Investment in Bulgaria-Bansko

N

nolie

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I am going to Bansko soon with a view to buying an investment property - any advice. Would Sofia be a safer bet ??
 
Re: Investment in bulgaria

You'll form your own opinion of Bansko when you get there. I don't like the place because there is no end to the amount of construction going on there and it will continue for years.

In Sofia there is an over supply of residential but an under supply of good quality office accomodation.
 
Thank you for the honest advice - I have been having difficulty getting a true view of this as an investment . A large number of the Websites are geared towards those selling off-plan properties.
Are you aware of any sites which give a good insight into the real investment opportunity
 
No sorry. Every website is really just promoting the sales of Bansko. They say that Bansko has the best skiing and longest ski runs (longer than borovets and pamporovo) but my worry is that it becomes over developed. The Bulgarians have ruined Sunny Beach with far too much development and you can pick up apartments in Sunny Beach cheaper than you could have a year ago as long as you go to Sunny Beach and deal with developers directly. Bansko is heading the same direction. Close to the mountains there's miles and miles of agricultural land which is being regulated and built on. It's not as if there's a shortage of land to build on so over time they will run out of space. There's tons of space. Of course the premium ones will be the ones closest to the all the action (town and gondola) so if I was buying I would buy a really nice 2 or 3 bed apartment close to the gondolo with great facilities or I would buy a villa on the golf course that they are building close to Bansko. There are far too many 1 beds and 2 beds are easier to rent.

I really don't know where bansko is going. You'll hear talk about the winter olympics and it's the new andorra etc etc. As I said you'll form your own opinion. I think the resort will eventually be ruined with over construction but who knows.

Good luck with your investment (by the way its 2 1/2 hours drive from Sofia to Bansko).
 
Hi Nolie,
Just don't get talked into anything - these agents can be very persuasive when you're on the spot.
For what it's worth from what I've been reading Sofia seems a better bet than Bansko, but again it's all about location.
A friend of mine, an avid skier said that they'd need to develop better slopes as the skiing there would not attract serious skiers.
 
Also remember that guaranteed rental generally means that you pay for the rental up front and then they give it back to you!! (i.e. included in the price that you pay for the apartment).

By the way, I picked this off a bulgaria forum which shows that not everybody thinks it's over developed:

I've been Snowboarding all over the world for the last 10 years or so. I've also been to Borovets,Pamporova and Bansko. Borovets is ugly, has mediocre runs,very little off piste,but a good feel to the place. Pamporova is a beautiful looking place, but hardly any runs-if you are an intermediate or more, cetainly not enough to keep you occupied. Bansko has the best points of all the other Bulgarian resorts- pretty, adequate runs,plenty of off piste-it is much bigger than the other resorts- and overdeveloped- NO WAY- Bansko is a big town, and has the room to deal with it- this could be an awesome resort- the more popular it becomes and with 2007 and possible Olympics in 2014, the future looks rosy- Value for money, good snowboarding, lovely people- I much prefer it too France, Andorra, Livivgno.
My opinion i know, but i have been to countless other resorts.
 
I was in Sofia last week and it was in terrible condition although possibly still a good place to invest Id look towards Varna as a better compared to bansko. Its a nice town and friends of mine have done well there lately
 
I have been to Sofia and Varna several times. I can't stand Sofia, Varna is a cool city!
 
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