In the heart of the majestic Pirin Mountains, we discovered Bulgaria's hidden treasure: Bansko. As we wandered the cobbled streets and admired the frescoed houses, the potential of this quaint town as an investment destination began to become apparent.
Famous for its enchanting ski resorts and historic charm, Bansko proved to be an emerging market for real estate investment. The local real estate landscape included a mix of traditional stone houses and modern apartments, all of which enhanced the area's appeal.
The city of Bansko in particular is of course very popular with tourists. It is therefore not surprising that prices here are higher than in the surrounding areas.
It is the largest ski resort in Bulgaria. But it is not only busy here in winter. There is also a large golf resort just a few kilometers from Bansko: Pirin Golf.
You can imagine that there are many hotels and other accommodations in which you can invest.
But why would you do that in Bansko and not somewhere else in, for example, Austria?
The real estate market is growing fast in Bansko. Many foreigners and digital nomads buy or rent a house or an apartment here. Sometimes to live in, but often also as an investment to rent it out to tourists.
The number of tourists is also growing. Many new hotels, bungalows, houses and other facilities are being built to accommodate the growing flow of tourists.
There are many opportunities in the real estate market, but the supply is also growing.
An example of a hotel with many apartments for sale is the Aspen Valley Hotel in Razlog. But there are many more options in the region.
After talking to local real estate experts, I understood Bansko's appeal to investors.
Growing tourism, especially in the winter months, made it a hotspot for holiday rentals.
The vibrant cultural life, cozy restaurants and proximity to natural attractions created an attractive lifestyle scenario.
Many people invest in a charming apartment in the center of Bansko and it turns out to be a bull's-eye.
For years, new hotels and bungalows were built in Bansko to accommodate the growing flow of tourists, while old buildings fell into disrepair and many were left unfinished and left to stand for years.
But now this is changing. The idea is to first renovate vacant buildings before adding anything new. This will of course greatly improve the city and apartments and houses will become even more expensive.
Because Bansko is so attractive to tourists, (real estate) investors naturally also come into play here. There are therefore many opportunities in this area.
As mentioned, many new accommodations are being built and renovated, which only increases the supply. But prices are also rising.
The best time to invest seems to be now.
There are many apartments for sale in Bansko. You will find these in new apartment complexes (for people to live in) and in hotels to rent out to holidaymakers.
Anyone can buy these apartments without too many restrictions. For example, you can buy a studio apartment in the middle of Bansko for at least €30,000. This is small compared to Western European countries.
Bansko, with its investment potential and enchanting atmosphere, proves to be not only a financial consideration, but also an investment in quality of life. The real estate adventure in this Bulgarian treasure not only brings returns, but also opens the door to a new way of life in the heart of the Pirin Mountains!
The city of Bansko in particular is of course very popular with tourists. It is therefore not surprising that prices here are higher than in the surrounding areas.
Yet it is still dirt cheap compared to Alpine countries such as Austria and Switzerland. Not only in real estate, but also the costs of living (such as groceries, insurance, fuel, etc.) are considerably lower than in Western Europe.
In Bansko you can still buy an apartment for the price it was in the 1990s in Austria, where this has now become unaffordable in the ski resorts.
And Bansko is also fun to visit all year round, with hiking trails, a golf resort and spas nearby!
Real estate prices naturally vary greatly. We therefore advise you to thoroughly research the prices and seek advice from local real estate experts. Of course we can help you with this too.
We can tell you that the market in Bansko is very interesting for investors and there are really many options, in all price ranges.
And you will also be in good hands in the future. Bansko is only growing and there are more and more tourists and facilities. You can enjoy skiing, walking, golfing and taking treatments, which is attractive for tenants.
And rental and sales prices will only increase in the coming years, making the risk of losing your investment relatively small.
This increase in real estate prices across Bulgaria was more than 10% in 2023, but in Bansko it was even higher.
In addition, Bulgaria is now seen as a stable country, which is of course important when investing in real estate.
Anyone can buy apartments without too many restrictions. For example, you can buy a studio apartment in the middle of Bansko for at least €30,000. This is small compared to Western European countries.
Prices are of course higher for apartments with multiple rooms. There are also apartments with 1 extra room, 2 rooms or 3 rooms.
For a 3-room apartment you can easily spend more than a ton.
In most cases the occupancy rate of the apartments and bungalows is high. The chance that you will earn back your investment is quite high. Usually it is worth the investment, although you should of course check and investigate this for yourself.
It is a great place to stay in both summer and winter, especially if you see the possibilities and take advantage of them!
Now that you know approximately what you can expect when you invest in real estate in Bansko, we would like to tell you the pros and cons so that you can decide for yourself whether it is something for you.
These are the advantages of investing in Bansko:
And the disadvantages:
Investing in Bansko offers numerous advantages for both new and experienced investors. It combines an attractive property market with a growing tourism sector, resulting in the potential for stable income and property appreciation. With its strategic location close to popular ski resorts and natural attractions, Bansko remains a favourite destination for holidaymakers, keeping demand for rental properties and accommodation high.
In short, Bansko offers a unique opportunity for investors looking for a growing market with great potential. With the right approach, investing in this picturesque town can be a profitable and rewarding venture.
Together with our connections, we are happy to help you purchase lucrative real estate.