Eastern Europe is an immature
market. Many estate agents have only been in business for a few months.
The first decision you have to make is where to buy. You will be faced with
often very helpful agents who are willing to help, but are often inexperienced
with selling to foreigners You will need to be very patient and always be
polite.
You must have a pioneering spirit otherwise you would not be looking at this
website.
Take a tour of Eastern Europe. Border crossing is fairly painless and if you
decide to go by train you will find it not too expensive and reasonably comfortable.
Travelling 1st class is only a little more than 2nd class and well worth it
the extra.
Eastern Europe has a Mediterranean summer and a cold and crisp winter. On
average the cost of living is almost half the UK. Food on the whole is very
good and wholesome as it is normally supplied locally. If you in the countryside
local markets are plentiful and great fun to visit. Do not expect perfect
shaped fruit or vegetables they are mostly grown locally by small farmers
and almost organic as farms are fertilised from there own cattle, horse, pigs
etc.
Prices of properties in large towns and cities are almost as expensive as
UK prices. However as soon as you are in the countryside prices plummet and
a 3 bed roomed house can cost as little as £30,000.
The infrastructure generally is a lot poorer than Western Europe, but the
rebuilding projects for Motorways and A roads are extensive and will be noticeably
improved in the next few years. If you do not mind doing up an old property
I highly recommend it as the new middle class east Europeans prefer new build
(hence the bargains to be found.
If you are fond of skiing Bulgaria is a very good bet cheap property and wonderful
slopes (Bulgaria could be hosting 2114 winter Olympics)
If you find a property you like it is a good idea to find an English-speaking
lawyer who is there to protect you? Don’t negotiate entirely with the
agent.
If you're buying a place to retire to, make sure you are not too far from
a Railway station or Airport. Check on medical facilities.
If you wish to rent your property beware of optimistic sales blurb of unrealistic
returns. Use your common sense. If the property is near the sea, Golf Course,
Ski Resort. Than there is a good chance of a reasonable return on your investment.
Finally when travelling in Eastern Europe try to stay in local hotels and
pensions it is a good way to get to know the locals. In all my travels in
Eastern Europe I have met nothing but kindness and generosity.
