Bulgaria Ski discussion board

Coming out to Borovets for the second time in January 2016 and can't wait! Having seen the price of apartments in Borovets, and the potential return available, I'm quite tempted to combine the ski trip with a few viewings. We may well make visits on a regular basis owing to the price and quality of the ski tuition available, plus there's always the possibility of Super Borovets materialising at some point in the future!

I'd really like to hear from any others from the UK who have purchased property in Borovets - your experiences with estate agents, solicitors, the buying process, etc. Also, experiences with renting the property out - do you manage it yourself, or employ a management company? Any lessons learned that might be valuable?

Many thanks!

Hi Mark
I've owned property for rental in Bulgaria both in Bansko and Sunny beach. Rental returns are minimal and you will be lucky to see any return on your investment short to medium term.What you need to research firstly are the actual running cost such as, annual maintenance cost "charged by the complex management" cleaning, heating, and advertising your property. Forget any % returns guaranteed by any agents, its not going to happen. Then the season is very short perhaps ten weeks of high season when you have a reasonable chance of renting. What you have to factor in is some of your cost are based on a 12 month period.

My advise to you if your considering buying in Borovets is to invest for your needs. You are correct Bulgaria in general is a welcoming country offering relatively cheap summer and winters holidays coupled with great people. Invest wisely, take you time and don't listen to nonsensical sales patter like super Borovets or new airports, new ski zones, never going to happen. Finally, there are a number of people on this forum who either live or travel to Borovets regularly who could offer you valuable information as to good agents and popular complexes.

Hi Paul

I am a regular in Borovets and have a property not far from the resort. I can definitely help you with advice and agents. More than happy to assist as I know how much the help and advice assisted us when we were looking / buying. I agree with PeteC's reply in that do not count on anything adviertised to happen like Super Borovets. By the way this is now definitely not happening. Some agents will promise you the earth and not deliver so be careful. On the whole i think they are ok. I personally did not use a solicitor and the buying process for us was very easy.

Rivendell Property based in Samokov really helped us out so I'd recommend contacting them. She has also assited friends of mine too and done a fantastic job. The agents name is Sarah and she is British so it really helps if you don't speak Bulgarian as she is fluent. I have mentioned you to her so she may find you on here, but I have her contact details if you want them.

Are you a member of 'Borovets 2016-Snow, Skiing, Boarding and Everything Else - Information Group'? If not then click to join as it's pretty much the Borovets winter crew who are on there and it's a great group for info etc. Also you will find me on there should you wish to message me there to ask questions which might be an easier conversation than on here. Look for Derek Bellamy.

Just shout with any other questions.

Del-Boy

Hi Paul

Welcome to the forum and great to see you want to come back to Borovets - it is definitely one of those marmite places that people love or hate!

I am based here (with my Bulgarian husband) and work in Borovets for the winter season although not in the property business. There are however some great contacts / people here who can help and like everywhere, there are also some that aren't so good, so you have definitely come to the right place!

If you send me an email by clicking on my name or email me @ - info@bobbysbarborovets.com I will send you some contact details of people in the area who I am sure can help and whom can point you in the right direction.

Good Luck and hopefully we will see you in the winter season at some point!

Kas

Wow, thanks everyone for your responses - it's very much appreciated!

After having read your comments and doing a little more research on ski apartments as investments, it's become apparent that I should approach this as an investment in our own lifestyle rather than for income!

As long as I'd be able to raise enough rent to cover the running expenses, this could work out quite nicely for us. If anyone has an example of the typical running costs, taxes, etc, that would be very useful. My preference at the moment would be an apartment in Borovets itself, in the likes of Flora.

@Del Boy, I've requested to join the Facebook group you mentioned, so once accepted I may hit you with some additional questions

@Kas&Bobby, will drop you a note shortly and will probably stop by for a drink in late January!

Thanks again to all of you
Paul.

Hi Paul
I purchased an apartment in Borovets around 18 months ago. It was new,and in addition to the purchase costs,had to pay for a kitchen and bathroom to be fitted. I believe getting a kitchen fitted is usual after purchase of a new build,bathrooms are usually already in.
Also factor in taxes and fees which come to around 5% of the property value,or at least they did inn my case.
Service charge is 500 euro per year.Allocated parking would be 3600 lev,however I take my chance and do not pay for this.Can cause problems in heavy snow however,so parking is a consideration which I failed to take in to account and wish I had.
There is no possibility of rental to cover any of these charges.I guess some people may manage it but I never have,and even if I did the charge for that is quite expensive unless I suppose you have family and friends who do not mind their own servicing.
In addition,where my apartment is,there is a charge for any facilities like use of the hotel pool,again I assumed this was included!
Do your research carefully . I am not sorry I bought there but do think I could have got a much better deal had I been a bit more careful!