Bulgaria banking on skiing, sun and snow

Europeans looking to invest their money are turning to the East, writes Caroline O’Doherty.

YOU are in a valley between two beautiful mountains,” Mihail enthuses reassuringly although the thick wall of cloud and fog obscures the view to the end of the street, never mind the alleged 2,500 feet of ski slopes beyond. “Trust me.”

Lawyer and businessman Mihail Chobanov is one of the growing number of agents in Bulgaria vying for the trust - and cash - of western European customers looking for a place to invest in property.