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BanskoBansko is the fastest developing ski resort in Europe. Bansko has enjoyed over BGL1 billion (€0.5 billion) investments during last 3 years. Over 800 acres of land has been sold for development and over 2,500 properties have been purchased in a town with population of 10,000. The ski lift build in 2002 has a capacity of 10,000 people per day. Nationalities of clients buying properties in Bansko are as follows (in order of completed transactions): Bulgaria, Russia, UK, Ireland, Italy, Greece, France, USA and others. Property prices in Bansko have doubled for less than an year. Bansko is one of the most expensive locations on the Bulgarian properties market with average prices of €850/sq.m. Compared to the 30% - 40% average nationwide property prices growth in 2004, Bansko's 70% price growth clearly outperforms most other areas in the country. Prices for Bansko off plan developments start at €700/sq.m. reaching €1,400/sq.m. For comparison in December 2003 property prices of Bansko off plan apartments have reached €500/sq.m. Apart from the boom in Bansko property prices there is unprecedented growth in new infrastructure investments. Major developments in Bansko are off plan apartments with total build area of over 180,000 sq.m. There is also a growth in hotels reaching 7,000 beds compared to 3,000 an year ago. The target for the Bulgarian properties investors in Bansko is to reach 12,000 beds accommodation capacity. Along with Bansko off plan apartments and hotels, significant investments are being done in various facilities including 2,500 sq.m. of new shops, restaurants and cafes. Land prices in Bansko have jumped from €90 - €120/sq.m an year ago to €200 - €400/sq.m |
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