by GPET-C1 » Sun Sep 05, 2010 12:51 pm
Oh dear, where to start on the subject. Charlie and Pat seem to have been lied to like many of us on this complex. The fact that they bought through an agent in the centre (no names but I suspect I bought from the same people) is irrelevant as they will sell on the basis of FN instructions. I doubt that any legal action will in fact solve anything sadly. The wording from the seller as I recall, was that the waste ground behind the complex had planning permission submitted from outside investors to develop it into a full golf course. However, I think that is beyond FN responsibility. I believe we have been mis-sold property but that FN will get away with it as there is golf (of sorts) available. On the wider scheme of things, my belief is that Bulgarian property developers will over develop the Sunny Beach area and not learn lessons from other countries that have done the same, and are now not so popular as a holiday destination. Spanish resorts for instance. The inclusion of a full golf course can only enhance the area and increase tourist revenue, but property developers are in business to make money and that is the be all and end all in their eyes. If this area of land in indeed used to build more dwellings, the over development issue, in my humble opinion, will be a reality. Sadly, our investments in this area of the world suddenly looks very shaky and exposure to financial loss is a reality. The owners that will not lose, are the ones who bought purely to have a foreign property in the sun for their own delights and not based on finance in the hope of future profit. Not a positive post I am afraid, but I think a realistic one. I wait with baited breath to read replies!!!