We invested in Bulgaria in 2005 through a company called property invest ltd (varna). They introduced us to an investment opportunity in Kranevo Park, asked for the usual installments of money and then informed us that the developer cannot be contacted and we won't be getting our money back. We signed the notary agreement and gave them power of attorney to receive any money owed on our behalf.

They stalled us for 1 year with false promises of another investment offering a huge discount emailing us on a regular basis of its development. Now they claim to have sold up.

We have lost £15,000! We have been told we cannot get our money back and Property invest have buried their head in the sand. Take this as a warning if you consider Bulgaria as an investment.

Sorry to hear that you lost so much money with your investments. Those scams are horrible and really decreasing the attractivness of investing in foreign countries. Bulgaria is trying its best to establish a professional real estate scene, but there is still a high number of fraudsters around it seems.

Lately you also hear a lot about scams in Bulgaria. I think this is very bad for the country too as many investors are scared away - not good for the image definitely.
Sorry to hear that you had to experience that too!