Ski home bargains in Bulgaria

Assetz News, 1st March 2006

The Bulgarian property market has been receiving more good press this week, with properties around the popular ski resorts given particular praise.

Writing for the Telegraph, Nicola Venning also pointed out that property investors can find surprisingly good deals in Spain, where Europe's most southerly ski resort can be found in the Sierra Nevada.

The idea of buying a ski property in Spain may seem incongruous and many investors will understandably stick to more recognised property investment locations including the Costa del Sol and Murcia.

Nonetheless, there has been a distinct shift of emphasis in recent years that has seen more people looking for niche properties in line with popular demand. While Spanish coastal resorts remain popular and UK residents have certainly not abandoned more orthodox projects in France, it is clear there is also a growing market for the slightly less predictable option.

It is this impulse that has seen the Bulgarian property market emerge as a real favourite in the last couple of years, aided by the increasing number of direct flights available.

The Sofia News Agency has today reported that Bulgaria Air will soon start servicing flights between Sofia and Dublin, while another new route between the Black Sea airports and Dublin will also be established this summer.

With flights from London to Burgas and Milan to Varna, Bulgaria is starting to benefit from much improved access and it is an issue that should not be underestimated in terms of attracting potential investors.

In her article in the Telegraph, Ms Venning highlighted Bansko as an ideal resort for investment, after £165 million was recently pumped into improving the 65 kilometres of pistes.

Admitting that it is difficult to beat Bulgaria when looking for a ski home bargain, she indicated that much of the development in Bansko will be completed within the next few years, as investors look for both holiday homes and opportunities to make considerable gains from their outlays.

Ms Venning adds that Bulgaria has an edge over rival ski countries in that a ski property can be acquired for the price of a car. It is a statistic that is appealing enough in itself, but with EU accession to come and a strong bid for the Winter Olympics in 2014 in motion, these prices are unlikely to remain low for long.

Ski properties are always popular in the buy-to-let sector as well, prompting many investors to purchase a property without any intention to ever live in it. While French property and equivalents in Switzerland or Italy will inevitably attract many looking to appeal to the ski holiday market, Bulgaria has certainly managed to establish itself as a strong alternative.

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