Friday, December 15, 2006

Bansko Ranks 8th in the Top 30 Chart of Holiday Housing

The Bulgarian ski resort of Bansko ranks 8th in the top 30 chart of holiday housing according to a survey of Investment and Development Company Westhill Investments, the Monitor daily informs.
The biggest Bulgarian ski center is about to turn into one of the most wanted European ski resorts. Westhill Investment plans to build a luxurious complex in Bansko named Panorama Villas. The aim of the company is not only to build resorts but also to advertise Bulgaria as an attractive tourist destination.

Monday, December 4, 2006

Skiing

The next few years could see a boom in the Bulgarian holiday home market as the country takes its place as a great family ski holiday destination.

A new survey found that the demand for skiing breaks in Bulgaria has seen a significant increase, with resort Bansko entering into holidaywatchdog.com's top ten most popular family ski resorts.

The top 30 saw three other Bulgarian resorts named as popular destinations and the entry of the country into the EU next year is sure to see interest strengthened even more, website TravelConnect.co.uk reports.

Dominic Hicks, director of property investment and development company Westhill, advised investors on buying homes in the country.

He said: "The key to successful property investment is to maximise both rental income and capital growth.

"Too many people buy a holiday home because they like an area, without doing the maths, thinking they will get free holidays and have a money making asset."

But he urged Britons to realise the potential that Bulgaria has as a great skiing break destination, saying: "Most people don't appreciate what a great country Bulgaria is – the rich history, culture, cuisine and areas of outstanding natural beauty are largely unknown to Brits."

PROPERTY NEAR AIRPORT BECOMES MARKET HIT IN BULGARIA

The lack of industrial, retail and storage area properties in Bulgaria's coastal city of Varna would make the area near Varna airport a property market hit, Real Estate Association of Varna said as quoted by Dnevnik daily.

Areas there featured unoccupied agriculture plots, close to the city and to the roads, Dnevnik said. Several investors that would create working places were interested in the area.

The region could become a huge industrial complex in the forthcoming years, Dnevnik said. The region was the best one in Bulgaria regarding transport connections. An airport, a port, a railway station, a ferry complex and two highways were located nearby.

Nearly 50 per cent of the properties near Varna airport were for sale. Most of the sites were located on both sides of Hemus highway an were rather big, from 6000 to 25 000 sq m.

The highest price was 52 euro per sq m. The average price in October 2006 varied from 30 to 45 euro per sq m.

Bulgaria Set for Ski Tourism Growth

Bulgaria is set to become one of Europe’s top family ski resorts, a surprise survey result confirms.

A survey from Holidaywatchdog.com into the most popular family ski resorts has revealed a surge in demand for ski holidays to Bulgaria with the up-and-coming resort area of Bansko making a surprise appearance in eighth place. Three other Bulgarian resorts also featured in the top 30.

Bansko is located in the Pirin mountain range, which with its network of groomed slopes caters for all grades of skier, from novice to expert. The ski season opens in December, with snow guns allowing skiing down to the village well into April. The mountain peaks near the town, the numerous lakes and numerous old pine woods make Bansko a popular place for recreation, sport and tourism and is set to grow as a tourist destination in the coming years as Bulgaria joins the EU in 2007.

In recent years the town has also gained international popularity through the booming development of tourism and cultural events, such as the prestigious annual Bansko Jazz Festival. Bansko is a centre of winter and summer tourism. The summer season lasts from June to October. Banya, 5km away, is famous for its 27 thermal mineral springs.

Dominic Hicks, Director of property investment and development company Westhill, believes the Bansko region is well placed for tourism growth. So much so, that the company has decided to site its landmark Panorama Villas complex of luxury apartments, villas and penthouses in Bansko. Westhill’s development, with a ski storage area and heated boot room, is only 2km from the Bansko gondola ski station. A private shuttle service will to operate to and from the ski village.

“The key to successful property investment is to maximise both rental income and capital growth,” says Hicks. “Too many people buy a holiday home because they like an area, without doing the maths, thinking they will get free holidays and have a money making asset.”

Hicks believes most investors would be better off keeping their money in the bank, because they choose ski or beach destinations with very short letting seasons, but the Bansko region, with its winter and summer tourism options, differs. Westhill, by offering skiing, golf and spa facilities, offers a 10-month holiday season.

“We’re not just about selling our properties, we want to promote Bulgaria as a holiday destination,” Hicks continued.

“Most people don’t appreciate what a great country Bulgaria is – the rich history, culture, cuisine and areas of outstanding natural beauty are largely unknown to the Brits.”

