 Poster: A snowHead
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Hi everyone
I am new to this site,the reason for logging on is to see what peoples opinion is on Skiing in Bansko.
Im thinking of investing there,and would like some idea on what others think on the destination and skiing.
Have any of you been?
What do you think?
Thanks guys.........happy skiing 
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Before you make an investment, make sure you visit the forum on this website below
http://www.talkbansko.com/
My wife being Bulgarian, we considered investing in Bansko too after reading all the positive press a few years ago. All I can say is keep your eyes wide open. The place is a largely unregulated building site full of some very dodgy developers and get rich quick merchants. Do your own research and don't believe the developers hype about price rises and rental incomes. They are often very unrealistic. Personally I wouldn't touch it with a bargepole.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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Some people rave about it, some people hate it (goes for Bansko and Bulgaria in general). Examine your circumstances and dont believe the sales pitch without thorough research of your own. There has been massive investment in and development of Bansko over the last couple of years and the market is oversupplied to a large extent. No problem if you want to want to be in that area and dont need to rent your property out to fund its purchase but can be a nightmare scenario otherwise. For the same reasons any promised short term gains are unlikely to materialise either. I think the best approach is to get as many facts as you can (there are plenty of web sites where you can contact owners) and go and see the place yourself before making your mind up. 
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You need to Login to know who's really who.
You need to Login to know who's really who.
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banskooksnab,
Welcome to snowheads.
Question for you are you a novice or experienced skier?
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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banskooksnab, Welcome to  's. If you have the funds to purchase outright and do not need to rent go for it. I believe it is a beautiful place and skiing is good. My experience is that a friend of mine bought a couple of years ago, he has not been able to rent many weeks and there is no capital appreciation. He has been trying to sell but alas no joy. There are a lot of apartments there and the local market cant afford them. As you know in most communities there are a couple of prices. a) Local Market. b) Foreign Market c) The Paddy's. Prices may already be inflated if you are not local. So you are limeted to the likes of the SH community and the like for resale!
There are a few people on this site that have direct experience with the property market in Bansko. They will be best to advise. Like everywhere else in this world you pay for what you get! Good skiing - yes, Scenery - yes, becoming a property mogul and capital appreciation - possibly not.
There have been a number of threads on this site re Bansko, read carefully and make up your own mind.
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You'll need to Register first of course.
You'll need to Register first of course.
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I heard Bankso is going to be the next Val d'Isere.
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You know those guys outside the Gare d'Nord with the pea, three cups and a fold away table, well "investing" with them would be a far more astute move than buying a apartment in Bulgaria and in particular Bankso. There is a serious issue with oversupply in the area already and hundreds of apartmenst lie not just idle but also unfurnished as small time investors in ireland and britain await for the not yet seen capital appreciation.
Best value ski property when all is taken into account is Austria by a long mile. Then the Spainish pyrennes, followed by Italy and the Poland. Emerging markets that offer some hope - look at Montengro, Bosnia and Turkey.
Last edited by Then you can post your own questions or snow reports... on Tue 6-11-07 11:25; edited 1 time in total
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Japan, especially the Niseko area of Hokkaido, offers more than the 'new Europe'.
Please take a look at the company I'm currently working for while waiting for the snow to accumulate and the lifts to start turning
www.nisekoproperty.com
The resort
http://www.grand-hirafu.jp/en/index.html
I came out last winter to instruct, stayed on full time and will be instructing again this winter.
I can choose where I spend my winters, and this is where I've chosen. Got everything I need. Plenty of work, great people & food, and most importantly the most and best snow I've skied.
And I've spent winters in BC, Montana, Colorado, Utah, Austria & Italy.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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Mike Pow, Even harder to get to than BC or the US Rockies!!!! banskooksnab, That is another reason to look closer to home.
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Definitely Roy.
And definitely worth the extra hours of travelling.
And this part of Japan has four distinct seasons, all of which are tremendous.
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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When you invest in property in a ski resort you will have to work out what you want from the property. Most of us want to be able to go skiing a few times during the year, so ease of access is very important. If it is just a hard nosed business plan and you are looking for pure RoI. If you are right about the low cost of property in Japan then just getting capital appreciation will do it all for you.
You seem to think that it is feasable for people that may have the means to invest have the time to take that flight 3 or 4 times a year. I accept that if you are spending a season away the journey is no more than going to the states. For most it is not, if I took the year off I may not be in the position to indulge in the foreign property market. Maybe one day, let me dream!!!
Looked at the website would help the international market if prices were put in $' s or €s
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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I bought around 3 years ago and am happy with my choice. Sometimes I holiday there summer + winter, other times I go somewhere else.
Prices have risen since then but some cheap deals are still available - especially if you want a resale apartment as some owners have bottled it and are desperate to sell.
