Innovative property investments
Investment Property in Bulgaria
Mountain Areas
Borovets
Expanding resort
Borovets is already a well-established ski centre with world class alpine slalom and biathlon runs and Bulgaria’s oldest mountain resort, dating back to 1896.
A joint local government-private initiative underway since 2004/05 is seeing it transform itself into SuperBorovets, a year-round active holiday pursuits attraction with a potential visitor capacity of nearly 20,000 by 2009.
Park setting
Bulgaria’s alpine resort takes its name from the thousands of ancient pine trees amidst which it nestles (“bor” in Bulgarian) and is set in an area of outstanding natural beauty in the shadow of the country’s highest peak, mount Musala (2925m).
Bordering the Rila National Park, Borovets lies alongside one of Europe’s most valuable protected areas.
The huge park is a Category 2 listed World Conservation Union site, a UN listed protected area and parts sit within the World Biosphere Reserves Network.
It is therefore packed with potential to attract year-round visitors.
Highly accessible
At only 72km along good roads from Sofia’s International Airport and a three hour flight from London, accessibility is one of Borovets key selling points and an advantage it holds over the country’s other ski centres.
Now Bulgaria is part of Europe’s open skies, access will be even easier.
International fixture
It is renowned for its bountiful snow falls and mild winters with a season from mid-December to April.
Due to its world-class alpine slalom and giant slalom runs and biathlon track, it has twice played host to World Cup Alpine skiing rounds, held the 1993 World Biathlon Championship and is a fixture in the international competition calendar.
For the winter holiday enthusiast it offers the full range of winter sports, a happening night life and a whole host of off-piste activities - an offering set to expand under “SuperBorovets”.
Fun in the snow
The resort’s 45km of varied ski runs (19 pistes) are organized into three centres.
The central site (1337-1780m) offers 19km of four difficult red slaloming runs at Martinovi Baraki and an additional four medium-to-difficult pistes at Sinyakovo, with beginner slopes lower down.
Further up, Yastrebets (1340-2369m) offers three of the resort’s best runs and plays host to the international competitions.
The resort’s season starts and ends higher still at the Markudjik ski centre (2340-2550m).
Its four challenging red runs totaling close to 5km test the experts, especially its International Skiing Federation approved giant slalom.
Other snow-oriented options include the 18km of cross country runs, training runs and international-standard biathlon tracks just 2km from the resort as well as snowboarding, skidoos and tobogganing.
For extremists, there are two ski jumps with runs of 75m and 50m and heli-skiing - a helicopter ride to challenging off-piste runs under the watchful guidance of qualified instructors.
Those not keen on such heart-in-the-mouth experiences can take advantage of Borosport’s “View-Fly” service - a gentle helicopter flight over the resorts stunning setting - no skiing involved.
The magic of night skiing is an opportunity not to be missed. Borovets possesses four runs open, and floodlit, until 10pm for one to zoom down to musical accompaniment.
The chairlift ride over the town’s twinkling lights is worth it in itself and the lower-priced passes mean you are getting more skiing time for your money.
Good infrastructure
The lift infrastructure is well-developed and includes a six seated gondola lift taking you on a spectacular 20 minute journey to Yastrebets’ peak, 4827m up, with views of Rila’s mountain summits (Musala, Malka Musala, Irechek, Deno and Aleko).
The most modern equipment maintains the pistes in perfect condition and is upgraded every year.
14 snow cannons guarantee 120 days of snowy tracks across two ski runs with plans to purchase enough to ensure skiing on 80% of slopes.
Perfecting your plough
Beginners and families are particularly well-catered for at Borovets.
There are a large number of easy slopes, a new dedicated practice stadium for beginners and an excellent, world-renowned ski school with 200 plus instructors.
In fact, along with the low prices and varied nightlife, what the many returnees mention most often is the great teaching they received here.
Experts can take lessons from Bulgaria’s (now retired) alpine ski champion, Peter Popangelov.