Bulgaria Breaks New Record in Property Sales for 2006

Low prices, long-term investment prospects and changes in lifestyle have fuelled record-high property sales in Bulgaria for 2006, a realtor data shows.

The year-end count of transactions is forecast to reach 260,000 at a combined value of more than EUR 5 B.

The experts comment that following the massive 25% to 30% annual capital gains of recent years, Bulgaria's property market is now showing a much more realistic growth rate of 15% so far this year, setting the pattern for more predictable and sustainable long-term investment.

EU membership in January next year, the nationwide development of major tourism and infrastructure projects, the planned expansion of low-cost airline routes in 2007 and mortgage facilities remain the main attraction for making a property purchase in Bulgaria.

The trend to buy a home abroad has now moved to a new level with more and more people buying overseas with the intention of emigrating. Recent research findings show that over half of UK homeseekers aged between 18 and 29 would consider buying abroad and the UK Office of National Statistics has reported that some 198,000 UK citizens, almost 4,000 a week, left the country last year to live overseas. The number of Britons living in Bulgaria has doubled in the past year alone, with more than a thousand British families given residency here.

Friday, December 1, 2006

British snooker star loves Bulgarian property

Bulgarian property has been attracting the type of property investors who may have never considered buying property abroad. one such potential buyer , he has recently set his heart on buying a house in Bulgaria.
"Mr Maximum", as he is known in the snooker world because he holds the record for maximum 147 breaks, hopes to pot a house at Lighthouse Golf Course at Balchik.
Just 20 minutes away from Varna and the airport, Willie is hoping to buy a £180,000 three bed-roomed house with three bathrooms set right on two new courses designed by top players.
And according to the December issue of Quest Bulgaria, the lspecialist English monthly magazine about Bulgaria and Bulgarian property, he just needs the agreement of his second wife, the 1985 Miss Great Britain, Jill Saxby.
Willie, now 52 and from Leicester, went to the country on a whistle-stop tour having been persuaded by a property developer friend of his about the possibility of introducing snooker to the country.
"They play a game called pool billiards but snooker is unheard of," said the TV commentator and current World Senior Snooker Champion during his trip. "I hope to introduce the sport to this country and, perhaps, in the future hold a championship here.
"But while I was here I decided to look at some property. Spain and the other countries are so expensive - here you can't spend #30 on a dinner if you tried," Willie, snooker's former world number seven, adds.
"It might catch up with the other European hotspots eventually but at the moment it's so cheap," he said.
"The house I'm looking at is between two golf courses; Ian Woosnam has designed one of them and Gary Player the other; they are spending a fortune. The house has a small garden and a pool - ideal when we bring our five kids over here."
No mean golfer - he plays off a 10 handicap - Willie is planning ahead. "If I move here I'll play every day. But getting my wife to agree is the thing," he said.
"I've only been over here for a few days but from what I've seen, I love it and I think when I bring her out, Jill will too.
"Bulgaria is the new Spain and I like it very much. If I buy, it will be for summer use - a holiday home - and we're back again before Christmas.
"The other advantage is the travel. It's just 20 minutes from the airport so when the cheap flights start I'll be able to hop on an aircraft in the Midlands and be here in just a few hours."
And Willie, who owns a snooker club in his home town of Leicester, is looking to open a club in Bulgaria.
"Not a seedy back street beer hall like many think of snooker clubs, but somewhere nice where you can bring your friends for a drink, for food and of course for a game," he said.
Said Chris Goodall, MD of Quest Bulgaria, "Willie is just one of many celebrities who can see the attractions Bulgaria has to offer. Property prices are still good with the cost of living very cheap. And the country itself is beautiful with a great deal going for it."
View a huge selection of Bulgarian property.

Foreign Tourists tо Land in Plovdiv on Their Way to Ski Resort of Bansko

British and Irish tourists form more than half of all foreigners to land at Plovdiv airport this year, the local Struma newspaper reports.
It is the third consecutive season with no flights planned to and from Germany. It seems that the German tourists lost their interest in Bulgarian resorts in the recent years. However, the number of foreign tourists from other countries continues growing.
Plovdiv turns into a way stop for tourists going to Bulgarian winter resorts – Pamporovo, Bansko and Borovets. The growth of the number of flights realized by the airport in Plovdiv is expected to be more than 20% in comparison with the previous year. According to preliminary expectations the number of winter tourists arriving at the Plovdiv airport will reach 70,000.

Tuesday, November 21, 2006

BULGARIA'S BANSKO UNABLE TO ACCOMMODATE INVESTOR INTEREST

09:00 Tue 21 Nov 2006

Investor interest in Bulgaria's winter resorts was so high, that leading resorts could no longer accommodate it, Capital newspaper reported.

