Hi,
I'm a software engineer in my late 30's and originally come from Holland. Although I build up quite a nice income and didn't have many obligations, saving serious money was quite hard (>10k euro's) and I still had half of my college loan to repay (18k of 36k euro's in total); at the age of 45 I would be debt free.
2 Years ago I got the chance to work for a company outside of Holland and for them it didn't matter where I worked, so I grabbed the map of Europe and discovered Bulgaria (10% Corporate tax, 5% dividend tax, 10% income tax). So I decided to take the opportunity and change my life; not only from a financial point of view, but also from a health point of view (quit smoking, no more red bull, lots of healthy food, quit medication, going to the gym 3/4 times a week etc).
In the 2 years I have been here, I have payed of my college loans and managed to save up 70k euro's and 7.5k euro's is still pending (loans and late payments). The last year I have been reading a lot about early retirement and of course I have been following the Dutch news where the pension system (pyramid schema) is slowly collapsing.
So I'll deal with my pension myself.. currently just by saving.. but I really need to get started with investing money. Luckily there are some banks in BG that offer a very nice interest rate (7%), but putting all my money in a single basket is not a smart plan.
One of my monthly targets is to save 75% of my income. In Bulgaria that is relatively easily due to the low taxes and reasonably low living expenses (although food is quite expensive). But having a girlfriend who does not work (salaries are very low and there is not much work) and having a doggy with all kinds of issues and expensive food, make life a bit more complicated.
So I hope to be able to retire when I'm 45/50.. Although I guess I won't stop working since I like doing it.. and more money is better.
Hello from Bulgaria
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LuckyMoneyCat
- Posts: 19
- Joined: Fri Jan 20, 2012 7:36 pm
Some figures:
Monthly income after tax is 4750 euro's
Monthly expenses 1000 euro's, but is going to be 1200 because we are going to rent an apartment (currently we are staying for free, but this is ending).
Rough split-up of expenses:
Dog :
150/200 euro's
This includes expensive doggy food and a zillion trips to the vet.
Food:
400 euro's
I eat a lot since I work out a lot.
Gym:
125 euro's (this included food supplements for me 50 euro's a month, unlimited gym and yoga for my girl)
Water/power:
100 euro's
During the winter and the sumer it increases since we use the AC for heating and cooling (no other options available).
Others (presents, cinema etc, trips, clothing):
150
This is a rough estimation; my girl takes care of the accounting. I just provide the limit on the monthly budget and as long as we stay within that budget I'm reasonably fine with it.
The things I would like to see improved is a reduction on food and dog related expenses. They say that the first year is the most expensive.. we'll see. And we (well.. mostly me) need to eat cheaper.. and a lot less..
My future target is that we get expenses down to roughly 800 euro's. This doesn't include rent/mortgage since by that time we'll own a house (houses are cheap.. 50/80k and you have a great house in BG). We want a house with a big garden so we can grow a big part of our own food and meat (chickens, rabbits etc). Also the house should have a wood-based heating system; wood is very cheap in BG.
Monthly income after tax is 4750 euro's
Monthly expenses 1000 euro's, but is going to be 1200 because we are going to rent an apartment (currently we are staying for free, but this is ending).
Rough split-up of expenses:
Dog :
150/200 euro's
This includes expensive doggy food and a zillion trips to the vet.
Food:
400 euro's
I eat a lot since I work out a lot.
Gym:
125 euro's (this included food supplements for me 50 euro's a month, unlimited gym and yoga for my girl)
Water/power:
100 euro's
During the winter and the sumer it increases since we use the AC for heating and cooling (no other options available).
Others (presents, cinema etc, trips, clothing):
150
This is a rough estimation; my girl takes care of the accounting. I just provide the limit on the monthly budget and as long as we stay within that budget I'm reasonably fine with it.
The things I would like to see improved is a reduction on food and dog related expenses. They say that the first year is the most expensive.. we'll see. And we (well.. mostly me) need to eat cheaper.. and a lot less..
