Re. "I am to do with a development on the coast in Bulgaria!! from articles I have read the bulgarian property market should be able to shrug off the US economic slowdown (I can forward you these articles If you wish). "
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Buyers of Bulgarian property of the type you are marketing will originate mainly from areas which have been hit by this ongoing crisis. Therefore it would be folly to assume that Bulgaria will not be directly affected also by this most global of crises.
Warning: Bulgaria also has some of the highest closing costs of any market anywhere. Potential buyers, before they sign, would be well-advised to have have these detailed extra costs set out in writing and with the mention that the document represents the total outlay for the purchase of the property in question. Reason: stealth charges can add another 25% to the cost of property in this country - over and aove the agreed asking price. Buyer beware!
Source: Telegraph Property dated 16 August 2008, page P5
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I might add that neighbouring Romania IS feeling the effects of the crisis. See David Howe' article on the Forum under Romania for more on this. In the article which he quotes, he says that sales are so slow that many dealers could soon be abandonning the market altogether
Last edited by neustria; 18-08-2008 at 12:48 PM.
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