Bulgaria investors 'hit the slopes'

Posted by Jaimie Kanwar on Wednesday, October 10, 2007

As the Bulgarian winter ski season fast approaches and an announcement has just been made that 200 additional kilometres of ski runs, 100 kilometres of ski lifts, a new airport and a three-lane road are to be added to the winter sports landscape in the Bulgarian mountains by 2014, naturally all thoughts lead to the unstoppable rise of Bulgaria's winter sports appeal and whether the rise is actually sustainable...

The fact that the Bulgarian government is wholly behind and even financially involved in many of the ambitious plans to develop and improve upon the major ski and winter sports destinations of Bansko, Borovets, Pamporovo and Vitosha near Sofia suggests to investors that the right foundations and fundamentals are indeed in place for the ongoing improvement of winter sports appeal in Bulgaria. Therefore a financial commitment in the form of an investment made into well located real estate for example, is potentially one worth making...

However nothing is ever as simple as that – and in the case of Bulgaria further complication arises when you have to decide which winter sport resort to invest in. All have their own unique flavour and appeal, no single resort offers the same amenities and facilities or even atmosphere as another - so which Bulgarian winter resort should you choose and why?

Pamporovo

Pamporovo is the resort most likely to benefit from the aforementioned substantial investment program which will see the creation of a dedicated sports complex called Perelik by 2014 at the latest. It will also benefit from improved accessibility as the investment program will bring a new airport and road network to the area according to the very latest reports in The Sofia Echo.

The resort of Pamporovo also ticks many additional boxes for investors and tourists alike – for example, because of its high altitude (1620m) and therefore guaranteed snow coverage it is already one of the most popular ski resorts in Bulgaria. It offers 8 major ski runs totalling 17.5 km and because the slopes are ideal for beginners and intermediates the resort is very popular with families.

You can ski here from the middle of December until the middle of April and there are also around 25 km of cross country trails as well as 4 training slopes providing plenty of diversity for skiers depending on their age, ability and preferred winter sports activity.

Equipment rental is easy in Pamporovo and affordable – budget about 40lv a day and 30lv for a day pass to the lifts - there are about 100 multi lingual instructors available, the resort is popular with snow boarders as well and the off-piste skiing is exceptionally appealing making this particular resort an all round, attractive, affordable and welcoming one.

In terms of what constitutes a good property investment in Pamporovo, how about the excellently located Barco development which offers a selection of 1 and 2 bedroom apartments from just £43,759 / €63,240 and a 6% rental guarantee which also allows owner usage of 2 weeks per annum.

Bankso

Bansko is the resort which has witnessed the most sustained and substantial investment to date. Friday the 5th of October is also Bansko Day and will result in the wider international promotion of the fantastic skiing and après ski available in this pretty and accessible destination. Bansko has the added advantage of providing tourists with established year round and alternative appeal as it has a golf course coming to completion, luxury hotels, spas and now even a 5 million euro retail development is under construction to make Bansko a shopper's paradise...and the skiing isn't bad either!

Bansko has one of the longest ski seasons of all the major resorts in Bulgaria running from early in December until late in April, the snow is often very thick and the entire environment is especially perfect for seasoned skiers. Having said that, there are training slopes so even if you've never skied before you can learn in Bansko before moving on to the 6 main ski runs or the cross country trails.

Extending the ski season and also guaranteeing it are the snow cannons, and providing diverse and additional pleasure is Bansko's ski and snowboard fun-park area. If anything, equipment hire and day passes are even cheaper than in Pamporovo, and the availability of equipment for hire and lessons is fantastic.

Taking maximum advantage of the year round appeal of Bansko is the brand new, five star Imperial Golf Club property development which has already attracted significant levels of international investor interest. Imperial Golf Club is a development for serious investors – those who want to target the year round tourism growth that Bansko is receiving, enjoying and actively targeting.

