Pearl Property News & Blog

Ski season in Bulgaria’s southernmost resort of Pamporovo

18th January, 2010

The ski season in Bulgaria’s southernmost resort of Pamporovo in the Rhodope Mountains is due to open on December 19 2009, a media statement said.

The newest attraction at the resort is floodlights installed at the Snejanka 3 slope as well as the Stanata (The Wall), Pamporovo’s most demanding slope. The media statement also says the complex is equipped with a new dental and first aid medical centre, Medicus Alfa, which will operate 24-hours.

The resort currently has more than 19km of slopes, 95 per cent of which can be serviced by snow cannons if needed. A brand new six-seater lift has also been installed as well as a recreational park and an “extreme park” all within the premises.

Finally, the report’s authorities believe that with the inauguration of the new border crossing point between Bulgaria and Greece at Zlatograd, many people in northern Greece will visit the resort, thus boosting the local economy.

Greek tour operators have been invited to attend the official inauguration ceremony on December 19. Tourists are also expected to flock from Serbia, Macedonia and Montenegro after the visa regime for the aforementioned countries is officially dropped the same day.

Sofia echo reported today

18th January, 2010

A new weekly Moscow – Plovdiv – Moscow flight was inaugurated on December 25 2009.

The carrier is S7 Airlines, described in a report by Bulgarian news agency Focus as the second-largest airline in Russia after Aeroflot.

Flights will be once-weekly on Fridays.

The airline has several connecting flights to destinations in the Middle East, which could boost passenger flow to Plovdiv, Focus said.

An upgrade of Plovdiv Airport was completed in 2009 after an investment of about 40 million leva, but more funds will be required to revamp the airport completely.

The airport, frequently used by tourists headed for Pamporovo and other Rhodope destinations, is said to service about two million passengers a year.

Monday, 18 January 2010

18th January, 2010

Traffic at the Ilinden–Exohi border checkpoint between Bulgaria and Greece was open on the morning of January 18 2010, with private vehicles and buses allowed to pass but lorries were being stopped, Bulgarian daily Dnevnik said.

The Greek farmers strike was scheduled to start at 11am on January 18 and the farmers duly sealed off the border, but only for lorries. According to Greek authorities, lorries queuing on the border would be allowed to trickle through between 3pm until 5pm. However, vehicles ferrying timber and dairy products would not be allowed to pass, Dnevnik said.

For the time being, the other three border crossing points between Bulgaria and Greece were operating normally, although it was uncertain for how long.

Bulgaria’s Interior Ministry and border police have warned Bulgarians not to travel to Greece unless “absolutely necessary”. Authorities say that any trips to Greece while the blockade is enforced are likely to result in “serious delays, traffic jams and substantial financial losses”.

Greek daily Kathimerini said that more farmers from Serres were expected to descend on the Promachonas crossing on the border with Bulgaria from January 18, and that wider protests could follow in coming days as farmers stepped up their demands. The blockades are expected to last at least five days.

14th Dec (Sofia echo reported the following)

18th January, 2010

THE Irish tourist with whom I was sharing lunch had a gleam of happy enthusiasm in her eye.

We were having lunch a short falling distance from the beginner’s slopes in Pamporovo, while her husband and my wife were off further up Snezhanka peak, skiing on slopes appropriate to their respective degrees of skill.

The Irish couple was from a town just south of the Northern Irish border. For her husband, it was the latest of many visits he had made in the past 20 years. It was her fourth, and she and two of her small children were sharing a novice skiing class with me. She laughingly confessed it was not the first time that she was trying to learn to ski. This time was to prove no success either. She and the children did not turn up after lunch on day two, and after that I found myself by default in an individual class. Not a bad thing, although she and the little children had made good company for me; but we Africans need special attention in skiing classes, because we are just not used to this crunchy white stuff called snow.

Back to lunch, and back to the Irish. Of her husband, the tourist told me: “he just loves Bulgaria. And so do I”.

