Should You Invest in Pamporovo Property in Bulgaria?

A detailed look at the investment potential of property in the Bulgarian ski resort of Pamporovo for potential buyers

The picturesque and tranquil ski resort of Pamporovo in the Rhodope Mountains in Bulgaria is a purpose built resort growing in popularity with ski tourists from the UK, Ireland, Greece, Turkey and also those heralding from elsewhere in Bulgaria itself; because the level of tourism interest the town receives annually is increasing and Pamporovo has a summer season as well, many property developers have turned their attentions away from the well explored real estate market in Bansko to examine the potential in Pamporovo.

So, should you invest in Pamporovo property in Bulgaria?  Is it a well priced market with decent potential for earning rental income as many are suggesting or is it just a flash in the pan likely to get over sold and under perform for those who buy in at this particular point in time?  Let’s examine the evidence.

Bulgaria has three main ski centres in Bansko, Borovets and Pamporovo and each of these resorts has different unique features, benefits and attractions.  Fortunately for Pamporovo it benefits from being located in a perfect setting where it’s beautiful, sheltered and surrounded by many sites of historic, cultural and natural interest, it’s set within stunning surrounding countryside and has good amenities and facilities locally and in the nearby town of Smolyan.  Furthermore Pamporovo boasts a range of ski slopes which are suitable for differing levels of ability and it has an attractive summertime climate meaning that it has two tourist seasons.

All this adds up to one fact – Pamporovo is worth investigating if you’re looking for well priced investment property in Bulgaria with decent rental potential and room for price expansion!

The main reason why Pamporovo is considered such a good bet by many property investors is because unlike the Black Sea resorts where there is only a summer season for tourism demand and Bansko where there really is only a strong winter season demand, Pamporovo really does have two strong seasons in which a property owner can earn an income from rent paying tourist tenants!

However – not everything in the garden of Pamporovo is rosy – last winter for example many cancelled their ski holidays in this resort because it suffered low snowfall during the first two months of the season.  Additionally, because so many developers and investors have been drawn to Bulgaria and its property based potential, a lot of new developments are springing up all around Pamporovo and Smolyan yet only those located closest to the ski lifts rent really well.

If you do want to buy into property in Pamporovo in Bulgaria as an investment choice then look for real estate that is well located and which comes with good onsite facilities and amenities such as a gym, indoor pool, sauna, Jacuzzi etc. 

One final point to mention is that some developments offer guaranteed rental returns - ensure these guarantees are based on the development and management team having holiday package deals in place with the leading tour operators rather than the developer using part of your purchase price to ‘refund’ you in the form of rental income for the first three years for example.  This is a common trick that many developers use and it means that you pay over the odds for your property in the first place and after you get your excess payment back in the form of ‘rental income,’ chances are there is no one lining up ready to rent your property in Bulgaria and the rental income dries up.