selling in sunny beach

[thedon]

does anyone know who i could deal with in selling two apartments that i have in sunny beach - they are now 3 years old. is there a local trustworthy agent with a decent client base?

[runchev]

Depends where your apartments are and what price you will ask for them?

Also, what is the reason for selling them?

[thedon]

The apartments are both 2 bedrooms in the Summer Dreams complex and the reason I want to sell them is to make some profit and release some capital.
I was hoping to ask €110k for each.

[Cagla]

Originally Posted by thedon

The apartments are both 2 bedrooms in the Summer Dreams complex and the reason I want to sell them is to make some profit and release some capital.
I was hoping to ask €110k for each.

What is the country they have located in??

[thedon]

Bulgaria - that's where I placed the original thread.

[fingal hoop]

any luck in selling this
i have an appartment there

what are your thoughts on the management company?

[thedon]

they are okay but leave a bit to be desired.
I assume you have the tiles problem so?
due, they tell me to be sorted this week!

[Regina]

Hello Thedon, I have an apartment in Summer Dreams. I agree with what you say about the agent although I have received a respectable amount of rental income each year from them. The fact that they take care of everything for me is important to me considering I live in SE Asia .

I want to ask you if you (or anyone) has had any joy with selling your apartments? I actually think it will be a few years yet before we really see any profits or notable resell market in the Sunny Beach area. They are, after all, still merrily building away...
I agree with a few other members here who say the coastal properties were overpriced 3-4 yrs ago, but I`d add it wasn`t by ridiculous amounts...maybe 10-15% then the enormous hype and property fever about eastern Europe at that time (TV, papers etc) provided a seemingly credible smokescreen for us excited buyers.

I do , however deem Summer Dreams amongst others to be a good purchase in the big picture of things. I carefully choose a decent developer with good build quality when I went to Bulgaria to suss it out 3-4 yrs ago.It has a unique look to it which I think makes it attractive in the holiday catalogues. The location is good and central but not near the banging clubs etc The decent rental income I get each year validates these few points.

I think the reality is another 3-4 yrs before one should sell up and expect a profit. I actually want to sell up there pronto and realize some cash as I have a baby on the way and we all know they cost a lot ) .

I have recently emailed many agents asking them to resell my apartment offering a nice comm and even leaving the sale price open to discussion . Response from 14 emails: 3.Only one interested in marketing it ..for a fee!!!

Hanging a banner off the balcony is a novel idea, cant do that as Im in SE Asia..

anyway, I`d like to read anyone`s thoughts on my thoughts )

[thedon]

Originally Posted by Regina

Hello Thedon, I have an apartment in Summer Dreams. I agree with what you say about the agent although I have received a respectable amount of rental income each year from them. The fact that they take care of everything for me is important to me considering I live in SE Asia .

I want to ask you if you (or anyone) has had any joy with selling your apartments? I actually think it will be a few years yet before we really see any profits or notable resell market in the Sunny Beach area. They are, after all, still merrily building away...
I agree with a few other members here who say the coastal properties were overpriced 3-4 yrs ago, but I`d add it wasn`t by ridiculous amounts...maybe 10-15% then the enormous hype and property fever about eastern Europe at that time (TV, papers etc) provided a seemingly credible smokescreen for us excited buyers.

I do , however deem Summer Dreams amongst others to be a good purchase in the big picture of things. I carefully choose a decent developer with good build quality when I went to Bulgaria to suss it out 3-4 yrs ago.It has a unique look to it which I think makes it attractive in the holiday catalogues. The location is good and central but not near the banging clubs etc The decent rental income I get each year validates these few points.

I think the reality is another 3-4 yrs before one should sell up and expect a profit. I actually want to sell up there pronto and realize some cash as I have a baby on the way and we all know they cost a lot ) .

I have recently emailed many agents asking them to resell my apartment offering a nice comm and even leaving the sale price open to discussion . Response from 14 emails: 3.Only one interested in marketing it ..for a fee!!!

Hanging a banner off the balcony is a novel idea, cant do that as Im in SE Asia..

anyway, I`d like to read anyone`s thoughts on my thoughts )

Regina, I too had the run around from a number of agents. Also, I saw a programme on Bulgarian property recently and the the gist of it was, if you want to take a drop in value - sell now, if not - wait until the market steadies down a bit. So it looks like the waiting game for Bulgarian investors. It would help enormously if the Bulgarian govt could eradicate the corruption that exists at virtually every level though.
Sorry I cannot be a bit more positive. The banner hanging outside the apartment sounds like a great idea, but I doubt current holiday tenants would appreciate it. And when you might hang it in the off season, nobody is there to see it! We just cannot win!
The Don.

[Regina]

Thanks for your reply Thedon,

I also reckon the general credit crunch thats filtering across the world from the US is another factor to consider. Its already impacting on the minds and pockets of buyers in all sectors ..As im sure you know the UK house market is in a turmoil with an average of one potential buyer per 12 houses on the market. The prices are coming down fast and then the greedy vultures that caused the credit crunch to happen in the first place will come swooping in to clean up at bargain prices using the ill gotten cash from Mr Normal Everymans pocket . I won`t go on ...

Perhaps there will be more holidaymakers taking cheap holidays to Bulgaria rather then long haul destinations to save their cash
for the increasing grocery bills back home. Lets hope so. I advise moving to Asia ,very low cost of living/ richer lifestyle, low stress and warm weather. )

Regina