News Bulgaria Grants BGN 680,000 for Hera Ship's Wreckage Investigation Tue, 15 May 2007 15:46:23 +0200 The second view of the wreckage of the Cambodian-flagged Hera ship, which sank February with 17 Bulgarians onboard near the Bosphorus strait, will cos... ...more "Face to Face" Exhibition of Sculptures Opened in Sofia Mon, 14 May 2007 21:33:26 +0200 The Sredetz hall of Bulgaria's Culture Ministry opened Monday the "Face to Face" exhibition of sculptures made of wood, glass, metal and ceramics. T... ...more Bulgaria in the "Limelight of Property Developments" Sun, 13 May 2007 13:22:00 +0200 Property developments in Bulgaria are very much in the limelight now that it has joined the EU, the Times of Malta writes in its latest issue and desc... ...more Land of Opportunity Sun, 13 May 2007 13:09:25 +0200 By Simonne Pace Times of Malta We've heard good and bad stories about property developments in emerging Eastern European markets. However, surely, pl... ...more AVOID INVESTING IN BULGARIA UK CONSULTANTS Fri 11 May 2007 UK consultancy company TRI Investments warned potential real estate investors to avoid investing in European resorts such as those in Bulgaria, France and Italy. The warning came after companies shares fell on the real estate stock exchange in Madrid, citywire.co.uk said, as quoted investor.bg. TRI Investments managing director Chris Finch said that his company was initially enthusiastic about opportunities for ...more UK Consultants to Property Investors: Beware of Bulgaria, France and Italy Fri, 11 May 2007 22:28:53 +0200 www.citywire.co.uk Specialist house TRI Investments has warned property investors to steer clear of European holiday destinations such as Bulgaria, F... ...more HOTELS AT BULGARIAS BLACK SEA COAST LEFT UNSOLD Thu 10 May 2007 Investors in Bulgarias coastal regions are failing to find buyers for their newlybuilt hotels. Nearly 30 new hotels were offered for sale over the past year, 24 Chassa daily reported. Only 250 hotels were on sale in southern coastal regions. The hotels are being sold in all stages of construction. The average price is 856 euro a sq m. Most of the hotels for sale were in the resorts of Sveti Vlas St Vlas, Slunchev Bryag ...more Gas Masks Cause Fire in Bulgaria Wed, 09 May 2007 14:46:37 +0200 Thousands of old gas masks caught flames causing huge fire in Bulgaria's capital city of Sofia on Wednesday. The gas helmets were left at a meadow in... ...more Wanted: Desirable Holiday Property in Bulgaria - Must Have Sea View Wed, 09 May 2007 13:41:28 +0200 By Pilvikki Kause Helsingin Sanomat Anna-Liisa Pirinen from Kontiolahti in Eastern Finland looks delightedly at the small ochre-coloured apartment b... ...more COMMERCIAL PROPERTY MARKET IN BULGARIA TO GROW BY 300 PER CENT Tue 08 May 2007 The commercial property market in Bulgaria is expected to grow by 300 per cent in the next three to five years, Colliers Bulgaria real estate agency head Atanas Garov said. Garov took part in a conference linked to the upcoming Balkan Property exhibition BalPex, investor.bg reported. All sectors of the property market had been developing dynamically and investment was expected to increase in the next ...more Bulgaria's PM on Meeting with Russia's Putin Tue, 08 May 2007 07:54:18 +0200 On the last day of his visit to Russia, Bulgaria's PM Sergey Stanishev will meet country's President Vladimir Putin, Darik News reported. Stanishev ... ...more BULGARIAN SPA PROJECTS BOOST PROPERTY PRICES Mon 07 May 2007 Bulgarias State Agency for Tourism says that the number of tourists visiting spa resorts will increase by 75 per cent in the next three or four years. Investors have been working on spa tourism projects for a long time, Kapital daily reported. There are spa centre and hotel construction projects in, among other places, the wellknown destinations Sandanski, Kyustendil and Apriltsi. These regions boast ...more APARTMENT PRICES IN BULGARIAS CAPITAL SLIGHTLY INCREASE IN APRIL Fri 04 May 2007 Prices of apartments in Sofia slightly increased in April, data of Foros real estate agency showed. The average price increase