Situated at the foot of the Pirin Mountains near Bansko, just 150 metres from the first golf course to be constructed in the area and only 4 km from one of Europe's most beautiful, up and coming skiing resorts, this development stands alone with the provision of exceptionally high quality amenities such as a spa and wellness centre, indoor and outdoor pools, restaurant, café, bar, security and shuttle services.

Prices start from GBP 42,468 / EUR 60,870 for a one bedroom apartment, and in the words of Lance Nelson who's the managing director of Jet2Let, the company that has the privilege of promoting this incomparable development: “investors at the Imperial Golf Club are not only buying in to all that Bansko has achieved to date, they are investing in the future of one of the most popular and successfully thriving year round activity resorts in Europe.”

Borovets

Borovets has traditionally always been one of the most popular ski resorts with Bulgarians and continues to draw in dedicated winter sports enthusiasts from around the world as it has some of the very best skiing in the entire country. It is a truly dedicated ski resort and has hosted the World Cup Alpine Ski rounds twice, boasts 23 ski runs, 19 km of cross country trails and up to 1.5 meters of snow is common between November and April.

The runs are clearly identified as either being suitable for the absolute beginner, intermediates or advanced/expert skiers and daily equipment hire for boarders and skiers is easy with prices starting from around 40lv a day and the lift passes costing from 55lv. In addition to skiing how about night-skiing, snowboarding, cross-country skiing, trying ski jumps, biathlon or skidoo? All are readily available options in Borovets.

As Borovets has retained its focus wholly on the provision of exceptional snow related activities, it makes sense that the best property investment in this particular location would be a ski-in, ski-out development.

The Semiramida Gardens five-star spa hotel and apartment complex is just such a development and investors are able to purchase a studio apartment from as little as GBP 33,190 / EUR 47,584 which they can easily let out to skiers who literally want doorstep access to the very best skiing in Bulgaria.

Semiramida Gardens has its own integrated network of pistes and lifts and is an entirely stand alone resort as it also provides guests and residents with unlimited access to onsite luxury leisure facilities including a spa and wellness centre, swimming pools, a fitness centre, sauna, steam room and Jacuzzi, a relaxation room, an international cuisine restaurant, bar, nightclub, secure underground parking, 24 hour security and full concierge services.

Vitosha

And finally you have Vitosha which is marketed as Sofia's ski resort as it is just a stone's throw away from the capital of Bulgaria and therefore hugely popular for its accessibility and the fact that you can combine a city break in one of Europe's most historic and fascinating cities with a ski holiday as well - and you can even fly in to Sofia's airports with a cheap flight operator nowadays as well.

Vitosha is Bulgaria's highest ski resort and has almost 30 km of ski runs offering absolutely the perfect mix of challenges so that the resort can accommodate the complete beginner in its multi lingual ski school right up to the world class skier. This particular resort is also popular with cross country skiers and only really unsuitable for beginner boarders because it can be quite rocky. Equipment hire can be upwards of 60lv a day but then you save on your ski pass as this is only around 25lv.

For a property investor seeking maximum diversity in terms of who they can target their investment property to, the Apartment House Dragalevtzy development which is located in one of Sofia's most prominent residential districts has to be the number one choice.

Located just 15 minutes away from the city centre, 12 km away from Sofia International Airport, 10 minutes from the vast Sofia Business Park which is Bulgaria's newest and most important business park and only 4km to the Vitosha Gondola and the ski pistes, Apartment House Dragalevtzy possibly provides the broadest appeal of all those developments discussed. Prices for a one bedroom apartment start from as little as GBP 20,720 / EUR 29,705 and according to Lance Nelson: “the short, medium and long term potential for these properties is inimitably and unarguably good.”

The unstoppable rise of Bulgaria's winter sports appeal is sustainable because it is supported by public and private commitment and financial backing and because the nation is becoming more widely publicised, more affordably accessible and increasingly desirable with the addition of greater and more diverse amenities, facilities and attractions.

For more information, visit www.jet2letproperty.com

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