Bansko property
In the last few months buyers have been showing increased interest in holiday properties in the big ski resorts in Bulgaria. However, the greatest interest is in the ski resort of Bansko and it is the place with the most concluded deals with holiday properties. The main reason for that is the decrease in the price of this type of properties which were the first to be hit by the crisis, as with some properties the price discount is as high as fifty percent and prices returned to their levels from 2005. At present, this type of properties is more accessible to buyers – not only to foreigners, but to Bulgarians as well. Another reason for the market segment to become more dynamic is the approaching of the winter season which inevitably increases the interest in mountain resorts and holiday homes.
The statistics of BULGARIAN PROPERTIES (www.BulgarianProperties.com)
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Bansko offers a wide choice of already finished properties which are sold at very lucrative prices. An example of such an offer is one of BULGARIAN PROPERTIES’ top listings – the luxurious development Belvedere Holiday Club in Bansko. In the last few months prices in the development dropped by over 37% and now an apartment there costs about 35,000 Euro.
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Bansko offers the most attractive prices
In the last 12 months the prices in the three biggest ski resorts in Bulgaria – Bansko, Pamporovo and Borovets, decreased at different pace. The decrease is greatest in Bansko but this is only logical as the construction of new developments there was most dynamic and the competition is higher. The prices of holiday homes in Pamporovo and Borovets also dropped since the beginning of the crisis but not at such pace as those in Bansko. In Borovets and Pamporovo the decrease is by about 10-20% and holiday homes retain higher prices making them less attractive than properties in Bansko. Moreover, another advantage of Bansko is that it is the best and most modern ski resort in Bulgaria.
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Will property prices in ski resort continue to fall?
The question which the clients of BULGARIAN PROPERTIES most often ask is whether the prices of holiday homes are expected to fall further. Generally speaking, prices will not continue to fall at this rate and if they fall further the difference with the current prices will be minimal and the choice of quality offers might be more limited than at the moment. Only properties whose asking price is well above the actual market price could undergo considerable change, i.e. if you are planning to buy a holiday home in a ski resort in Bulgaria, now is the right time to start looking for it.
Buyers' profile
According to data from the reservation system www.ApartmentsBulgaria.com, which is a trade mark of Property Management BG Ltd. – the property management company managing chains of holiday homes and hotels around Bulgaria, the profile of the tenants for the winter season has changed: while during the 2008/2009 season they were of various nationalities, the tourists for the 2009/2010 season are expected to be mainly Russian-speaking and Bulgarians. Moreover, the focus now is on developments offering a wider choice of amenities and extras.
Where in Bulgaria and what type are the most sought-after properties in the segment?
The most sought-after ski properties are the apartments in Bansko. It is the apartments because of their lower price and the fact that they can be managed easily and rented out to generate additional income. The resort is Bansko because the ski apartment market there offers the biggest variety of offers and the best prices.
Currently, prices of apartments in Bansko vary between 300 EUR/sq.m. and 1,200 EUR/sq.m. BULGARIAN PROPERTIES data show that properties priced between 450 and 600 EUR/sq.m. are the most sought after as in the more luxurious developments prices increase to 700-900 EUR/sq.m.
Photo:
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