Yesterday I found an article in the Independent newspaper talking about how Irish are blaming the property journalists for misleading the investors for investment locations like Bulgaria. Indeed, I'm sure that there were a lot of paid publications (Articles) which presented Bulgarian properties as quick and easy investment return. However I hink most of the negative influence was made by the UK and Irish estate agents. Pursuing quick middle-man fees, they have convinced thousands of investors to put their money into something that was not quite right. On the other hand, very few investors, have made the mandatory due diligence of what they actually buy.
In my practice I see a lot of Irish and British property investors mislead by their UK/Irish estate agents. The investors we let to think that the investment return will be within couple of years, which is not right. But how come all that property investors made the same mistake again? Have they forgotten the Span property rush? This is a question each investor need to ask themselves. Also, most of the developers who lied to the investors are actually British and Irish. I'm sure that they left Span to do the same thing in Bulgaria, and mislead the same investors again.