Originally posted by wendigo100
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Reply to: For those thinking of moving abroad
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Previously on "For those thinking of moving abroad"
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Three things keep coming to mind:
1. The don't make land anymore
2. Bulgaria are now part of the EU, and will get loads of money and other help to advance their economy
3. It's not that far away, with quite a nice climate and nice countryside
It would seem to be a good long term bet.
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Originally posted by FranckoYep, that's the new normal. All the world will become rich thanks to house prices. We'll all be millionaires. Well, with the exception of AtW, obviously.
tim
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Originally posted by Euro-commuterIt can't last, if it depends on the average Bulgarian to buy them.
tim
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none taken.
morocco is worse, average salary is £2500. foreign investors are paying over £100,000 for flats.
- everlasting prosperity for all.
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LoneGunMan,
agreed :-)
woo, apologies, the reply was a little harsh, but there was some
foundation to it
Milan.
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Originally posted by wooall that should push prices to 3-4 x salary instead of 0.50-1.00 x salary under communism, not 16 x salary.
3-4 x salary is the long term average in the western world, unless 16x is the new normal, I doubt it.
The foreign investors that have got carried away are holding up the market.
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Originally posted by milanbenesif you don't know what you are talking about it's better not to contribute
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Originally posted by woo3-4 x salary is the long term average in the western world, unless 16x is the new normal, I doubt it.
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woo,
if you don't know what you are talking about it's better not to contribute
maybe there's a different thread where you can offer some value ?
Milan.
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all that should push prices to 3-4 x salary instead of 0.50-1.00 x salary under communism, not 16 x salary.
3-4 x salary is the long term average in the western world, unless 16x is the new normal, I doubt it.
The foreign investors that have got carried away are holding up the market.
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woo I've built a house in CZ for my family so I have some familiarity with the situation in the region
there have been two rises as I see it
the first wave of rises was the price corrections following communism
the second wave which we are in now is the combination of the locals being empowered with mortgage credit which they didn't have before in communism, AND foreign investors, the current rise as I see it however is driven in the largest percentage by locals and their mortgages
all the best, do your own research etc, investments can go up and down and yes you can lose your shirt and never borrow more than you can afford if at all
howzat ?
Milan.
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Originally posted by wooso you bought one then?
If the guy who bought at 10k took his profits and ran he'd be ok. The trouble though is that most of them get carried away with it, keep borrowing and buying more and then end up losing their shirt.
[edit]A lot of this is prospecting on the holiday homes market, not the local market. It seems many people are looking for different holiday destinations. A lot of the flats are being purcahsed or rented by time share and similar businesses.
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Originally posted by milanbenesyou have to put things into perspective folks
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If the guy who bought at 10k took his profits and ran he'd be ok. The trouble though is that most of them get carried away with it, keep borrowing and buying more and then end up losing their shirt.
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Originally posted by milanbenesmorning Franko,
do enlighten us
was it a typical crash driven by an unsustainable bubble with investors not doing proper research ?
Milan.
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