Phuket Post :: Article :: The Bulgarian comparison

I am finally coming to the end of my Eastern European expedition and write this from a very pleasant sidewalk cafe on a paved pedestrian thoroughfare in the ancient city of Plovdiv in Bulgaria.

From this more bourgeois city you would be forgiven for not realising Bulgaria is still a poor country, but take a little drive into the countryside and � as you struggle to overtake your fifth horse and cart � you soon appreciate that Bulgaria still has a very long way to go before it makes it to the standards we have come to expect in more developed countries. And with that I include Thailand.

Yes, there is the very occasional BMW 7 Series and I even saw my first Audi Q7 while here, but they are rarities indeed. There are cars on the road here that no self respecting Thai would be seen dead in � forty year old Trabants and Wartburg Knights � cars that in their day should have been driven directly from the factory to the scrap yard. But, in this country of seven million people, the roads are pleasingly still relatively free of traffic � if not potholes.

When I first arrived in Sofia, the capital, I took a taxi into the city centre. Like taxi drivers all around the world, he chatted intermittently in broken English, enquiring as to where I came from. (I always say Manchester, even though I only actually ever lived there for six months, but I am from that region and it is always a good talking point � just mention Manchester to any Thai and you�ll know what I mean)

Besides I am not going to say I live in Phuket � too confusing. As we approached the city the traffic began to build up, but no more than you would expect when approaching the junction at Central Festival. At this my driver began complaining bitterly at the terrible congestion that had now overtaken the city. I told him he should try visiting Bangkok.

Anyway the point I am finally arriving at is that, when reading overseas property magazines and watching the TV in the west, invariably Bulgaria features prominently as a great tip for the investor.

Only very occasionally does Thailand get a mention. But there is no comparison in what these two countries have to offer. OK, if Bulgaria gets into the EU � as it is expected to in 2007 � it will benefit greatly from huge sums of money pouring in, while much of the male population will head directly for the more prosperous countries of Western Europe to try to make their fortunes.

But Bulgaria is nothing special � it�s just cheap. In fact, it�s very cheap � a nice meal in a good restaurant will set you back considerably less than it would in Phuket.

Excellent wine is also incredibly cheap, providing of course you stick with Bulgarian vintages, with which I was very pleasantly surprised. There is a huge selection of fine Bulgarian wine available, and the Cabernet Sauvignons are exceptional.

But, as for the culture, the scenery, the infrastructure, Bulgaria does nothing that much of Western Europe and the rest of the world do considerably better.

This is where Thailand differs. Thailand is the cream of South East Asia, not the poor relation. It is much more than that: it is one of the top destinations in the world, but it still offers incomparable value in almost every department.

The quality of property now being offered in Thailand is among the very best in the world. Some of the developments now being built on Phuket are world-class, and they no longer represent a small percentage of the market.

What is even better is that this is having a very positive knock-on effect on the cheaper properties. Developers are building better homes to live in and architects are at the cutting edge.

Purchase a new apartment in Bulgaria and they later tell you that the kitchen isn�t included and, when it finally arrives, it is certainly not state-of-the-art. Luxury package here means wood instead of Formica � a word they use here like it�s a new thing.

Why wood is a luxury in Bulgaria is anybody�s guess � maybe they export most of it, I don�t know. What I do know is Bulgaria is covered in it. At one point, when we had driven a few hundred miles to the Pirin Mountains, my wife said if she saw another tree she would go quite mad. Bulgarian wages are also comparable with Thailand�s; with the average here still less than 500 baht per day.

There are signs of improvement but this is no Latvia. Bulgaria�s past battles with hugely superior and cruel neighbours have left their mark, and you cannot help feel that progress will happen, but it won�t be quick � not even if they get into the EU. Anyway, that�s the last of my Eastern European features, I do hope they haven�t bored the pants off too many of you.

One kind reader emailed me about my last column where I compared Thailand to Latvia and apparently enjoyed it immensely. By the time you read this I will be back in beautiful Phuket after being away seven long weeks, and my next column will be from home � Phuket, that is, not Manchester.

David Wade
Tropical Homes Real Estate.
Tel. 076-326-125.
www.tropical-homes.net