Bansko Property

Bansko is a Bulgarian town located near the river Glazane. The town is located about 100 miles from Sofia, one of Bulgaria´s largest cities. The name "Bansko" derives from a Bulgarian word meaning "master".

Aside the famous ski resort, Bansko is a historic city with great architecture and restaurants with traditional Bulgarian cuisine. The Pirin National Park, just south of Bansko, is on the UNESCO list of places of historic interest. Bansko people are also known for their warm hospitality.

Currently Bansko has also become a great turist destination all year round.

Despite the international crises, a property in Bansko is still in high demand and hard to come by. Bansko is Bulgaria´s most famous and cosmopolitan sky resort.

Bansko has the best snow in Bulgaria and a 5 month ski season, from December to May 15th. Currently a new area with luxury hotels in under development in Bansko, adding to the region´s already great offer of hotels and luxury apartments.

The Bansko ski resort is located between 2100 to 2600 meters above see level in the Pirin Mountain range. Alongside great skiing conditions, Bansko is also sought after by snowboarders.

Bansko has over 40 miles of ski runs. If you think you might want to try skiing or snowboarding, you will also find a great selection of rental material equipment at the resort.

Like is the case with most of the world, the Bulgarian real estate market is going through a tough time. Expert however say that those willing to take the plunge now will reap benefits in the future. Cities such as Bansko, Sofia, and coastal cities offer long-term possibilities.

In 2008, turism revenue grew over 8%, and the country offers great potential. Bulgaria is currently ranked 8th on the "Top 10 overseas location" list.

Finding the perfect property in Bansko isn´t as complicated as it might seem at first, and, if you follow these tips, you should avoid any problems.

• buy an existing property or from a developer that can show completed projects. Don´t rely solely on beautiful pictures.
• Foreigners cann´t hold land in Bulgaria, so if you are buying an apartment in Bansko this won´t be a problem, but if you are thinking about a villa or a house, you will need to set up a limited partnership.
• It is customary to haggle prices, so don´t pay the full asking price. Especially in the current economic environment.
• After you agreed on a price, higher a lawyer that represent you and only you. Don´t use the real estate agency.
• After all is agreed, you will be asked to sign a contract and deposit about 10% of the price. You will forfeit this amount if you decide to back-off of the sale.
• Make sure the property is surveyed and a title search is conducted. Again, have your lawyer do this for you.
• The signing of the contract is the next step. This is done at a public notary and you are expected to pay the remaining balance if the development is complete.
• Move in to your Bansko property
• Get property insurance. Although crime in Bulgaria is no worse than the rest of Europe, vacation homes are easy targets. You might also consider putting bars on the lower lever windows and taking other precautions.

Last but not least, enjoy your Bansko property and hit the slopes!