My future target is that we get expenses down to roughly 800 euro's. This doesn't include rent/mortgage since by that time we'll own a house (houses are cheap.. 50/80k and you have a great house in BG). We want a house with a big garden so we can grow a big part of our own food and meat (chickens, rabbits etc). Also the house should have a wood-based heating system; wood is very cheap in BG.
Hi bulgaria,
welcome. The salary differential between you and your neighbors is really substantial. Living in a low cost area is really going to help you save.
Also, that's nice how you can set a monthly budget number and you guys can just stay within that month to month. Hope that continues to work for you.
welcome. The salary differential between you and your neighbors is really substantial. Living in a low cost area is really going to help you save.
Also, that's nice how you can set a monthly budget number and you guys can just stay within that month to month. Hope that continues to work for you.
The salary difference is huge. A lot of people have a hard time surviving.. Although a lot of things are a lot cheaper, but if salaries are lower, it still can be very expensive. There are many people here living from the garbage containers, or trying to sell small things; flowers, cups with nuts etc.. sitting on a small foldable chair... sometimes in the winter. Just to make ends meet.
But on the other side; there are also a lot of very rich people here. Driving in very expensive cars (I have seen a lot of exotic sport cars and very expensive german cars). And there are also a lot of very very expensive houses.
And the budget; since I make the money I have the last word about it. I explained clearly which goals I have in mind. Luckily my girl is very minimalistic, frugal and a very good accountant. So we are a good combination. Although sometimes she has wishes like having a car, but I'm not looking forward to have other expenses. Our dog already is way more expensive than expected.
But on the other side; there are also a lot of very rich people here. Driving in very expensive cars (I have seen a lot of exotic sport cars and very expensive german cars). And there are also a lot of very very expensive houses.
And the budget; since I make the money I have the last word about it. I explained clearly which goals I have in mind. Luckily my girl is very minimalistic, frugal and a very good accountant. So we are a good combination. Although sometimes she has wishes like having a car, but I'm not looking forward to have other expenses. Our dog already is way more expensive than expected.
Thank-you for your post, I had no idea taxes were so low. I will look to transfer with KPMG to somewhere with lower tax brackets in the future and it is good to know where I can go. If I could keep the same salary but have it go further I'd be much farther ahead. You mentioned living conditions were bad there, how is the health care system?
Keep on track, things sound great in Bulgaria!
Keep on track, things sound great in Bulgaria!
The tax is a flat tax of 10%, but you do need to pay social securities etc. Luckily this is only done over the first 1000 euro's (a month). There is a very nice calculator here:
http://www.moneytoolshed.com/taxcalculatorresult.php
That gives you feedback on gross/net/employer costs in various parts of the world. As you can see, Bulgaria scores very high.
Living conditions: it really depends. Of course.. there are a lot of poor people here. But there also are a lot of people that just live their live without being poor. A lot of things are very cheap; housing.. man power (e.g. plumbing, repairs, accountant etc). So you get a lot more bang for the buck. And if you buy a house:
http://www.bulgarianproperties.com/
You can easily get 1000/1500 m2 of land with the house so you can grow your own food. Especially outside of the main sities (Sofia, Burgas, Varna) things are cheap.. these cities get a lot of foreigners.. and that pushes the price up. A lot of people do grown their own food.. to reduce costs of living.. it is a normal way of life here.
Tip: Never buy something here while you have not seen it in real live and have someone you can rely on. There is too much stuff that can go wrong. e.g. having gipsies (roma) in the neighborhood. They steal everything.
Health care: it depends. The basics are there and it is very inexpensive (my girl pays 8 euro's a month) . But often some small change is useful (for the nurses a euro.. for the doctor that does an operation a nice bottle of booze) will smoothen the experience. But you can always get an insurance so you have access to private clinics either in BG or in other parts of Europe.
http://www.moneytoolshed.com/taxcalculatorresult.php
That gives you feedback on gross/net/employer costs in various parts of the world. As you can see, Bulgaria scores very high.
