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Vacation Property Supply In Bulgarias Winter Resorts Increases Four Times

The supply of vacation property in Bulgarian winter resorts increased nearly four times within the past 18 months, Colliers International market research showed.

From June 2006 to December 2006 vacation property offering increased by 50 per cent and the current number of offered properties is nearly 18 000, Bulgarian National Radio reported.

Nearly two thirds of the vacation property for sale can be found in Bansko. High property prices in the resort are expected to influence the supply, which will possibly move to Borovets and Pamporovo, research showed.

Vacation property offers at the seaside increased sufficiently in number, registering a 53 per cent increase for the period, Colliers said.

One third of total property supply in summer resorts is in Sunny Beach, where the market experienced a 65 per cent increase. The tendency is the interest in smaller resorts to increase because of high property prices and over-construction in the larger ones.

British and Irish followed by Bulgarians living abroad, Russians and Germans form the largest groups of vacation property buyers.

The highest prices of vacation property in the summer resorts were registered in Sunny Beach, St. Vlas and Elenite. Bansko is the most expensive winter resort.