Fri, Feb 10 2012
A project similar to Super Borovets will be the second major development in the region of Borovets mountain resort.
The tourism complex will be set up close to Maliovitsa, 24 Chassa daily reported. The zoning plan is currently drafted and will be finalised by May.
According to plans, the project will feature five tourism zones that will accommodate between 8000 and 10 000 tourists.
The complex will have 50 to 70km of ski tracks. Total investment will be calculated after the zoning plan is completed.
Investors said that the project will be set up in Borovets, as compared to Bansko the resort is underdeveloped. At the same time it is located close to Sofia.
Recently real estate agents said that Borovets will soon develop into a new winter tourism hotspot. The developed infrastructure, proximity to Sofia, favourable climate and opportunities for development of spa and eco-tourism make the resort attractive.
Agents said that since Super Borovets was announced, the price of property located nearby increased 30 to 40 per cent on an annual basis.
Samokov mayor Angel Nikolov said that Borovets will not be over-constructed like Bansko but will develop as a resort with its own ambience. Turning Borovets into super resort will be gradual, Nikolov said.
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.
Nearly all banks are ready to finance between 80 per cent and 90 per cent of the price of a home, provided it is a good building in a large city, Bulgarian daily says.
Property prices in Bulgaria were five to 10 per cent lower in 2011 than in 2010, while initial estimates for this year are that they will remain largely unchanged, with transactions remaining at ‘crisis levels’.
Bulgaria’s capital city Sofia ranks 17th, report says, quoting Global Property Guide.