Some choose to spend their money differently: buy property in a country they already like and ignore the pricing policies of tour operators and hotel owners. The most attractive real estate prices are in yet unpromoted winter destinations: Bulgaria, Slovenia, and already familiar Slovakia. In the tropics, the main objects of close scrutiny could be Thailand and the pearl of India - Goa.
Winter is good in Bulgaria
Ski tourism, like all tourism in Bulgaria, has finally begun to receive proper attention. Most mountain resorts in this country have already purchased snowmaking equipment and even tested it. This allows extending the winter tourist season by more than two months. The ski season in Bulgaria lasts from December to April, with the average January temperature (the coldest month) being minus 4.4 degrees Celsius. Rental of necessary equipment is provided, and numerous instructors at ski schools will teach all interested (and children) this sport.
The popularity of Bulgarian resorts among us is due primarily to a fairly decent price-quality ratio. After all, service here is based on natural hospitality, traditionally good relations between our peoples, and almost no language barrier.
At Bulgarian ski resorts, the most famous of which are Bansko, Pamporovo, and Borovets, new apartments and houses are sold at prices from €800 to €2,000 per square meter. Apartment complexes or cottage villages are built with turnkey finishing and are usually sold during the construction phase. When signing a purchase agreement, installment payment is possible until the end of construction. The infrastructure of the complexes often includes a pool, gym, sauna, parking, and storage rooms for sports equipment are mandatory. Maintenance and security are year-round. The maintenance cost is known in advance (the maintenance contract is signed simultaneously with the purchase agreement) and ranges from €5 to €15 per square meter. Commercial real estate and land plots are sold at ski resorts, which are popular among foreign investors.
Winter evening in the Tatras
Many experts acknowledge that Slovakia has created the best conditions in Eastern Europe for skiing. At the same time, prices there are quite moderate.
Slovakia's ski resorts are located in two main mountain ranges - the Low Tatras and the High Tatras. The High Tatras are the oldest skiing area: the first hotels for skiers appeared here at the end of the century before last, when the nobility of aristocratic Slovakia became universally passionate about this sport. And today those ski hotels delight tourists with their architecture. Moreover, Slovakia is located in the center of Europe, meaning it is close to Budapest, Vienna, Prague, and other Central European cities. This also adds to its attractiveness both from a tourism perspective and for real estate purchases.
There are about a dozen ski resorts in Slovakia. The most famous and popular is Jasna (Low Tatras). Until recently, buying apartments in the Tatras was unrealistic. Land for construction here sells from €25 per square meter, commercial real estate (mini-hotels) from €200,000. The price of private houses varies depending on condition, size, and location (from €25,000 to €150,000). Recently, foreign investors have begun to appear, investing in the construction of chalets with 8-10 apartments. The price per square meter is from €700 to €1,500.
In the foothills of Triglav
For some reason, Slovenia remains a blank spot on the map of high-class resorts for many skiers. And unjustly so. Slovenia was considered the most prosperous and developed part of the former Yugoslavia. It was largely spared the disasters of the Balkan war, and it gained independence quickly and almost bloodlessly. The people of Slovenia are very friendly and love to have fun, and their language is quite understandable to us.
Majestic peaks covered with snow year-round, Mount Triglav - the national symbol of Slovenia, located in the Triglav National Park, picturesque valleys, crystal clear lakes, turbulent rivers, waterfalls, caves - a paradise for climbers, skiers, and rafting enthusiasts. Although the Alps need no introduction, a holiday in the Slovenian Alps has an important feature that favorably distinguishes it from holidays in the French, Swiss, or Austrian Alps - the relative cheapness of the resorts.
Slovenian ski resorts, located on the picturesque slopes of the Julian Alps, are very similar to resorts in Austria and Italy. The most fashionable is considered Kranjska Gora. But Bovec, Bohinj, Pohorje, Rogla, and Bled also boast developed infrastructure, scenic surroundings, and long, well-groomed trails. No matter how hard you try, it is very difficult to see remnants of the socialist past in Slovenia. The influence of Italy and Austria is much more noticeable.
