Bulgaria Property Sales
Key Reasons to invest in Borovets Property
- Borovets Property prices are at their lowest level in almost 10 years. Many properties are now at price levels 50% below the peak and in most cases are being sold at close to construction costs. This is a great time to buy as construction costs are continuously increasing due to wage inflation and the rising cost of building materials.
- The Super Borovets project is set to transform the Borovets resort over the next 5-10 years. Over 500 million euros is being invested. The resort and facilities will be significantly increased with the ski pistes extended to over 100km, 2 new ski gondolas, 5 ski lifts and 2 golf courses created.
- Borovets has the best transport links of any Bulgarian ski resort. Currently just 1 hour from Sofia airport, Borovets will be just 40 minutes when the new Rila motorway is completed. It is also just 90 minutes from Plovdiv airport.
- Ski resorts like Borovets offer winter and summer rentals. Occupancy levels are very high in winter. During summer the mountains attract hill walkers, climbers and nature enthusiasts. This gives ski resorts a significant advantage with regard to rental income. We estimate up to 8% rental yield is achievable on our Borovets properties.
- Lake Iskar, the largest inland lake in Bulgaria is just 15km from Borovets and is very popular with water sport enthusiasts and fishermen.
- An international championship golf course is currently being designed by Nicklaus Golf at Dolna Banya just 30 minutes from Borovets and will open shortly. 2 further courses are included in the Super Borovets project. This will significantly enhance the summer rental opportunities in the area. One of these courses is located in the new Bialata Poliana 1310 village and just meters from Chamkoria Chalets & Apartments.
- Borovets location close to the capital which is the main wealth centre in Bulgaria guarantees a strong rental and resale market from the rapidly expanding Bulgarian middle class.
- Borovets is already a very popular weekend resort for people from Sofia who come here during the summer months to experience the beautiful flora and fauna and the clean air.
- Further new ski resorts are planned for Govedartsi village and Malyovitsa which are 20km from Borovets. These projects will take longer to materialize as they are at the early design phase but they show the ambition the Borovets area has to become a massive integrated ski domain.
Super Borovets Project
The Bulgarian government has announced plans for a major expansion of Borovets that will turn it into a world class mountain resort. The project is called Super Borovets and its aim is to expand the current ski resort of Borovets and turn it into an all year round mountain resort. The project has been carefully planned to comply with ecological and strategic objectives and ensure protection for the beautiful forests and surrounding national park. The existing facilities will be improved and vastly expanded. Currently Borovets has 58 km of pistes. This will be extended by 100km creating a huge ski domain. Over 500 million Euros is to be invested and the project has been given a class A investor status by the Bulgarian government.
The majority shareholders in the project are Equest Balkan plc (a UK listed investment fund) and the State Fund of Oman. These high profile investors bring with them significant funding and excellent international experience managing large scale investment projects. No other resort in Bulgaria has so far had such a project or received such extensive investment. As a result, the Super Borovets project ensures that the Borovets area and Borovets property is a top place to invest in - probably one of the best places in the whole of Bulgaria. Borovets property prices are still relatively low but this area is set to boom in the coming years.
The overall master plan for the project has already been approved. Two new villages will be created under the plans and linked via gondolas to the overall Borovets ski domain.
Zone I – Lower Borovets
A new tourist village will be created just outside Samokov town. This area is 12km from Borovets and located at 950m. It will be connected by a new ski gondola to the Yastrebets and Markudijik ski areas. This is zoned primarily for apartments and will cater for tourists who cannot afford to stay in the higher parts of the mountain. Tourist centres and leisure facilities will also be created at this level.
Zone II – Upper Borovets – Luxury Zone
In the areas Shumnatitsa/Bialata Poliana (1400m) and Gvardeiska Poliana/Mecha Glava (1600m) new luxury hotels and ski chalets will be built. In these areas, village and eco tourism will be encouraged. Folklore restaurants, model farms, riverside parks and a horse riding centre are all part of the plan. In the Bialata Poliana area there will be a spectacular 18-hole mountain golf course overlooking the beautiful Rila mountains and a ski gondola linking the area to the Borovets ski domain. As this area is high in the mountains every effort will be made to ensure the development is eco-friendly and sustainable. This area is zoned primarily for luxury chalets and will attract tourists looking for an exclusive location.
Chamkoria Chalets & Apartments is located in the Bialata Poliana 1310 area of the plan and just meters from the location of the new ski lift and 18-hole mountain golf course. It is directly beside the land owned by the Sultan of Oman and Equest Balkan Ltd. This means that you can be very sure that you are buying in the most exclusive part of Borovets. Check out the detailed plan for this area.
We strongly believe when investing in Borovets that it is very important to buy close to the areas where the Sultan of Oman and Equest Balkan already own land. This is because these are the areas which have approved funding and will receive the new investments and infrastructure. For this reason we have located our Chamkoria Chalets & Apartments development directly beside the Sultan of Oman's investments.
As mentioned above the project will dramatically change the face of Borovets over the next 5-10 years. Now is definitely the time to invest in Borovets property as prices will rise significantly once the project kicks off fully and the area attracts increased investor attention.
If you are interested in Bulgaria property sales then you should definately give consideration to buying property in Borovets. Please feel free to contact us if you have any queries about investing in Borovets.