Theres will be around 500 properties built in 3 phases- phase 1 will be ready by mid to end this year !
Onsite there will be a rental management, shops, restaurant, bar, indoor and outdoor pools, spa and fitness centre and more- they are even building a small attractive chaple onsite also!
It is a 18 hole jack nicklaus design course with also practice facility, driving range and main clubhouse and halfway clubhouse also!
It is around 20-25 mins to borovets main village but the local village is dolna banya 3 mins away with a few shops, hotel, bar and restaurant!
We was told on out visit there that the local government want to develop the main road just outside the entrance to the resort is going to have small shops, bars and restaurant arcade also to give it a busier and better feel!
The membership fees includes all monthly maintenance charges and golf club membership fee rolled into one 1600 doesnt cover costs for a round of golf whereas the 2000 means you ,your family and guests staying with you are entitled to 50% off green fees and a round of golf and rental equiptment- so it makes sense to pay the extra 400 euros fee to get the discount esecially if your renting it out!!
They are doing a good job, I looked at the picks, the villas etc and I like the landscaping, the golf course if it is Nicklaus Design will be first class. It is in a super valley basin for great views. It looks a nice development, and it is not that big, 450 units is not much when you compare to several thousand in Spain, Polaris, 450 families it could make a nice tight community.
I thought the build quality looked pretty ok, the landscaping was pretty positive, and it is a well ordered or looks well ordered. I am surprised it is quite small on house numbers.
What are your thoughts Private versus Public Courses? Has a tour operator been lined up to rent out the properties for clients if they wish? Can money be made renting these out, or is it going to be more informal individual rentals.
I thought the project looked pretty good, or so far so good. It is pretty regulated for bulgaria!
Ibar will be private course for owners and guests satying at the resort only- Lets hope they keep it that way!!
Like you said not many properties which will be more beneficial for owners renting meaning more rental income etc!!
There is another one planned in the local area also but its very early stages as yet but they want to build a second one over the other side of dolna banya originally it was going to be IBAR 2 by nicklaus but I think this idea is on hold temporarily at the moment!!!
In general GG you are right and all looks like its coming along well!! There are a few last minute issues that are being dealt with- But as you know this happens whereever you buy and especially with off plan developments!!
But in general good value for money all things considered!!
P.S- Dont forget the cherry on the cake at being only 40 mins from sofia also which is a huge added bonus especially as sofia is so beautiful, friendly, plentiful and cheap!!!