05.07.2010 Buyers Look for Well-Kept Properties
Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES
Property management was not something owners used to appreciate while the market belonged to the sellers and all properties were sold fast and at constantly increasing prices. For example, foreign buyers never buy apartments in blocks whose entrances and exterior are in a bad condition. They are not considered a good investment, foreign buyers are even afraid to enter such blocks.
Regarding holiday homes – at present it is only apartments and houses which are in developments with good property management and renting out services that are being sold. There are no buyers for properties in blocks without property management and renting out services, even if they are sold at very low prices. Moreover, there is no possibility to rent the property out and get return from the investment if there is no professional management of the complex. In this sense the management of holiday homes is a key factor for the success and realization of any development.
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