I have purchased an investment property in the ski resort of Bansko, Bulgaria, due to complete Dec 07. Debating rental versus resale due to relocation to Australia from UK. -Does anyone have first hand experience in renting within this resort? Yields/Occupancy Rates? -Would anyone have any resale contacts/advice relating to this resort?

I made the same mistake as you prior to researching what property "investing" actually is. I bought almost 4 years ago prior to there being a complete saturation of this small village. I fear you will not be able to profitably either resell or rent. It is a beautiful place for a holiday home if they eventually stop building. I wish you all the best with it. I made almost 300 EUR 2 years ago with 5 apartments! It cost me a lot more to hold them this past year.. :-) I hope you have more luck than me..

Brendan, Thanks for the return! Alarm bells are starting to ring regarding this one, although the resort is developing and i'm told the off plan should start to settle. I'm thinking I will have to hold my nerve and aggressively market the rental as best possible, until the infrastructure improves and the capital gain kicks in. Then I might break even and get my investment back out. Two Questions: -Of the rentals you did secure, how did you secure them? -When you re-sold, how did you find a buyer? Any help would be appreciated!!! Stewart.

Hi, I have not managed to resell. I almost sold one, but, it fell through. I have given up on that for now. I am a little lazy and bored of this. The rental you will have to investigate yourself. I tried property management BG - they made me very little. (they need the whole development to make it work in fairness..) Then I tried to use my developer's rental company - I now owe them money after rental from last season.. :-) Please do come back to me if you have a little more luck than I did.

Currently having conversations with an agency, they have apparently invested heavily in a new rental system. Software and marketing, attempting to link with various travel companies. Early days, they are setting themsleves a target of 70% occupancy rate for my development. I'm sceptical to say the least! Will post an update with any positive info gained. Thanks again. Stewart.

I've got 3 apartments let through a tour operator, the return is 11% net / year on a 3 year contract. The development is listed on Balkan Holidays and other web based travel systems. Resale is non existent. I have not given up on Bansko (I know others have) The ski runs are officially being extended by 40K, a new shopping mall with casino has begun.

What price did you pay?

I've got 3 apartments let through a tour operator, the return is 11% net / year on a 3 year contract. The development is listed on Balkan Holidays and other web based travel systems. Resale is non existent. I have not given up on Bansko (I know others have) The ski runs are officially being extended by 40K, a new shopping mall with casino has begun.

What price did you pay?

Thanks for the reply David, Paid 85,000 EUR June 06, 1 Bedroom 60sqm. The development is top end 4 star. Facilities are excellent, invested in a development geared towards attracting tour operators. Hoping this works in my favour when trying to attract rentals. Initially, bought this as a holiday home, took the investor head off! Wasn't relying on rental income and would have been happy with long term growth following the establishment of the resort and infrastructure. Now moving to Australia and the picture changes! Relying on rental income with resale looking bleak at this stage! I suspect capital growth wont kick in until the off plan activity settles. Stewart.

Any tips/hints in securing rental? Recomended letting agents/management companies? Interested in your views regarding the long term future of the resort v's investment potential?

David, how have you managed this? Can you tell me how you have set this 3 year contract up? Was it through your developer? Any info gratefully accepted..

yeah it's with my developer. They manage the Mountain Paradise apart hotels.

where is your apartment & how much did you pay?