29.08.2007

Anton Pankev is Executive Director of Asta Bridge International Properties, an agent specialized in sales of holiday properties to foreigners, and a part of the Bulgaria’s largest real estate services group, AG Capital (until recently known as Address Group). He joined Address Group eight years ago working on positions dealing with foreign and VIP clients and exclusive projects sales.

Mr. Pankev, what is the volume of residential supply in complexes with SPA centers outside the big coastal and winter resorts and what is their share in the second homes market?

- Talking about complexes under construction in preserved natural environment offering SPA and balneologic tourism like Banya, Hisarya, Velingrad, Sandanski, etc. currently they are hardly about 10% of total supply. But the segment is gaining more popularity among investors from the point of view of the extended opportunities it offers, and the goal to offer buyers better specifications with new projects that have to meet an increasingly critical approach from private investors. Spa resorts and regions with mineral springs are yet to develop. They are still an underdeveloped sector that can offer a good risk to return ratio, and to redirect investors from some overbuilt areas and keen competition.

Is there demand exactly for property linked to spa services? Is Bulgaria popular with the British buyers with the opportunities it offers in this segment?

- The main and biggest share of clients buying second home in such centers are Russians, attracted by high quality services, nature, and on the whole the unique product offered as such property.

How do spa services are combine with more traditional forms like mountain and sea tourism?

- Opportunities offered by a holiday complex with a spa center directly depend on opportunities for traditional forms of tourism. With the availability of new product such as spa tourism and its limited supply this dependence is more obvious. What is more, SPA resorts are developed at no more than 100-150 km away from big cities, near ski resorts - for instance the village of Banya near Bansko - near sea or golf resorts under construction. The is different types of services depend directly one on another as the very existence of spa centers is a result of diversification of tourist services, and of the elaboration of the opportunities on the second home market in the country. Bulgaria has the exceptional opportunity to become an island of wellness tourism on the Balkans. Given the existence of developed ski and coastal resorts this might rate the country among the first preferred destination on a global scale.

Does the spa center add value to a holiday complex?

- When a product like real estate has some unusual and unique qualities they add value. There is a difference of 20-40% in prices in comparison to complexes without spa services depending on their quality, position, and location.

source: www.indeximoti.bg