the9907: Bulgarian Property Market Insight
Because of the increasingly rapid rise in foreign interest in Bulgaria recently, several more .... Veliko Tarnovo is probably Bulgarias most touristic city, ...
the81445.blogspot.com/2008/01/bulgarian-property-market-insight.html
the9907: Bulgarian Property Market Insight
hese are located at Ihtiman, opened in 2000, 40km from Sofia, and at Sliven, opened in 2004, 90km from the Black Sea.Because of the increasingly rapid rise in foreign interest in Bulgaria recently, several more golf courses are proposed. hese will be located at Razgrad, in the north-east, about 90km from the Black Sea. Kavarna and one at Primorsko, near Sozopol.Mountain and ski areas will be represented by a golf course in the ski town of Bansko this year, and a very large golf complex between Kostenets and Borovets, the country's foremost ski resort. ansko is an old, traditional residential town with lots of character and no fewer than 180 quaint taverns full of local people singing and dancing to a typical Bulgarian folk band. resort, with hotels, modern west European-style bars and night-clubs, cafs and restaurants. ansko has left the supply of holiday accommodation woefully short of the demand. seems unlikely that even these will be able to satisfy the demand for accommodation for several years yet. prices for such apartments range from 1,000 Euros per sq.m. eased in June!In this respect Borovets, again, is different. Bulgarias first and best-known ski resort, it stagnated for years until now. lise the whole region around the town to a radius of 10-12km. started to affect property values in the surrounding areas. unseen, a half-acre plot in a village 15km from Borovets. ansko effect can strike around Borovets at any moment. Bulgaria Properties Ltd is developing four projects here, and only two in Bansko. sell these apartments about 15% cheaper at the moment, anyway. property bought: land, a shack, whatever. Bulgaria Properties Ltd is the only developer building them. g.Bulgarias third ski region is at Pamporovo, which, like Borovets, is purely a resort. starting to come in, but full development, if it happens at all, is likely to follow several years behind Borovets. Sofia (a days drive) makes it less attractive to visitors from north and west Europe. Bulgaria Properties Ltd has no developments here is because Ill probably have retired before the boom happens.How does a mountain area investment compare with coastal properties?Significant differences yet again. Black Sea coast resorts, from Varna down to Sunny Beach. Bulgarian governments Bulgaria the Beautiful TV campaign back in the 80s, and the subsequent interest of package tour operators. hose in the north, but the gap is closing. ussed the subject with the Chairman of the Bulgarian Foreign Investment Agency last year an extremely intelligent and able young man, I must add he told me in no uncertain terms that he did not want the south to become like the north. see the coastal resorts basking in the hot summer sunshine, its difficult to imagine snow on the ground. season from May to September, compared to nine months in the ski areas. hose people buying only for rental income, therefore, will find the mountains far more lucrative. ski properties than those on the coast because of the longer ski season. ski apartment and about half that on the coast.Rents vary greatly, and depend on many factors, most of which should be obvious: location, size, view, amenities. property can also determine your market quite radically. property must be well finished and appointed, and be in tip-top condition. ause they pay much less, usually about half of the west European rates.Generally, summer rental rates on the coast equate to winter rates in the ski resorts, both seasons being about five months. hese rates should increase gradually, as the Government programmes to make the ski towns more popular for summer holidays make their mark.There are several Bulgarian agencies willing to manage your rental properties for you. properties in the countryside?Not a serious contender in the ROI stakes, I think. property very cheaply indeed in the inland areas, away from the resorts. case to the bedrooms, no bathroom, and the toilet is in a shed in the garden. property is great for buyers who want to get away from their homeland, and disappear in the beauty of nature permanently. self-builders or DIY enthusiasts, prepared to do it for fun, and accept a low return on their financial and physical investment. cities?Again, there are differences, even between cities. seconded by foreign companies, usually on a long-term basis, and this demand should increase as 2007, the year of Bulgarias accession to the European Union, approaches. properties by Bulgarian standards, its still only the price of a tarted-up Victorian terraced flat in a UK provincial town.Theres virtually no market for tourist rentals in Sofia, as its probably the least interesting European capital city. 7.Plovdiv, the countrys second city, is much more pleasant. town, as well as modern business districts. property here do so to make it their main home. city itself is beautiful, and it has everything a townie needs. place to retire to.Theres one more thing which is important enough to mention: Mineral baths. hese exist all over Bulgaria, the most significant being at Narechen, south of Plovdiv, and Momin Prohod, near Kostenets. Bulgaria among the foremost in Europe for hydrothermal, bioclimatic and mud treatments, sea cures and other health resources. e@BulgariaProperties.net, or call the company at +44 (0)871 226 2296 to order a free 28-page hand-out, or just for a chat, if you prefer.