BUDGET OPTION: BULGARIA
Low property prices and inexpensive ski passes (usually under £10 a day) make Bulgaria ideal for a budget ski property. Because of the level of challenge its slopes can offer, it is also most suitable for the occasional skier and for those with little experience. The season lasts from mid-December to late March or even late April, and there are daily flights from Britain; the low-cost airlines have not moved in yet, so fares are comparatively high.

During the summer this sparsely populated, largely rural country offers a wealth of activities such as hiking, fishing and mountain biking, as well as the fabulous beaches of the Black Sea coast. The numerous historic towns, unspoilt villages, castles and churches are also waiting to be explored.

According to research by the property investment expert Assetz, Bulgarian ski resorts offer rental returns of up to 12 per cent — because of their year-round attraction the returns are double those of their coastal counterparts.

One of the best ski resorts in Bulgaria is Bansko. Avatar International (08707 282827, www.avatar-international.com) is marketing Predela, a development in Bansko just 100 yards from the main ski lift. On the outskirts of the Pirin mountains, Predela comprises a variety of one, two and three-bedroom apartments priced from £45,500, built in the style of the local 18th-century architecture. Typical features include terraces with views of the Pirin and Rilla mountain peaks, and there will be a fitness centre and indoor pool.

“Property prices here are much lower than those in the Alpine regions, so apartments have excellent letting potential,” says Amar Sodhi, managing director of Avatar International. “Bansko has the best snow record and longest ski season of all the Bulgarian resorts.”

UNSPOILT ALPINE OPTION: AUSTRIA
Joining the European Union in 1995 meant that Austria’s restrictive property laws were lifted. In areas such as St Anton in the Tyrol, however, properties are seldom available. On the whole, prices in Austria are similar to those in French and Swiss resorts, but Austria’s advantage is a lack of development, which means more unspoilt areas.

Its Central European location means that attractive cities such as Vienna, Salzburg, Prague and Venice are within easy reach. The ski season generally extends from December to early April. Properties in the best-known resorts such as Zell am See and Kitzbühel are expensive, but prices come down around lesser-known towns like Zillertal, Zoll, Scheffau, Kufstein and Wörgl. During the summer the Alpine regions are a haven for hikers, golfers — good courses abound — mountain bikers and climbers, while the numerous lakes and rivers are ideal for fly-fishing.

La Perla Living is creating Clubhotel Hinterthal, one of the first luxury developments for non-resident purchase in Austria. The development will be managed and rented on the owner’s behalf by La Perla Living, and the two-bedroom apartments are expected to bring a weekly rental of about £1,200.

Clubhotel Hinterthal is located in Salzburgerland, in the pretty Alpine village of Hinterthal, within the heart of the Hochkönigs Winterreich, an extensive ski area that takes in the towns of Maria Alm, Hinterthal, Mühlbach and Saalfelden.

Homes range from two-bed apartments from €345,536 (£237,000) to those with three beds at £682,000; they are set within a renovated traditional farmhouse and new chalet-style buildings. A ski-lift runs right into the project, connecting the Hinterthal ski area with the Hochkönigs Winterreich skiing networks. Cross-country and night skiing are available and year-round skiing is possible on the nearby Kitzsteinhorn glacier. Further details are available from Newfound Property International (020-8605 9520, www.newfoundproperty.com).

Page 2: Summer ski, long-haul and exotic options () Continued from page one

SUMMER SKI/LONG-HAUL OPTION: VANCOUVER
The Whistler Blackcomb resort in Canada (named after the region’s two mountains) is a 75-mile, two-hour drive from Vancouver in British Columbia, which the Economist Intelligence Unit voted the best city in the world in October last year.

The resort offers a huge area of skiable land with every terrain type and is suitable for all levels of experience. With more than 200 ski runs, Whistler Blackcomb will be the venue for the 2010 Winter Olympics. It has the longest ski season in Canada, and the summer season usually begins in mid-June, with glacier skiing until August, while the winter season starts in late November.

Winter activities include downhill, cross-country skiing and night skiing, as well as indoor and outdoor skating, heli-skiing, dog-sledding, sleigh rides, snowboarding and snowmobiling. In the summer, activities include aerial sightseeing, bungee-jumping, canoeing, fishing, mountain biking, hiking, climbing, river rafting, sailing, riding and four good golf courses.

According to the Whistler estate agent Lance Lundy, family homes in Whistler have appreciated in value by more than half since 2000, while apartments have gone up by about 70 per cent, driven by a shortage of supply. That ensures a good demand for rentals all year round, with returns of about 8 per cent.

A three-bedroom chalet on a spacious plot in a great location near the centre of Whistler has the address of 6716 Crabapple Drive. The Valley ski trail is accessible from the property and you can walk to the village alongside the golf course; the chalet is also less than a five-minute walk from Alta Lake, where the owner has access to a private beach. The asking price is £509,000 through Lance Lundy (001604 9353644 , www.whistlerrealtors.com).

EXOTIC OPTION: MOROCCO
Skiing in the High Atlas mountains is a fantastic contrast to the sweltering beaches and souks of the exciting cities of Tangiers, Fez and Marrakesh. The season is from November to March, although skiing can be possible right through to the early summer. Snow conditions can be unreliable and probably the best time to ski is from mid-January to mid-February.

Oukaïmeden, which is 74 km (46 miles) from Marrakesh International Airport, is North Africa’s largest ski resort. Created by French developers, this simple, modest, friendly resort possesses Africa’s highest ski-lift as well as some awe-inspiring landscapes. There are ski runs of up to 20 km (13 miles), and donkeys are available to take you to areas not accessible by the eight lifts.

Oukaïmeden’s comparative lack of properties and amenities means that most buyers opt for a property in or near Marrakesh. Amazing Morocco (01937 848888/www.amazingmorocco.co.uk) offers a development of villas at Bab Adrar D’Atlas that can be owned on a shared basis of six weeks a year from £85,000. The resort, set amid 20 acres of subtropical gardens, is overlooked by the Atlas Mountains and is half an hour from Marrakesh.

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