Spa Tourism Potential Hikes Property Prices In Bulgarian Resorts

Growing interest in the construction of spa centres resulted in increased real estate prices in some popular Bulgarian spa resorts.

Spa tourism remains relatively undeveloped but has considerable growth potential, 24 Chassa reported. At present the most profitable investment was buying hotel in a spa region, the newspaper said.

According to imot.bg, Velingrad was the town with highest spa hotel development potential. The town offers over 20 hotels at an average price of 675 euro a sq m. Buildings in need of additional repair work are usually sold for 250 euro a sq m. Pomorie offers the most inexpensive hotels with average prices around 600 euro a sq m.

Apart from hotels, investors show interest in purchasing old houses later renovated into small but high-quality spa centres. The town of Hisarya offers nearly 40 houses suitable for these purposes at prices of 312 euro a sq m. In comparison, a similar house in Velingrad would cost432 euro a sq m, 24 Chassa reported.

Despite their popularity as spa centres, the towns of Sandanski and Pavel Banya offer little for investors interested in hotel construction. The houses for sale need considerable repair work. Prices vary between 496 and 172 euro a sq m.