Investors make mistakes every day. If they did not then the developers, estate agents and lawyers will stop making money. Investing in Bulgaria is even more risky than most of the other countries mainly due to the lack of judicial system and enforcement of laws.
Here is a list of five such investor mistakes from which it will be hard to expect any return at all:
- Bulgarian Dreams and their network of interconnected companies leaving half of Bulgarian with unfinished projects with bombastic names such as Aquamarine, Belle Vue, Bell Tower, Breeze 1 & 2, Cedar Lodge, Cedar Heights, Golden Fort, Green fort, Interpred Development, Iskar Central, Museum House, Panorama Fort club, Paradise Villas, Park Residences, Pirin Place, Bansko Hill Road, Ravda Village, Sofia Hills Mansion, St Vlas, Summer Dreams, The Sands, The Orchard, The Residence, Vega Village, Waterside Quay and White Lagoon. At least the big number of deceived investors lead to their uniting in groups such as offplancollective.com. However, the mess created by Robert Jenkin and his fraudulent schemes is so big that it will be hard to find a way out soon.
- Golden Pearl Holiday Resort, Varvara, Bulgaria – advertised by the “excellent investment opportunities provider” The Right Move Abroad Ltd. After several years of disputes finally the development was founded to be completely illegal. It is strange that its development was allowed in the first place and what is left now is to find someone to deal with the bricks, rubbish and concrete left on the site. This, however, does not stops the awarded estate agency to continue advertise the development even as “sold”.
- Oasis VIP Homes. Built right on the sands next to the sea this development is illegal by all means of the law and Bulgarian constitution. Sooner or later it will be demolished.
- Golf Club Ibar – “the first Nicklaus design Golf Course” in Bulgaria and probably their last. The development of the two cousins Lazarov & Nedev has become famous with its fake documentation and forged habitation certificates. Among the other problems the developers have been sued even by the local Municipality.
- Sunny Beach and even more now with surrounding towns of Nessebar, Ravda and St. Vlas. What used to be the nicest Black Sea resort is now a concrete monument of construction madness and corruption in the real estate sector in Bulgaria. It will take years to recover from the damages caused by uncontrolled building in the area.
Who is to blame for this? Surely the Bulgarian authorities who allowed this in the first place and were amongst the main beneficiaries of bribes and organisers of all sort of schemes to circumvent laws and materialise developer’s greed.
The list above does not pretend to be a comprehensive one but rather a start and challenge to everybody else with experience is this area. Any comments or suggestions are welcome and I will love to hear from you criticism or recommendations.

