11 Jan 2024

The executive director of “GBS Invest” spoke on current topics about vacation properties at a conference in Burgas

The "NextHome Black Sea 2024: Black Sea Forum for Vacation Properties" conference, which took place in Burgas at the end of last week, highlighted the most important trends, challenges, and opportunities in investment, architecture, and interior design of vacation homes, as well as sustainable design, construction, and innovation in this area. In a panel focusing on vacation property trends for 2024, GBS Invest's executive director Radoslav Kotlarov, who also manages Glavbolgarstroy's Ghome residential construction brand, drew attention to the growing demands of buyers for green building solutions.

The discussion on the most important topics for the Bulgarian Black Sea coast began with the participation of the Deputy Mayor for Tourism of Burgas Municipality, Manol Todorov, who noted that the region continues to recover after the pandemic. Additionally, we are striving to extend the season - from April to October, we call the early and late months "wings", stated Todorov.

We are trying to offer a comprehensive tourism experience - the entire Burgas region, to attract tourists outside the typical summer season for marine life, even during the winter months - in Sozopol, Nessebar, Pomorie, Deputy Mayor Todorov said. The municipality is starting a mass advertising campaign - in Central Europe, in the Scandinavian countries, emphasizing the opportunities for event, sports, and health tourism. This, of course, also relates to investments in and sales of vacation properties.

The Deputy Mayor for Tourism of the Burgas municipality also touched on the issue of buying vacation properties for investment purposes. Todorov explained that primarily clients are buying a vacation rental or resale with the intention of making a 10% return. He also specified that the reduction of the financial risk for both parties is, primarily influenced by the ensured attractiveness - a combination of price and quality, for the attracted customers even in the unattractive months.

According to the executive director of GBS Invest, Radoslav Kotlarov, investors are increasingly looking for projects that use environmentally friendly building materials, renewable energy sources, and new technologies. In terms of business decisions, he noted the company's conservative approach to business decisions. We refuse offers, we evaluate the benefits, the costs, the price of the land is important. Our focus is on quality over quantity, he emphasized.

In response to these emerging market trends, in the new residential construction project of "GBS Invest" - the "Lira" complex near the "Saint Thomas" complex, the company plans to use premium materials - stone cladding, wooden cladding, and thermal insulation is mineral wool with a thickness of 12 cm.

"There will be two buildings with a total of 55 apartments, connected to a treatment plant. The project includes a landscaped courtyard, children's areas, access control, a restaurant, and a beauty salon. 76 parking spaces are planned, which exceeds the requirements. There will also be a bicycle center with service, which will be operational after feedback from visitors to the complex. Visitors are increasingly using bicycles for trips to nearby locations like Sozopol," said Kotlarov.

Construction is planned to begin in the coming weeks, with all planning and regulatory procedures having already been successfully completed with the aim of completing phase 1 of construction before the start of the tourist season.