Bansko Property: Prices Update Spring 2021
The Bansko property market is active. Cristian Zarnescu, owner of long time established agency, pluspropertybg.com, takes a look at what’s been happening in real estate. He advised me that it’s all change now. Even since just October 2020 to now in late March 2021 there has been a significant increase in buying interest from Bulgarians; they are now making about 70% of buyers.
Bulgarians are buying in Bansko because the price of apartments are still cheaper than virtually anywhere else in Europe. Also they are buying with their bank account savings because they are worried about general inflation. Many Bulgarians have never been wealthier. Some are living in Bulgaria whilst working for international companies. This has quickly increased their savings. They have a lot of spare cash to invest…
Full Disclosure: This is a sponsored article from PlusPropertybg.com. Please do your own research. Not investment advice.
Bansko property prices
Buying property, whether it’s an apartment or house or land, is one way investors see themselves sheltering from the expected inflation – from central banks money printing. Bansko is especially attractive due to it’s incredibly low property prices.
Prices are increasing
Studios in 2019 and 2020 sold at an average €14,000 to-€15,000, now they sell at €17,000 to €18,000.
One bedroom apartments that were selling at €23,000 to €24,000 now sell at €25,000 to €30,000.
Two bedroom that were €27,000 to €33,000 only two years ago are now selling at €33,000 to €43,000. If they are of a good size, well proportioned, tastefully decorated and get sunshine, then they are selling for more.
Bulgarian nationals are looking for either cheap property at €400 to €450 per m/sqm, or low maintenance, or higher price and maintenance but very nicely decorated, south facing and/or with mountains views and a fireplace. The growing demand for Bansko property is set to accelerate and we are therefore expecting a high likelihood of higher prices in 2022.
There is the growing trend of remote workers coming to town looking for long term stay and quite a few are now buying Bansko property.
Resale units wanted
A free and accurate valuation and a no-cost listing.
Plus Property have a busy office on high street Bansko, at Pirin Street nr 20. They are looking for more stock to get ready for expected demand this spring.
Tips for Selling:
Have the apartment clean and organised. Have some wall decoration, bed cover, carpets, pillows, makes apartment look more homely and unique as too many apartment in Bansko are spartan or same boring furniture/ style.
Advertise with 2-3 agents, As market is not regulated, as in the UK with a central database, if you advertise with only one agent, other agents do not have access to your property info; this way, the seller receives a better valuation, more viewings, more clients, sell quicker and at a decent price.
Plus Property need More property needed. Contact them for impartial advice
Plus Property advise that they offer a correct valuation and a balanced service to both buyers and sellers.
Tips for Buying
- Use an experienced agent to help you understand differences between various locations, buildings, management companies and apartments, so to help crystallise an idea with what exactly you like and want. A good agent can help with that, and then shortlist 2-3 best properties that matches your needs , for you to view.
- Once you have a clear view of what you like, see some apartments over a short period 2-3 days, 2-3 weeks if in town, if you something that feels right put a deposit on it, as they are many agents with many clients and properties sell pretty quick as lately.
- Appoint an independent lawyer to check the property title, loans and maintenance payments.
- Appoint a lawyer to check the property in your name and to represent you at the notary, if buying from abroad.
Things to remember
Investing in a hard asset is probably better than keeping your fiat money in banks, or under the mattress. Property will help preserve the value of your savings. Buying now means buying at under the actual build cost. The current build cost including land, permit, project, building costs, furnishing and taxes are at about 650 euro/sqm .
If you buy under €650, currently selling at average €450 to €550 euro/sqm, you should have a nice gain in the medium to longer time period.
The best value of an apartment in Bansko is by using it. Bansko has many things to offer as lifestyle, food, climate, holiday, activities, relocation and lately as Europe’s most popular mountain digital nomad / remote working / freelancer workplace.
Latest Bansko Property Offers
1. Click here See the latest one bedroom apartments for sale here:
2. Click here to take a peak at the two bedrooms apartments for sale here:
More examples:
Click here to view a recently refurbished two bedroom, two bathrooms in Top Lodge with indoor pool, ski locker, rental management, garden.
Click here to see a three bedroom, four bathroom, 180 sqm chalet on four floors, with underground garage; close to centre. at €125,000.
More offers: pluspropertybg.com