There were many accents like hers to be heard in Pamporovo in that week, cheering each other on down the slopes, keeping the bar people busy, and occasionally braving an attempt to haggle with Pamporovo’s taxi drivers.

All this past year I had followed with great interest the unfolding saga of Bulgaria’s tourist industry. The Sofia Echo takes the subject sufficiently seriously that we run a column on it every week. Of course, few Bulgarian newspapers of note had failed to record the reports published in foreign countries about tourism in Bulgaria.

Conventional wisdom has come down to a number of points. One is that Bulgaria’s tourism industry is ever-growing. Another is that a threat to it is that the country will not remain affordable, and related to this point is that the country will have to do a lot more than simply sell itself on the basis of being cheaper than other destinations. A further, and much-reported, issue has been that of “construction tourism” at seaside and winter resorts, with construction continuing during the respective high seasons, and alienating visitors.

Well yes, I had seen media reports of some controversy about construction continuing at Pamporovo, although during our daily commuting between our hotel and the slopes, I saw no evidence of it. Yes, Pamporovo is less “affordable” than it was when we first visited together four years ago.

Time for a few realities. The Irish tourist couple did not regard cost as any kind of factor. Before you rush to say that spending leva means nothing to wealthy Europeans, this is a couple composed of a husband who is a teacher, and a wife who broke off her career eight years ago to produce their three children – the youngest just 11 months ago.

What was it this couple enthused about? The atmosphere. The people – Bulgarians, themselves. As the tourist put it to me, “the hospitality, the warmth, the ability to have a good time, to put themselves out for us”.

I wish all the skeptics could have heard this conversation, including those who say that Bulgarians have learnt nothing about the service ethic.

Listening to her, I responded that the night before our conversation, I had seen BNT’s programme Dalekogled, which had featured an Irish expatriate saying that he had felt very much at home in the past four years here because, he believed, the Irish and Bulgarians had very much in common, at the level of the soul and in approach to life.

She agreed, and said she believed that was one of the reasons her husband had come back so often.

When I met him, I said to her husband that I was very glad to meet a “return tourist” because of concerns that people would come to the country only once, tick it off their list – or go home with bad word of mouth because of “construction tourism” or bad service – and never come back.

He laughed, his face red with the exertion of the slopes, and said he hoped to come back many, many times.

His wife did not feel in the least deprived by her continuing inadequacy at learning to ski.
“The apres-ski is the best thing, after all, isn’t it?”

The attractions of Pamporovo’s bars and restaurants were, it seems, one of the reasons that she and some of the other tourists removed themselves from the slopes at one stage or another. “Bulgarian wine is very good, but it goes down rather too easily. So I’m feeling a bit pale today. Still, I wish it were easier to get it in Ireland. The stuff they export really isn’t the best”.

I smiled when she asked me whether or not the country was in the European Union. Living every day with coverage of the issue of whether or not Bulgaria will deal adequately with major issues like judiciary reform and thus meet its January 2007 appointment, I found it refreshing to meet someone to whom it was not a real issue, and who had half an impression that Bulgaria already had achieved this Holy Grail of European respectability.

All around me foreign tourists, including one Western diplomat and his wife who were happily incognito, were having a good time, and it is correct to record my own impressions, those of someone who is now in his fourth year of living in Bulgaria. In a word: good. Rental of ski equipment, and the lessons, were not cheap but nor were they exorbitant. Service everywhere was decent. With the exception of New Year’s Day, machines cleaned the roads to keep them safe. There was much more signage in English (and in better English) than during my first visit four years ago.

And if I sound in a good mood, it is not that the people of Pamporovo slipped me a few leva to write something nice about them. It is because, with the very patient teaching and encouragement of a young lady called Biserka, and with a tumble or four, and a few stops to catch my breath, on New Year’s Day, I somehow made it down the green slope of Snezhanka. For a middle-aged African, that’s not bad, don’t you think? It’s enough to make me want to go back.

