Property in a spa resort

Apartment or studio in spa resort - for own use or for rent. This is a niche on the real estate market in Bulgaria, which is just beginning to be interested in its development will refresh the market.

According to the consultants holiday properties in Bulgaria are business that must be managed for a long-term, and particularly spa resorts are very promising.

Buying holiday property is largely a function of the tourists that visit the country. Experience shows that 15-20% of tourists are potential buyers. At the moment, Bulgarian spa resorts are not so popular in Europe, as sea and mountain resorts. Therefore, the market for vacation properties in destinations like Sandanski, Hissar, Devin Sapareva bath is not so well developed. But this trend has great potential in future.

Transactions with spa property is yet gaining popularity because a lot of significant investments were made in this industry.

Balneology and spa tourism are perennial, which is a prerequisite for redeemability of the investments. One of the key factors that leads to the decision of the customers to buy property in a spa resort is the good infrastructure and also if the property is a part of a complex that offers a variety of services.

Russians are looking for properties in our spa resorts, but not many properties are sold because the supply on one hand is weak, and the prices of similar properties are higher than those in the sea and ski resorts.

Over 80% of foreign buyers in Sandanski are Russians. Buyers are usually over 60 years and they want to buy a property and stay there for treatment. Most of the deals are for one-bedroom apartments between 30 and 40 000 euro, and more rarely three-bedroom that cost about 50 000 euro.

There is a tendency for attracting buyer with lower budget over the past 2 years .Recently Bansko was announced for the cheapest ski resort in Europe.

After Kyustendil hosted the Balkan SPA awards and Hisar was named "spa destination on the Balkans", this will boost interest in properties in the area, state the brokers. Hisar won the race in competition with the town of Loutraki Greek, Macedonian Berovo, Vranyachka Banya Serbian, Mangalia ,Romania and Terek, Turkey.

Bulgarian spa municipalities should pay attention to the infrastructure and overall the development of cities.Bright examples have to followed such as Bath (UK), Karlsruhe (Germany), Hévíz (Hungary) and others. Again a positive exampleis Hissar, which twinned with a French town and now expects French investments, incl. also real estate.

Between 180 and 460 euro/ sq. m is the average price for properties in famous spa resorts in the country. For Hissar levels are between 260 and 300 euros / sq. m Sapareva Banya - 180-230 euro / sq. m Velingrad - 340-420 euro / sq. m, Devin - 260-320 euro / sq. m, Sandanski 340-460 euro / sq. meters, etc.

Higher average price per square meter reported on the property market some agencies, between 520 and 1,200 euros per square meter. The difference depends on whether the apartment is available on putty and grund or is a property in aparthotel that is ready to use and has extra features such as a private pool, gardens, sport center and etc.

Currently in Velingrad two types of apartments are offered. The first one is a new apartment, directly from the builder on putty and ground for quoted prices from 520 to 600 euro / sq. m. The other type are apartments-style hotels which are fully furnished, ready for use and rental. Their prices are approximately 800-1000 euros / sq. m. Of course, there are offers at prices for € 1,200 per sq.m.

In general, prices of apartments in Velingrad decreased with about 20 % from peak levels before the crisis, according to another data brokers. For around € 70,000 you can buy a nice house.

In Hisar prices have decreased with about 30 % since the crisis began.

There is a significant interest in properties near Pazardzhik towards Velingrad. Good deals are concluded in these villages and it seems that there is more activity there. After all the opinion of brockers is that spa resorts have failed to take full advantage of the booming real estate market in 2008 in terms of service and supply. And this market is generally oriented towards a narrow circle of people with greater opportunities - Balneotourism generally is not of the most widely available.

Bulgaria ranks second in the world for resources of mineral waters after Iceland. Throughout the country there are more than 600 water sources at a rate exceeding 5,000 liters per second. The healing qualities of the Bulgarian mineral waters are known from ancient times, some of the most famous balneotherapy sanatoriums today originated from Roman times.

In colder northern Bulgaria the mineral springs are at a temp up to 37 degrees and in Southern Bulgaria they are warmer -37 to 60 degrees and hot over 60 degrees. The hottest mineral spring in the country is in Sapareva bathroom (101.4 degrees).

The combination of mineral water and mud is good for year-round recreation, treatment and rest. The most famous spa areas and spa resorts in Bulgaria Velingrad, Sandanski, Banya, Hisar, Devin Sapareva Banya, Pavel Banya, Kyustendil Pomorie. Wealth of opportunities for spa and spa tourism in Bulgaria is part of the promotion of the country that the Ministry of Economy and Tourism is trying to impose on the international tourist market in recent years.

According to brokers real estate market can be revived in particular by active development of tourism in balneotherapy and golf resorts where there is all year-round use and a longer season.