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Discussion in 'Bulgaria Property' started by geordie, Aug 7, 2007.

  1. geordie

    geordie New Member


    I am undertaking some due diligence on a project in Pamporovo and wondered if anyone had any useful experience from have visited or bought there. I would be interested to hear people views on the place as whole, particularly what the skiing was like this winter, and how much they paid etc.

    Thanks a lot,

  2. carol

    carol New Member

    Hi geordie,

    I bought in Pamporovo and I will be very happy to share with you my experience and discuss the prices we both have paid.
    If you want you can give me your e-mail and I will write to you.

  3. geordie

    geordie New Member

    Thanks Carol I will PM you.
  4. vthills

    vthills New Member

    Hi, Geordie! Did you do any research on the Pamporovo market? I would like you to share it with us :)
    The Official Veliko Turnovo Hills Website
  5. Jain and Chris

    Jain and Chris Senior Member

    Bit of a cheek isn't it, an agent who is meant to be selling asking for advice from a buyer?????
  6. vthills

    vthills New Member

    jain adn chris, you are the seller or the buyer?
  7. Jain and Chris

    Jain and Chris Senior Member

    actually, this is the whole point of our comments, we are neither!

    We are independent of both and all
  8. geordie

    geordie New Member

    Hi Vthills,

    I did extensive research and a full competitor analysis into a buyer undertaking a pure investment. I have advised my client not to invest. The resort is at too low an altitude and the ski season is too short. In my opinion the properties there are overpriced and too much of a bubble has developed over a very short period of years. There is also too much supply coming onto the market despite the new Perelik proposals.

    Due to the mild winter the resort opened without snow last winter, didn't receive any significant snow falls until the middle of January and then closed early - not the best advertisement. Even if there is no personal use, and a property it is rented out for the whole ski season, it could still be difficult to wash it's face. The area is trying to sell itself as summer location but in comparison visitor stays during the summer are not worth considering as part of the ROI, so the investment has to be able to pay its way during the snow season, with any summer stays being an added bonus. On this basis I believe it is better to stick to a location with an all-year-round rental market.

    Sorry it's not good news but these are only my views and people can make up their own mind.

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