Q. Is there going to be a second Gondola in Bansko?

 

A. Yes, this has been planned for some time and the announcement of the location is imminent. The preferred location will be closer to St George’s Lodge than the current Gondola.

 

Q. Is Bansko going to have a local airport?

 

A. Yes, tenders have been received from American companies to convert a local military airbase. Construction will take about 2 years and will give Bansko one of the shortest transfer times in Europe. Low cost and charter airlines will be able to fly in to this airport from the UK.

 

Q. I have read that there is a lot of development in Bansko, is there a risk that Bansko will be over developed?

 

A. Planning regulations have been tightened in recent months in order to slow down the rate of build in Bansko. This means that development in Bansko will effectively be finished in the next 2 years and the infrastructure of the resort which is being developed quickly will match the number of beds in the resort.

 

Q. What legal support is available in Bulgaria?

 

A. Buying an apartment in St George’s Lodge is a simple process. Contracts have been drawn up by a British Embassy recommended lawyer in Sofia and the signing of these is done in the UK. Buyers can instruct their own lawyer however this is not obligatory.

 

Q.What affect has EU accession had on the economy?

 

A. The economy is developing very quickly and prices and property values are rising fast. EU accession in January 2007 has delivered an increase in international investment and the mortgage market is maturing fast stage payment finance has been approved by a number of lenders.   

 

Q. Can I get a mortgage in Bulgaria?

A. Yes, Parc has partnered with Bulgarian Home Loans, the UKs most successful broker of Bulgarian Mortgages. For more information please contact Darius Virabi.

 

darius@bulgarianhomeloans.com

 

0845 456 7148

 

Q. Are there problems over title and ownership on Bulgarian property?

 

A. Because Bulgaria has joined the EU, they are very keen to make property purchase as simple as possible. There are no problems with ownership and all properties will come with a clear legal title.

 

Q. Aren’t Bulgarian properties a lower spec than comparable Western European properties? 

A. As a rule, yes. However Parc is developing properties which are to a similar spec to UK properties. All will come fully equipped with kitchens and bathrooms, unlike a lot of Bulgarian property. We will also be able to supply a full furniture pack.

 

Q.Why buy in the ski regions, rather than on the coast?

A. Sunny Beach and other Black Sea areas have been highly over-developed. Capital growth has been high, but the quality of build has been low. We look for sustainable growth and a quality specification. The ski regions in Bulgaria have become very fashionable, and continue to grow in popularity. Rentals are very strong, and the area benefits from both a winter and a summer season. Parc selected Bansko because of its status as the leading ski resort in Bulgaria.