in Sofia for new construction, panel buildings and brickmade buildings for April is 4.42 per cent. Lozenets residential district experienced an increase of 10.77 per cent. Prices there reached 1080 euro per sq m. The increase was attributed to smaller number of offers while the interest remained ...more PROPERTY AGENTS IN BULGARIA EXPECT LOSSES BECAUSE OF NATURA 2000 Thu 03 May 2007 Real estate investment can be redirected from Bulgaria to the neighbouring countries because of the introduction of the European environmental network Natura 2000 and the construction limitations related to it. Potential investors are worried because of these developments, agents said as quoted by 24 Chassa daily. Worries focus on traditionally popular areas like the Black Sea coast and the ...more REAL ESTATE PROJECTS IN BULGARIA PRESENTED DURING INTERNATIONAL EXPO Wed 02 May 2007 Bulgaria will take part in the largest real estate exhibition SIMA starting May 29 in Madrid. Investors and real estate agencies will participate with projects worth over 400 million euro, Pari daily reported. Projects for two holiday villages feature among the largest developments to be presented at the expo. The first one is named Topola Village Resort, the construction of which will start in the summer of 2007. It will be located ...more EU ACCESSION INCREASES RESIDENTIAL PROPERTY PRICES IN BULGARIA Wed 02 May 2007 The price increase of residential property in Bulgaria after the countrys EU accession is sufficiently higher than expected, research ordered by investor.bg showed. The price hike concerns both old and new construction in Sofia and in other bigger cities and towns. The prices per sq m went up three to 12 per cent in Sofias residential disitrcts of Lyulin, Mladost and Nadezhda. In some parts of the residential districts, ...more NEARLY 330 EXHIBITORS TAKE PART IN PROPERTY AND INVESTMENT EXPO IN POLAND Mon 30 Apr 2007 Nearly 330 exhibitors from 18 countries took part in the 16th edition of International Property, Investment and Finance Fair REFE, an increase of 12 per cent in comparison to figures for the previous year. REFE took place from April 20 to 22 in Poland. In the investment part of the 16th REFE banks, property managers, city and commune councils presented property investment opportunities. Discussions on finance ...more EU ENTRY MAKES BULGARIA ATTRACTIVE TO SECOND HOME PROPERTY SEEKERS Mon 30 Apr 2007 Foreigners buying property in Bulgaria are aware of local regulations since in most cases they use the services of Bulgarian companies that deal with legal issues, representative of Home for You Ivan Goranov said. Goranov responded to an article that appeared in Daily Express saying that a number of British property seekers were cheated in Bulgaria. Problems occurred since foreigners do not own the land on ...more LAND PRICES IN THE CENTRE OF BULGARIAS CAPITAL SLIGHTLY INCREASE IN APRIL Fri 27 Apr 2007 The average price of land in the centre of Sofia increased by 1.07 per cent in April, the national real estate company Foros said. Prices reached 1 700 euro per sq m, which is the highest average price for land in Sofia so far, investor.bg reported. Second ranks the region near Sofias Medical Academy, where land prices reached 1 394 euro per sq m. Third is the residential district Zona B19 with prices of 1 268 euro per ...more EUROPEAN EXPERTS TO EVALUATE PROJECTS IN BULGARIAS POTENTIAL NATURA 2000 AREAS Fri 27 Apr 2007 Representatives of the Environment Directorate General of the European Commission will come to Bulgaria in connection to the introduction of the Natura 2000 environment preservation network.Projects to be carried out in the potentially included areas will undergo environmental evaluation first, Environment and Water Affairs Ministry said. EC representatives said that Natura 2000 does not aim to ban ...more LOGISTICS PARK VARNA GETS BULGARIAS FIRST CLASS INVESTOR CERTIFICATE Wed 25 Apr 2007 Logistics Park Varna got a first class investor certificate on April 25.The centre is being set up in the industrial zone of the coastal city of Varna. Upon