Delo Reports on “the Short Colonisation of Soča Valley” By UK Buyers

By , 09 Oct 2018, 10:50 AM Lifestyle
Screenshot of the story in question Screenshot of the story in question delo.si

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Harsh winters, the need for repairs, and poor infrastructure turned out to be nasty surprises for those who bought from afar. 

October 09, 2018

The newspaper Delo has an article on what it calls the short colonisation of Soča Valley by British buyers. It notes that many bought property in the area ten years ago because of its natural beauty and the opportunities for sporting activities, as well as the promise of rising prices. This latter point was especially attractive more than a decade ago, when old houses could be bought for €20,000 to €50,000., which were often marked directly in the UK as potential holidays homes.

However, many such UK-based buyers lacked the funds or inclination to renovate the properties, or to live in them, and they are now coming back on the market. Others, having first seen the Soča Valley in summer, where shocked at the harsh winters and relative lack of infrastructure, and sought to relocate.

That said, the story also has a short profile of Matthew Norfolk, who has successfully accumulated a number of properties in the area by renovating old homes and renting them out to tourists, which he sees this as a safe investment strategy as long as the Soča Valley maintains its appeal.

The peak of the market for UK buyers is said to have been 2006, with purchases collapsing to a tenth of that year’s by 2009. In 2017 only three purchases were made in Tolmin administrative unit by British nationals, and this year only two.

The full article, in Slovene, can be found here.

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