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Mihail Chobanov: Investment in a property is the most well-known and secure
The founder and owner of BULGARIAN PROPERTIES took part in the Personal Finance panel on the first day of the "Sound of Money" forum. See what he told the audience at the forum:
The investment in a property, whether it is an apartment, an office or land, is the best, well-known and secure investment. You can see it, touch it, so it is among the most sought-after, said Mihail Chobanov founder and owner of BULGARIAN PROPERTIES, during the Personal Finance panel within the first day of the Sound of Money forum 2018.
If we have to talk about an alternative to bank deposits, it's the best one can do, no matter the currency and the size of the amount.
According to Chobanov, the yield that can be achieved is between 3 and 6%, which is the normal range of annual returns. But even if you borrow a loan and calculate the interest, you are guaranteeing long-term profitability, the expert said.
To invest in a property, it is not always necessary to have the full amount. Apart from a bank loan, you have the option of co-operating with another investor, which will also bring profitability and investment opportunity, Chobanov said.
If you have 20,000 BGN or 10,000 euros, however, this is a sufficient amount for self-participation in such an investment, after which you can withdraw credit to finance it.
According to Chobanov, foreigners are interested in investing in Bulgaria only in their known places - the sea and mountain resorts. At present Sofia and the big cities are not in their interest, but what stands out as a trend is the purchase of a property for their children who choose to study in the capital.
On a question about iconic large private investments, Chobanov said that there are none of them lately, but the company that he manages in the last 15 years had two deals with customers in the top 100 of Forbes before the last prices peak.
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