Bulgaria Ski discussion board

Over supply will stay for a long time -prices will not go up as before,prices not cheap as 1-2 ago,mess will stay for years to come-there is no way the infrastructure will be sorted out in the next 5 years or so.whatever you could buy 2 years ago and last one this year the prices are the same.rental is not gonna happen for a long time as well.flats a dodgy,management on them is not sure thing,maintenance can rise uncontrolably,and the ski runs - will never reach the decent number needed to be used by allot of the punters there.already the prices of lift passes are ===with the one in almost any ski place in the Alps ,minus the mileage for the runs,
one thing which is the most diff to guess is the realiability of the snow-season (it is shorter there so you maybe get less rental if any),my prediction is that in BG resorts there will be downward adjustment in the prices before they go stable at least.food is not going to stay cheap for ever-drinks are climbing all the time and fast.locals are changing for the worst.friendliness is cooling down steadily
I suggest step back look again and then gamble.being in a hurry is not the nessessary thing anymore.
I am shooting myself in the foot saying this but if I have to be honest -this is what the future looks like for me unless you see it in a different colour.I have alot of direct interests in BG and for a very long time- building renovating developing .the gold rush has stopped.now whotever you buy- stays with u - 4ever.
If you decide to purchase - you are more than welcome

I heard the airport info on the forum address I posted.
Dont know how true it is, but there is stacks of info about it on there for it to be just a load of bull. How long it will take is another question??? who knows

I agree with the red tape to extend the runs, but again, I am looking long term. If it takes 10 years to sort it all out, then I will have a lovely palce to go in my 40s and 50s and 60s with the family, I will also get some rental back, I can then sell it when I need a pension.

cheers
smag

I bought in spain a few years ago the same as bulgaria you have to look long term there are so many new properties that anything less than 10 years is a waste of time. on the plus side our 80k investment is now worth 120k I know we wouldnt get that if we put it up for sale but the growth is realy good and I dont care have some fab hols out there. Dont buy though if you rely on rental income not worth the risk if you can afford it go for it. you should see an increase over time just look long term.

Agree Smag's very measured and sensible response - unlike the usual hysteria and uninformed nonsense I read on this site when anyone answers the question about Bansko investment.

2nd Gondola has been approved - few hundred yards up from the existing one. Also, plans passed for new runs and clearly, as Dobrinishte ( a few miles away) is now under development, it will eventually join up with Bansko - as will other existing and planned runs on the mountain.

Only caution I would add is that I understand (from a pilot as it happens) that no pilot would fly right into the area for the obvious reasons (too many mountains) !

The likely location for the airport, so I am told by the aforementioned (Easyjet) pilot, is Gotse Delchev which is an old Russian airbase which is probably about an hour or so drive away.

Agree with Sam - don't rely on rental income in short term.

We also bought in Spain 6 years ago and sold 2 years ago and doubled our money. In the time we owned it we had many great holidays, learned loads about Spain and buying property abroad. I have no doubt BG will be the same.

Would international investors have paid for the Gondola? Would the Kempinksi group have built a 5 star development right in prime spot by the Gondola? Would the EC have invested squillions in the road system from Sofia and more recently on the mountain road to Bansko?? I doubt it - unless they expected a return on the investment.

Of course Bansko is a building site at the moment - it is a resort under construction. As a holiday maker I may not be too thrilled but as an investor I am delighted.

(Sorry if I sound like a developer / agent . I am neither. I have bought there but after much research and I am very relaxed and happy with my decision. And before anyone says that I am looking at it through rose tinted glasses - I think not.)

I bought in Pamporovo 2 years ago after looking at both Bansko and Borovets. As previous posts have pointed out it is foolish to take anything less than a long term view on any property never mind an emerging market. Best to disregard 90% of the hype and make your own informed, well researched decision. I bought in Spain some years ago and have done well capital appreciation wise. The only reason it worked for me there was that I basically treated everything the agent told me as lies and took it from there.
I did not buy the property havng to depend on rental income and was prepared to carry it financially and take any rent I picked up as a bonus.
I applied the same criteria to Pamporovo and bought somewhere I really liked.(Location,location location as theTV programmes never tire of telling us) There are so many issues like overdevelopment etc that mirror Spain's. I think it boils down to being careful what you buy and avoid the poor quality builds in poor locations.
Property is cheap for a reason although certainly I hope that in 10 years time my place will have appreciated enough to have made it a worthwhile exercise. In the meantime, like Spain, I will be able to go there and get some enjoyment from it. If it works out financially all the better.
The decision to buy in Pamporovo was a personal taste one although the main factor was proximity to the lifts.
I also looked at France and would have had to spend twice the money for a property half the size.
Time will tell whether I made a good call. In the meantime, lets hope the snow stays for a while as I am going there on Saturday.

Mart, I enjoyed Bansko but I would never buy there or anywhere else in Bulgaria. The quality of workmanship was very poor, I stayed in new apartment and sockets and taps were falling of the walls. I'm certain that building standards are not as high as the UK and the back up you would get would be poor.
Someone posted an article on this site a few months ago in which it said thats its only the British and the Irish that are buying. I know that the Germans have brought in new tax laws that hit people hard with properties outside of German so they have stopped buying abroad. Supply will outstrip demand which makes for a poor investment. I would say its a long term risk, I can't see anyone wanting to rent outside the short ski season.
Unfortunately Bulgaria is one of the most corrupt countries in Europe.
You pay your money and you take the risk, but I believe in Bulgaria its a very big risk.

Gogs