NEWSLETTER

2018-01-16

17.01.2018 Bansko Property Update by Andrew Peach - Regional Manager, Office Bansko

As the New Year starts Bansko has received the news that the project for the 2nd Gondola has taken a step forward. The Bulgarian government has decided to give permission for construction of the second lift in the biggest Bulgarian ski resort.

To many, who have waited many years for this project, this is great news and once implemented I am sure it will push Bansko to the forefront of the ski destinations in Europe.

The news has already created a spike of interested buyers looking to take advantage before prices start to rise. However, it is not only the second gondola that contributes to the rise of the interest.

We witnessed a considerable growth in property sales in Bansko in 2017, long before the news for the 2nd Godnola. Our Bansko Office won the prize for ''Highest Regional Sales 2017' in our company Annual Awards as it was the office outside the capital that managed to attract most buyers and complete most sales last year. Recent data by the Registry Agency shows the sales increase in Bansko was 13% annually and it reached its peak in the second half of 2017.

The attractive prices in the resort (which start from as low as 10,000 Euros for a furnished studio) are the main factor that attracts the buyers. We don't expect a fast price increase but the best properties will sell fast and the buyers will need to be more active.

Another important point we need to make is that Bansko is now seen as a summer resort as well as ski resort. Summer tourism continues to grow year on year mainly due to summer festivals, corporate companies organizing team building events, as well as many local people visiting the resort for long weekends. The summer festivals being promoted by the local municipality have had great success with visitor levels growing every year.

The buyers of properties in Bansko over the last few months consist of 50% Bulgarians and the rest are quite international. Macedonian, British, Irish, Israeli and even South African nationals are becoming owners of this piece of paradise on the Balkans.

One huge factor I feel for the overseas buyers are the new flight routes introduced by low-cost airline Ryan Air. The Irish with the direct flight from Dublin are returning, Italians, Belgians and Scandinavians are all visiting and being surprised by the low property prices, local attractions and the mesmerizing spell of Todorka.

One point that buyers are making me concerned of is their interest in apartments without maintenance fees. To this I would ask: would you buy a 20,000-euro car and then not service it for 5 years and expect it to be road worthy? I do however advise buyers to check maintenance contracts and if an owners' association is in place in the complex you are looking to purchase in.

The rental returns in Bansko for short term are not great which is mainly due to the low prices being offered by complexes to Tour Operators. However there is success in certain complexes and also for owners who are pro-active in marketing their own apartments. Due to an increase of digital nomads in the town we have seen an increase in demand for long term rentals and with a normal 3-month contract all yearly costs can be cleaned.

I am sure 2018 will be a very busy year and I do feel this will be a turning point in the history of Bansko.

View our top properties in Bansko

Selling property in Bansko? List it with us!

Share
Vitosha View - an exclusive residential development in Sofia
Vitosha View is a gated complex at the foothills of Vitosha Mountain. It offers urban environment combined with the home atmosphere and the greenery of a beautiful garden. Vitosha View enjoys an attractive location and is perfect for investment in the Bulgarian capital.
See More

Latest News
Welcome to our new office in Burgas!

Following a strategy for presence with our own offices in all major cities and resorts in Bulgaria, we are most pleased to announce that we have opened a new office in the coastal city of Burgas!

It is located in a modern office building in Lazur area with address:

5, Adam Mitskevitch Str., etrance B, fl. 2, office 2
Burgas Office on the map
Tel: +359 56... read more

12 June, 2019
Latest News
Sofia Hosts the international Meeting of Development Banks From the Balkans and Central and Eastern Europe

Today, Sofia hosts the international meeting of development banks from the Balkans and Central and Eastern Europe.

The event is organized by the Bulgarian Development Bank.

The meeting is linked to the new investment program of the European Union - InvestEU. It is based on the strategic investment fund of the so-called Juncker Plan, reports pariteni.bg.

... read more

18 June, 2019
Latest News
Can Bulgaria Build on Its Sunny Beach Success With British Holidaymakers?

The summer months are edging ever closer and people across the world are getting ready to travel to a range of locations to enjoy some sunshine, a bit of culture and perhaps most importantly unwind away from the world of work.

Of course, Bulgaria has a lot to offer from a tourism perspective, but new research has revealed that one of its resorts, in particular, could prove to be... read more

19 June, 2019
Latest News
Tests of new road toll system in Bulgaria begin on August 16

On July 3 negotiations with the transport sector on the road toll fees continue. The new fees will be negotiated by the autumn of 2019.

The Bulgarian society and the Bulgarian transport sector and haulers are eager to learn what is happening with the new road toll system and when it will be officially introduced in this country. That is why the latest press-conference held on this t... read more

26 June, 2019