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21-August-2008
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Interview with James Gonzalez
Alpine Lodge: The Project
Alpine Lodge consists of 123 apartments fully furnished to four-star international standards, along with extensive on-site leisure facilities including a gymnasium, pool, Jacuzzi, spa centre with sauna and Turkish bath, restaurant and wine bar and retail shops. The resort has a reception area, 24 hour CCTV security, car parking, wireless Internet and cable TV, as well as sun 
terraces and outdoor picnic areas.
The four-star complex is located directly next to Bansko's top ski resort and a five-minute shuttle bus ride away from the Ian Woosnam-designed championship golf course; the proximity to both ensures year-round leisure attractions for both tenants and owners.
A management company plans to manage the complex as a four-star apart-hotel, with all of the facilities at the disposal of the apartment owners and tenants, including the reception area and a cleaning service. The company will negotiate future leasing contracts with world-renowned tour operators, who will market the complex as a four-star international golf and ski holiday resort for their clients. This management service increases the potential for lucrative rental yields.
Obelisk has used three price categories to illustrate an average for the three different types of apartments in Alpine Lodge: studio, one-bedroom apartment and two-bedroom apartment.
Investment Potential
Since Bulgaria's accession into the EU at the beginning of 2007, it has been establishing its reputation as a leading real estate investment market. It is a widely held belief that the country is only at the beginning of its potential and this is creating a tangible excitement about the investment opportunities that Bulgaria holds.
Bansko is in South-Western Bulgaria, located only 2 hours from the capital, Sofia , and has become a thriving centre of winter and summer tourism; the year round tourist market makes for consistent and healthy rental yields. Bansko has the best snow record and the longest ski season of all the Bulgarian resorts. Two golf courses are being built within 5km of Bansko, and over the last 5 years over €200 million has been invested in the town of Bansko itself.
Talks have been held regarding the planned airport in Bansko between Alexander Kravarov(Mayor of Bansko) and the US Trade and Development Agency (USTDA), who have pledged 300,000 leva to enable pre-project research and economic analysis to take place. The airport is to have the capability to service Boeing 737 and Airbus aircraft and is intended to service Bansko throughout the year as it is now becoming a 12 month season resort. This will no doubt support the ever increasing tourist industry and tourist numbers in this area of the country.
The investment potential of the project, Alpine Lodge, is excellent; with 123 fully furnished apartments and extensive leisure facilities, the complex offers investors the opportunity for a high level of return from both capital appreciation and rental income. Average annual property price growth in the area was 29.4% between 2004 and 2006.
In order to maximise the rental income potential with the minimum of effort, a management company will manage the complex as a four-star apart-hotel, with all the facilities at the disposal of the apartment owners and tenants. They will manage the community and propose a property rental management pack to all owners of Alpine Lodge.
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