The Advantages
Of Bulgaria Skiing Property

Last year, Bulgaria skiing property prices rose by about 35%, and in the lead-up to EU accession in 2007, annual rises of 25% are predicted.

--The Times. May 20, 2005

Bulgaria’s winter resorts registered the highest growth of all ski destinations in the world during the 2004-2005 season.

--Standard News. July 21, 2005

At present the most popular types of property for investment are one- and two-bedroom apartments, purchased off-plan in strategic winter locations. This trend will probably continue leading up to Bulgaria’s entry into the European Union in 2007, so why is there so much interest in Bulgaria skiing property?

Bulgaria Ski Resorts

New golf courses are springing up everywhere in Bulgaria. In 2007, Bansko ski resort will benefit from the completion of a golf course to be designed by Ian Woosnam, working along with IMG's European Golf Design team.

The new golf course will have spectacular views of the Pirin Mountains and include new spa facilities, residential, and commercial complexes. Developers have already started building off-plan apartments around the Bansko area.

Then there’s the Super Borovets Project, funded by the EU and private foreign investors and scheduled to run from 2005 to 2009, which will regenerate the whole Samokov region. The project is estimated to cost around EUR 300-400 million. This new resort will be completely independent from the existing resort, Borovets.

The whole region around Samokov is expected to be transformed into a year-round resort with ski paths, cable cars, football fields, tennis courts, hotels, and numerous other facilities. New pathways for walking, horse riding, and mountain biking will be created for eco and rural tourism.

To coordinate this massive project, a new cultural and tourism program, Samokov-Borovets-Beli Iskar, is to be developed. The project is expected to create over 10 000 employment opportunities in Bulgaria’s tourism sector, and of course all these people will require accommodations.

According to Bulgaria’s Economics Minister, over the last five months of 2005, the number of tourists visiting the ski resorts has increased by 3.5%. The upward trend is mainly due to arrivals from the European Union.

Ski Chalets

The greatest share is that of Greek tourists, followed by Macedonians, and Germans. According to Bulgarian statistics, Denmark holds the record for swelling visitor percentages: Since the start of the year, the number of Danes vacationing in Bulgaria has increased by 85%. A significant leap in the number of tourists to Bulgaria was also made by Cyprus (53%), Poland (31%), Switzerland (30%), Great Britain (29%), and Greece (29%).

These statistics, and the millions in foreign currency pouring into the ski resorts, clearly indicate the confidence that investors have in Bulgaria’s future tourism industry.

If you decide to invest in this part of the country, the good news is that Bulgaria skiing property has a nine-month rental season compared to properties on the coast, which have only a five-month rental season. Those people buying only for rental income, therefore, would find Bulgaria skiing properties far more lucrative.

Ski Apartment Construction

Generally, summer rental rates on the coast equate to winter rates in the ski resorts - both seasons being of about five months duration. But in the Bulgaria skiing resorts, additional rent is achievable during the summer periods, though at a lower rate, from tourists who enjoy the mountains. Obviously, distance from the ski lifts, the standard of finish of your Bulgaria skiing property, and the amenities offered will determine the type of tourists you attract and the level of achievable rent.

The safest option is to buy one or two bedroom off-plan developments on the ski slopes. Rental income depends on tourism, and high capital appreciation is more likely. Currently, the rental yields achievable on property situated in the ski resorts is around 7-8%.

In a few years, Bulgaria is likely to be the number one ski destination in Europe, both for Western and Eastern Europeans.

By a big margin, the three most popular Bulgaria skiing resorts are Bansko, Borovets, and Pamporovo, which are situated in the beautiful mountain ranges of Rila, Pirin, and Rhodophi.

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