Après ski time
After the slopes, bowling, table tennis, billiards, gyms, swimming, saunas and spas are available in the big hotels.
A rich variety of eateries stand along the resort’s central avenue.
Here Italian pizzerias and Chinese restaurants compete with Bulgarian folk-style taverns offering native cuisine, world-famous home-grown wines and nights of traditional music and dance.
Visits are also organized to Bulgarian family homes to taste the local specialities in their genuine setting.
Full of bars, cafes, night clubs, and discos open until the early hours, Borovets is known for its party atmosphere.
Popular late night haunts include the British-favoured Buzz Bar, the Mamacitas and Bonkers discos along with the live music at Chernata Kotka (The Black Cat) and karaoke-fun in the Black Tiger, Peter’s Bar and Happy Duck.
SuperBorovets
The SuperBorovets vision, worth roughly €400 million, will extend the resort east and west, taking in Samokov town and Beli Iskar village, respectively.
Ski runs will grow to more than 60km or twice their current capacity, 50% of which will be made suitable for beginners and intermediates.
One already under construction will enable skiers to return all the way to Samokov on their skies.
The ski facilities of the mega resort will boast a capacity of 27,000 skiers an hour.
Two new cable cars will connect Samokov with Sokolets Peak and the resort’s highest pistes in Markudijitsi.
A final total of 23 wire lines and numerous tow lifts will minimize queuing and ensure easy movement between the various pistes and centres.
The resort will be enhanced with football fields, tennis courts, swimming pools, riverside parks and a horse riding centre.
Overall, bed capacity will grow to nearly 20,000 by 2009, with budget and family accommodation below existing (and to-be-expanded) Borovets and luxury hotels and villas above it.
Over-construction is being keenly avoided, including retaining the uppermost pistes as a skier-only preserve. Here, no large hotels are to be built, only the services necessary for a fantastic day on the slopes.
Fun all year round
Core to the project’s objectives is developing Borovets into a four season crowd-puller and much of that already exists.
Given that Rila National Park is on the doorstep, scenic walking tours are plentiful and range from a one and a half hour stroll along the river Maritsa to a full day hike to the tranquility of the mountain range’s lakes and peaks.
An hour away is the World Heritage listed 10th century Rila Monastery containing fantastic wall-paintings, frescoes, icons, manuscripts and a Renaissance masterpiece - a wooden cross with 140 microscopic scenes from the Bible depicting figures no bigger than a grain of rice.
Even closer at hand is the former Bulgarian tzars’ residence, Bistritza Palace, just a 10 minute walk away.
History-rich capital city, Sofia, offers a wealth of sightseeing along with excellent shopping.
Plovdiv displays a 6 millennia-long history through its Roman stadium, Antique theatre, Christian churches and Renaissance houses.
For those who like their wines, nearby Melnik, the country’s smallest town, set amidst sandstone pyramids, is a sampling must.
Golf will become a major feature with two new courses constructed at the resort’s lower level: one near Samokov town between the Bistritsa and Lukovitsa rivers and the other, to the north, at Shioka Polyana.
A third, huge, international championship golf course designed by Jack Nicklaus Golf is projected to open in 2008 at Dolna Banya, just 15km to the east of Borovets, and already famous for its fine mineral water and abundant spas.
Property guide
Borovets is a long established resort with strict building controls in place which means that there is less new property available than in other resorts keeping prices high.
Consequently, the average sale price for residential estates in Borovets in 2006 was 1,026-1,748 EUR/m2 (690-1,200 GBP/m2).
As always, new properties with a good range of facilities, close to the lifts, restaurants and nightlife, have good rental potential, with rental agreements sometimes included.
Resale apartments are sometimes available in older chalets, though they normally don’t have the facilities of the newer developments which makes them more difficult to rent out.
In the villages surrounding Borovets, older properties in need of refurbishment are available and usually come with large gardens.
Prices for these vary greatly and rise considerably within a 10km radius of the resort.
Downloadable Reports and Documents
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