Living conditions: it really depends. Of course.. there are a lot of poor people here. But there also are a lot of people that just live their live without being poor. A lot of things are very cheap; housing.. man power (e.g. plumbing, repairs, accountant etc). So you get a lot more bang for the buck. And if you buy a house:
http://www.bulgarianproperties.com/
You can easily get 1000/1500 m2 of land with the house so you can grow your own food. Especially outside of the main sities (Sofia, Burgas, Varna) things are cheap.. these cities get a lot of foreigners.. and that pushes the price up. A lot of people do grown their own food.. to reduce costs of living.. it is a normal way of life here.
Tip: Never buy something here while you have not seen it in real live and have someone you can rely on. There is too much stuff that can go wrong. e.g. having gipsies (roma) in the neighborhood. They steal everything.
Health care: it depends. The basics are there and it is very inexpensive (my girl pays 8 euro's a month) . But often some small change is useful (for the nurses a euro.. for the doctor that does an operation a nice bottle of booze) will smoothen the experience. But you can always get an insurance so you have access to private clinics either in BG or in other parts of Europe.
Re: Hello from Bulgaria
An update from my side.
Work:
I'm going to switch companies in a few weeks. The new company will be a lot closer to the things I like to do, so that is a big step forward. Our costs of living will increase because we need to rent a place (currently we live for free). We need to live in a different city because the current one has bad airplane connectivity (so easily adding 6/12 hours to a trip). I'll also be getting an increase in pay, so I can still save 75% of my income. We do need to have a closer look at the budget because we should be able to do more with less. We also have been supporting my girls mom who's foot got broken in a few places a few months ago. But she is back to work..
Money:
I hope to get through my first 100k euro's shortly; I'm currently at 91k but there is almost 5k pending from my old employer (unused holidays from this year and last year). And there is an additional 8.5k pending from my new employer for a book I have written and they are going to buy. I hope that at the end of the year I'll be at 120k. As soon as I'm officially through the 100k I'm going to buy myself a nice desktop sound system since that was a promise to myself (of course I don't want to end up below 100k).
Borrowing money:
Last year I have lend 3k euro's to family members of my girl and everything has been payed back. When the money was returned (well.. I didn't get it i my hands) I borrowed 1k to my girl (which I consider a write off) so she could finish her apartment so that it could be rented out. Also the 1.5k travel allowance was given to my girl from that 3k, she has used for that apartment. But now her mom is going to live in that apartment and they are going to rent out her mom's place. Yesterday she asked for more money (another 2k) since she will not be able to complete it; but I said no. I don't like that I'm paying for her mom. She is upset.. but that isn't my problem; I feel 'tricked' although I'm sure that is not her intent. But it needs to end somewhere. Her sister and her sisters husband could also be in potential money problems because he quit his job before his new one begins (can take time.. in the middle east things go slow) and her job will be cancelled anytime soon and they have a mortgage to pay. He will be making serious money (7k euro's net) but they spend it all on the good life. So this is a nice exercise to say no to that when that question comes.
Health:
I was suffering from swollen legs which could indicate problem with the heart; a family problem on both sides. Although I go to the gym 3/4 times a week, I only do weight lifting. I'm going to buy a hometrainer so I can do cardio at home (I'm to lazy to go to the gym for cardio training since it is so boring.. at home I can watch/do something). I'm 1.89 and currently 110/115 kg's and want to get it to 100/105. Did a bloodcheckup and bloodpressure checkup this week; everything is fine although my good cholesterol was too low. So more nuts; fatty fish etc. According to the doctor I was healthy as a fish. But I could use more exercise because I'm sitting behind my desk almost all day.
Work:
I'm going to switch companies in a few weeks. The new company will be a lot closer to the things I like to do, so that is a big step forward. Our costs of living will increase because we need to rent a place (currently we live for free). We need to live in a different city because the current one has bad airplane connectivity (so easily adding 6/12 hours to a trip). I'll also be getting an increase in pay, so I can still save 75% of my income. We do need to have a closer look at the budget because we should be able to do more with less. We also have been supporting my girls mom who's foot got broken in a few places a few months ago. But she is back to work..
