British Emigrants Buying Homes In Bulgaria
The global financial crisis has not left any stone unturned. It has found a way to affect everyone, no matter where they find themselves to be. Before looking at the affect the financial crisis has had. It is important to note the distinction between those British emigrants in Bulgaria who have purchased investment properties, to those who have purchased holiday homes, and those who have moved their entire lives to Bulgaria.
The British expatriates that have been hit the hardest have been the ones who have purchased Bulgarian properties as short-term investments. These individuals have sustained damage through the global financial crisis. As well as the local issues of a contracting economy, and a Bulgarian property bubble.
Locked into investments as prices fall
Those British emigrants in Bulgaria who have purchased apartments close to the Black Sea coastline, and in popular ski resorts. Have found that these properties have not yielded the short term cash return that was expected. This has left British expatriates locked into their investments and tortured, as they are left to watch a fall in market prices.
This has left these Brits facing a big life changing choice. Do they ride out the recession, watch the fall in prices and hope that they witness a rise. Or do they sell their properties and a realise a definite loss.
Holidaymakers have for the best part escaped any of the negative effects, since the properties they have purchased are long-term investments. These Brits still visit their second homes in Bulgaria, near the Black Sea and ski resorts. With the growth of low-cost air travel between the UK and various European destinations including Bulgaria, it is now even easier for Brits to get to their holiday homes. This will become even easier as rail services spread across Europe, thereby making it easier for British emigrants in Bulgaria and everyone else to travel from one place to the next.