Irelands Sunday Tribune Borovets Among Top 10 Property Investment Destinations For 2008
The Irish Sunday Tribune newspaper has ranked Bulgarian ski resort Borovets 6th in its Top 10 of the most lucrative property locations, Dnevnik daily reported on March 4.
The list is topped by the world's fastest growing city, Dubai.
Also on the list (in that order) are Ibiza, Poznan, Toulouse, Geneva, Orlando, London, Hurghada and Portugal's Silver Coast.
According to the newspaper, Bulgaria has been one of the hottest markets in Europe for the last number of years.
“But in the rush to bag a bargain here, the property market in some parts of the country has become a little too crowded and not as cheap as it once was,” Sunday Tribune reports.
The UN World Tourism Organisation believes Bulgaria to be one of the most appealing 'new faces' in the tourism industry today and by 2010 expects 20 million tourists will be visiting the country per annum.
As a result, inward investment has grown. According to Global Property Guide data Bulgaria had the fastest growing house prices in 2007 with a growth of 30.6 per cent.
After two years of delays, one of the largest projects to emerge is the Super Borovets project, situated in the ski resort Borovets.
And while Bulgaria isn't exactly known for its skiing it is fast positioning itself as a less expensive alternative to more chic locations in France and Italy.
“Besides, what it lacks in facilities and machinery it more than makes up for in its ski season, a lengthy one which runs from December to April”, the Sunday Tribune says.