Local Area - Luxor, Bansko

Local Area

Bansko is the newest and fastest developing ski resort in Bulgaria . Unlike Borovets and Pamporovo, it has managed to combine the latest technological developments with the authentic atmosphere of a Bulgarian village. It has the qualities of a unique settlement with a large number of cultural monuments and traditional architecture. Bansko welcomes around 450,000 people every year but with the speedy development of the resort, the construction of new hotels, and the growing number of services offered to tourists the number of visitors is said to triple in the next couple of years

The geographic location of the town allows for a great flow of visitors from Balkan countries, although many Europeans prefer Bansko to the resorts of their own countries. Compared to other holiday destinations and ski resorts, Bansko is exceptional in that it attracts visitors in both the summer and the winter. The town is located amongst beautiful landscapes with hills, valleys, several lakes and a river, and is a paradise for summer holidaymakers who choose sports and leisure activities like trekking and mountaineering.

We realise that many of you may not be that familiar with Bulgaria and wonder, “Why would anybody want to invest there?”

We therefore decided to put this question to local agents and ourselves in the real estate market. The following is a “short list” of why an investor should invest in Bulgaria .

Development Investment Points

In 2003 the price per m2 was €650, now it is around €1200 m2 and not slowing down.
Rapidly becoming the most sought after area for investment in Europe . Property in Bulgaria is still some of the cheapest in Europe and it is still possible to find front ski & beach developments.
1,248,138 foreigners visited Bulgaria in the period January - May 2004.
Tipped by Thomson's 2004 Holiday Forecast as the new top destination.
The diverse geography and climate allows both ski and beach resorts.
The general cost of living is one of the cheapest in Europe .
Bulgaria is close and within 3 hours or less from the United Kingdom , Holland and Germany by plane.
Bulgaria joined NATO in 2004 and is set to Join the EU in 2007.
Bulgaria is stable. In 1999 the Bulgarian currency was tied to the German mark and subsequently the Euro, stabilising the currency and allowing for economic growth.
Planned route for Budget Airlines.

The developments' location and the level of quality makes 'Luxor Bansko' an investment not to be missed, but what makes it more interesting is the way in which the deal has been put together.

Firstly most developers in Bansko require between 30% -50% of the property price on signing of the preliminary contract and staged payments before completion. Secondly most if not all of properties in Bulgaria are sold without furniture, kitchens & bathrooms. 'Luxor Bansko' will require only 20% deposit on signing of preliminary contract and 20% in a year plus free furniture packs with kitchens and bathrooms for all our clients.

Image of Luxor, Bansko

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