Information on Regions and Towns in Bulgaria

2005 was a year when many people around the world discovered Bulgaria and we believe the country, whilst still immature and with a poor infrastructure, was beginning to show signs of being a long term winner in property investment terms.

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Bulgaria is a country of immense variety, both geographically and culturally. As a destination, the country has only received widespread recognition within the last couple of years, with many locations yet to be discovered by international tourism. It is true to say that Bulgaria is mirroring the Spanish property cycle which began over a quarter of a century ago. Just like the early days of the Spanish market, Bulgaria is currently experiencing an emerging level of tourism (as it was voted number one holiday destination by a major, UK-based holiday company in 2004) and it appears very likely that, not unlike Spain, Bulgaria will grow on the strength of EU membership with millions of Euros being pumped into its infrastructure and economy.

This process is already underway and soon the stereotypical image of poverty and deprivation that once characterised Bulgaria as a country will become a thing of the past. In terms of the current trends in the property market, initial international interest has been concentrated in the coastal beach resorts of the Black Sea, however this is now expanding further afield. As the market has developed and matured, an ever-increasing variety of property has become available catering for the different interest and needs of international buyers. Prospective buyers can now choose between mountain ski resorts, historic villages, luxury apartments in the capital and coastal villas.

Ski Destinations

BANSKO

Bansko is the youngest and best developed ski resort in Bulgaria. It is actually based around a lovely old town that attracts tourists in the winter and summer and is located no more than 2 hours from Sofia. Situated between the Pirin, Rila and Rhodope mountain ranges, Bansko is located at the foot of the Pirin National Park, listed in the World Register of Natural Heritage. It is a mountain resort with a short hot summer and long mild winters. Snowfalls are abundant, providing a constant winter snow cover up to 2m thick. The region is famous for its cuisine and colourful folklore and offers various entertainment opportunities. The access to Bansko is convenient even in winter conditions.

The distance to the nearest airport – Sofia Airport - is 160 km, two hours away. The skiing conditions are excellent, with a variety of slopes, runs and tracks for all levels of skiers and the ski runs are maintained to an excellent standard. The resort is equipped with machines for artificial snow when nature cannot provide. The two major ski regions of Bansko - the lower called Chalin Valog (1,100 - 1,600m) and the higher Shiligarnika (1,700 - 2,500m) - are situated above the town, on the northern slopes of the Pirin Mountains. Slalom and giant slalom runs can be found in the Shiligarnika region.

The total track length is 75km with plans to expand this to 95km this year. A gondola lift provides convenient access from the town to the ski slopes and a further lift is planned for the 2006/07 season. Bansko is applying for the 2014 Winter Olympics which gives it the potential for massive capital growth for purchasers of property in this region, provided that the investor buys early enough.

BOROVETS

Borovets is the oldest and most developed mountain resort in Bulgaria. It is located 1,350 feet above sea level on the northern slopes of the Rila Mountains amongst age-old pine woods, at the foot of peak Mousala. It is only 72 km away from Sofia and just 126 km away from Plovdiv. Given this, Borovets is in a privileged position as it is easily accessible from all parts of Bulgaria. The resort is of alpine type and provides excellent opportunities for a whole range of winter sports. The resort has twice hosted World Cup Alpine skiing rounds and its biathlon track is one of the best in Europe. The slopes of Borovets have a permanent snow cover from November to May, more than 1.5 m thick.

The resort is conveniently located and is accessible from Sofia by car or bus. The town of Samokov is 10 km from the resort. The average temperature during the coldest month, January, is -4.6°C. The night life is excellent at this resort, as it is full of bars, cafes, nightclubs and discos, many of which are open until the early hours.

Summer activities in the ski areas

In the summer the ski areas are just as great as they are in the winter. They offer everything that is needed for a good holiday: clean, fresh air, serene centuries-old pine forests and snow-clad mountains. In the summer, the mountains continue to attract a large number of visitors with some of the best hiking available in Europe. These features do appeal to mountain bikers and, more recently, horse riders who are just beginning to discover the attractions of Bulgaria. From an investment point of view, Bulgaria’s ski resorts present good opportunities for all year round rentals.

