Bulgarian Boom: Skiing Hot In Eastern Europe

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Publish Date

02/22/2007

SAM Magazine - Bansko, Bulgaria. February 21, 2007 - Eastern Europe is experiencing a boom in skiing, lead by the Bulgarian resorts of Pamporovo and Bansko. Most of the action in Bansko has been in real estate, with a property boom fueled by an influx of buyers from the UK. Increasing development has led to criticism from the World Wildlife Federation which has claimed that much of the development is essentially illegal as it is on national park land and has not been properly authorized with a full legally-required environmental assessment.

Pamporovo, on the other hand, is expecting to invest over 255 million euros in the Perelik Project. The project is expected to be completed at the end of 2007 and features a wide range of improvements including new trails, ski lifts, snowmaking, hotels, parking lots, a possible golf course and 100km of new highway connections. The project will accommodate an expected 40% growth in tourist visits predicted for the 2007-08 ski season.

In addition, the resort is experiencing a property boom similar to Bansko's. Real estate agents have reported that vacation bookings have exceeded the supply of short term rental units during peak season and that property prices have increased 20% on the year. \

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