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Bulgaria Ski Property Bulgaria
Ski Real Estate Borovets Bansko Pamporov Skiing
| Bulgarian
property investors Bansko hit the slopes |
Those
seeking to invest in buy-to-let property in Bulgaria could do worse than
head to the mountains, a new report finds.
Assetz, a leading UK property investment specialist, reveals today that
ski resorts offer year-round rentals and up to 12 per cent in yields,
around twice the returns available in the coastal resorts.
"Prime skiing locations such as Bansko Property have strong long-term
investment prospects, with the likelihood of securing guaranteed rental
schemes with leading holiday companies who already operate in the
area," said Peter Holden, UK and international investment manager for
Assetz.
"Yields are essential for any Bulgarian investor, since capital gains
of 20 per cent last year may not continue to grow at such as rate if entry
to the EU in 2007 fails."
But the property investment firm warned that Bulgarian market still
represents a speculative investment.
With membership to the EU in 2007 still uncertain, an immature property
market driven by investors means there is no guaranteed resale market,
Assetz warns.
However, some of the lowest house prices in Europe and a booming growing
tourist market make Bulgaria a favourite for long-term investors.
Mr Holden added: "Generally, investors should be aware of the
apparently ’bargain’ deals in Bulgaria citing properties for under
€30,000, which are likely to be located in the more rural areas and are
will not enjoy such high growth rates and rental yields. At Sunny Beach
and other coastal areas, a property that is not right on the beachfront
will not currently make a viable rental prospect.
"All investors should be aware that Bulgaria is still a speculative
market, therefore those looking for a quick fix to a pension shortfall
would be better off looking to more established markets such as France or
Spain."
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