TV “News”

Tuesday, July 14th, 2009

Hi there,

I was looking at a French national TV channel’s report of a visit to the Bulgarian Black Sea Coast last night. I won’t name it – but it’s French and the number comes right after one. I was not surprised – it was “confirming” the typical and predictable French opinion of the Bulgarian scene – and proceeded to report that “all” the large hotels on the Bulgarian Black Sea Coast are owned by the Mafia (Bulgarian or Italian, they didn’t say). Then they showed that the resorts were empty, and then they showed some 60% finished apartment units and ran them down as well. I have to admit, I was not surprised by the totally biased reporting (if you can call it that) and I reflected that it would be nice to see a balanced report about “our” coast at least one time on tv, but I guess that won’t sell air-time.

What really bugged me though was that they then – in the same program – switched to the (French) Côte d’Azure and proceeded to show how wonderful it is. With all the fancy Italian sportscars and all the fancy almost-naked models. Never mind that at least as many large hotels (and many more of the fancy girls) there are owned by the Mafia (French or Italian) as in all of Bulgaria, they speak French and that makes it okay. Did you ever swim there in the summer? Yuck!

Ciao for now

Craig
for
Bulgaria Realtor

Jimmy Craig Websites

P.S. Remember, you read it FIRST on
Bulgaria Realtor!

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Construction Costs Dropping

Tuesday, June 9th, 2009

Hi there,

As predicted, the costs for construction of real properties are dropping. There are two reasons for that, one is that the costs for materials are lower due to lack of demand and lower energy and transportation prices. The other is the lack of jobs for contractors and strong competition for the little amount of work available.

The second item – competition in the construction arena – will tend to even out over time. What we expect to happen is that the weaker (presumably marginal) contractors will be forced out of business on a financial basis. The buyers will (have) become more discerning, making sure that their contractor lives up to the contract and does the job properly the first time. The days of the “slap it together and get rid of it” are over, at least for the near to medium term.

Finally, the market prices will be limited by the partially-finished properties that were stopped due to the lack of money and buyers. It will be less expensive and faster to finish the better of these than to start from scratch. The less viable incomplete construction (with design and/or infrastructure problems) probably will be demolished over the medium term, which will reduce the pressure on the lower end of the price range.

Craig
for
Bulgaria Realtor

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