Affluent Serbians Buying Properties in Bansko

Wealthy Serbians are showing interest not just in condominiums in Bansko, but in Razlog as well. They are so active in the property markets that they have already taken the top spots from the Russians, who were strongly affected by the Ukrainian crisis and rise of the dollar in relation to the ruble.

According to data by the real estate agencies, more than 30 buying/selling transactions have taken place over the past month. Properties of around 70 m² are most sought after, which the affluent Serbians are willing to pay about 40 000 - 50 000 euros for.

Undersized two-bedroom condos of about 40-50 m² are being offered for between 30 000 - 35 000 euros, depending on the proximity to the base ski lift station.

The majority of property sellers in Bansko are either English or Irish, who bought properties in the town a few years ago, during the construction boom in the ski resort.

At the time, the foreigners paid between 1000 - 1500 euros per square meter, while presently, a square meter costs 300 - 500 euros.