Greek border open

18th January, 2010

Bulgarian and Greek officials met on January 16 2010 to assess the situation as negotiations proceeded about planned border blockade protests by Greek farmers.

All Bulgarian – Greek border checkpoints, including the newly opened Zlatograd-Xanthi checkpoint, were operating normally on January 16, media reports said, after the previous day the Ilinden – Eksohi checkpoint was blockaded for 90 minutes.

People should avoid travelling to Greece, Bulgarian news agency Focus quoted deputy regional governor of Blagoevgrad Georgi Bahanov as saying after the meeting at Kulata border checkpoint with his counterpart deputy regional governor of Serres, Tomas Syambris, and a representative of the police Nikolas Rizos.

The Greek side offered an alternative route for drivers through Zlatarevo border checkpoint, Valandovo and Gevgeli.

Farmers have said that they would continue the protest for a further five days from January 18, but this depends on the outcome of negotiations. The farmers want to be paid 2009 subsidies that are in arrears, and have indicated that the strike could become indefinite until this happens.

Bulgaria said that bodies including the border police, Bulgarian Red Cross, emergency services and local authorities had been briefed on steps to take in the event of a sustained blockade and were co-ordinating their actions.

Bulgarian National Television (BNT) said that the January 16 meeting between the deputy governors of Blagoevgrad and Serres was held to discuss how to deal with traffic flow in the event of a further blockade.

Bulgaria was requesting clear rules on how traffic flow would work, not only for light vehicles but also for TIR lorries, BNT said.

Greek daily Kathimerini said that wider protests could follow in the days ahead as farmers stepped up their demands.

On January 15, about 120 tractors were used to close the national road near the Strymonas bridge in northern Greece. Motorists had to use a diversion which took them onto the old Thessaloniki-Kavala highway via Asprovalta. The same day, farmers from Kastoria also set up intermittent blocks on the road leading to the Albanian border.

Kathimerini said that more farmers from Serres were expected to descend on the Promachonas crossing on the border with Bulgaria from January 18.

On January 16, before the meeting between the Blagoevgrad and Serres officials started, Focus quoted Todor Georgiev, head of the regional customs office in Smolyan, as saying that Bulgarian motorists should check the situation before travelling to Greece.

This could be done at the Interior Ministry website, and people should check news websites as well, Georgiev said.

Bulgarian citizens travelling to Turkey were advised to use the Lesovo and Malko Tarnovo border checkpoints.

The alternatives to the Kapitan Andreevo – Kalotina border checkpoints are the crossings along the Bulgarian-Serbian border: Vrashka Chuka, Bregovo, Stezimirovtsi and Oltomantsi or to Romania via the Danube Bridge and to Macedonia via Gyueshevo crossing, Focus said.

News Pamporovo

20th October, 2009

We have received good news with reference to this resort which is very good news for tourists this winter.

  1. We will see reduced prices for ski passes and ski school.
  2. The sloped have been better prepared for the ski season.
  3. 118 snow cannons have been installed and commissioned, these snow cannons are York and of a very high standard. The snow canons will work at zero degrees or lower.
  4. 5 grooming kits have been purchased, 1 new and 4 fully reconditioned, these machines will distribute the snow throughout the resort.
  5. 50 new guns to shoot the snow have been purchased they are located on the mid station red run number 5 and red run number 2.
  6. There are two new ski runs from Snejanka to Studenets and they are both intermediate runs.
  7. A new kinder garden for children aged 4 plus with new facilities will be opened in the resort.

Bulgaria’s real estate construction sector marks 24.1 per cent growth in Q3

19th October, 2009

The amount of newly constructed real estate apartment blocks across Bulgaria increased by +24.1% in the third quarter of 2009, according to the National Statistics Institute (NSI) data.

The statistics show that, on an annual basis the growth of buildings completed accounts for 6.9%, while the increase of new apartments has grown by +30.2%. For the period May to July 2009, 679 properties were erected with 5,888 flats in total. For that period alone, there is a +51.1% increase in new apartments nationwide.

