or you need advice on any aspect of Bulgarian property please contact us and we will be very happy to help you in any way we can.

Contact Us.

 

 

 

 

Mar 092018
 

In order to sell Bulgarian property you will first need to know the correct asking price. An accurate valuation is the foundation of any successful sale.

You will need to find an Bulgarian Estate Agent that has a strong track record in delivering sales in your area. Don’t be afraid to ask your agent for the names and numbers of clients they have sold properties for that month. If the agent is genuine they will be only to happy to provide these details especially if it means new business for them.

Speaking with other owners on a one to one basis is a great way to get a feel for the agency you are considering dealing with and also allows you to get a feel for the price you are hoping to achieve.

All too often properties are brought to the market at the wrong price, sometimes too low and sometimes too high.

To successfully sell Bulgarian property in the current market you need to know exactly what properties like yours are achieving and in order to do that you will need to do some research of your own. Your management company can be a great source of information because they can tell you how many properties have been sold in your development over the last 12 months. This is very important because this will tell you what type of properties have sold, one beds, two beds or studios.

Using this information will allow you to understand the level of interest your property in Bulgaria  is likely to attract. For example if you now know that the majority of sales in your development have been 1 bedroom apartments and you have a 1 bed you know that you have a property that  people will buy. If on the other hand you have a 2 bedroom and you find out that there was no real interest in 2 bedroom apartments over the last 12 months you now know that you will need to make your price very attractive in order to sell.

Of course your agent can do this for you but it is always worthwhile spending some time on research, especially when there are thousands of Euro at stake.

Appreciating Assets will be happy to provide you with a free valuation of your Bulgarian  property at any time.

If you want to sell Bulgarian property contact us today.

 

Oct 262016
 
Property for Sale in Bulgaria

Property for Sale in Bulgaria

Placing a Property for Sale in Bulgaria is made very easy with Appreciating Assets.

The first step in Placing a Property for Sale in Bulgaria is to provide you with a free current market valuation which is based on comparing your property with similar properties which have recently sold and with those currently for sale. This valuation of your property in Bulgaria will act as guide in terms of the asking price for your property.

 

By having an accurate valuation it will give you the necessary information to decide if you are happy to place your property for sale at that time. If the current values are not acceptable to you, at least you will have the confidence to know that you are making an informed decision regarding your asking price.

The Next Step

Once you have settled on the asking price and instructed Appreciating Assets to place your property for sale. It will then inform its network of agents throughout Bulgaria, Russia and Europe to begin the process of finding you a Buyer for your Bulgarian property.

Now that you have placed your property for sale in Bulgaria with Appreciating Assets, its agents will prepare the online adverts for your approval. Based on experience the most successful website to date in generating interest for properties in Bulgaria has beenwww.rightmove.co.uk and its own website www.appreciatingassets.ie.

These websites complement each other very well. Rightmove is currently receiving over 80,000 visits for Bulgarian property every month and with Appreciating Assets having its Bulgarian properties prominently advertised on Rightmove, this brings a high volume of those interested searches back to www.appreciatingassets.ie.

The Final Step

Bulgarian Properties Sold

Bulgarian Properties Sold

Appreciating Assets and its network of agents will work with potential purchasers to secure a suitable offer for your property and will bring those offers to you for your consideration. Our agents will at all times be available throughout the process to give you their opinion on offers and to assist you with your property.

 

Whether you are Buying or Selling a property in Bulgaria, Appreciating Assets and its agents are there to assist you every step of the way.

If you are considering buying or selling property in Bulgaria please contact Appreciating Assets and one of our agents will be very happy to provide you with a free current market valuation including a simple guide to the process.