Real estate market in the region of Bansko has been one of the most dynamic for the past two-three years. Most of the building plots have already been bought, and more than 80% have already been built up, imoti.net announced.

Investors and constructors observe one principle – to build fast and to sell immediately. The reason – investment stands at 300 euros/sq m, and profits can reach 1,100 – 1,200 euros/sq m.

So far, profits were good. Last winter however proved things could be different. The dry winter, which kept tourists away from the winter resorts, hit the small hotel owners.

In April, which is traditionally an active period for the Bansko real estate market ahead of the new winter season, things don’t look so good for investors. Real estate agencies’ data shows that apartment prices have not changed from their March levels. In the center of Bansko old brick apartments are offered for 700 euros/sq m, and new constructions – 1,200 euros/sq m. Prices are only higher around the Ski track – 1,400 euros/sq m, but supply and demand here is pretty low. The price of land in Dobrinishte in April was also the same as in March. Owners ask for 60 euros/sq m. Only prices around the golf-complex remain high – 100 euros/sq m.

In this situations forecasts are clear – the current stagnation can only be explained with the lower interest in the numerous offers. If the market situation is not regulated by this fall and demand doesn’t increase, experts warn of a risk of real estate market collapse. Some experts say prices in April 2008 will already by around 700-800 sq.m, especially if the winter doesn’t show signs of coming back.