Everyone seems to have heard about the low-priced ski apartments and cheap coastal villas for holidays in Bulgaria. But the country is far less well known as a place fo
r those who want to get away from the rat race, congested roads, shocking youths and start a brand new life overseas.
Veliko Turnovo doesn’t have the good fortune of Varna with the sea on its doorstep; nor does it have the winter attractions of Bansko full of ski pistes. But it does have something else, a unique unhurried country-style ambience, charming villages and ancient history combined with a young feel and good living!
This beautiful historic town, once the Bulgarian capital, has dug deep on its particular features to create a special and thriving market place. Using history and culture it has generated a growth of tourism amongst those more affluent tourists searching for a quiet holiday ... and a fast moving property market for those buyers seeking a quality lifestyle.
Bulgaria has been slated for overdevelopment - but not this area, where space and rural charm remain.
Many have been quick to condemn Bulgaria for promoting a cheap ‘sun, sea, sex destination’ with a much over-hyped property market. However, given the success that Veliko Turnovo has made in the rural and cultural tourism market and the authorities’ determination to do all they can to maintain and develop this further, it would indicate that the property market in this area is sustainable for the long term. 
Buyers now have the possibility to tap into these potential tourist returns yet still buy a property at incredibly affordable prices in an area with amazingly natural surroundings and views as far as the eye can see.
One of the most important factors of this area is the type of international tourist the area is drawing in. Generally those who are more independent, rather than package holiday oriented, interested in cultural activities and experiencing the ‘real’ country - and, most of all, affluent. This is starting to bring with it a similar type of purchaser, in particular those who are retirees looking for a holiday home or quality permanent home in an idyllic rural area.
For the strict investor the possibilities are numerous. Not only for a holiday home which can be let to upmarket tourists, but on the other hand, for small apartments in the town of Veliko Turnovo where these properties can be let out to the tens of thousands of students who descend on the town every year.
Property prices on the up
Property prices in the region are starting to shoot up and our feeling would be - if you’re looking to buy in Bulgaria, then put this area on your list now.
Veliko Turnovo village hotspots
The most popular villages and the most sought-after are Kapinovo, Mindia, Pschelishte, Ressen and Hotnitsa. There’s also a small group of villages, which includes Gostilitsa and Kereka just to the west, which attract much interest from buyers as they have a fantastic location with south facing views over Stara Planina mountain range.
Typically buyers are paying some 14,000 pounds for a property and then spending the same again having them done up. These are averages and it does vary from village to village - you can still pick up a property for 5,000 pounds!
Prices in the villages are very much lower than comparable properties on the coast or ski resorts, but they are already a little higher than still-undiscovered parts of Bulgaria. The closer you are to Veliko Turnovo, the more you can expect to pay. Although if you want to buy in a special village such as Elena or Tryavna, despite their distance to the city, you’ll pay pretty much what you would in VT itself.
Veliko Turnovo district development plan
The mayor of Veliko Turnovo spoke recently at the National Association of Spa and Wellness Tourism Event. He re-affirmed his town’s commitment to developing and promoting his area for sport, culture and heritage tourism, saying that the town’s actions had already resulted in tourism numbers increasing by over 20% this year.
The district is working for sustainable and balanced development of the region with its aim to become slowly but surely a region with favourable conditions for investments, business and infrastructure. It will further develop effective forms of attracting additional international tourism plus local and foreign investment to result in an improvement of the quality of living of the district inhabitants.
The local authorities have outlined their district development plan:
Vision: ‘Veliko Turnovo district - a European region with a leading role as an industrial, transport-logistical, tourist, cultural and educational centre; attractive to investors, people and holidaymakers; achieving stable and balanced territorial development; and ensuring a secure, clean and harmonic environment with good living standards’.
Veliko Turnovo District Administration has created a strategy for the development of the region to run up to 2015. This strategy corresponds with the principles of planning laid down in the EU regional policy and socio-economic policies. The overall goal, formulated in the Strategy for Regional Development states that the achievement of economic growth and improvement of quality of life and balanced development of the district is to be brought about through these main priorities:
- Economic dynamism and regional competitiveness
- Infrastructure and environment
- Quality of life
- Territorial cohesion
- Sustainable alternative tourism
- Institutional environment
Article and Photographs copyright Quest Bulgaria Magazine