completion it will have built up area of over 80 000 sq m. The centre will have storage areas, office space and retail centres meeting international requirements. FairPlay International and Bulgarian Property Developments feature among the project investors. ...more BUSINESS PROPERTY DEVELOPMENTS GAIN POPULARITY IN BULGARIA Wed 25 Apr 2007 Investor interest in business property in Bulgaria grows. Most investors plan developments like retail centres, real estate agents said. Bulgaria faces numerous problems related to retail and office space, investor.bg reported. Figures for Bulgaria show that 160 sq m of retail space is available in Bulgaria per 1000 people. In comparison, 1000 people in Poland enjoy 520 sq m of trade area. Concerning office space, the ...more GLOBAL FINANCE INVESTS OVER 50 MILLION EURO IN CONSTRUCTION PROJECT IN BULGARIA Tue 24 Apr 2007 Investment company Global Finance plans to invest over 50 million euro in the construction of a multifunctional complex in Sofia. The company has already bought a plot in Sofias residential district East worth 17 million euro, investor.bg reported. The complex will include offices, commercial and residential terrains having a total builtup area of over 40 000 sq m. Global Finances real estate investment fund Global ...more RESIDENTIAL PROPERTY PRICES IN BULGARIA UP 22.6 PER CENT IN FIRST QUARTER OF 2007 Tue 24 Apr 2007 The average residential property prices in Bulgaria for the first quarter of 2007 reached 988.2 leva per sq m, data of National Statistical Institute NSI showed. The price increase is 9.3 per cent compared to figures for the last quarter of 2006 when the average price reached 904 leva per sq m, investor.bg reported. Most expensive apartments in the first quarter of 2007 were offered in the coastal city of Varna, ...more SOZOPOL TURNS INTO MOST EXPENSIVE PROPERTY MARKET ON BULGARIAS COAST Mon 23 Apr 2007 The increasingly intense construction of vacation villages in Bulgarian resorts led to stagnation of the house market in the region. The coastal cities of Bourgas and Varna exhibit the most visible overconstruction, investor.bg reported. The number of houses offered for sale in each of the two towns reached 1100. Most potential buyers look for property located close to the beach, which limits the chances of some owners to ...more HOTELS PROJECTS RECEIVE APPROVAL IN BULGARIAS HISARYA SPA RESORT Sat 21 Apr 2007 At least eight projects for hotel construction in Bulgarias Hisarya spa resort have already received approval, Hisarya municipality said.The town is famous with its healing mineral springs, investor.bg reported.Bulgarian and foreign investors showed their interest in the town. Large plots feature among the most wanted terrains for the construction of hotels, spa centres and smaller vacation houses. ...more DUTCH REAL ESTATE FUND INTERESTED IN BULGARIA Fri 20 Apr 2007 Real estate fund Bouwfonds Property Development BPD, part of Dutch financial group Rabobank is investigating the execution of a project in Bulgaria. The fund is also interested in investment projects in Romania and other countries in the region, investor.bg reported. BPD representatives said that it was early to make specific plans but a decision is to be taken within six months. The company will focus on ...more OVERCONSTRUCTION BRINGS DOWN PRICES IN BULGARIAS RESORTS SIGNIFICANTLY Fri 20 Apr 2007 Overconstruction of coastal resorts is a fact and represents major setback to the development of Bulgarias resorts, head of the National Tourism Board Georgi Gergov said. Foreigners pay 120 euro for a weeklong vacation, Gergov said. The sum includes airport ticket, as well.Only an inexpensive offer can compensate for the overconstructed resorts and the poor conditions there, Gergov said. ...more CONSTRUCTION IN BULGARIAS COASTAL RESORTS BANNED DURING SUMMER SEASON Thu 19 Apr 2007 Bulgarian government will impose a construction ban in all Black Sea coastal resorts during the summer season. The draft law for Bulgarian Black Sea coastal development was approved on second reading on April 19. The ban will