29th November, 2006
Year-round appeal now among the
benefits of buying in Bulgaria
With Bulgaria’s accession into the EU just weeks away, Stephen Dainty, managing director of HHB Holiday Homes and one of the most experienced players in the Bulgarian property market, is highlighting the benefits - and possible risks - of buying in the country.
Arrival into the EU is expected to lead to increased interest in buying in Bulgaria and many developers are offering properties which can be used year-round. Properties in the ski resorts, for example, offer walking and hiking in summer and there are plans for golf courses and health spas to further enhance their appeal.
Along the coast, spas are being incorporated into many developments to lengthen the summer season and to encourage people to take weekend breaks through autumn and winter.
Stephen says: “Prospects for Bulgaria look excellent with EU membership likely to push up property prices. People also have a wide range of properties to choose from, many of which have excellent letting potential.”
But Stephen does have a word of caution for potential purchasers. He says: “The biggest problems in Bulgaria concern bad title and bad planning. Buyers should steer clear of these two obstacles.”
This means ensuring you use a reputable lawyer who can make sure all the paperwork is in order before you buy and that the property is legally yours and has been built with the correct permissions in place.
Stephen also warns people against relying on the agents who are selling properties - after all, they act for the seller rather than the buyer and some may be totally reliant on the commission from sales.
HHB Holiday Homes is currently marketing 70 studios and apartments in the prestigious Pinewood Ski Lodge and Health Spa in Bansko at the foot of the mountain and a five minute walk to the Gondola.
The complex will include a spa and treatment centre offering facials, massages and body treatments. There will also be a sauna and fitness room. Prices will start at £9, considerably cheaper than treatments in the UK.
Bansko sits in the Pirin mountains around 160 kilometers from Sofia. The region is renowned for its cuisine and colourful traditions. At more than 900 metres above sea-level, Bansko is Bulgaria's most modern ski centre with 64kms of runs. It has the best snow record and the longest ski season - from December to April - of all Bulgarian ski resorts and has seen a huge amount of investment over the past few years.
Stephen Dainty says: “This will be one of the last opportunities to purchase off-plan apartments at these prices in such a fantastic location close to the forest and within easy walking distance to the Gondola.”
Studios and apartments at Pinewood will include flooring and kitchen units. Ski storage facilities will also be available.
Potential buyers can take advantage of inspection trips from Dublin, Manchester and London for £199, which includes flights and accommodation. The cost of the trip will be refunded to clients who buy properties.
Prices at Pinewood start from £28,000 for a studio, around £48,000 for a one-bedroom apartment and from £85,000 for a two-bedroom apartment. The building is due to be completed in summer 2008.
HHB Holiday Homes is also marketing the Palma Springs Holiday Club and Spa resort in Golden Sands on the Black Sea coast. The resort will include a hot spring mineral spa and health centre.
There will be around 200 apartments in the Palma Spring complex along with a supermarket, shops, bar, restaurant and children’s club. The 30 metre swimming pool will have a luxury pool-side bar and there will also be a separate children’s pool.
Bulgaria is rich in mineral water springs and has a history of offering expert spa treatments using the waters which are generally naturally warm. HHB Holiday Homes has bought the rights to a natural mineral spring which runs through the site and is licensed to use the waters in a range of spa treatments.
As well as using the mineral waters in the health centre, once the summer season is over, the naturally warm water will be diverted into the swimming pool at Palma Springs to allow for year-round bathing.
Apartments at Palma Springs will have sea or pool views and include kitchen units. Parking will be available on-site and there will be lifts to all floors.
Prices at Palma Springs - which will be fully wheelchair-accessible - start from £32,000 for a studio apartment and £44,995 for a two-bedroom apartment. Phase One of the development is due for completion in December 2007.
The complex is within walking distance of the beach, restaurants and bars of Golden Sands which is acknowledged as the most sophisticated resort on the Black Sea coast.
Stephen Dainty adds: “Palma Springs will help turn Golden Sands into a year-round destination. As well as enjoying summer holidays and short breaks, people will be able to take advantage of cheap flights for long weekends and enjoy some pampering. The fact that the resort is open all year round will also help people maximise the rental potential of their property.”
Reader enquiries: HHB Holiday Homes (Manchester)
Tel: 08452 60 90 60
Email: info@hhbholidayhomes.com
Website: www.hhbholidayhomes.com
Media enquiries: For more information and photographs contact
Helen Riley, Headline Media, tel 0208 348 3103 / 07931 300 425.
Email: helenriley@headlinemedia.co.uk