Money:
I hope to get through my first 100k euro's shortly; I'm currently at 91k but there is almost 5k pending from my old employer (unused holidays from this year and last year). And there is an additional 8.5k pending from my new employer for a book I have written and they are going to buy. I hope that at the end of the year I'll be at 120k. As soon as I'm officially through the 100k I'm going to buy myself a nice desktop sound system since that was a promise to myself (of course I don't want to end up below 100k).
Borrowing money:
Last year I have lend 3k euro's to family members of my girl and everything has been payed back. When the money was returned (well.. I didn't get it i my hands) I borrowed 1k to my girl (which I consider a write off) so she could finish her apartment so that it could be rented out. Also the 1.5k travel allowance was given to my girl from that 3k, she has used for that apartment. But now her mom is going to live in that apartment and they are going to rent out her mom's place. Yesterday she asked for more money (another 2k) since she will not be able to complete it; but I said no. I don't like that I'm paying for her mom. She is upset.. but that isn't my problem; I feel 'tricked' although I'm sure that is not her intent. But it needs to end somewhere. Her sister and her sisters husband could also be in potential money problems because he quit his job before his new one begins (can take time.. in the middle east things go slow) and her job will be cancelled anytime soon and they have a mortgage to pay. He will be making serious money (7k euro's net) but they spend it all on the good life. So this is a nice exercise to say no to that when that question comes.
Health:
I was suffering from swollen legs which could indicate problem with the heart; a family problem on both sides. Although I go to the gym 3/4 times a week, I only do weight lifting. I'm going to buy a hometrainer so I can do cardio at home (I'm to lazy to go to the gym for cardio training since it is so boring.. at home I can watch/do something). I'm 1.89 and currently 110/115 kg's and want to get it to 100/105. Did a bloodcheckup and bloodpressure checkup this week; everything is fine although my good cholesterol was too low. So more nuts; fatty fish etc. According to the doctor I was healthy as a fish. But I could use more exercise because I'm sitting behind my desk almost all day.
Re: Hello from Bulgaria
Hey fellow Dutch person,
Recently I met someone from Bulgaria who is now trying to build a life here in the Netherlands. Funny you did it the other way around. (But of course also logical, that Bulgarian person can get a better job and better pay here, sending 10% of his pay back home to his parents ensures that they can live comfortably).
At what age do heart problems usually start in your family? Are they (indeed) the heart problems from atherosclerosis (aderverkalking)? Do you have any idea whether the people who suffered from heart problems had high cholesterol, high blood pressure and/or diabetes? (You know, so you know what to watch out for, most). You are a bit overweight, indeed, so it could help to lose some weight. Do you have varicosis (spataderen)? That could also explain some of the swelling in the legs.
Still, even if everything is still okay with your heart, with your cholesterol (have it checked again in six months or so to see whether the diet is working) and your blood pressure - it can't harm you to start living a healthy life. I would see this as a wake-up call to better your life. In my job at the Dutch blood bank I meet enough people who have a chronic condition because they didn't change their ways on time. I should also look into the mirror, here, because I have my sins too and haven't had to pay for them, yet... Working on it, though!
Recently I met someone from Bulgaria who is now trying to build a life here in the Netherlands. Funny you did it the other way around. (But of course also logical, that Bulgarian person can get a better job and better pay here, sending 10% of his pay back home to his parents ensures that they can live comfortably).
At what age do heart problems usually start in your family? Are they (indeed) the heart problems from atherosclerosis (aderverkalking)? Do you have any idea whether the people who suffered from heart problems had high cholesterol, high blood pressure and/or diabetes? (You know, so you know what to watch out for, most). You are a bit overweight, indeed, so it could help to lose some weight. Do you have varicosis (spataderen)? That could also explain some of the swelling in the legs.
