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The Bulgaria property market has popped up in the news again over the last few days, with the Bulgarian properties in ski resort being main focus for the commentary.
Commenting in Britain’s Telegraph newspaper, Nicola Venning also discussed ski property in Spain’s Sierra Nevada region which is one of the most southerly ski resorts in Europe. Ski property in Spain is not what you normally think about with coastal beach property investments being much more popular in Spain. Similar to Spain, Bulgarian ski resorts are in strong demand at the moment. An increase in the number of flights from UK and Ireland has led to a surge in investment along the Black Sea coast and also in the mountain ski resorts. More direct flights are appearing all the time with the latest expected to be between Dublin and Sofia and also Dublin and Burgas.
Ms. Venning has pointed out that Bansko is an ideal ski resort for property investment, as it has recently installed new ski lift as part of a multi-million development plan which has seen the pistes increase to 65km long. Bulgaria has a lead for other ski locations in that a ski property can be purchased for little more that 20,000 euros. This combined with EU membership and a possible bid for the 2014 Winter Olympics mean that prices as sure to rise very quickly.
Bulgaria’s Tourism Agency has offered strong support for the Sofia 2014 bid. Sofia Mayor Boiko Borissov has signed an agreement called for cooperation between the city agencies and the tourism agency to maximize the success of the Olympic bid. The bid offer a selection of venues for the competition with events being spread between Sofia and the ski resorts of Borovets and Bansko. The overall cost of hosting the games is estimated and 1.2 B euros. The other cities competing in the first round are Salzburg, Sochi, Borjomi, Almaty, PyeongChang and Jaca.
Competing for the winter Olympics has helped to boost demand for Bulgaria ski property.
