Strong winter season for Bulgarian ski properties

There are indications for a strong season in Bulgaria’s ski resorts, according to BULGARIAN PROPERTIES. The activity in Bansko, Borovets and Pamporovo was relatively high during the past summer season. The prices continue to fall there.

Sometimes the spring and summer months are more active seasons for properties in the ski resorts than the winter time. However, the months from January to March are the most dynamic. According to BULGARIAN PROPERTIES, the properties in ski resorts will recover most difficult from the crisis. This will give opportunities for bargain purchases, as the prices are currently at their absolute minimum.

The average price of sold apartments in Bansko for the third quarter of 2013 was 375 Euro/sq.m., which represents a drop of -6% compared to the second quarter (400 Euro/sq.m.) and a fall of -6% year-on-year.

The average price of the sold apartments in Bansko and Pamporovo is 25,400 Euro/sq.m. However, it should be noted that in Bansko more deals were concluded in the summer of 2013 compared to the previous summer. Borovets continues to hold the highest prices and deals are concluded at prices around 600 Euro/sq.m. on average.

"We expect an increase in demand during the winter. The flow of tourists comes then and mainly part of them combines vacation and buying a property. We have received inquiries for viewings in January and February. The buyers in the winter resorts are different nationalities compare to those on the sea. Bulgarians also started interesting in ski properties in Bansko, Pamporovo and Borovets. Among the buyers are British and Russians and occasionally people from other countries, " said Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES.

Bulgarian buyers are interested mainly in apartments at attractive prices - about 15,000-20,000 Euro. In most cases they are interested in properties with one bedroom, small-size, hotel type. There is no interest in investing in this segment, although the prices are relatively low and there are prospects for a growth in the long-term period. If you buy a home and rent it out, the best that you can achieve now is to cover the maintenance fees. "A good yield can not be expected," she said. 80% of transactions in the ski resort are concluded for apartments. The same is on the sea.

The seaside holiday properties continue confidently to attract a significant interest. The sales have increased by 20% in the third quarter of 2013 year-on-year and the prices have started to creep upward, BULGARIAN PROPERTIES reported.

The average price of sold apartments in Sunny Beach for the third quarter of 2013, according to BULGARIAN PROPERTIES data, was 570 Euro/sq.m. compared to 490 Euro/sq.m. for the same period of 2012 and 550 Euro/sq.m. for the second quarter of 2013. The average price of the sold apartments was 33,700 Euro in 3Q 2013.

Russian buyers are most active in this segment as well and they account for 30% of the total number of rural properties buyers in 3Q 2013. They are interested mainly in the villages around Burgas, Stara Zagora, Plovdiv and Yambol. The second largest group of rural property buyers are British (20%) , as long as they still buy properties in Bulgaria, they are most active in the segment of rural properties, which has always attracted them as they seek peaceful environment and return to nature. Their interest has been directed towards the villages around Veliko Tarnovo, Plovdiv and Vidin in the past quarter.

Bulgarian buyers are presently not actively buying rural properties - they account for about 10% of all buyers.

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