include all resorts and vacation villages and will be valid in the period from May 15 to October 1. Urgent repair works in the resorts will be the only exceptions allowed. ...more SECOND MAJOR TOURISM COMPLEX TO BE SET UP CLOSE TO BULGARIAS BOROVETS Thu 19 Apr 2007 A project similar to Super Borovets will be the second major development in the region of Borovets mountain resort. The tourism complex will be set up close to Maliovitsa, 24 Chassa daily reported. The zoning plan is currently drafted and will be finalised by May. According to plans, the project will feature five tourism zones that will accommodate between 8000 and 10 000 tourists. The complex will have ...more CONSTRUCTION IN BULGARIAS SOZOPOL BANNED DURING SUMMER SEASON Wed 18 Apr 2007 A construction ban will be imposed in the coastal town of Sozopol and will be valid from May 15 to September 30. The ban was enforced in connection to summer season 2007 and tourist visits to the coastal area. Investors have to stop work on all projects in Sozopol and the nearby resorts. Construction companies also have to clean the sidewalks and the surrounding areas from building materials and renew ...more SPANISH COMPANY INVESTS ONE BILLION EURO IN REAL ESTATE AND ENERGY PROJECTS IN BULGARIA Wed 18 Apr 2007 Spanish company Ferry Group will invest nearly one billion euro in one real estate and one energy project. The company focused its investment plans on tourism, real estate and agriculture as the key economy sectors in Bulgaria, head of Ferry Group Manuel Ferry Sanchez said. The value of each project can reach up to 500 million euro, investor.bg reported. The real estate project initially included the ...more BULGARIAS CAPITAL EXPERIENCES TRADE COMPLEX CONSTRUCTION BOOM Mon 16 Apr 2007 Bulgarias capital experienced a real boom in the sphere of commercial complex construction in 2006, Italian financial daily Il Sole 24 Ore reported. The newspaper said that four new retail centres opened doors in 2006 and 11 malls are still under construction. The report also mentions Sofias problems with the lack of proper infrastructure, public transport and refuse collection systems. ...more PROPERTY SALE AND RENT PRICES IN BULGARIAS CAPITAL EXPERIENCE DIFFERING TRENDS Thu 12 Apr 2007 Apartment prices in Bulgarias capital continued climbing in the first months of 2007. Rent prices, however, experienced different trends.In bigger cities, rent prices increased gradually, 24 Chassa newspaper reported. In Sofia, some rent prices decreased, mostly for smaller apartments. Price decreases vary from eight to 20 per cent. Similar percentage increase is registered concerning other types of ...more BULGARIAS BOURGAS STOPS ISSUING CONSTRUCTION PERMITS DURING THE SUMMER Wed 11 Apr 2007 The coastal city of Bourgas will refrain from issuing construction permits until the end of summer season 2007. Bourgas mayor Yoan Kostadinov already issued an order that will be effective from June 4 to September 10. The ban will affect the beach area and the central parts of Bourgas, investor.bg reported. Emergency construction works and underground infrastructure projects will be carried out. Projects that ...more MORTGAGED PROPERTY MARKET IN BULGARIA FAILS DEVELOPING Mon 09 Apr 2007 The market of mortgaged residential and commercial property in 2007 experienced a slight decrease as compared to sales figures for 2006.The most frequent reason for the sale of mortgaged properties is the inability of owners to pay their monthly installments, investor.bg reported.Only 30 mortgaged properties are currently offered on the market in Sofia and their number in the past six months remains ...more BULGARIAS PROPERTY MARKET REACHING SATURATION POINT REPORT Tue 03 Apr 2007 Bulgarias real estate market would soon reach its saturation point, while Romania still had options to develop, The Diplomat Bucharest reported. Some areas in Bulgaria are already overdeveloped, agents said. Coastal resorts like Sunny Beach experienced overconstruction, which in turn affected the plans of investors. Coastal areas in Bulgaria and Romania, as well as the region