Did the Border Blockades Prevent Greek Tourists and Property Buyers from Coming to Bulgaria?

Sales agents report an increase in the activity of Greek holiday home buyers in Bansko in January, but it seems the blockades on the Bulgarian-Greek border (which started on January 18th) have affected the interest of Greek property buyers.

The share of Greek buyers of real estate agency BULGARIAN PROPERTIES make up 5% from all foreign buyers in 2009 and in January 2010 their share increased to 8%. They buy property mainly in the ski resort of Bansko, as the deals in other regions are mostly exceptions – rural houses, plots of land, rental of apartments in Sofia.

According to data from the company’s representatives in Athens, Greece and of the head office the enquiries since the end of January have definitely decreased and no viewing trips have been made with Greek clients in Bansko and around the country in February. It cannot be said for sure whether only the blockade is to blame for that or Greece’s general economic state and the people’s increasing insecurity in their income, the agency commented.

BULGARIAN PROPERTIES do not want to forecast how the blockades might affect the property market in the long run as such events are incidental. During the border blockades last year (again in January) there was no interest from Greeks in Bulgarian properties yet.

Holiday bookings

According to the data of one of the big tour operators with which the company works – VisitBulgaria.net, about 30% of the holiday bookings in the ski resorts (mainly Bansko) are with Greeks. All Greek clients who have booked their holiday earlier and have prepaid it have managed to come and no bookings were cancelled.

There are some cancellations on the part of those who made last-minute bookings and the blockade made them change their minds. There are also clients who gave up booking while still at a research stage. However, according to VisitBulgaria.net, this is only temporary and will not have a long-term influence on the interest of Greek tourists in Bulgaria. Greeks look for attractive offers at low prices which our resorts currently offer.

According to Property Management BG – a company for maintenance and management of holiday developments – at present a big part of the hotels in Bansko count mainly on Greek tourists and any reflux on the their part, as small as it may be, will lead to great losses in the peak of the winter season.

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