Bulgaria Ski discussion board

Has anyone bought at the Bansko Royal Towers? Stayed there last month at a friends appartment, he bought a 2 bedroom apartment for around £100,000 and it has already increased in re-sale price. It's in a superb location, 100metres from the Gondola and has on site spa facilites which were excellent. The building its self is owned by the former Bulgarian president and I have to say the build quality was rather good, we were the first people to stay in it so there was a few teething problems but other that, if there are any left i would recommend people investing there.

Make sure you can afford the cost of the mortgage without any rental income, make sure you buy in a premesis you would actually want to use yourself - there are far too many tiny sub 30msquared studios which are no use at all.

Id IF once you research you decide to buy the following have to be on your must have list:-
Indoor pool
Saunas
Steam rooms
Ski lockers in the basement
resteraunt
bar
buy on the 3rd floor or above

And if your going to be using it in the summer then outside pool a must - I know there is a pool in Dobriniste but thats a taxi ride away. Pirin Golf club have many outdoor pools and so do the other classy developments.

Also be prepared for a lot of hassle an additional work in filling out your self assesment form getting the double tax rebates, thinking about where to finance it from be it equity release from the UK vs forign mortgage - pros UK equity release fixed outgoings well they could flex due to interest rates but thats it get a forigm mortgage then assuming your renal income doesnt cover the mortgage you need to tfr money overseas every month and then you clearly have the following risks exchange rate could go up or down interest rates could go up or down and renal income could go up or down. Overseas bank accounts may not have web access so your waiting upon your statement.

Finally have you actually tried to call Bulgaria from an office phone needing to dial 9 to get outside line first? If not try it and you will find its impossible to get through only with a home line or mobile can you do it.

Having said that all the hassles and the assumed knowledge they expect you to have I have bought a couple of places. Would I do it again? MYes for the places but the buying process drives you insane.

You'll be spending a lot on UPS....