There are not many real estate offerings at Slovenian ski resorts. However, if you wish, you can find both private houses and apartments. The cost of the latter ranges from €60,000 to €150,000. Houses for €60,000-80,000 may require renovation. The most common price offers are from €150,000 to €300,000.
Catching up with Portugal per investor
Goa is a former Portuguese colony on the Indian coast of the Arabian Sea, known for its abundance of historical monuments of various peoples and cultures, picturesque tropical landscapes, and of course, Ayurveda schools. As a result of the liberalization of Indian legislation, the real estate market in Goa has been developing rapidly, mainly due to foreign investment, but prices in this Indian state are incredibly low compared to other tropical resorts.
It should be remembered that Goa is a world-famous resort, and prices for any housing, even at a considerable distance from the sea, have growth potential. In addition, large foreign institutional investors have begun to return, who in the 1990s during the Gulf War withdrew their capital due to the state's proximity to the troubled region.
The elite segment of housing in Goa is represented by private construction projects - cottages, villas, family-type boarding houses. The apartment market has not yet formed. Among residential complexes, only Peace Valley can be noted - a residential boarding house on the seashore. The average cost per square meter for apartments in this complex is $600. The average price for housing in a cottage complex is about $1,000 per square meter.
The most affordable segment of luxury real estate is historical private construction buildings, known as 'Portuguese houses'. They are located on large (several hectares) plots of land, many have their own parks. However, they require serious reconstruction, often the installation of utilities. A significant part of them is located on the seafront near the beaches. Such houses can be bought within $200-300 thousand. The cost of redevelopment and repair is approximately $120-150 per square meter.
New villas are naturally more expensive, especially with furniture and interior decoration. Near Panaji, villas without finishing, with utilities connected, near the beach cost about $400 per square meter. Approximately the same price for them in South Goa. In North Goa, $400 per square meter buys a villa with finishing. The cost of a villa that already has finishing, furniture, built-in appliances, equipment and plumbing, in North Goa is $700-800 per square meter. In South Goa, the same villa will cost $950-1,000 per square meter.
Between Phuket and Samui
The Thai province of Phuket is currently experiencing an investment boom. There has been no decline in real estate prices and demand (as many predicted) after the infamous tsunami.
"Phuket is among the ten most beautiful places on the globe for beach holidays along with the Maldives, Seychelles, and Canary Islands. Tourism is one of the main sources of income for the Kingdom of Thailand, and the province of Phuket has been designated by the Thai government as a priority development zone. The largest network companies have already placed their five-star hotels here, exclusive yacht clubs are being built, infrastructure is actively developing - roads, shopping centers," says Alexey Yurash, General Director of Compass Asia Property.
Many Europeans choose Thailand (and most often Phuket) as a place of permanent residence. Thailand has many paradisiacal corners and islands. One of them - Samui - is considered the most remote from civilization. Nevertheless, it has a good reputation: the natural disaster did not affect this island, and its name is not associated with danger. Specialists at Thai Property believe that in the future Samui will become very attractive for those wishing to settle for a long time under the Thai sun.
In the city of Bophut (Samui), which is considered expensive compared to other points on the island, the price of a two-bedroom bungalow ranges from $86 to $261 thousand. The cost depends mainly on the distance of the property from the sea, according to the principle: 'the further, the cheaper'. A two-story house can be purchased for either $141.7 thousand or $261.1 thousand. A penthouse will cost from $43 thousand. And a one-story house with two bedrooms three minutes from the beach will cost $129.5 thousand.
The most popular product in Thailand (Samui is no exception) is a villa. They are either bought ready-made (which is significantly faster) or you choose a project you like and build it. On the island you can also buy just a piece of land and then eventually build a house.
Compared to last year, prices have increased by 15-20%. This is due both to the global increase in real estate prices and to the popularization of Thailand among consumers.