Bulgarian Property Market InsightWritten by Steve Avery
GOLF GRABS BULGARIA!At present time there are only three golf courses in whole of Bulgaria: one at Elin Pelin, near capital, Sofia, and two owned by Air Sofia. These are located at Ihtiman, opened in 2000, 40km from Sofia, and at Sliven, opened in 2004, 90km from Black Sea. Because of increasingly rapid rise in foreign interest in Bulgaria recently, several more golf courses are proposed. One of these will be located at Razgrad, in north-east, about 90km from Black Sea. More are scheduled to open in next few years: two at Kavarna and one at Primorsko, near Sozopol. Mountain and ski areas will be represented by a golf course in ski town of Bansko this year, and a very large golf complex between Kostenets and Borovets, country's foremost ski resort. This is scheduled for 2007, year of Bulgaria's entry into European Union, and will be located at Dolna Banya, already near Bulgaria's first golf course at Ihtiman. BulgariaProperties.net Ltd has purchased almost 6 acres of prime development land adjacent to proposed golf course at Dolna Banya. The plans are to construct about 220 apartments around a comprehensive sports complex, with access to golf course by a short footpath. The amenities on site are to include tennis, volleyball, squash, badminton, lawn bowls, boules (boccia), shooting, archery, croquet, mountain biking, and fishing nearby. Indoor facilities will include a 140-seat main restaurant and cabaret stage, a huge main bar (perhaps largest in Bulgaria), a sports bar with projection TV, snooker, pool, table football, table tennis, a Chinese restaurant, Indian restaurant, fast food cafeteria, pizzeria, gymnasium, sauna, massage parlour, clinic, chemist, sports shop and minimarket. Steve Avery, a Director of BulgariaProperties.net Ltd, said, “It may sound like a cliché, but we really were in right place at right time! After two years in this business, I just couldn’t believe my luck to find such a gem. Anyone involved in this project should make a serious return on their investment.” On Borovets and Bansko generally, Steve had this to say: “Apart from having ski lifts and ski runs, these two towns are quite different from each other, and appeal to different groups of people. Bansko is an old, traditional residential town with lots of character and no fewer than 180 quaint taverns full of local people singing and dancing to a typical Bulgarian folk band. Borovets, by contrast, is purely a resort, with hotels, modern west European-style bars and night-clubs, cafés and restaurants. Residential property and holiday homes are therefore readily available in Bansko, but not in Borovets, where closest you can get is usually in one of surrounding villages. ‘As for property values, Bansko went mad for a period of three months at end of 2003, with land prices doubling, and then calmed down. Many poor goatherders suddenly found that they were rich. Nothing wrong with that, I say. Since then values have been pretty steady there until now, when they’re starting to creep up again. The reason for this is that sudden surge in foreign tourists to Bansko has left supply of holiday accommodation woefully short of demand. And this trend shows no sign of abating. To try to cope with it, there have sprung up many hotels and apartment projects, but it seems unlikely that even these will be able to satisfy demand for accommodation for several years yet. As a result, prices for such apartments range from 1,000 Euros per sq.m. for a ground-floor unit facing away from mountains, to 1,350 Euros per sq.m. for a top-floor example with a mountain view. Yet, people buy them. I guess, because a 1 bedroom 60sq.m. apartment for £41,000 is still a far better deal than you’d get in Spain. I’ve heard developers claim that 90% of their apartments are sold within 3 weeks! I only hope that we have such luck when ours are released in April! ‘In this respect Borovets, again, is different. Although it’s Bulgaria’s first and best-known ski resort, it stagnated for years… until now. The ‘Super Borovets’ project, funded by EU, governmental, foreign and local business sources, is scheduled to run from 2005 to 2009, and will revitalise whole region around town to a radius of 10-12km. This has already started to affect property values in surrounding areas. To give an example, in March 2004 we bought, unseen, a half-acre plot in a village 15km from Borovets. When I visited it, I discovered that it wasn’t suitable for building apartments; so, I put it on market in August. By November it was sold at an 80% profit – after all costs were deducted! ‘I am personally of opinion that ‘Bansko effect’ could strike around Borovets at any moment. That’s reason why BulgariaProperties.net Ltd is developing four projects here, and only two in Bansko. We can sell these apartments about 15% cheaper – at moment, anyway. Borovets must surely offer a better return on investment, regardless of type of property bought: land, a shack, whatever. You won’t find new apartments easily, though. As far as we know, BulgariaProperties.net Ltd is only developer building them. I don’t, however, expect this monopoly to last for long. ‘Bulgaria’s third ski region is at Pamporovo, which, like Borovets, is purely a resort. Funding is starting to come in, but full development, if it happens at all, is likely to