Bulgarian buy-back scheme launched
11 September 2009
Irish investment company Appreciating Assets Ltd is rolling out its successful buy-back scheme across Britain...
The initiative is aimed at completed properties in Bulgaria owned by British investors.
This is the first overseas property scheme of its type; it provides a long awaited exit strategy for struggling overseas investors. It aims to match sellers with buyers who are currently seeking to invest in the Bulgarian property market.
The scheme was first launched in Ireland at the turn of the year, initially just for properties on the Black Sea, since then the company has experienced a huge response from people wishing to sell their properties and has achieved a very high success rate in finding buyers.
Following the success of this first stage it is now being launched in the Britain and expanded to include Bulgaria's famous ski resorts. Appreciating Assets Ltd has investors registered as part of the buy back scheme who are currently looking to purchase properties in Bulgaria.
Dylan Cullen, Director, Appreciating Assets Ltd, said, "In recent years British purchasers bought a huge amount of property in Bulgaria, mostly fuelled by the low prices on offer there. In the current economic climate it is proving difficult for many investors to sell their properties, but we have buyers available that are willing to purchase immediately.
"So we're asking anyone with a property that they would like to sell to get in touch with us today."
The buy-back scheme addresses the major flaw in the overseas property market in emerging countries, such as Bulgaria, where investors have great difficulty in selling on their properties due to the absence of an established second-hand resale market.
This is mainly due to the high levels of new build properties and the fact that most people who are lucky enough to find a buyer for their property, then find that their prospective buyer cannot get finance. Appreciating Assets Ltd has solved this issue by only submitting properties to investors that have already shown that they are in the financial position to make the purchase.
Property investors from the UK can still benefit from the strength of the euro, which is still as high as €1 - 87p; recent rises have helped offset reductions in property prices, meaning losses by UK investors are currently much less compared to those investors based in eurozone countries, such as the Republic of Ireland. But the pound is expected to strengthen against the euro so property owners would be wise to take advantage whilst they can.
Property owners should call Appreciating Assets Ltd for further details on +353 (0)1 632 8632 or submit their property details on
www.appreciatingassets.ie. A UK office is due to open shortly.
Source: Themovechannel.com
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