September 18, 2006
Overseas property in winter resorts: Bulgaria
It seems that ski investment properties in Bulgaria are to be the investment choice de jour due mostly to mass media marketing of the country. Bulgaria has been promoting itself as an emerging market. It also boasts of its winter sports tourism.
Property prices on the slopes of Bulgaria are relatively lower than in other European countries like France or Switzerland in spite of the fact that they have increased considerably in the past few months. “As Bulgaria is still an emerging market, entry prices are still very low,” claims Mark Collard from Jigsaw Properties. “As Bulgaria will soon be a full member of the EU, this will ensure that money continues to be invested in infrastructure and provides more stability and security for the investor.”
Presently, millions of euros are being spent to transform and develop Bansko, a small town in Bulgaria. “Bansko is probably the most talked about region of Bulgaria as it offers great skiing for all levels, the town has lots of character and lift tickets and food and drink are very inexpensive”. According to Collard, Sofia, the capital city of Bulgaria, has also plenty to offer. “You could potentially land at the airport and be skiing within half an hour. The number of people living in Sofia has nearly quadrupled in just four years, and so the rental market is strong and there is a demand for quality properties. Ski properties in Sofia will also offer year-round rental opportunities as it has dual appeal to skiers and to people that live in the city.”
Prices start at around £30,000 for a studio apartment in Bansko. A two-bedroom property would cost around £65,000. Over at Sofia, ski properties start from £31,000. Two-bedroom apartments cost around £113,00.
Experienced skiers might be disappointed in Bulgaria. It is not like Chamonix, but budgeted investors or beginners might want to consider buying now before Bansko’s transformation is complete and property prices are still reasonable.
Posted on: Bulgaria
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