As a result, a number of projects were going to be carried out in nearby villages. Investors were moving away from Bansko and starting to turn their attention to Razlog and Dobrinishte, the report said.

Betlovoto area, located close to Bansko, will soon host a new golf course, Capital reported. Such projects constantly increased property prices in Bansko's nearby areas.

Over the past years Bansko municipality issued over 300 construction permits. Investor interest was switching from hotel construction to residential property, Bansko mayor Aleksander Kravarov said.

Such developments could lead to apartment over-construction, said Kravarov. To deal with the problem, Bansko municipality ordered a temporary construction ban. The ban affects only Bansko and is not valid for villages located nearby.

A month before the start of the winter season construction works are ongoing in Bansko and property prices remain stable, Capital reported.

At the same time the investment zone is expanding. High prices within Bansko made investors look for opportunities in nearby villages.

To ensure the equal development of the entire region, Bansko municipality had to set up quality infrastructure, Kravarov said. Bansko already faced some problems with electricity and water provision, Capital reported.

http://www.sofiaecho.com/

New property development plans in Bulgaria

09:00 Mon 20 Nov 2006

Recent days brought the newest rash of announcements of planned property developments.

In a statement to the Bulgarian Stock Exchange, real estate investment trust Liam said that it had bought 10 plots of land, of a total area of 23 849 sq m, in the village of Lokorsko, about 15km from Sofia.

The use to which the land will be put was not immediately stated. Liam’s previously-announced development plan was for a 35 000 sq m gated tourist complex of apartments and commercial space in Bansko or another winter resort.

On November 9, Spanish real estate company Riofisa announced plans for a 215 million euro commercial and entertainment centre in central Plovdiv. The complex will have retail, hotel, office and residential components in a combined area of 140 000 sq m. Riofisa previously announced plans to build a 210 000 sq m commercial and office development near Sofia’s central railway station. The Sofia project is due for completion in 2010.

Another Spanish company, Fadesa, said on the same day that it would be building a 23 million euro, 36 800 sq m commercial, office and high-rise residential complex in southern Sofia, with construction due to begin in three to six months.

Outside the cities, construction giant Balkanstroy is to build a 240 million leva ski and golf complex in the Kulinoto area near Razlog, south-western Bulgaria. Completion is due within three years. The company will be building 20km of ski lifts and 60km of runs with capacity for 6500 skiers a day.

Meanwhile, although it is unlikely to influence buyers of single residential properties, a new report has confirmed that Sofia remains the most expensive place to live in Bulgaria.

According to the Industry Watch cost-of-living index, released on November 14, the capital city is the most expensive place to live, followed closely by the Black Sea cities of Varna and Bourgas. One lev buys 25 per cent less services in Plovdiv than in Sofia. Life in Rousse is cheapest among the larger cities, about 20 per cent cheaper than the capital, according to Industry Watch.

http://www.sofiaecho.com

Monday, November 20, 2006

BULGARIA AND ROMANIA TO MARK HIGHEST EUROPEAN GROWTH IN RETAIL PROPERTY- REPORT

11:45 Fri 17 Nov 2006

Bulgaria and Romania would register the highest growth in newly build retail property by the end of 2007, a real estate company Cushman & Wakefield report said.

The retail property growth would reach 150 per cent by 2007, the report said as quoted by the Romanian English language daily Nine O'clock.

Trade centres covering a total area of 98 000 sq m will be built in Bulgaria by the end of 2007.

Once Romania enters the European Union, it will become the second biggest retail property market in Central and Eastern Europe after Poland. Romania plans to construct trade centres of total area of 560 000 sq m.

The countries from Central and Eastern Europe would register the highest growth in retail property supply, the report said.

http://www.sofiaecho.com/

Thursday, November 16, 2006

I remember ... when I was in Bansko

Travel notes by Eric Jackson, www.manchesteronline.co.uk, October 2004

We've all come across them - those smug people who boast about how they enjoyed holidays in wonderful places before they were spoilt by mass tourism. "Oh yes, Doris and I loved the quaint charms of Benidorm when it was nothing more than a fishing village" or "When we discovered Faliraki, there were just two tavernas, a dozen donkeys and the only entertainment was a single bar playing bouzouki music" are familiar mantras.
Sickening, isn't it? But now it's my turn. Bansko, a ski resort in Bulgaria, is quaint, unspoilt, charming, haunting and more.
But you can bet your bottom euro that it won't stay that way for long. Because Bansko has got such scope for development that, 10 years down the line, it could be just like any other homogenised ski resort.
So take this tip: get there as soon as you can. Bansko is barely known even to those people who have skied in Bulgaria. Most of the country's ski tourism is concentrated in the resorts of Pamporovo and Borovets, which are cheap, cheerful and very brash, with the architecture reflecting the old Communist era, but the commercialism embracing the new capitalist ethos.

