It is written in the article: "Most of the hotels are priced at more than 300 euro a sq m. Local estate agents believe that these prices are unrealistically high."

How can an asking price about 300 euro a sq m. be estimated as high? As fare as I know it should be hard to complete a hotel for less than 600...

This comment has been removed by the moderator because it contained Обиди, дискриминация, срещу журналисти

CarolHorner - property values should be proportional to your wealth??? @ 4x salary. Surely you must mean property loans. What if you are a pensioner with no salary or with a small income but have inherited property or sold property? You should make it clear if you are talking about borrowing from a bank etc and most banks have learnt their lesson the hard way. Building and trying to sell a hotel is hardly likely to affect the average villager or local resident that you are trying to protect

Carol - I think you didnt read the article. The subject was hotels not apartments on the black sea. I dont think many individuals from the UK Germany etc bought hotels with a view to making a profit.The greed you talk about is mainly home grown As such ALL your comments are totally irrelevant. And in any case the channel islands do not come under EU laws unlike Bulgaria.

yeah right; this could be just falsified data or extremely inaccurate data. How much of it is really true data that reflects declining and deprecitiaiting actual and market value. It still needs to fall alot more. Because prices have been pumped superficially!

Why is this an issue; at the end of the day, the price of goods and services is not what he seller wants to charge but what the consumer is willing to pay.

It is hard for bulgarian businessmen to internalize the cyclical movement of markets. Whatever goes up, must come down! Greed is such a drug!! and dreams of fast riches die slowly.

This is such a shame. They should just raze the hotels down and take back the coastline.

Part of the blame here are the so-called evangelists and get quick property carpet baggers who arrive from the rest of the EU [like the UK and France or Germany] buying up property cheaply (relative to their own countries in the old EU) pricing them above the local residents and then realising that there is no such thing as a quick buck!

As a Government Bulgaria Romania Hungary and the other States should stop these properties and money-grabbing foreigners from acquiring such properties by enforcing the same rules as apply to the equivalent for residents [...]

Read the full comment in Jersey and Guernsey (the channel Islands) that is ...
1] if you want to but property then invest accordingly
2] Local Ownership should come first,
3] Property Values should be proportionate to your ''so-called'' wealth and thus if you only earn a salary of €20,000 property values ascribed to you should be of common parity to [say] 4 x salary, and at €30,000 the same pro rata:
but
3] Foreign Investors from the UK or from France etc should lodge a Financial Deposit with the Government Treasury of the full amount of the property from overseas according to its value in relation to their own property prices, so that for example an investor from the UK should only be allowed to buy property at a minimum value of €400,000-00 fully funded from his own resources and paid for totally,
and
4] The Foreigner should register his domicile and Citizenship in the Country where he buys the property...
then
5] Pay Taxes at the current rate for Residential - Local Municipal Taxes and Income Tax.

That would sort it out.

This comment has been removed by the moderator because it contained реклама & спам

This comment has been removed by the moderator because it contained реклама & спам

This comment has been removed by the moderator because it contained реклама & спам

This comment has been removed by the moderator because it contained реклама & спам

This comment has been removed by the moderator because it contained реклама & спам

This comment has been removed by the moderator because it contained реклама & спам

This comment has been removed by the moderator because it contained реклама & спам

This comment has been removed by the moderator because it contained реклама & спам

This comment has been removed by the moderator because it contained реклама & спам

Just typical!! They build the hotels with no viable business plan, or any realistic view of its true value.

They raise prices so high that they chase away the very customers they built the hotel for in the first place.

They go bust (oh what a shock - didn't expect that!).

Remaining true to their belief of greed over common sense they attempt to sell to pay the banks, but at an unreal price.

The weirdest part is that Bulgarian Banks let them do [...]

Read the full comment it.