Ski Complex Raises the Prices of Agricultural Land

SKI COMPLEX RAISES THE PRICES OF AGRICULTURAL LAND

Anna Georgieva

The agricultural lands in Sapareva Banya, southern Bulgaria, are being bought out as pan cakes due to a project for a new ski complex in Panichishte resort, southern Bulgaria, real estate brokers informed. This spring, Sapareva Banya municipality released the information that it was launching the construction of a modern base for winter sports in the resort. Over 100 ha of agricultural land have already been bought. The prices reached up to 100 levs (1euro=1.95levs) per square meter. The most expensive and most demanded are the terrains between Sapareva Banya and Panichishte in the area of the geyser. All plots of land are sold even 2 days after their appearance on the real estate market, brokers added. But the local fellows desist from selling for they hope that the prices will go up even higher in the next year, when the construction works of the ski complex will be started.
Mainly Bulgarian construction entrepreneurs who want to develop their business buy land around Panichishte. Some 20 wealthy people have already received the necessary documents for construction of hotels and supermarkets.

BANSKO