Those who are contemplating booking flights & accommodation separately should be aware of the problems which have been becoming more and more obvious in the Black Sea resorts over the past few years and have been exacerbated by the global financial crisis - see today's Novinite report.
While package holidays are generally covered (if booked through an operator covered by ABTA/ATOL) in the event of the collapse of a flight or accommodation provider, holidaymakers who make their own arrangements will almost certainly not be automatically covered for these situations.
Toonman
Hi Toonman
Had an excellent Christmas and I'm fine thanks - I trust that applies to you & yours also?
Best wishes for 2010
Baldur
Had an excellent Christmas and I'm fine thanks - I trust that applies to you & yours also?
Best wishes for 2010
Baldur
Is this going to affect individual property owners, who may own 1 apartment in a development ?
If we/they have paid the builders, and they in turn havent paid the banks, are we in for some trouble ?
If we/they have paid the builders, and they in turn havent paid the banks, are we in for some trouble ?
justjoe wrote:Is this going to affect individual property owners, who may own 1 apartment in a development ?
If we/they have paid the builders, and they in turn havent paid the banks, are we in for some trouble ?
I honestly don't know. It's a question that is probably best directed at the advokat/solicitor that you used when purchasing your apartment.
The potential for problems like this has been obvious for many years (at least 6 years, in my opinion), as the the sheer scale and pace of developments in Bulgaria was likely to be financially unsustainable, to anyone who wasn't blinded by the agents' unrealistic blandishments regarding fantastic investment potential and/or rental income.
Baldur
got to agree, that it has been looking like a boom waiting to go wrong for a while.
We bought our apaartment in 2007, but not off a plan. It was ready to move in to, and all the others (in Yalta complex ) were sold.
Owners now wanting to sell them on, seem to be struggling to get any interest, as we are surrounded by new builds, ans the roads were only put in last summer, which made the back look very untidy.
We didnt buy for a quick profit, or for a rental income.
Instead we are enjoying our trips,and a few family and friends use it which just about covers the maintainence.
Looking forward to a couple of good holidays this year, and sharing the experience here.
We bought our apaartment in 2007, but not off a plan. It was ready to move in to, and all the others (in Yalta complex ) were sold.
Owners now wanting to sell them on, seem to be struggling to get any interest, as we are surrounded by new builds, ans the roads were only put in last summer, which made the back look very untidy.
We didnt buy for a quick profit, or for a rental income.
Instead we are enjoying our trips,and a few family and friends use it which just about covers the maintainence.
Looking forward to a couple of good holidays this year, and sharing the experience here.
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