surrounding the capital cities offer ...more UK FUND INVESTS IN HOLIDAY VILLAGE NEAR BULGARIAS BANSKO Tue 03 Apr 2007 UK investment fund Lewis Charles Sofia Property Fund will provide finance for the construction of a holiday village near the village of Banya, not far from the Bulgarian ski resort of Bansko. The fund already signed a contract with Bulgarian Winslow Developments to regulate and develop the project, Bulgarian National Radio BNR reported. The project in Banya envisages holiday village including tennis courts, ...more PROPERTYWISE ANALYSES EU ENTRY IMPACT ON BULGARIAS PROPERTY MARKET Mon 02 Apr 2007 The first 2007 issue of PropertyWise, the specialised real estate magazine of Sofia Echo Media, is already available online. At www.propertywisebulgaria.com readers can learn more about the impact that Bulgarias EU entry had on the local property market. On January 1 2007 Bulgaria achieved its long pursued goal and became member of the EU. Real estate agents predicted that the accession will ...more WINTER RESORT IN BULGARIA DECREASES FACILITY USAGE FEES Thu 29 Mar 2007 The daily ski card in Borovets winter resort will now cost 20 leva. The resort decided to take down all prices towards the end of the ski season. The threeday card, enabling usage of all facilities, costs 56 leva and the sixday card is worth 104 leva. Hotels also decreased accommodation prices. Some of them offer special summer packages to attract tourists, Focus news agency reported. Other offers ...more YET ANOTHER PROPERTY BOOM EXPECTED IN BULGARIA AND ROMANIA Wed 28 Mar 2007 Though Spain and Greece remain attractive destinations for Italians looking for property abroad, Southern Europe also emerged as a possible market. Spain and Greece still offer good price to quality ratio, La Stampa newspaper reported. Bulgaria and Romania were to see yet another property market boom, predictions of research institute Scenari Immobiliari showed. Bulgaria, Croatia and Slovenia are the newly ...more PROPERTYWISE FOCUSES ON ALTERNATIVE PROPERTY DEVELOPMENTS IN BULGARIA Mon 26 Mar 2007 The April May 2007 issue of PropertyWise magazine, the specialised real estate publication of Sofia Echo Media, will be on sale starting March 30. Alternative developments, environmental assessment of property projects and ecological requirements will feature among the issues topics. PropertyWise will also analyse the manner in which the snowless winter season affected the property market in Bulgarias ...more PROPERTY BOOM STILL ONGOING IN BULGARIA REPORT Fri 23 Mar 2007 In an article entitled On Course for a Building Bonanza, The Independent reported that Bulgarias property boom continues. Initially Bulgaria attracted investors with the low prices but is now moving up in the international property market. Coastal resorts continue attracting the majority of buyers, the report said. Several major projects are carried out at the moment and promise to offer highest quality upon ...more VACATION PROPERTY SUPPLY IN BULGARIAS WINTER RESORTS INCREASES FOUR TIMES Tue 20 Mar 2007 The supply of vacation property in Bulgarian winter resorts increased nearly four times within the past 18 months, Colliers International market research showed. From June 2006 to December 2006 vacation property offering increased by 50 per cent and the current number of offered properties is nearly 18 000, Bulgarian National Radio reported. Nearly two thirds of the vacation property for sale can be found in ...more FOREIGN PROPERTY INVESTORS TO SHOW INCREASING INTEREST IN BULGARIAS BOROVETS REPORT Tue 20 Mar 2007 The ski resort of Borovets is going to become increasingly attractive for foreign property seekers, Asta Bridge executive director Anton Pankev said. During the coming winter season Borovets is to see a number of major projects, Pankev said. The execution of such plans was going to attract further interest, he said. Upon completion new property in the resort will be offered ...more OVER 29 OF BULGARIAS PROPERTY DEALS INVOLVE FOREIGN INVESTORS Mon 19 Mar 2007 Over 29 per cent of the property deals concluded in Bulgaria