Still, even if everything is still okay with your heart, with your cholesterol (have it checked again in six months or so to see whether the diet is working) and your blood pressure - it can't harm you to start living a healthy life. I would see this as a wake-up call to better your life. In my job at the Dutch blood bank I meet enough people who have a chronic condition because they didn't change their ways on time. I should also look into the mirror, here, because I have my sins too and haven't had to pay for them, yet... Working on it, though!
Re: Hello from Bulgaria
My dad had his first heart attack when he was 38 and I'll be 38 in 3 months (and yes.. it makes me think). But he didn't get any exercise at all (sitting in the car as instructor) and very bad eating/smoking. I eat very healthy (thanks to my girl) and don't smoke/drink and get some exercise. Later in his life he got all kinds of complications like strokes (tia).DutchGirl wrote:Hey fellow Dutch person,
Recently I met someone from Bulgaria who is now trying to build a life here in the Netherlands. Funny you did it the other way around. (But of course also logical, that Bulgarian person can get a better job and better pay here, sending 10% of his pay back home to his parents ensures that they can live comfortably).
At what age do heart problems usually start in your family?
As far as I remember yes. Both my grandfathers had a bunch of bypasses and one of my grandmothers died of a silent heartattack (so big part of the heart died) when she was 65. One of my grandfathers managed to get 86 and the other one is still living.Are they (indeed) the heart problems from atherosclerosis (aderverkalking)?
Cholestorel and I believe high bloodpressure. My mom is suffering from ultra extreme high bloodpressure (sometimes above the 200... not joking). But she also has a very unhealthy lifestyle, smokes (1 bag of tabacco a day... at least).. She also has all kinds of other issues; perhaps caused by a chemical poisoning she had when she was her twenties (she can't work anymore). I think that my grandmother (the one that died) was suffering from diabetes. But they had unhealthy eating habits (e.g. eating very faty gravy) and she was very overweight.Do you have any idea whether the people who suffered from heart problems had high cholesterol, high blood pressure and/or diabetes?
Thanks(You know, so you know what to watch out for, most). You are a bit overweight, indeed, so it could help to lose some weight.
I know how to lose weight. I lost 20kg 2 years ago. But I gained 15.. I guess half fat.. half muscle. The cause is the lack of exercise.. if I do 700 additional calories a day.. the fat will be gone quickly.No. Also the kidneys looked healthy. And my left leg is more swollen than the right (afaik also indication of heart problem since the higher blood pressure is on the left). It isn't swollen often btw.. sometimes when it is very warm outside.Do you have varicosis (spataderen)? That could also explain some of the swelling in the legs.
You are doing fineStill, even if everything is still okay with your heart, with your cholesterol (have it checked again in six months or so to see whether the diet is working) and your blood pressure - it can't harm you to start living a healthy life. I would see this as a wake-up call to better your life. In my job at the Dutch blood bank I meet enough people who have a chronic condition because they didn't change their ways on time. I should also look into the mirror, here, because I have my sins too and haven't had to pay for them, yet... Working on it, though!
I saw that you lost weight.. so you are heading in the right direction. I need to get myself a home trainer to make it part of a daily ritual instead of a temporary thing.Re: Hello from Bulgaria
I can imagine reaching the same age that your dad had when he got into trouble (my, he was very young!) does make you think.
I actually don't think that asymmetric swelling of the legs has something to do with blood pressure or heart problems. Sounds like a medical fairytale to me. I've seen different swelling left/right with people who had varicosis (and then more in one leg than in the other) or with people who had had a severe injury in or a surgery of one leg (making that leg more susceptible to swelling forever more). Maybe you could ask your doctor one day about your left/right swelling hypothesis?
Blood pressure should be the same on the left and on the right side of your body. So for example blood pressure measured on your right arm should be the same (plus or minus about 10 points) as blood pressure measured on your left arm. Different blood pressures left and right could actually be a sign of atherosclerosis. See here: http://www.ehow.com/about_5506848_diffe ... t-arm.html
I would say your doctor has indeed diagnosed that you're a healthy person; so don't worry too much . But good luck with the losing weight; I'll keep at it too.