Beach Destinations

SUNNY BEACH

Sunny Beach is a town on the Black Sea coast of Bulgaria, located approximately 35 km north of Burgas. The coast itself is naturally set in a small bay, protected by the slopes of the Balkan Mountain to the north. It has six kilometre long beaches that reach as far as Nessebur to the south. Sunny Beach has a very small permanent population but, during the summer, the town is home to many thousands of tourists. The climate of the area is Mediterranean, explaining why Sunny Beach is popular with tourists.

The area boasts 1,700 hours of sunshine from May through to September and the average daily temperature in the summer is 27 degrees Celsius. Sunny Beach has become Bulgaria's biggest and most popular holiday resort on the Black Sea coast and the only one to be awarded the prestigious Blue Flag international award for proven ecological advantages. It may be true to say that it is the liveliest area of Bulgaria, as it numbers over 100 hotels, over 130 catering establishments including restaurants, taverns with folklore shows, bars with floor shows, night clubs, casinos, discos and cafes. Attractions for tourists include the beach watersports, nightlife and the nearby historical site of Nessebar.

Given the range of activities available, Sunny Beach is a popular option for both the older and younger generations alike. It is a genuine children's paradise with plenty of facilities including children’s pools, slides, carting, water slides, inflatable trampolines and sport schools. Sunny Beach is living through a transformation that started in 2000. The importance and reputation of the resort has grown sharply, especially amongst Western tourists.

Investments in high class accommodation has moved in parallel, with some 500 million euros being invested in the location over the last four years. As a result the resort has earned the title of the top tourist destination in Bulgaria. The combination of warm sea, fine sand, sunny weather and affordable prices ensures excellent prospects for the future as an increasing number of people are switching from the Spanish Costas and the French Riviera to more affordable destinations such as this.

City Destinations

SOFIA

The city of Sofia is situated near the centre of the Balkans region, in the Sofia Basin which is a valley in the western part of the country. Immediately to the south is the Vitosha National Park and to the north is the Stara Planina mountain range. At 550 m above sea level, Sofia is the highest capital in Europe and, moreover, it is considered to be amongst the nation’s most attractive cities. The city has maintained its historical flavour whilst establishing an environment that encourages cultural activities, research and business endeavours.

With a population of approximately one million inhabitants, Sofia offers the fascination of a European capital city together with the conveniences, services and attractions of a major metropolitan area. The city and its citizens have long traditions of hospitality and cultural achievements and offer very good educational, recreational and cultural opportunities. With the motto of the city being “Ever growing, never ageing”, Sofia boasts numerous places of interest, many related to its rich and diverse history. Most notable of these are the landmark Alexander Nevski Cathedral, the St. Nedelya Church, the St. George Rotunda, the Banya Bashi Mosque, the Central Sofia Synagogue and the Women’s market. Scores of museums, theatres, music halls and cinemas are present and, if shopping is your priority, Sofia will not disappoint!

As the capital of Bulgaria, it will always score highly for genuine investment opportunities. The primary reason for this is that the city is already starting to attract inward investment because of the highly skilled and motivated workforce. This, in turn, brings in more people and more investment, and creates greater buying and spending power. As Bulgaria enters the EU, Sofia will provide a vibrant financial and commercial centre which will bring with it an extensive increase in residential and commercial property values.

Infrastructure improvements are already underway with a new metro system, airport terminal and road networks under construction. The USA has recently opened their new embassy in Sofia with a staff of 2,000 to support all the Balkan countries, adding weight to the opinion that Bulgaria is now the strategic hub for all the Balkan countries. Given this, the demand for modern quality accommodation is strong, and today’s investor will see a steady increase in this demand for years to come.

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