Bulgaria Property News - Foreign Property Buyers' Interest in Bansko Drops?

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Bulgaria Property News - Foreign Property Buyers' Interest in Bansko Drops?
The development of the real estate market in Bulgaria's ski resort of Bansko has been very in the last few years.

However, in 2007 the market wasn't so intensive as usually, report from Address Real Estate, cited by profit.bg. A reason for the slow-down is NATURA 2000 ecology network, when last summer a ban on construction authorization was imposed until a cadastral map and register of the resort are established, from profit.bg reminded. A square meter of an apartment in Bansko costs about 1,000 EUR.

The most expensive are the flats near the lift station - 2,100 EUR/sq.m. By now Bansko is full of small buildings and apartments which bring foreigners with lower incomes. That's why many people believe that the resort needs more luxury buildings to attract wealthier buyers.

Britons who look for properties in Bankso are significantly less this year, due mainly to the credit crunch in the US and Britain, specialists share. The overbuilt situation is also a negative factor, support from profit.bg.

Local sellers start to rely more on potential buyers from Russia, Spain and Greece.

by News Bg