Bansko, Bulgaria
Property in Bansko - sound investment at the right time
Its true. The last few years have seen Bansko property values skyrocket. Investors from all over Western Europe, and particularly from the UK, have been purchasing property and housing throughout Bulgaria. Following Bulgaria's recent entry into the European Union, the country has leapt onto the real estate market with a vengeance and Bansko has been at the centre of the Bulgarian boom. As development continues, there is no doubt that property in Bansko is a good investment and promises to appreciate as time goes by. For potential investors, the time is now.
Why Bansko and why now?
Bulgaria entered the European Union in January 2007 making it a perfect place for investment. Past trends have shown that new entrants to the EU have seen significant increases in property value due to three factors:
- Increased standards of living for the local population
- A perception of fairer property laws and assurance of a more open and accessible property market, and
- An anticipated drop in currency risk when the country joins the euro-zone.
These factors, plus the general attractive nature of Bansko and the Pirin Mountain region combine to make investment in Bansko particularly tempting for those looking for an EU-based home-away-from-home with a good climate and a reasonable cost of living.
Bansko - a worthy destination
A quick look at a map of the Bansko area makes it clear why the area has become such an attractive a resort destination. Just 160km from Sofia (Bulgaria's capital), the Bansko region is within easy reach of Bulgaria's main airport. And as cheap all-inclusive holidays continue to entice ski groups from Western Europe, Bansko is benefitting enormously. The ski weather in Bulgaria is nearly ideal - lots of snow but a moderate climate meaning that people visit once and find themselves coming again and again. But this area isn't just about the snow! The Bansko region is an all-year-round vacation destination. The warm summer temperatures and many lakes in the mountainous Bansko region promise great fishing, camping, hiking and water sports activities.
Bulgarian holiday homes - for personal use and as rental properties
With prices dipping as low as fifty thousand Euros for a quality built, modern two-bedroom apartment its no surprise that many Europeans have purchased investment apartments in Bansko. The winter ski season sees low vacancy rates in Bansko and the heavy demand for hotels and apartments means that investors can do well to buy housing for use as vacation rentals. These properties quickly show substantial returns. Many landlords link with websites or tour operators who offer holiday villas in Bulgaria, thus reducing their marketing costs and assuring a steady income for their investment. Property in Bansko is a good investment and should continue to appreciate as the community grows in the future.
