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The latest research from Bulgarian Properties real estate agency shows that 2011 was a slow year for ski property sales. Sales in the Bansko are were particular slow and prices for apartment in Bansko have dropped over 20% in 2011 alone. There is still a large number of available properties on the Bansko market and this is going to depress both sales and rental for some time into the future.
The average sales price for apartments in Bansko during 2011 was 35,500 euros whereas in 2010 the average sales price was 44,000 euros representing a drop of almost 20% over the 12 month period. The average price per m2 was 500 euro/m2 in 2011 down from 650 euro/m2 in 2010. The majority of sales in the Bansko area came from buyers looking to purchase very cheap ski properties. The sales volumes also decreased relative to the previous year.
Prices in the Pamporovo and Borovets ski resorts have held up better. In Pamporovo the average sales price is 42,000 euros and the price per m2 averages 620 euro/m2. In Borovets the average sales price is 46,500 euros and the price per m2 averages 650 euro/m2. Both Pamporovo and Borovets ski properties are remaining more resilient as there is a much smaller supply of properties in these areas. For Borovets property in particular there is a reasonably limited supply of properties available and this is helping to lift the market.
The review of the Bulgarian Properties website shows that there are currently 1074 properties for sale in Bansko, 617 properties for sales in Pamporovo and just 191 properties for sale in Borovets. Based on these figures it is easy to see why prices are holding up in Borovets.