in 2006 involved foreign participation, executive director of real estate company Asta Bridge Anton Pankev said. Nearly 66.87 per cent of all foreigners who bought property in Bulgaria came from UK, he said as quoted by Bulgarian National Radio. The British interest was attributed to regular flights between Bulgaria and the UK. Irish investors concluded nearly 13 ...more COURT TO DECIDE ON CONSTRUCTION IN BULGARIAS STRANDZHA PRESERVE Mon 19 Mar 2007 On March 19 and 20 the Supreme Court of Administration will examine the litigations of Tsarevo municipality and Crash 2000 company concerning a construction ban in Strandzha preserve. The ban was introduced in 1995, as Strandzha was considered protected area. In case the ban is lifted, construction in the natural area will become possible and the preserve will cease to exist. In November 2006, ...more MALLS IN BULGARIAS CAPITAL THREATEN OPEN MARKETS EXISTENCE Mon 19 Mar 2007 The construction of large retail areas and modern trade centres puts under question the existence of small shops in the residential areas of Sofia. Shop owners are still optimistic and seem to be doing nothing to keep customers, whose number decreases with every newly opened mall, Capital weekly reported. The shops tenants are constantly changing but the owners still refuse to lower prices, a saleswoman in ...more HOTEL CONSTRUCTION VIOLATIONS EXAMINED IN BULGARIAS BANSKO Fri 16 Mar 2007 Starting March 19 the Directorate for National Construction Control DNCC will launch a series of inspections concerning hotel construction in the winter resort of Bansko. The first inspection phase will last until March 28 and will target hotels under construction and the ones set up from 2004 to 2006, mediapool.bg reported. For that period, Bansko municipality issued more than 400 hotel construction permits. In case all ...more UK PROPERTY BUYERS AS INTERESTED IN BULGARIA AS IN FRANCE Fri 16 Mar 2007 The interest of British property seekers in Bulgarian property steadily increased over the past three months, This is Money financial website reported. Nearly 12 per cent of the inquiries for funds to buy property abroad came concerning property in Bulgaria as compared to 14 per cent for France, the report said. In some regions of Britain, property buyers were even more interested in Bulgaria than in France. Spain and ...more LATVIA AND BULGARIAS PROPERTY MARKETS SHOW GROWTH POTENTIAL Thu 15 Mar 2007 Bulgaria and Latvia are among the destinations pointed as the next big thing in the property investment market. UKs advice website BuyAssociation spokesman Paul Collins told Real Estate TV that these destinations offered the best potential returns in longer term.Economic and tourism growth potential in Bulgaria and Latvia was quot;at a steady but assured pace. quot; Collins said that many of the countries which ...more NEW COMPLEX TO OFFER 900 NEW RESIDENTIAL UNITS IN BULGARIAS CAPITAL Wed 14 Mar 2007 On March 15 the construction of a new residential complex will be launched in Bulgarias capital of Sofia. Residential Park will be built on 235 000 sq m and upon completion will feature more than 900 residential units, Bulgarian news agency BTA reported. Sofia mayor Boiko Borissov will attend the March 15 ceremony together with Bavarian minister of economics, transportation and technology Erwin ...more PROPERTY PRICES IN BULGARIAS CAPITAL TO REMAIN STABLE COLLIERS Tue 13 Mar 2007 Prices of property in Sofia will remain stable, while quality of construction and additional services offered will increase. Property purchasers are also to become more demanding. The property market in Sofia enters a more mature phase, Colliers International shortterm prediction said. Residential property supply is increasing and residential complexes of closed type are very popular, Colliers said. ...more BRITONS WARNED ABOUT PROPERTY INVESTMENT IN BULGARIAS RESORTS Mon 12 Mar 2007 Britons were warned to be careful when buying property in Bulgaria, because it could turn out that they are buying in resorts established illegally. Low prices and nice climate made