THE Big Squeeze is even hitting people living abroad – as a Bristol couple who moved to Bulgaria three years ago are finding out.

Brian and Michelle Jones moved to the Bansko ski resort in central Bulgaria to start a new life, and spent their time building a £250,000 luxury log chalet.

But the couple cannot sell the chalet, and Mr Jones says Bulgaria's property boom is well and truly over.

With all the couple's equity tied up in the chalet, they have been forced to come up with a novel idea to get their money back.

So they are offering the chalet as the prize in what is thought to be Europe's first text-to-win competition for a house.

The cost of a text to the competition is £3, which the Joneses hope will encourage a lot of people to enter.

"We have reached the point here where the credit crunch has hit and the Bulgarian boom has completely finished," said Mr Jones, who worked in telecommunications in Bristol.

"Plus the fact that for family reasons we are looking at returning to the UK.

"So the house is up for raffle, but with a bit of a twist compared to the other ones at the moment.

"The twist to this one is that it's a luxury log chalet in a ski resort, it's only £3 a ticket and it's Europe's first text-to-win house competition.

"The house is perfect for a holiday retreat, ski resort, mountains etc."

The village of Bachevo, where the log cabin is, has traditional stone, straw and mud houses mingling with newer, more imposing buildings.

Bachevo is nestled between three mountain ranges and surrounded by pine forests.

In winter it's an Alpine dream, while in summer it's an outdoor pursuits paradise – with horse riding, mountain or quad biking and walking being just a few of the activities on offer.

Winters are for the skiing, and the summers are for tasting the local mountain scenery and activities.

Bansko is one of Bulgaria's premier ski resorts. It also has the longest ski season, from December 15 to May 15.

During the last few years the resort has undergone a huge investment process with new hotels and resort facilities being built.

It may sound perfect, but property investors such as the Joneses have come unstuck.

"The Bulgarians have never seen boom and bust because they only recently came out of communism," said Mr Jones.

"They have never seen a bust and are finding it very hard to accept that it's happening here.

"We have dedicated our last two years to this chalet. We have watched it go up. We know every screw and every pipe. We will absolutely miss it, but it will make someone a great holiday home."

Nothing is left out of the prize as the chalet comes completely furnished. Its features include an open lounge cathedral ceiling, three bedrooms, a basement games room and state-of-the-art home cinema.

The chalet is set on its own 600sqm plot of land overlooking a river and forest, with landscaped gardens and mountain views.

All taxes and legal fees will also be paid for before the winner takes ownership.

● To enter the competition, you need to answer the following question: What is an alpine cabin mostly made of. Text 'log', 'sand' or 'stone' to 88833.

For more information, visit www.winacabin.co.uk.