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Bulgaria's 2014 Olympic bid makes it attractive for investors

Date: 30.11.2005

Overseas property investors seeking an affordable real estate market with maximum potential for gains and yields are intensely focused on off plan property developments in Bulgaria's ski resorts, according to property investment experts.

Real estate investors seeking emerging markets with massive potential are focused on Bulgaria and ski resorts such as Bansko, a prospect for the 2014 Winter Olympics, experts of Amberlamb Property Investment Resources said.

Bulgaria is currently receiving unprecedented levels of investment into property and infrastructure because the country is on the threshold to become a full-fledged EU member in 2007. With this prospect, the ski and sun resorts in Bulgaria have attracted much of this direct investment, analysts say.

The money is being ploughed into the improvement of facilities, the promotion of resorts and to increase visitor numbers and tourism revenue in Bulgaria.

For winter ski holidays Bulgaria is now the number one country for British tourists seeking affordable snow resorts. Meanwhile for summer sun holidays Bulgaria is the number one country for Eastern European holiday makers with Northern European interest also beginning to surge, the real estate experts say.

Because Sofia is a strong candidate city for the 2014 Winter Olympics and because Bansko will be the number one Olympic centre if Sofia's bid is successful, investors are positioning themselves ahead of the predicted curve by buying off plan ski properties in Bulgaria's number one ski resort.

With EUR 40 M already invested into improving Bansko, real estate investors are benefiting from the resort's increased visitor numbers, improved infrastructure and a much more appealing holiday destination overall.

Sofia News Agency

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