Bulgaria Ski discussion board

lisa, I was in Bansko last week in what is classes as one of the two busiest weeks of the year and was shocked at the low occupancies of accomodation.
Not only were the vast majority of finished apartments empty but thousands more unfinished ones were being built. I was also informed by my ski instructor that developers had walked away from half built developments due to lack of buyers.
I would say that you will have to be very aggressive in your marketing to get any return.
There are always two sides to every story, I talked to people who have apartments and they say that they are great, call me suspicious but I think they were just trying to protect their own interests.
I have been to Bankso for the last two years and on both occassions have been disappointed by the build quality and I personally would not be investing there.

lisa

I hope your not relying on the income to pay for them, I echo Gogs on the build I stayed in an appartment there two years ago and the finish wasn't the best. Its not just bulgaria but anywhere in Europe if you rely on the income don't touch them, I have a property in Spain, I dont need any income from it and only rent to friends and family out of five years last year was the only year it covered it self and we dont have a morgage.

If you were able to sell one of the appartments I would, although I don't think it will be that easy, your other option would be long term rent to a local. This has happened in Spain where people were told they would get a good income and it hasnt happened. I don't mean to patronise anyone but if you take a good look at the development in any of these areas in europe and you can see return is going to be low. Good luck and as Gogs says if you need it filling you will need some dame good marketing.

And it is going to get worst before...Now even BG banks are shrinking their loan procedure so on the horizon there are quite few developers on the verge of stopping and geting out.Don't buy off plan dont rely on promises for views ,maintenance fees, burstling life around your place,rental return figures, new lifts built next door and the lot of bul of the estate agents.Their tricks are changing all the time so don't leave your brain in the airport locker before you go fly out to look for purchase.
One other major factor which is having a hammering on all this is the huge price risings for everything from furnitures,food,drinks,medicines and the lot.Even the seasonal produce is hicked up.
Go see the place think that if it looks just Ok now during the winter season in the summer will look worst.
All of the other places too not much improvements in Pamp and Boro I am affraid.
It will be protection entries on this forum from anyone with one already purchased no doubt.I would expect that anyway.Sit back, read the entries, have fun and enjoy the ride

I've bought a 1 bed in the Grand Monastery in Pamps. It's just completed and looks amazing inside and out. Located right at the mid station with facilities of a 5* hotel including full spa, bowling alley, night club, swimming pool etc. However, common sense must prevail. When I started buying it, 2 years ago, I was told nothing else would be developed around the midstation and while the location and views are one of the best in the area, there are now a lot of other developments popping up.
I don't completely regret my decision to invest, but if I knew then what I know now, ( hiking prices, poorer snow conditions, over supply), I would not have invested.
I am fortunate in that I do not have to rely on the rental income and at the end of the day I have a beautiful apt in an amazing complex, in a prime location, in a ski resort I love, it will be an added bonus if it makes loadsa money and in the long term, there's nowt as safe as houses.

Stevie D I totally agree there's nowt as safe as houses but only where demand out strips supply. Unfortunately I think in the ski resorts it is the other way round.
Hopefully people who have invested will not get their fingers burnt, but I think they are going to have to stay in for the long haul to see any sort of return.
I think to many people have been seduced by the property programmes on TV. In the short term the only thing investors are going to get is grey hair.
On that note I better check how my shares in Greacian 2000 are doing.