• Health conscious Brits head for activity resorts



    If you’re looking for an overseas investment that’s sure to be guaranteed to be rented out, Paul Cooper, Director of Principal International, overseas property investment experts say you should consider the much promoted ski resort of Bansko in Bulgaria.

    Its stunning mountainous scenary is home to much of the development and government funding in Bulgaria and its all round appeal means occupancy levels can stay high all year.

    More and more of us are looking for activity resorts when considering a holiday, and surprisingly, ski resorts can provide this for the discerning traveller.

    In the summer months, Bansko offers hiking, fishing, white water rafting and all that you would exepect from an up and coming ski resort in the winter. With the recent addition of the Ian Woosnam 18 hole golf course, just about all of the sporting interests are covered.

    With the capitals airport only a 2 hour drive away and the very low property prices still available in Bulgaria, Bansko makes for an appealing choice for a holiday home or overseas rental investment.

    With the UK property market becoming out of reach for more and more buyers, the more adventurous of us are heading further afield, and with its joining of the European Union in January this year, Bulgaria’s profile is being raised higher and higher and attracting more attention from the serious investors. With occupancy rates reaching as much as 85% in the summer months Principal International say we should snap up the bargains while the goings good.

    via: http://www.principalinternational.co.uk/

  • Banking on Bansko



    At the end of 2007, Bulgaria was experiencing some of the world's fastest-growing property prices. But the property market in Bansko, a popular ski resort, is suffering from oversupply. The local government is planning to introduce regulations to reinvigorate the market.

    Where is it? Bansko is a ski resort town in the Pirin Mountains in southwestern Bulgaria.

    What's so special about it? Bansko is Bulgaria's biggest and best-known ski resort and was recently awarded "Best-Developed Ski Resort in Eastern Europe" by the 2007 Great Skiing & Snowboarding Guide. The UNESCO-protected Pirin Mountains are the second-highest mountain range in Bulgaria and the sixth highest in Europe. With 85 kilometres of slopes, 30% are designed for beginners, 45% for advanced and 35% for expert skiers. The highest track point is at 2,560 metres and the longest is 16 kilometres. The ski seasons lasts from December to May.

    Best-kept secrets The Mayor's Office in Bansko predicts there will be more than 800,000 tourists to Bansko this season. Undoubtedly, the appeal of Bulgarian resorts is that they are cheaper than other European alpine resorts. Accommodations start from $45 a night, and a week's pass costs about $210. Who's who? Ian Woosnam has designed golf courses in Bansko and famous skiers Alberto Tomba and Mark Girardelli have both set up ski schools in the area. What's the property market like? The Global Property Guide reports the country with the biggest increase in property prices in 2007 was Bulgaria, which rose by 30.6% nationally. However, Colliers International's Market Report on Bulgaria finds supply of holiday homes in the Bulgarian mountain resorts grew by 52% and Bansko accounted for 78% of new-builds. Oversupply is putting pressure on prices. The local government has placed restrictions on further development. Predictions are that sales will remain level for the next few years. Buyers' guide When researching Bulgaria, The Sofia Echo is the largest English-language newspaper and its bi-monthly PropertyWise magazine offers good leads. Buying costs can be high, up to 24% to 26%. A title search and survey is advised as legal risks are high. Non-residents cannot buy freehold land, so buyers have to set up a company to own land.

    What's the rental market like? Demand for quality accommodation is high, but rates are considerably lower than in many Western European resort locations. Hotel rates during the high season average $220 per night, and rents in quality resorts are $515 a week for studio apartments and up to $3,000 for luxury penthouses. What's the resell market like? The market is growing, but the resale market is unproven. Average property prices? Colliers International reports the average prices in Bansko start from $960 per square metre. Low-end properties start at about $42,000, while upmarket starts at about $120,000.

    Taxes & costs Foreigners pay 10% income tax on rental income; company corporate tax is 15%; property tax is approximately 0.15%; capital gains tax is 15% and VAT is 20%.

    via: Financial Post

  • German Inverstors Interested in Bansko Ski Resort



    German investors show interest in common projects with Bansko Municipality.

    This became clear during the visit of German ambassador in Bulgaria Michael Gayer in the resort town.

    He was accompanied by 12 member delegation of German - Bulgarian Chambers of Industry and Commerce leaded by its president Bertram Rollman.

