What Type Of Property Should I Invest In?
The Bulgarian Property boom, have you heard about it? If not, then read this article as it may change your life.
I am basing my Personal financial The Myst Condo plan on my 100k mortgage. 100k is still today a large amount of money and to pay off 100k in Four years is quite an achievement, so if your interested in Bulgaria Property and saying goodbye to your mortgage then read on.
Bulgarian Property is currently one of the best property hotspots in Europe. Most people who have a credit card can still afford to purchase a cheap Bulgarian property, so if you can manage to spend 7k then you can have in your possession a potential Bulgarian property investment goldmine to secure you and your familys future.
The time is now to purchase Bulgarian Property at these low prices as Bulgaria has only just joined the EU, historically all countries joining the EU have shown unbelievable property price increases in very short amounts of time.
Bulgarian people have for the first time in their history, now been allowed to apply for mortgages which will fire the Bulgarian property market into over drive in the next two years.
So if you purchase a Bulgarian property today for 7k, you may need to spend a small amount of money updating but supplies and Bulgarian Property building labor is still very cheap today. An updated Bulgarian medium sized Property at today’s prices is already worth anything from 20 to 30k.
You could own a two – three bedroom Bulgarian Property with 500 square meters of land attached which will be the ideal sized home for a Bulgarian family or anyone abroad wanting a cheap overseas second property or for relocation purposes.
So why hasn’t the Bulgarian people done this themselves?
Bulgarian people up till now have been earning low wages and most cannot afford to purchase any Bulgarian property. Most people share family homes at the moment but with signs of the country developing into a wealthy state and mortgages just around the corner the Bulgarian people will be looking for Bulgarian property to purchase before the market goes mad.
With this in mind, predictions based on 2006, Bulgarian property prices rises before entering the EU were at 80% increased from 2005. It has been predicted by many Bulgarian property experts that by the end of 2007,you could see anything like a 100 to a 200% property price increase in the Bulgarian Property market. This is based on the fact that the Bulgarian property is still very cheap and not in line with other EU countries at the moment.
So by the end of 2007 after spending 10k including updating your Bulgarian property, this could be worth anywhere in the region of 60 to 80k, which by most Europeans is still cheap for a good sized family home.
If you decide to rent your Bulgarian property out for the four year period like i will, you could achieve a rental income of 10k over this time period taking your profit so far to an estimated 90k plus.
We havnt factored into this yet the average annual Bulgarian property increase over the three years remaining after 2007 which even at a modest 5% a year takes you up and well over 100k in just Four years.
If this makes sense to you and your interested in Bulgarian Property. I have developed a new website with tips and advice on where to purchase cheap Bulgarian property today,you can find mysite now by clicking on the link here or in the resource box below – Good Luck!