15.09.2011 Apartments in Bulgaria’s Biggest Ski Resort – Bansko – 50% Cheaper Compared to 2008
Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES
BULGARIAN PROPERTIES’ index of listing prices of apartments in Bulgaria’s biggest ski resort – Bansko – shows that at present prices of apartments there are 50% lower compared to their peak values in 2008. According to the data which BULGARIAN PROPERTIES announced a month ago the situation in Bulgaria’s largest beach resort – Sunny Beach – is similar.
With index value for Bansko of 100 in November 2008 in August 2011 it is already 51.31 which shows an almost 50% decrease in the listing prices compared to their highest value in 2008. The drop in Bansko property prices based on actually concluded deals is similar – 53%.
After the 2010/2011 winter season, which was not so dynamic for property deals, in May 2011 listing prices of apartments for sale in Bansko dropped by about 10% compared to the previous months. After the ending of the season listing prices of offered apartments underwent some changes which led to an increased interest in ski resorts in the summer months and to more deals than during the ski season.
In the first 8 months of 2011 apartments in Bansko were sold at an average price of 760 Euro/sq.m. or at an average of 45,500 Euro. For comparison, based on concluded deals, apartment prices in Bansko were 520 Euro/sq.m. or 31,000 Euro for an apartment. This shows that there is still a difference in the listing prices and the prices at which deals are concluded but it also shows – like with the deals with apartments in Sunny Beach – that in Bansko buyers are also mainly interested in cheaper properties.
The graphs show that the listing prices and the prices at which deals are concluded were similar in 2008, before the credit crunch. In 2009 listing prices in the ski resort dropped by about 12% (with a 40% drop based on concluded deals), an additional drop of 12% in the listing prices was registered in 2010 (with the same prices of concluded deals as in 2009) and in 2011 listing prices registered a further 10% drop compared to the previous year.
The other two big ski resorts in Bulgaria – Borovets and Pamporovo – offer less apartments for sale and in Borovets property prices are considerably higher than in Bansko. In August 2011 apartments in Borovets were offered at an average of 900 Euro/sq.m. and those in Pamporovo – at an average of 740 Euro/sq.m. Prices in Pamporovo are similar to those in Bansko but the supply there is more limited. Listing prices of Borovets apartments fell only by 22% compared to their peak value (in 2009) while prices of Pamporovo apartments fell by 38% in the last 3 years.
When analyzing and comparing property prices in the beach and ski resorts in Bulgaria the data shows that prices of holiday homes in Bulgaria’s largest winter and seaside resorts are about 50% lower compared to their value before the crisis. Although there were some differences in property prices in the ski and beach resorts in the last 3 years (prices in Sunny Beach fell faster than those in Bansko) at present prices of apartments in Sunny Beach and Bansko – the two biggest beach and ski resorts in Bulgaria respectively – are similar. Those looking to buy a holiday home can buy an apartment for about 500 Euro/sq.m. as most properties offered at that price are finished and furnished apartments in functioning developments.
Book a viewing trip in Bansko or call us on +359 886 033 033
Copyright: 2011 Bulgarian Properties Ltd. All rights reserved. For further information or advice please contact us on tel.: +359 2 9 11 50 or e-mail: firstname.lastname@example.org. The use of this article by third parties is allowed only with proper quotations of the source www.BulgarianProperties.com and the Author of the article. The data in this material has been collected by the Author and Bulgarian Properties Ltd. and is presented for information purposes only. We have made every effort to ensure the accuracy of the data. However, Bulgarian Properties Ltd. cannot be held responsible for loss or damage as a result of decisions made based on the information presented in this article.
© Bulgarian Properties Ltd. 2011.
TOP PUBLISHED OFFER
1-bedroom apartment for sale near Razlog (Discount 20.20%) https://www.bulgarianproperties.com/1-bedroom_apartments_in_Bulgaria/AD24915BG_1-bedroom_apartment_for_sale_near_Razlog.html
Apartment in a complex with an outdoor pool and modern sports facilities Redenka Holiday Club is a dream for everyone who wishes to live among the beautiful nature in a luxury gated ... read more
|54.44 m2||no||€ 19,950|
TOP SOLD OFFER
1-bedroom apartment for sale in Bansko https://www.bulgarianproperties.com/1-bedroom_apartments_in_Bulgaria/AD17901BG_1-bedroom_apartment_for_sale_in_Bansko.html
Good location, good size, good views, great price! This is a well sized one bedroom apartment located on the third floor of Mountview Lodge complex. It has south ... read more
|68.45 m2||no||€ 29,950|
read more newsletters
The Sun, Samantha Lock
IT'S a good time for Brits to book a cheap holiday as prices plunge in many popular and unexpected travel hot-spots, a nation-wide travel report has revealed.
The Bulgarian resort of Sunny Beach on the Black Sea Coast offers UK holidaymakers the best value for money, while mainland Spain continues to entice tourists with its beaches, culture and c... read more
French company BiC, which specializes in the production of pens, lighters and razors, plans to open a service center in Sofia, where about 200 jobs will be opened. This will be part of the company's BiC 2022 - Invent The Future plan, the official announcement of the company said.
The opening of a center in the Bulgarian capital is part of the second phase of the program aimed at inc... read more
The 12 wine-culinary destinations are digitized and available on the website of the Ministry of Tourism. They have been developed under the project "Share Bulgaria", which is jointly implemented by the Ministry of Tourism and the Ministry of Agriculture, Food and Forests.
The Interacti... read more
All photos, texts, video clips, charts and banners on our website are property of our company or of our partners and are protected by the Copyright Act of the Republic of Bulgaria. Any unauthorized use of photos, texts, videos and other materials from our website by third parties will be subject to immediate claim on the part of the copyright owners. The information on our website is with information and advertising purposes. Alhtough we have made all efforts to provide accurate information, there may be some mistakes. For full and correct information is considered only the information received at the offices of Bulgarian Properties Ltd.