Varna led the way with 157 new buildings constructed, with a total of 1,204 new units, followed by Bourgas who had 134 buildings recently constructed making a total of 1,665 new units and Sofia with 35 new buildings recently constructed as well as 549 new apartments. The report indicated that there was no new construction in the towns of Razgrad, Montana and Haskovo in the same period.

The figures indicate that the total new marketable area consists of more than 411,000sqm of apartment space, or a +15.9% increase compared to the corresponding period for 2008. However, according to the report, on average, flats are becoming smaller. In the second quarter of 2009, the average living area in new construction amounted to 75.5sqm, which in the third quarter decreased to 69.9sqm.

Bulgarian Mortgage Loans: Useful Tools For Buying A Home in Bulgaria

1st October, 2009

Mortgagefit:Worlds Largest Mortgage Community

If you’re intending to buy a home in Bulgaria, you can go for a Bulgarian mortgage loan. However, you should assess your financial capacity before starting off. How much house can I afford is a familiar query that comes up in the mind of every home buyer. Use a home affordability calculator to find this out. The Bulgarian property sector is showing signs of gradual development.

Try to get a comprehensive idea about your repayment capacity prior to going for a mortgage loan in Bulgaria. This is important irrespective of the fact whether you’re a first time homebuyer or refinancing your existing mortgage. Various online mortgage calculators are available that can help you decide how much mortgage you should borrow and which loan term is most convenient for you.

For purchasing a home in Bulgaria, there are some important types of calculators that you can use such as maximum borrowing calculator, stamp duty calculator, loan to value (LTV) calculator and deposit calculator.

There are a number of mortgage lenders in Bulgaria that offer an all-inclusive range of loan products for people who are keen to buy a home in Bulgaria. Presently, the terms and conditions of mortgage lending in Bulgaria have been made somewhat stringent. For this reason, you might face some difficulties while shopping around for a mortgage loan in Bulgaria.

You have to furnish details of your income when you’re going to apply for a mortgage in Bulgaria. The amount of your income should be double of what it was one year ago. For instance, if your income was 2,000 Euros last year, it must be 4,000 Euros now. This permits you to request for a mortgage.

Forecasts are being made that the number of borrowers searching for mortgages in Bulgaria would be growing in late 2009. The reason behind this is the slump in house prices would be pulling more and more consumers to get mortgage loans.

Mortgage interest rates fall

28th September, 2009

Bulgaria has seen interest rates for mortgages fall from an amazing 16% per annum down to 7.5% we are hopeful that the interest will fall to be inline with other EU countries.

The potential is great but more and more companies are starting to realize it

23rd September, 2009

EUR 200 M Renewable Energy Project to Start in Northern Bulgaria

wind turbines

The Japanese Mitsubishi Corporation and the Bulgarian Dei Energy will build an EUR 200 M ecological energy park near the Northern Bulgarian city of Pleven. Photo by BGNES
The Japanese Mitsubishi Corporation and the Bulgarian Dei Energy will build an EUR 200 M ecological energy park near the Northern Bulgarian city of Pleven, the Pari Daily reported.

The park will be built on 1,800 dekares of abandoned land in the Gulyantsi Municipality, in the Pleven Region. There project will include both wind mills and photovoltaic panels with a total capacity of 160 MW. The construction is scheduled to begin in 2010, while the completion is planned for 2012. Many local contractors will be involved.

“Our research in the region shows that the wind mills will be able to operate nearly 2 000 hours a year, and the investment amount will be recovered in 8-10 years”, the Dei Energy CEO, Ivan Tihov, explained. The photovoltaic panels will be located on the Danube river’s shore, producing energy of 1,200-1,300 hours a year, he added.

Dei Energy has had similar projects near Bulgaria’s Sliven. The company will start another wind park there in the next few days. Its power will be 150 MW.

“We plan to build several renewable energy parks around Bulgaria with total a power of 500-600 MW”, Tihov said.

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