Bankso ‘bites the bullet’

Bansko is feeling the effects of the credit crunch, claims Overseas Property Blog…

Interest in the town dropped off severely in 2007, with prices for hotel rooms dropping, and occupancy down. Also affected are property prices and with a lack of interest from UK buyers, Bansko is attempting to pull in investors from Russia, Spain and Greece instead. Presumably the Spanish like to head away from the horrible winter weather, much like the Brits.

Part of the reason for the slowdown is the recent ban on developments, implemented by the EU’s “Natura 2000,” network. Natura 2000 is an EU wide network of nature protection areas established under the 1992 Habitats Directive. The aim of the network is to assure the long-term survival of Europe’s most valuable and threatened species and habitats. It is comprised of Special Areas of Conservation (SAC) designated by Member States under the Habitats Directive, and also incorporates Special Protection Areas (SPAs) which they designate under the 1979 Birds Directive.

Natura 2000 is not a system of strict nature reserves where all human activities are excluded. Whereas the network will certainly include nature reserves most of the land is likely to continue to be privately owned and the emphasis will be on ensuring that future management is sustainable, both ecologically and economically. The establishment of this network of protected areas also fulfils a Community obligation under the UN Convention on Biological Diversity.