News: High returns on the Bulgarian Piste

Thu, 08 Nov 07

Bulgaria is earning a reputation as one of Europe’s most popular ski destinations especially for those seeking a cheaper alternative to the Alpine resorts...

Regions such as Bansko, Borovets and Pamporovo have seen a marked increase in tourism over the winter months which has lead to a high demand for rental accommodation and in turn, an increase in the value of real estate. However as the summer season approaches Bulgaria still has plenty to offer, from lazing on Sunny Beach to hiking in the Pirin mountains or playing golf on the professionally designed courses.

For those looking for a summer holiday with the perfect combination of long sandy beaches and crystal clear waters, the Black Sea coast is a great alternative to traditional Mediterranean destinations such as Spain or Greece. Stretching 236 miles from the Kaliakra Cape in the north, past Varna and Burgas to Rezovo in the south, the coastline has undergone a transformation into a top holiday destination and is expecting to attract 5% more tourists than in 2005.

The picturesque old town of Nessebar, extending over a small peninsula is located 37 kilometres north of Burgas. Designated a UNESCO World Heritage site, Nessebar presents one of the finest Blue Flag beaches on the Black Sea coast. Its proximity to Sunny Beach, one of the most luxurious Bulgarian resorts, makes it a real attraction for those seeking water sports including surfing, water skiing, diving and yachting.

High returns

The new direct flights to Burgas from the UK, provided by low cost airline Wizz Air operating thrice weekly, have also helped open up this region. Qasir Ali, Director of market leading agent Bulgaria Revealed, comments, “Rental yields can be as high as 7% providing a significant return on a second property”

For those seeking a more active holiday however Bulgaria’s inland regions offer some of the best walking, mountain biking and horse riding trails in Europe. Hiking has always been a very popular past time in Bulgaria with distinctive mountain ranges covering a third of the country and over 37,000 kilometres of marked trails to follow for beginners and the more experienced alike.

Popular regions include the Rila Mountains, home of Bulgaria’s cultural treasure, the Rila Monastery and the Pirin Mountains, located 65 kilometres south of Sofia. The Pirin Mountains, which include Bansko, were designated a UNESCO Park in 1983 and consist of an alpine landscape with glacial valleys and lakes with a pleasant Mediterranean climate. Towns such as Bansko are frequently used by tourists as a base for their holiday where 2 bedroom apartments can be rented out from €60 per weekend.

“Purchasing a property in Bansko can be a great all year round investment” says Qasir Ali. “Between the ski season from October to May and the summer season from June to September you can gain regular rental incomes as well as capital growth”.

Popular golfing destination

If a golfing holiday is more your idea of summer fun then Bulgaria is the hottest new destination in Europe to consider. Golf in Bulgaria had previously been a low key affair with only two courses in Sofia and one on the Black Sea coast at Silven however this is changing rapidly.

Bulgaria has become a popular golfing destination rivalling Spain, Portugal and Florida with a number of professionally designed courses currently under construction. Many of the courses are due for completion in 2007 in line with Bulgaria’s expected EU ascension.

The opening up of Bulgaria to the lucrative golfing market will be good news for those with properties on or near the proposed courses. In the mountain regions of Borovets for example golf can be played for up to 9 months of the year and as these courses are located in close proximity to the ski runs, the rental appeal of a property can be diverse.

For further information: http://www.bulgariarevealed.com

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