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Construction works in Bansko can compete with Shanghai

Date: 25.01.2007

"The resort of Basnsko is the new Shanghai in the middle of Eastern Europe," the latest edition of Austrian magazine News reads. "Gold-digger's attitude. Construction cranes in a background of white topped mountains. Investors from Sofia are building dozen of hotels and prices for a square meter of land have risen ten times for the last couple of years. Bansko has been the most expensive territory in Bulgaria for quite some time", is quoted further in the article. The resort of Bansko is compared with Ischgl, an elite winter resort, which considered to be one of the top ski resorts in Europe. "Dilapidated ski lifts and tacky hotels are things of the past. Modern and stylish ski resort has appeared as from nowhere. New ski lifts reach up to near Todorka peak, that is 2800 meter high and 40 million euro have been invested in building the resort's infrastructure. "There are 65 kilometres of marked ski runs", continues the article and adds that the prices rise by 20% annually and are likely to continue going up, as the demand to own a property is higher than supply. Some 150 million euros have been invested in 200 new hotels and construction works are on the way. At the moment a square meter of property in Bansko is evaluated for 2150 euro. Recently, a Russian millionaire paid 752, 500 euro for a 350 sq.m. apartment, due to be ready in 2008. The world skating champions, Bulgaria's golden couple Albena Denkova and Maxim Staviski will open the first of its size 1000 sq. m. ice-skating rink, which is due to be opened by the end of this month. Its excellent ski runs determine the resort as a host of the European Women's Championship in Alpine Skiing and European Biathlon Championship.

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