Bulgaria one of the most popular destinations for British property investors, but the homes bought in the coastal resort of Golden Pearl may end up demolished, Daily Mail said. The resort was built in Strandzha preserve, which ...more PARLIAMENT IN BULGARIA TO VOTE ON CHANGES IN FOREIGNERS OWNERSHIP RIGHTS Thu 08 Mar 2007 Bulgarian Parliament discussed on second reading the changes in the law for ownership including a change from a banning to a restrictive regime of ownership for foreigners. Parliament will vote the texts on March 9, Parliament speaker Georgi Pirinski said. According to the ownership ban foreign citizens and companies do not have the right to own land in the country. Law changes will give the right of land ...more PROPERTY DEMAND GOES DOWN WHILE PRICES INCREASE IN BULGARIA Mon 05 Mar 2007 Property prices in Bulgaria increased by 10 per cent since the beginning of 2007, CreditCenter consultancy company data showed. Residential property market was calm as a result of the high prices, Focus news agency said. The supply was significant, but prices were too high and failed to meet the standard of the property. Most Bulgarians took bank credits to purchase property, CreditCenter said. Bulgarians covered ...more NEW TOURISM COMPLEX TO BE BUILT IN BULGARIAS SANDANSKI Thu 01 Mar 2007 Bulgarias tourism investment company Royal Holidays will construct a complex in the town of Sandanski. The complex, called Sun Dance, will be completed by the autumn of 2007, Dnevnik daily said. Its official opening will be held in October 2007. Sun Dance will consist of a fourstar hotel and nearly 60 apartments located in 10 houses. The hotel will dispose of six onebed rooms, 66 twobed rooms and ...more INCREASING NUMBER OF BRITISH INVEST IN BULGARIAS PROPERTY SECTOR Tue 27 Feb 2007 More than 30 000 Britons have invested in property in Bulgaria. The increased interest is due to the low prices and calm lifestyle in Bulgaria, which differs from that in UK, Daily Telegraph reported. The property market saw a purchase boom in the Black See coastal region as well as in the inner part of the country, particularly in the cities of Veliko Turnovo and Bansko, which is turning into a prestigious ...more CONSTRUCTION OF MALL IN BULGARIAS VARNA TO BEGIN IN SEPTEMBER 2007 Mon 26 Feb 2007 Construction of MallVarna in the coastal city of Varna will start in September 2007, former Mall of Sofia CEO Eli Egozi said. The mall should be completed by September 2009, Bulgarian news agency BTA reported. MallVarna will spread on 40 000 sq m and will include office buildings and a hotel, increasing the malls total area to 60 000 sq m. Investment in the project is expected to reach 100 million euro. ...more STORAGE AREA DEMAND IN BULGARIA EXCEEDS RESIDENTIAL PROPERTY SEEKING Mon 26 Feb 2007 The demand for uptodate warehouse facilities in Bulgaria is higher than the demand for residential property. High interest in modern warehouses resulted from the insufficient number of renewed such facilities, real estate consultant Colliers International said. The demand for warehouses will continue to increase in connected to EU food industry requirements. Supply on the residential property market is too ...more RUSSIANS SHOW INCREASING INTEREST IN BULGARIAS PROPERTY SECTOR Mon 26 Feb 2007 Domexpo 2007 exhibition ended in Moscow on February 25. Nearly 40 Bulgarian companies took part in the real estate expo. A total of 270 participants took part in the forum. Queues of visitors formed because high number of people wanted to examine and select a property in Bulgaria, Bulgarian National Radio reported. Traditional destinations like Spain and Cyprus turned out to be less popular than Bulgaria at ...more ENTERTAINMENT PROPERTY PROJECTS IN BULGARIA HAVE POTENTIAL, RETAIL MARKET SATURATED SOON Fri 23 Feb 2007 Sofia offered some good opportunities for investment in the property sector, chief architect Petar Dikov said. The land market has potential to develop, Dikov said. Though a zoning plan was accepted last year, it will be updated soon to give potential investors a clearer picture.Though