Hi David. Thanks for the input you are very interested in how much people paid.. :-) My place is near the gondola with a restaurant, but, no other facilities. It has access to all 4* facilities in the next building. It is a nicely spec'ed small apartment block. It is called the refectory. I paid a lot less than most. If you absolutely must know I am happy to say, but, I would prefer not to upset anyone. Have you got any contact details for the rental side of things? How much % goes into your pocket? Thanks!

sure, i understand. I have a contact but they only manage the Mountain Paradise 1-4 apart hotels. I don't think they'll be able to help. (if you want it I'm happy to give you a name) The 11% is net of management so I pay electricity/heating/spa out of that. It's actualy 94EUR/sq M which works out at just over 12%. (no points for guessing what i paid) This contract is for 6 months of the year only so any other 'out of season' business is a bonus on top. They take 25% out of any 'out of season' business. Did you know the chief analyst at PS has invested in Bansko - makes me laugh when I think of all the PS punters who have invested in CEE on the back of advice given by someone who put his money in Bansko...makes me laugh every time... ha ha.

I recall "property buying abroad" or something like that launched its first series with a programme on a woman buying in Bansko. It presented the area as a sure fire moneymaker and claimed huge first year profits on the purchase. I wonder how many of the viewers were influenced to buy in Bansko and whether there are any plans for a follow up. Or perhaps it could feature in a future episode of another property programme fronted by the same presenter "property disasters abroad". Regards Alan

Yeah, know what you mean...maybe I should volunteer to go on the show, phone that Amanda Lamb bird up, give her what for. Mind you, I can't really grumble at 12%+ I think too many bought without a profitable hold or exit strategy.

David the one I was thinking of is presented by a bloke not bird, but much the same otherwise. Regards Alan

Hi David, I would be grateful for the name. They may be able to help, although I have found that most are friendly, but, useless over there. It is nearer 6% net p.a. then (only 6 months) + bonus rentals? You did get a good price. How far is it from the Gondola? It looks very nice. Are you talking about Simon Tweedle? I believe he has sold on since, but, amusing none the less Alan :: you are right. We were taken by some over paid agents and developers. Who would have thought it, someone greedy persons cheating others out of their hard earned. I prefer to earn money ethically and with little or no pain to others. If they are so desperate to make money they are welcome to mine. I hope PS does not share there ethics. If we knew the first thing about property investing at the time of purchasing we would never have done this. A lesson for all??

David, Would appreciate your "rental" contacts name/details, even if he/she cant help directly, might be able to point me in the right direction of those who can. Given we all have concerns about our investments in Bansko, I reckon we should post as much positive info as possible through PS. If I pick anything up along the way, I'll post asap.

David/Brendan/Alan: Guys what's your views on the "profitability" of Bansko going forward?

Stewart, I have chosen to be realitively passive on the Bulgaria property rental. I figure that they may get the rental right in a couple of years as IF the market is not completely saturated, and they can learn some basic business skills. I will of course accept rental, but, I will not lose hair over it. The best I can do on profitability is to say it might do OK. This is not really the idea when "investing", but, that is as good as I can say at present. There are so many mixed views on the subject. If people stop buying off plan it MIGHT work. A resale market must be allowed to develop. Most property eventually goes up in value. etc.. I have just received a report on my rental for last season. I waited 3 months to be told I owe my rental company approximately 500 EUR for them renting and maintaining my places last season.. :-) Read the article that Simon Tweddle wrote. Use this as a lesson. Start researching.. :-) Keep a realistic amount of money put by in case of cash flow requirements etc..

It's 12% plus bonus out of season occupation. They pay me 12% of the apartment price per annum for six months usage. So I get income from the other six months too. I paid 650/sq M plus VAT, so 780. My accountant is reclaiming the VAT so my yields are boosted by 20%, taking them up to 14.4%+ FYI: it's 300m from the gondola so further than yours (i think)

Sounds like you got a good buy. I have not been anywhere near as fortunate. It has been a nightmare and continues to be.. How is your accountant managing to get the VAT off? Perhaps I can get this off? I did not think you could get the VAT off property..