Rental yield if fairly low and don't believe what the agents tell you - do lots of research (and visit the town both in summer and winter).
The old village is really nice with loads of cheap places to eat and drink - some people like it others don't (usually people who have not been there themselves but like to voice their opinion anyway.....)
As for the skiing - the marked pistes are fairly limited with 65-ish kms but it is slowly expanding and a neighbouring village that currently has a very small ski area is set for a major expansion next summer. Loads of off piste in the trees and off the back of the main ski area. Endless ski touring opportunities as the lifts are all on one mountain.
Whatever you do make sure you do lots of research and assume the worst as far as rental is concerned - if you need the rental money to pay bills etc then forget it.
Long term it should be good
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We ended up buying an apartment out in BC Canada. It's a very strictly regulated property market, building standards are excellent, prices reasonable and of course most importantly, great snow and skiing 
Only small downside is getting there, but it's well worth the journey if you go for 2 weeks. Just an excuse for longer ski trips.
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You know it makes sense.
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| Roy Hockley wrote: |
When you invest in property in a ski resort you will have to work out what you want from the property. Most of us want to be able to go skiing a few times during the year, so ease of access is very important. If it is just a hard nosed business plan and you are looking for pure RoI. If you are right about the low cost of property in Japan then just getting capital appreciation will do it all for you.
You seem to think that it is feasable for people that may have the means to invest have the time to take that flight 3 or 4 times a year. I accept that if you are spending a season away the journey is no more than going to the states. For most it is not, if I took the year off I may not be in the position to indulge in the foreign property market. Maybe one day, let me dream!!!
Looked at the website would help the international market if prices were put in $' s or €s |
Don't disagree with your thoughts there Roy.
Comparing European buyers who want to access the property more than once over the winter and long-haul owners who tend to go once during the winter but for 2-3 weeks is like comparing apples and oranges.
The Niseko area of Hokkaido is approx. a 16 hour journey from London (12hr flight to Tokyo, 2 hr flight from Tokyo to Sapporo, 2 hr transfer from Sapporo to Niseko).
Western Canada is between 10-12 hrs from London.
Don't think that 4-6 hrs extra travel over a two week period is that unreasonable.
And thanks for the feedback on pricing. Will provide conversions soon.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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Poster: A snowHead
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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banskooksnab, I agree with uktrailmonster above. Renting your property in Bansko can be very tricky.. supply WAY exceeds demand at the minute. The skiing is good but if Bansko had full occupancy in all of its apartments the queues at the lifts stations would be unbearable.
A group of us chucked in some cash and took a flutter on it a couple of years ago. Got a studio beside the Gondola station and across from the Kempinski hotel. Last season it was only rented for 10days... but this more than covered the costs for the ENTIRE year (Tax, insurance, utilities, property management, new leather sofas etc).
So yep rental is hard but you don`t need to rent the apartment out for too long to cover your costs. Like any investment only put in what you are willing to potentially lose.
Capital value has theoretically increased since we purchased but at this point in time we would not consider wasting our time trying to sell. It is a long term investment.. property over the mid to long term will mostly always give you a good return... ha ha I say mostly. If not cie la vie ... you have to speculate to accumulate.
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You need to Login to know who's really who.
You need to Login to know who's really who.
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| hyweljenkins wrote: |
| I heard Bankso is going to be the next Val d'Isere. |
I am not sure that quote is serious, and if it is then I strongly disagree Bankso will never offer ski potential of Espace Killy i.el. Val D'Isere and Tignes. It also doesn't have the summer use potential as an area which regularly gets visited by the Tour de France and has huge MTB, Kayaking, Golf and biking summer potential.
I would though not recommend an investment in Bankso rather goign for something that you would be happy to live and use if the investment doesn't work out.
We were looking at Revelstoke in BC as they are pumping money at this project and regardless it is a stunning part of Bristish Colombia with some immense off piste ski potential. I also like the potential of Japan as Mike Pow points out. This area supposedly has un - frigging - believable powder. On top of this I would much prefer if I was to take a huge gamble, for which I see Bulgaria as, to invest in a potential Russian ski resort.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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plectrum, of course it isn't. There was a Bansko Spammer here last season who claimed it. IIRC, we mocked.
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You'll need to Register first of course.
You'll need to Register first of course.
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| plectrum wrote: |
We were looking at Revelstoke in BC as they are pumping money at this project and regardless it is a stunning part of Bristish Colombia with some immense off piste ski potential. |
Now we're talking. We've got our eye on that place too. Already got an apartment in Big White just down the road. But I consider these more lifestyle than financial investments. If they make some capital long term, that will be a nice bonus. Short term, they cost money rather than earn it!
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FAQ
. If a 'local' wouldn't buy there ... then avoid like the plague . He understands the 'market' ...listen and learn !