I actually don't think that asymmetric swelling of the legs has something to do with blood pressure or heart problems. Sounds like a medical fairytale to me. I've seen different swelling left/right with people who had varicosis (and then more in one leg than in the other) or with people who had had a severe injury in or a surgery of one leg (making that leg more susceptible to swelling forever more). Maybe you could ask your doctor one day about your left/right swelling hypothesis?
Blood pressure should be the same on the left and on the right side of your body. So for example blood pressure measured on your right arm should be the same (plus or minus about 10 points) as blood pressure measured on your left arm. Different blood pressures left and right could actually be a sign of atherosclerosis. See here: http://www.ehow.com/about_5506848_diffe ... t-arm.html
I would say your doctor has indeed diagnosed that you're a healthy person; so don't worry too much
. But good luck with the losing weight; I'll keep at it too.-
TheWanderingScholar
- Posts: 650
- Joined: Thu Dec 30, 2010 12:04 am
Re: Hello from Bulgaria
@bulgaria:
Hopefully my geography is correct..
Considering Bulgaria is in the general Balkans area, how is it like? Have you have any experience in other Balkan countries or just Bulgaria because I am just curious about the culture and so on?
Hopefully my geography is correct..
Considering Bulgaria is in the general Balkans area, how is it like? Have you have any experience in other Balkan countries or just Bulgaria because I am just curious about the culture and so on?
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SilverElephant
- Posts: 130
- Joined: Mon Jul 22, 2013 12:40 pm
Re: Hello from Bulgaria
@bulgaria
What kind of software engineer (precisely) are you and what company do you work at that allows you to earn this amount of money while never coming in, i.e. working from wherever? You're pretty much in my dream situation with that... usually only absolute experts in a field achieve such a position, i.e. when the company can't do without them?
What kind of software engineer (precisely) are you and what company do you work at that allows you to earn this amount of money while never coming in, i.e. working from wherever? You're pretty much in my dream situation with that... usually only absolute experts in a field achieve such a position, i.e. when the company can't do without them?
Re: Hello from Bulgaria
@youngandwise
It really depends on where you live; the difference between city and countryside is very big. Also there are big differences between area's. I must honestly say that I'm not an extreme social person, so I'm not that interested in humankind. What I do see is that there is a lot of poverty; but being poor is more accepted than e.g. Holland where people end up in social isolation. People are friendly, but they can also be quite negative.
@silverelephant.
I'm a developer and I specialize in scalable systems. And my employer (old and new) is working in that same field. Although most days I work from home, sometimes i'm away for a few weeks from home.
Important to note is that I pay little tax: in total between 13/15% en we keep cost of living low (25% of net income). This makes it possible to save. In Holland I have worked for companies where my monthly costs for the employer were a lot higher, but the net result was a lot lower (and the money is even less effective because of higher cost of living).
So you don't need to have a huge salary to do some serious saving. Just retain as much as possible the money the boss is spending on you.
It really depends on where you live; the difference between city and countryside is very big. Also there are big differences between area's. I must honestly say that I'm not an extreme social person, so I'm not that interested in humankind. What I do see is that there is a lot of poverty; but being poor is more accepted than e.g. Holland where people end up in social isolation. People are friendly, but they can also be quite negative.
@silverelephant.
I'm a developer and I specialize in scalable systems. And my employer (old and new) is working in that same field. Although most days I work from home, sometimes i'm away for a few weeks from home.
Important to note is that I pay little tax: in total between 13/15% en we keep cost of living low (25% of net income). This makes it possible to save. In Holland I have worked for companies where my monthly costs for the employer were a lot higher, but the net result was a lot lower (and the money is even less effective because of higher cost of living).
So you don't need to have a huge salary to do some serious saving. Just retain as much as possible the money the boss is spending on you.
