Larionovo, Ireland’s leading overseas property investment specialists today, (Wednesday 15^th November 2006) announced the exclusive launch of the new Forest Hills Mountain Resort Development in Pamporovo, Bulgaria. 

Set in the heart of the famous Rhodope Mountains, Forest Hills promises the best of both worlds to Irish property investors, an excellent year round rental opportunity and a unique lifestyle purchase, at amazing prices.

Prices start at €35,000 for studios and €75,000 for one bedroom apartments, while two bed units range from €112,000 up to €166,000 depending on size and layout of the unit. These apartments feature top-quality range of fitted kitchens, Spanish tiled flooring and solid timber double-glazing. 

The area where the development is located boasts five months of snow and up to 120 days of dazzling winter sunshine, which makes for excellent skiing conditions from November to early April. The warm, dry summer climate is ideal for golf, water sports, hill walking or enjoying the Rhodope’s renowned reputation as a natural spa location. Beach resorts on the Greek Aegean Sea are also just 55 kilometres away from the development.

 Commenting on the resort, Raymond Norton, Larionovo said:
“This mountain resort investment Forest Hills make the most sense, they’re popular year round and pull much higher rental returns than coastal properties and are at lower prices.” 

Pamporovo is already one of Bulgaria’s winter sports pearls. Unlike those on the Black Sea, which shut down completely during the winter freeze, this significantly extends its rental return potential. 

Forest Hills is also extremely well equipped in amenities and facilities for residents, from its restaurant, bar and shopping centre to its luxury spa centre with gym, swimming pool, sauna and jacuzzi.  There’s also an internet zone and a business centre, plus tennis courts, horse riding, ski facilities, and a games room and kid’s club area.

Raymond Norton continued:
“However, these prices will not hold for much longer, Bulgarian real-estate agencies are predicting a massive increase in investment once Bulgaria enters the EU in two months time (January 1 2007). We have been advised that the developer of Forest Hills will be increasing his prices by 5% -7% on 15^th December 2006.  So the time to buy is now, before prices escalate shortly.”

Tourism is currently booming in Bulgaria, particularly in the Pamporovo region where the Government’s grand Perelik Project is linking ski slopes, lakeside amenities and an Ian Woosnam designed golf course to create the country’s largest outdoor sports tourism centre.  Further details:  info@larionovo.com