    The German businessmen showed interest in the way Bansko develops.

    The German ambassador engaged himself to lobby for future contacts with similar German towns.

    It is previewed Bansko businessmen to be connected with firms and together to apply for common projects in infrastructure and culture exchange areas.

    ‘The aim is resources form EU funds to be attracted' the Bansko mayor Alexander Kravarov announced.

  • About Bansko in the Press

    Bansko: Eastern Europe's answer to Aspen. So runs the hyperbole about one of Europe's newest ski resorts. It's a buzz that the resort's developers are understandably keen to perpetuate. Millions of euros are being spent transforming this small Bulgarian town, which lies three long, lacklustre hours from the country's capital, Sofia, into something Brad and Angelina might head for when in Europe and desperate for powder.
    Unsurprisingly, given the hype, Bansko real estate market has been undergoing a boom. Brits are pouring their pension plans into buying up cheap ski apartments in anticipation that it willbecome another Val d'Isere once Bulgaria joins the EU in 2007. With prices from around £20,000 it's not hard to see why investors are joining the gold rush. 'I missed out on Croatia, but I won't make the same mistake with Bulgaria,' declare one British couple with almost evangelicalzeal in a property brochure.
    But are they right? At first the comparisons with Aspen are hard to fathom. There are thepotholes for a start. Millions of them, making a drive around the town far more dangerous than anything that could befall you on the slopes. It sometimes seems that Bansko's streets are simply a collection of holes occasionally interrupted by tarmac along which stray dogs wander. Then there's the endless building sites that make Bansko seem like the set for Auf Wiedersehen Pet and make for depressing horizons.
    And the hatchet-faced staff at the lift office who stare at you like they've caught you dog-napping their favourite pooch when you attempt to buy a day pass. I can't see Jack Nicholson giving up his seat at the Hotel Jerome for this.
    And then there's the skiing. Bansko's got only 65km of runs - 17 in all: one black, four blues, the rest reds. If you skipped lunch you could do them all in a day. And I'm not even sure the reds are really reds. They're more blues - or somewhere in between: purples? Admittedly there are plans to open up more of the surrounding mountains, but this will be some years off. Bansko is definitely not a place for advanced skiers or even enthusiastic intermediates.
    That said, I can't think of a better resort for those on a budget looking to start skiing. My hotel - the Orphey - was pretty good. Get rid of the harsh lighting and the pastel colours and it would have been really good. The four stars it had been awarded might seem a bit generous, but it was smart and clean with big rooms, many of which had balconies, a steam room and a blinged-up swimming pool in the basement that looked like it should double for a porn set. I kept expecting Ron Jeremy to walk in dressed as a pizza delivery man.

    Breakfasts and dinners in the hotels are usually buffet style. There is a good variety of fish and meat and lots of fresh fruit, vegetables and salad. Around 60 per cent of those in the Orphey were Brits and most seemed happy with the food - a traditional gripe in many ski hotels. The staff buzzed around efficiently delivering drinks.
    Once up the mountain the pistes are wide and excellently groomed. The lifts are modern: the gondola that takes you the seven odd kilometres from Bansko up into the mountain would be the envy of any resort in the world.
    Better still, when I went, in mid-March, the slopes were roomy with no queues at the lifts. A six-day lift pass costs £128. Six days of ski school will set you back just £100. Package deals are even greater bargains. Several people I spoke to were enjoying a week's skiing, with equipment, lift pass and a bed in a hotel for under £500. Food up the mountain is cheap too: gluhwein is about 70p, a pizza under £4, local beer £1, and surprisingly delicious kebabs £3.
    Boarders will enjoy the fun park and the half-pipe while the nursery slope is an easy introduction for children. And for those who make it to the top of the mountain, where they are rewarded with glorious, uninterrupted views across to the horizon, there is the added bonus of a 16km unbroken trip down into town.

