Golf Club Ibar Property Owners Forum! -bulgaria!

Jain and Chris · #53 06-09-2007, 12:12 PM

Hi jpw, the reason I have not said much in this IBAR thread is that I know the golf courses on the coast much better than this development as I get over there more regularly. However, Deedee asked me this the other day too and I spoke with a good friend of mine who knows the develpment very well and visits more frequently than I ever do. Here is what he told me :
Pro’s:
Very cheap in comparison to any other golf course in the World, and most other property too.
Nicklaus Design ensures a top notch course
Located just 45 mins from Sofia and 25 from Borovets (this is also a con, see below)
SHOULD show good ROI, selling very well
No Buyers commission from most agents

Con’s:
Very cheap price is slightly reflected in the finishing’s, the quality is very average in comparison to other courses
It is (currently) the only golf course worth mentioning in the area, so it will be difficult to attract serious golfers to come on holiday as they like to play multiple courses
It is 25 mins from Borovets, which will put it to the bottom of everyone’s winter accommodation list.
Not got the best onsite facilities in comparison to the other courses, thus again detracting from the rentability.
Annual fees are very high in relation to property value and in comparison with other courses

Hope that helps?