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secretwealth
- Posts: 1948
- Joined: Mon Jun 27, 2011 3:31 am
Re: Hello from Bulgaria
@bulgaria
I am curious about one thing: property costs, particularly along the Black Sea coast. There was a bit of a trend of speculating on property along that coast last decade, and I'm curious how that trend has been impacted by the crash and recent political developments.
I am curious about one thing: property costs, particularly along the Black Sea coast. There was a bit of a trend of speculating on property along that coast last decade, and I'm curious how that trend has been impacted by the crash and recent political developments.
Re: Hello from Bulgaria
@secretwelth
Since 2008 the prices have gone down considerably.
It also depends what you want and how close you want to be to the cost. You can get real palaces here fit for a king. But you can also get much more modest property. So how much do you want to spend and where should it be located Check here for some properties:
http://www.bulgarianproperties.com/
This is in the vacinity of my city:
http://www.bulgarianproperties.com/Sear ... =&c=Search
A lot of houses are extremely overpriced btw. it could be that in a few months they drop the price with 50%. The coast and the main capital are very expensive; if you want more house for the money you can for to more central bulgaria. My favorite environment is Veliko Tarnovo... lots of mountains.. lots of history.. very beautiful. And prices are cut in half.
Recent political developments.. I think is a bit exaggerated in the media.. there are people protesting but it isn't that the whole country striking. I don't know how much that will impact property price. A lot of foreigners are not willing to buy property and the property bubble bursted 5 years ago. I don't have the impression that there is much change.
Since 2008 the prices have gone down considerably.
It also depends what you want and how close you want to be to the cost. You can get real palaces here fit for a king. But you can also get much more modest property. So how much do you want to spend and where should it be located
Check here for some properties:http://www.bulgarianproperties.com/
This is in the vacinity of my city:
http://www.bulgarianproperties.com/Sear ... =&c=Search
A lot of houses are extremely overpriced btw. it could be that in a few months they drop the price with 50%. The coast and the main capital are very expensive; if you want more house for the money you can for to more central bulgaria. My favorite environment is Veliko Tarnovo... lots of mountains.. lots of history.. very beautiful. And prices are cut in half.
Recent political developments.. I think is a bit exaggerated in the media.. there are people protesting but it isn't that the whole country striking. I don't know how much that will impact property price. A lot of foreigners are not willing to buy property and the property bubble bursted 5 years ago. I don't have the impression that there is much change.
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secretwealth
- Posts: 1948
- Joined: Mon Jun 27, 2011 3:31 am
Re: Hello from Bulgaria
Thanks--some real nice properties for cheap in your area!
It doesn't seem like the prices have changed much from the last time I checked (2009). I guess it's just clinging to the bottom for the most part. It seems Bulgaria might not have hurt as much property-wise as Spain, but it's kinda like comparing Chinese water torture to waterboarding at that point...
It doesn't seem like the prices have changed much from the last time I checked (2009). I guess it's just clinging to the bottom for the most part. It seems Bulgaria might not have hurt as much property-wise as Spain, but it's kinda like comparing Chinese water torture to waterboarding at that point...
Re: Hello from Bulgaria
The bulgarian property market is a strange one
Often prices are unrealistic. Differences between prices are huge! If you go to the center of Bulgaria, you can also find amazing houses.. but for half the price.
check this:
http://www.bulgarianproperties.com/Sear ... 1&c=Search
And the average bulgarian salary is something like 400 euro's a month -> +/- 5k a year. If you multiply that by 4 (in most cases that is the mortgage ratio) the average house price should be 20k. In the city you won't find many houses of such price. So people have a hard time buying. But prices are not dropping a lot..
Often prices are unrealistic. Differences between prices are huge! If you go to the center of Bulgaria, you can also find amazing houses.. but for half the price.
check this:
http://www.bulgarianproperties.com/Sear ... 1&c=Search
And the average bulgarian salary is something like 400 euro's a month -> +/- 5k a year. If you multiply that by 4 (in most cases that is the mortgage ratio) the average house price should be 20k. In the city you won't find many houses of such price. So people have a hard time buying. But prices are not dropping a lot..