Hi Does anybody have any views on Galliards forthcoming launch of apartments in an apart hotel in Bansko.They are also offering holiday apartments.What would be the better investment,if any,the normal apartment or the serviced hotel apartment run by Park Plaza? I understand the devolopment will be in Razlog near the new golf course is this a good location for ski lifts and future developement? Thanks.

Hi Patrick I went to look at property in Bansko nearly 3 years ago. I think it's worth saying that despite all the agents claims of 'rapid growth at 30% a year' etc, new builds don't seem to priced very much more now than they were then....about 35K. There is currently next to no rental market, the resort is totally deserted in the summer months, there is no resale market, and there is a massive, enormous oversupply of property. That said, Bansko is a really cute,picturesque little place, or the old town is at any rate, which is 20 mins walk from the lifts. One day it may or not be a booming resort. If you have a spare 30K to tuck away and not think about, if you fancy a little bolthole in a resort that currently offers very limited ski-ing but you might use just to be in the fresh air etc with your sprogs, or you fancy taking a punt letting your flat to a holiday company - currently offering v poor returns - due to enormous oversupply and lack of booming tourist market, then Bansko is an option in terms of being a nice place. However, if yield, gearing, growth, rental, resale are of importance to you....I would forget it. There's far better places for your money. Good luck Dan

Hi Dan Thanks for the advise,nice to have an honest opinion.I'm looking for somewhere to use a few weeks of the year(school holidays) That will make some money when I'm not using it without any hassle. Any ideas? Thanks. Patrick.

No worries Patrick. I'm afraid that that sort of property doesn't feature in my investment strategy, so I really can't advise, but I'm sure some other members may well have ideas. Best Dan

Hi Dan Not to worry. Thanks again for the advise. Regards Patrick.

Hi Patrick The other issue with ski resorts is snow! I have heard a rumour that the lack of snow this year is making banks more cautious about lending on ski properties below a certain altitude. I believe that Bansko may get caught by that change in attitude. Cheers Neil ps. My advice - but an investment (which will be city based - not ski or sun) and then use the profits to enjoy great hotels anywhere in the world. Don't get conned into thinking a ski shack is an investment - it is not (in my humble opinion).

Hi Neil Point Taken.Thanks for the advice. Regards Patrick.

Patrick - I belive the Galliards slogan for this development was "buy at the peak".....appears from the comments here that they have summed it up nicely!! I don't think you'll make a short term gain in Bansk due to oversupply and the long term depends on snow conditions.

I have a theory about apart hotels, esp. those with a rental guarantee. This is what I would do if I were a developer : You can get away with overpricing the appartments, because of the rental guarantee. Set the rental guarantee to above what the market would normally yield, thus luring in buyers. Finances the rental guarantee using some of the extra cash you've made on the sale. Get off site before people realise that the real achieveable rental is below the rental guarantee. Only my cynical viewpoint. Andrew

Andrew, you're spot on. This happens all the time. I tend to think that the property must be overpriced if there is a rent guarantee. Wouldn't touch Bansko with a barge pole personally. Huw