    And this is where Bansko comes into its own. The mountain above the town is one giant forest which has been cleared in places to create well thought out pistes. The effect is an enchanting descent, which on Saturday nights is lit by lamps allowing for a memorable night of skiing.
    Apres-ski is not hard to find. Bansko has a population of 10,000, but 150 bars. Clearly, Bulgarians are thirsty people. Most of the bars are congregated around a central spine, the oldest part of the town which has some quaint, almost medieval-looking taverns that would not be out of place on the Lord of the Rings film set. Inside you are greeted by roaring fires and irritating power ballads that seem to follow you wherever you go. Memo to whoever wrote Foreigner's 'I want to Know What Love Is': head for Bansko, you will be worshipped as a god.
    In the taverns a lavish three-course meal for two with very drinkable Bulgarian wine (honest) will come to under £20 and leave you so stuffed you will wonder how you are going to make it back to your hotel.
    This is something you get used to in Bansko. Many of the hotels are a couple of kilometres from the slopes making it difficult to get around.
    Fortunately all of them offer regular minibus shuttles to the gondola station (a second station is in the pipeline) but at night you'll probably want to flag a taxi - not always the easiest thing to find. There is none of the street-hawking that some people have experienced at other Bulgarian resorts, notably Borovets. Incidentally, when I was there, skiers were being bussed in from Borovets, the country's foremost ski resort, because Bansko had better snow. Those I spoke to favoured the upstart over its older rival.
    In the evening there is a 'Brits abroad' atmosphere in many of the taverns. There's Sky Sports in some, quiz nights in others, while pub crawls and copious shot downing seem almost ubiquitous.
    For those looking for something else from their ski holiday, there is target shooting, bowling or fishing in Bansko's many surrounding mountain lakes. You suspect these activities will play a greater part in Bansko's future as the property developers look to turn the resort into a year-round destination to attract the hiking and mountain biking crowd.
    Indeed, in a few years' time given the money being thrown at it, Bansko is likely to be unrecognisable. Inevitably, this means prices will rise. Learners on a budget might want to get in before Bansko's transformation is complete.

    Essentials

    Jamie Doward travelled with Inghams and stayed at the four-star Hotel Orphey in Bansko, from £329pp half-board, including flights from Heathrow to Sofia with BA and resort transfers.
    Flights are also available from Bristol, Birmingham, and Manchester for a supplement. Pre-book your skis and boots for £76, ski school (four hours a day for six days) for £99 and six-day lift pass for £128.

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  • Bulgaria Holiday Homes Supply on the Rise

    The resort apartments segment of the Bulgarian real estate market is growing at an increasing pace, Bansko real estate consultants Colliers said on Tuesday.
    The number of such properties in the mountain resorts grew by more than half in the first six months of the year to reach 76,500 at end-June.
    The growth was most significant in the Bansko area, including Razlog, which accounts for 78% of the new supply, Colliers said.
    Supply in Black Sea resorts rose at a slower pace, but still recorded an impressive 39% growth, or a total 13,500 apartments, in the same peiord.
    Sunny Beach continues to account for more than one third of the supply in this segment, other resorts saw accelerated development as well.
    In St. Vlas and in Sozopol holiday homes supply increased by 52% and 62% respectively, Colliers said.
    But the overall sales prices in the resort apartments segment remained unchanged for the past half year as supply continues to outpace demand.
    Price ranges remained within last year's limits between EUR 800 and 1,700 per square meter, according to Colliers' data.>
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  • Bansko atractive ski destination...

    About town:
    Bansko is among those Bulgarian towns which Fate had destined to play a noteworthy role in the historic development of our, nation especially during the colossal national upsurge during the Revival Period. Its achievements cannot be touched by the relentless passage of time. They lie in the unique houses of Banskalii with their tall pinewood gates and carved-wood ceilings, in the architecture and the fine iconostasis of churches, in the daring brushstroke of the icons painted by local iconographers, for here Past and Present are interwoven in a way that is at once distinctive and original.

    About property development:
    Winslow Developments is an international investment company, working in collaboration with leading financial funds and big overseas property agencies. Going by its cooperative experience and knowledges, Winslow offers to the clients attractive opportunities to invest in the mountain resorts and in Sofia.

    About residental complex:
    The complex Mountain Residences is situated in the town of Bansko and consists of three buildings only a 400 m away from the first station of the ski-lift. The owners of the apartments and the guests enjoy the restaurant, covered pool, saunas, jacuzzi, fitness, hall for games and lobby bar. Every building has an elevator and ground and underground parking. This is one of the cosy and luxurious complexes, realized proudly by Winslow Developments.

    The mountain:

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