Bulgarian leisure properties have their bags packed

When we hear news of investment property in Bulgaria, we may tend to think of office apartment or housing complex projects, but the opportunity to get a foothold in the leisure and tourism industries exists, with popular hotels coming up for auction.

A recent public auction of Varna’s Astoria hotel has been announced, as the current owners struggle to service their mortgage loan.

However, the Astoria is not a lone case as other Hotels & leisure complexes across the Black Sea region are facing similar fates, and prices have been subject to the same falls in value as the rest of the real estate in Bulgaria.

Property for sale in Sunny Beach, Varna and other popular locations range from 250 000 euros to over 1 million in price, and the locations extend to the towns and smaller villages surrounding the main resorts.

With tourism to the country set to rise in the next couple of years, investment now could be a prudent move.