Archive for the 'Ski property' Category
Friday, February 16th, 2007
Property market heats up in Bulgarian resorts
For years they have been cheap and cheerful, but the next generation of Bulgarian resorts are among Europe’s finest.
What country is this? At its top ski resort, prospective property investors check in to the Hotel Kempinski, one of the world’s top brand names. The rooms are Wi-Fi equipped, and there’s a cigar lounge, vitamin bar and spa. Nearby, one of Britain’s most up-market estate agents, Savills, is selling apartments for more than £320,000 each.
In the same country’s most popular coastal area, Obzor on the Black Sea, exclusive interior-design company Yoo has created a spa resort. The 257 apartments are on sale through another top-end British estate agent, Knight Frank, for up to almost £200,000.
Is this Italy? The US? Maybe France? No - it’s Bulgaria. “We feel that Bulgaria is one of the most exciting new frontiers in the property market today,” says John Hitchcox, who, with the French design maestro Philippe Starck, launched Yoo in 1999.
“It took us a while to get into Bulgaria because there were transparency issues over who owned the land. But the country’s made significant leaps in this regard in the past year or two, and the market is ready for the sophisticated kind of product that Yoo is associated with,” says Dominic Hassell of Knight Frank, which is selling the apartments for upwards of £55,000.
British estate agents are at the forefront of transforming the hitherto flaky image of Bulgaria’s property market into a much stronger investment and lifestyle proposition.
“Due diligence - that’s proving the ownership of land and ensuring there are legal deeds when homes are sold - had been a weak point, but we’re introducing British standards,” insists Charles Weston-Baker, head of international sales at Savills.
His company is selling the most expensive new-build properties available in Bulgaria at the country’s premier ski resort, Bansko. St George’s Lodge is a five-star ski and summer leisure complex, with 149 apartmentsranging from £48,500 to £322,000.
The shift in Bulgaria’s reputation has come as a result of high expectations about the country’s accession to the EU last month.
“Our sales in the country quadrupled in 2006 from the previous year,” says Antony Aguado of Our Home Abroad, a British estate agency selling homes in Bulgaria.
“This was no surprise. Many countries over the years have shown dramatic increases upon EU accession,” he says.
Liam Bailey, Knight Frank’s head of residential research, describes Bulgaria as “one of the big winners” in capital appreciation since the millennium. He says: “Slowly you’ll see its properties and amenities going up-market. It’s a place to watch.”
THE INDEPENDENT
Wednesday, January 3rd, 2007
Property Prices Up in Bulgarian Resorts, Despite Impressive Supply
Vacation property in Bulgaria appears to be inexpensive for foreign buyers and for wealthier Bulgarians, which leads to further price increases.
Despite the construction boom and intense property offering prices remain high, 24 Chassa daily reported.
Property in Bansko winter resort and Sunny Beach coastal resort registered highest price increase percentage. Imot.bg reported that investors have to spend now 20 per cent more on property in the two regions as compared to values for January 2006.
Bansko is the winter resort that offers most property for sale. A number of investors have also turned to Pamporovo.
Investors were mostly interested in two-bedroom apartments. Nearly 200 such apartments are offered for sale in Bansko. Prices have reached 919 euro per sq m. The price of luxurious property exceeds 1000 euro per sq m.
Sunny Beach is the leading summer resort when it comes to increase in property prices. Supply there is also high, compared to the offers in other coastal resorts.
Property agents said that the vacation property market in 2007 would not witness major developments, as a number of investors are expected to get involved with the construction of spa centres.
SofiaEcho
Friday, November 24th, 2006
255€ Million to be Invested in New Tourism Projects near Bansko
There are several major projects for development in the region of Bansko, which attract the investors` interest and considerably increase the prices of land plots.
“Balkanstroy” will contract a major golf complex in the Kulinoto site nearby Razlog, which has to be completed in the next three years. The investment is estimated to reach 240 million BGN. It plans the construction of 60 km of ski tracks and 20 km cable lifts. At the moment the same company constructs the golf complex “Pirin Golf Holidays Club” in the Betlovoto site. 60 million euro will be invested in the project. It will offer a golf course with 18 holes and vacation apartments and chalets on 120 thousand square meter land. The complex is expected to be completed by 2008.
The construction of a ski zone in Dobrinishte region, according to the projects of “Dobrinishte ski” is planned to be completed in three years. 260 million BGN will be invested in the construction of the ski tracks with total length of 40 km and accommodation for the tourists. According to the property companies the region around Dobrinishte is about to be developed and the prices of the land are considerably lower in comparison to these in Bansko. According to “Fors” the average price of the land in Dobrinishte is around 60€ per square meter
Capital weekly
Saturday, November 11th, 2006
New ski and golf centre to be built in the Kulinoto area near Bansko ski resort
An extravagant new ski and golf centre, designed to bring in tourists from around Europe, is to be built in Bulgaria it has been announced.
To be built in the Kulinoto area near Bansko resort, the centre will be aimed at year-round tourism, reports the Dnevnik Daily.
The ski area alone will boast 20 installations, with 20 kilometres of lift routes and ski tracks measuring 60 kilometres long.
And the golf area will include a hotel, clubhouse, commercial complexes and a golf playground.
Currently Bankso is Bulgaria’s primary ski resort with a season lasting from December 15th to May 15th, the longest of any Bulgarian resort.
Bansko is approximately 160 kilometres away from the capital of Sofia and a mere six kilometres from Razlog.
The resort has only come to the attention of skiers in the last decade or so, but in that time has become one of the most popular in Europe.
Dnevnik Daily