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Posted On: 30/06/2009
Investment in the ski resort of PamporovoProperty investment opportunities still exist in Bulgaria; it's simply about knowing where to look, according to overseas property specialists Azure Overseas. Frank Crowley, managing director of the firm said:"Bulgaria has received a lot of negative analysis lately, and I can't say it wasn't all true, but where it went wrong was tarring all of Bulgaria with the same brush. When Bulgaria property boomed, nowhere boomed more than the ski resort town of Bansko.
Over-development became a massive problem very quickly, and people began to see that the gains they had intended on making were going to be very difficult to realise, and began to sell up. This saturation of the market with similar properties in the same area quickly drove prices down instead of up, and this took away from Bulgaria's investment potential."But the same strengths that made Bansko and Bulgaria so popular with investors still exist within the country. The secret is to invest in a property in a location that has all the strengths of Bansko, and none of the over-supply problems. We have a new off-plan resort development on the ski resort of Pamporovo that fits the bill exactly."Construction starts on the five-star Club Meadow ski apartments starts in May 2009. The fact that a new development has been launched here is testament to the investment potential of the area. One of Bulgaria's biggest strengths has always been the low property prices, and Club Meadow doesn't break the trend; a 5 star luxury studio apartment by the slopes is available from just £19,000.
Facilities in the Club Meadow complex include: a grocery outlet, luxury spa centre, beauty parlour, massage centre, professionally equipped fitness centre, sauna, swimming pool and restaurant. On top of that each apartment has Satellite TV, telephone and wireless-internet.
As for investment potential, Pamporovo is one of the most popular ski resorts in the world, because of that and the low price of Club Meadow luxury apartments, rental yields will be between 8 and 12%. The immediate growth expected when an off-plan project is completed will be at least 30% but is more likely to be around the 50% mark.
About Azure OverseasAzure Overseas is a member of the National Association of Estate Agents (Overseas) and adheres to the highest standards of customer care and stringent market research/due-diligence.
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