follow several years behind Borovets. Its distance from Sofia (a day’s drive) makes it less attractive to visitors from north and west Europe. It is, however, popular with Greeks, because of its proximity to frontier. One of Bulgaria’s major motorway routes to Greece will pass very close to Pamporovo, and this should boost its popularity, as well as making Mediterranean Sea more accessible. ‘Property values are lower here than in Bansko and Borovets, but are creeping up gradually. I reckon that Pamporovo is a good long-term prospect; say five to ten years. The only reason why BulgariaProperties.net Ltd has no developments here is because I’ll probably have retired before boom happens.” How does a mountain area investment compare with coastal properties? “Significant differences yet again. Until recently, most of investment was flooding into northern Black Sea coast resorts, from Varna down to Sunny Beach. The area became very popular as a result of Bulgarian government’s ‘Bulgaria Beautiful’ TV campaign back in ‘80s, and subsequent interest of package tour operators. Now that north is saturated with developments, interest has begun to creep down coast. This is causing a steep rise in property values. They are still lower than those in north, but gap is closing. An investment in south should therefore offer a better ROI.
| | Personal Training: Name One Good Reason Someone Should Hire YouWritten by Aaron Potts
By time you have gotten past title and read first line of this article, you should already have one reason in your head why a prospective client would hire you. If you don't, then you may have already discovered biggest obstacle to success of your personal training career!What we're talking about here is a very important sales tool known as a "Unique Selling Proposition". Basically, this is single most important thing about your business that makes you stand out from other professionals in your industry. The basic, bare bones, from gut, instinctive answer that comes to your mind when someone asks, "Why should I train with you instead of another trainer"? After all, isn't this absolute most important question that you could possibly answer? Isn't this similar to a question that you ask yourself every single time you are about to spend money? When you are headed out to grocery store, you decide to go to a particular store. Why? Better prices, usually, although that is not always answer. If you are going to get gas in your car on way to work, you choose a specific gas station to fuel up. Why? Price sometimes, but often with a convenience store, location is more of a deciding factor. What about if you are going to go shopping for clothes? What makes you decide to go to an anchor store like Sears or JC Penney instead of going to Target, or Wal-Mart? Certainly not price, since department stores are usually cheaper. Why did you go to mall? By now you should be starting to see a pattern developing here. Whether you are talking about buying groceries, gas, or clothes, each time when you decide to shop at a certain establishment, there is always some underlying reason WHY you decided on that store. Whatever that reason is, that is Unique Selling Proposition of that store, and way they got your business! For grocery stores, it is often selection that brings in customers. Gas stations have price wars, but in end it often ends up just being about convenience. Clothing stores get a lot of their business from brand names that they carry, rather than their rock-bottom prices. Those 3 examples were chosen to illustrate an incredibly powerful point for you in your personal training business. That point is that you need a Unique Selling Proposition, and contrary to popular belief, having a lower price is not one that you want to choose. In fact, lowering your prices can help you to actually LOSE customers, and will definitely help your business to a lower bottom line! Now ask yourself same question again, only this time, really take time to think about answer. Why should someone train with you instead of another trainer? It is possible - in fact, even likely - that you may not have a good reason! If that is case, your business is surely suffering as a result, and coming up with your own Unique Selling Proposition should become your highest priority. Here is a brief but hardly all-encompassing list of ways that your business may stand out from your competitors. Even if none of these ideas apply to you, utilize this list to start thinking of other ways to make yourself a more appealing option for potential clients than your competitors. Customer Service. This has been one of most basic business success secrets since dawn of time, yet personal trainers often don't take care of their customers nearly as well as they should. For some great tips on customer service, see article 'Personal Training: 6 Secrets of Award Winning Customer Service' at following URL: http://www.completepersonaltrainingbusiness.com/article2.html Experience. People have always valued businesses who have a lot of experience in service being provided, and that is certainly true for personal training. Your client's very health and well-being is in your hands! Don't expect long-term personal training clients if you don't have knowledge to get them results that they are looking for.
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