empty appartments

[greg]

i have been watching the availbility of apartments for sale in N.F.C for some time now and was told on my recent visit last month that there was just a hand full still for sale.
It seems that there are some 36 for sale now and that the numbers seem to be rising.Are people selling them back?
Should we have reason to be concerned? and will it affect the purchase price of our apartments?
Just wondered if anybody had any thoughts on the matter.

[garym]

We had the same concerns. you need to try and look beyond the short term. The global economy has taken a down turn and property prices are hit the world over. Just think of your investment as a pension plan or something similar. 5 - 10 years and I'm sure we will all be glad we took the plunge. property prices although having fluctuated have doubled on average every 7-10 years since world war 2. I'm sure bulgaria won't be any different.

[mishka05]

Hi Greg, I think that many people will be having the same concerns as yourself - me included, but I am of the same thinking as Garym, we have to look upon this as long term. While ever I have people renting my appt I feel confident that we will be able to hold onto our appt for the long haul.
I have been working my butt off trying to secure bookings for this season, which I have managed to get quite a few.
The 2 party's that have stayed in it already have booked again for next summer, they have also told their friends and family, who have made enquiries.
They were so impressed with NFC, so I am hoping that the guests that are booked in upto the end of the season will do the same.

If you take a look around at some of the other complexes by other builders they are not of the same standard as Fortnoks. The chap who does my airport pick-ups ect has told me that many of the other complexes that he goes to are no way near as good as the FN ones, some of the others don't even cut the grass - it is knee high and there is nowhere for guests to sunbathe ! - and they are paying maintenance fees for that lack of service.

So even in these uncertain financial times I feel confident that I made a good choice by investing with FN.

P.S I have also passed on FN website details to a few people who have expressed an interest in buying, so there are still people out there wanting to invest in Bulgaria, so hopefully all this uncertainty will not be long term.

Julie
D7

[markilly]

Hi Grey,
Yes...I have had the same thoughts.
You have been given good advice from mishka and garym.
I think now is the time Not to panic but hold on for a few years and make the best use of your apartment until better economic times. Do your utmost to get the apartment rented our during the holiday season if you are not using it. Mishka05 has done good work to rent his apartment to date. I have mine rented out also but have went through a rental company. I do pay a % to the rental company for this privilege and as yet I am not sure what the income will be from it this year. I do however know that I will get something at year end which is better that nothing. Anyway...Thats my approach this year and I may try mishka05s approach next year.

Goodluck and don't worry too much about it...The money is better locked against this than in the bank ...It will come good for us in the longterm.

[finbarrk]

Which would be the best company to use to rent out an apt. would you say?

[singhswapnil]

anyone interested in buying Studion apartment ( 47sq meter) in Holiday fort golf club ( 1st floor pool facing) for a throw away price of Euro 29,000. Please contact me on singhswapnil74@yahoo.co.uk asap . Its just next to Nessebar Fort club.