Secluded
None of that applies to undiscovered Bansko, secluded in its own natural bowl surrounded by high, snow-capped peaks on three sides. When we first arrived on the transfer coach, we thought we were in the largest goods yard in Europe, with railway lines, warehouses, factories and apartment blocks littering the landscape. This, it seemed, was a working town similar to hundreds of others in eastern Europe.
But then you come to the centre, which is like something from a medieval fairytale. It looks like the set from Disney's Beauty And The Beast, with ancient timber properties and windy streets, and the aroma from wood-burning fires filling the air.
But, most amazingly, it's just so quiet, with no apres-ski yobs, loud discos or blatant signs of commercialism. All of which would be as relevant as a snowflake on a barbecue if the actual skiing wasn't any good.
Luckily, the skiing is fabulous, with great pistes set in the Pirin Mountain national park.There's just one hitch - at the moment - the pistes don't always effectively link up. Come a high wind or ski lift breakdown, and it can be hellish getting from one slope to another. And, in truth, there aren't hundreds of pistes - yet.
On several occasions our ski school, which allowed parents to be in the same class as their children, had to be transported across the mountain by a 30-year-old Russian army truck. But, we were assured, that will be a thing of the past this season, with new lifts making the resort fully integrated. It will have to be, with visitors expected to increase by 50 per cent.
They will be accommodated by newer hotels and apartments springing up near the recently-built gondola, but my recommendation would be to stay in the Hotel Pirin. It's bang in the centre of town, next to the main square, and it's a bus-ride away from the gondola, but its proximity to the restaurants and shops outweighs the inconvenient distance from the slopes.
Our room, with the largest double bed I've ever slept in, was better than anything I'd had in an Alpine ski resort, and the spa and pool were clean, luxurious and - most importantly after a day up a cold mountain - very warm. The bar and lounge were equally welcoming. But, as is the case with most Bulgarian hotels, the food is at best OK - decent enough for breakfast, but highly avoidable the rest of the time.

Excellent restaurants

In Bansko, though, there are plenty of excellent restaurants, or mehanas, within easy walking distance, although at first it's tricky to spot them, as they often look like someone's front room, with just a couple of subtle lights in the windows.
We visited a different one every night, ranging from good to amazing. The best, tucked down a side street, which you'll never find unless you get good directions from your rep or hotel receptionist, is called Chardaka Lialeu. It served up course after course of specialist Macedonian food, along with a litre of Bulgarian Cabernet Sauvignon and soft drinks for four of us, and the bill was just ?15. In parts of Switzerland that wouldn't even cover the tip.
That value applied to all the mehanas we visited, and often we'd be treated to a Macedonian folk band playing frantically within eardrum-shattering distance. And the waiters still found the presence of British people a novelty.

When one discovered I was a Manchester City fan, he couldn't stop eulogising about Robbie Fowler and Steve McManaman, because he supported Liverpool. If only he knew what they were like now.

Unlike Borovets and Pamporovo, Bansko has little in the way of fast food, so no Pizza Hut or McDonald's dumped incongruously amid the medieval beauty. That absence of western ``culture'' was what made this holiday extra special.

However, there was one hideous blot on the idyll. Every day, before ascending the mountain, we'd have a coffee in the otherwise decent modern cafe near the gondola. And every day we'd hear a tape with Roy Chubby Brown and old Yorkshire rockers Smokey singing ``where the **** is Alice?'' As the locals aren't that well up on the English language, we'll give them the benefit of the doubt, but{hellip}

One person who was well acquainted with the language, though, was our ski instructor, Chavdar, who spent his summers working on golf courses in America. He knew how to tell us we were rubbish in many different ways.

Not that he really put us to the test - most of the time he had us tootling down the ultra-easy blue runs or snow roads. That seems to be a pattern in Bulgaria - ski instructors sticking to the mild stuff, especially in beginner or intermediate classes, to avoid injuries to their clients which, we were told, they get penalised for financially.

As it happened, my daughter, Florence, slightly hurt her thumb on the second day, and Chavdar insisted we visited the ski clinic, where the X-ray revealed it was just swelling. The doctor must have wondered why we were smiling so much, considering our daughter's plight, but we couldn't get over the fact that in between reassuring us and taking insurance details, he kept taking drags on his fag.

But that's Bulgaria, and especially Bansko, for you. Unlike any place I've ever been before. Strange but magical.