Skiing Brits find eastern property promise in Bulgaria

Bulgaria is cementing its lead as an investment property
hotspot for skiers and snowboarders looking to own a slice
of the slopes. The country's recent accession in the EU,
together with the low prices and plentiful property
facilitated by the building boom, are leading many British
skiers and snowboarders to leapfrog their traditional
favourite ski spots in France, Switzerland and Austria, in
favour of Bulgaria's more modestly priced mountains.

The boom in property development in Bulgaria's best
resorts have meant that brand new ski apartments can be
snapped up for less than ?30K. These low prices, combined
with the preventive costs of getting on to the British
property ladder, means that many young buyers are choosing
Bulgaria for either investment property, a holiday home or
a way of generating some extra income through rental
returns.

As Bulgaria's premier ski resort, with the best snow
record and longest ski season (mid December to mid may),
Bansko has become the most popular location for British
property investors to purchase. Previously perceived by
some as being a budget ski destination, the $40 million
investment in Bansko mean that in terms of size and
facilities, the resort is now competing with other more
established favourites in Western Europe.

However, it's not just Bansko that's big with the Brits;
other prominent ski areas such as Borovetz and Pamporovo
are also attracting interest. Borovets is Bulgaria's
oldest ski resort which dates back to 1896 and offers
pistes up to 2600m above sea level. Pamporovo's claim to
fame comes in the form of its weather, and it's said to be
the sunniest ski resort in Bulgaria.

There are also around a dozen other less well known ski
areas in the country, such as Vitosha, Semkovo and Uzana,
which are currently more geared towards local weekend
skiers rather than the international snow sports market,
but these are likely to grow in size in the coming years.
The new development around Razlog is getting property
investors excited as it will be combining a ski area with
an 18 hole PGA golf course just 4km from Bansko, and is
likely to attract a lot of interest from British buyers.

Though other European nationals have showed interest in
buying property in Bulgaria, the British are leading the
charge with an estimated 40,000 Britons now owning
property in the country. And it's not just snow seekers
who are looking to buy; the Black Sea beach resorts are
also attracting adventurous Brits searching for a
Bulgarian property investment with a healthy dose of sun
and sea; the most popular places to buy are around the
Varna area, in towns such as Kavarna and Albena Beach.

As Bulgaria's economy and infrastructure continues to
develop, it's likely that it will grow even more popular
with the property buying Brits - after all, when you can
buy a plush ski apartment, town penthouse or beach villa
in Bulgaria for the same price as a conservatory in
Britain, it's not surprising that many are heading to the
country in search of eastern property promise.