some parties are beginning to say that the residential market is beginning to get saturated, I believe it is still quite open, Dikov said. ...more OFFICE PROPERTY MARKET IN BULGARIA TO CONTINUE GROWING REPORT Thu 22 Feb 2007 Though it was unpopular until 2003, the Bulgarian office property market is growing and is expected to evolve further, Landmark Property management board chairman Richard Macdonald said. Macdonald took part in the first ever property international press tour in Bulgaria. Sofia Echo Media and Central European Property Investment Forum CEPIF feature among the organisers of the event ...more MALL CONSTRUCTION IN BULGARIA HALTED DUE TO BIDDING PROCEDURE DISORDER Thu 22 Feb 2007 Stara Zagoras municipal council will stop the sale of a 9260 sq m area, where a 70 million leva trade centre had to be set up. A tender violation stands behind the decision. The municipality launched a tender to sell the lot in 2005. Two companies, local Agrosun and German Kaufland took part in the procedure, Dnevnik daily said. Agrosuns offer was higher, but was excluded from the procedure because of a sign offer ...more RUSSIAN PROPERTY INVESTOR ENTERS BULGARIAS PROPERTY MARKET Wed 21 Feb 2007 Russian group of companies MIAN announced that it will construct an office centre in Sofia. Sergei Ozerov, general manager of MIAN said that the group had paid 10 million euro for a plot of 5000 sq m in Sofia.MIAN planed to construct an office complex of 24 000 sq m buildup area which should be opened in 2008, Bulgarian news agency BTA quoted Russian media as saying. The company is in a process of ...more INVESTORS TO BUILD VILLA SETTLEMENTS IN BULGARIAS RHODOPE MOUNTAINS Wed 21 Feb 2007 Bulgarian and Irish investors intend to construct six villa settlements in Banite municipality, near the town of Smolyan in the Rhodope Mountains. Banite mayor Raicho Danailov said that the investors will provide more than 100 million leva for the project. Three of the settlements will be constructed near the village of Bosilkovo, on an area of 600 000 sq m. Two BulgarianIrish companies already purchased ...more MALL IN BULGARIAS PLOVDIV SIGNS AGREEMENTS WITH FIRST TENANTS Tue 20 Feb 2007 During a ceremony on February 20, Mall of Plovdiv signed agreements with the companies that decided to rent space in it. Plovdiv mayor Ivan Chomakov attended the event, Bulgarian news agency BTA reported.Agreements with international cinema company Cinema City, supermarket chain Piccadilly, store chain TechnoMarket and restaurant chain Happy were endorsed. Mall of Plovdiv spreads on an area of 22 ...more PROPERTY PRICE HIKE EXPECTED IN BULGARIAS PLOVDIV, SLIVEN AND YAMBOL Fri 16 Feb 2007 A growth in the price of property is expected in Plovdiv, Sliven and Yambol in 2007. The property market will fail registering record growth, Industry Watch representative Georgi Stoev said. In the end of 2006 economists predicted growth rate in the prices of property varying between 10 and 15 per cent. Developments in the beginning of 2007 confirmed these predictions, Focus news agency reported. Some ...more 180 MILLION EURO FOR NEW MALL IN BULGARIAS CAPITAL Thu 15 Feb 2007 A new commercial and business centre worth nearly 180 million euro will be constructed in Sofia. Austrian investment company Sparkassen Immobilien AG and German construction and investment company ECE Projektmanagement would provide the money for the construction, 24 Chassa daily reported. The mall, called Serdika Centre, will feature 200 shops having total area of 50 000 sq m, nearly 35 sq m of offices and ...more EU ENTRY TURNS BULGARIAS RESORTS INTO HOT PROPERTY AREAS Thu 15 Feb 2007 After Bulgarias EU accession the country became more than an attractive destination for holidaymakers. In addition it attracted an increasing number of foreigners keen on buying property, Deutsche PresseAgentur DPA reported. Holiday homes worth from 400 to 2000 euro per sq m were very attractive for foreign purchasers, DPA said. Some apartments located near the beach or ski lifts reached prices ...more EU ACCESSION AFFECTS INSIGNIFICANTLY BULGARIAS PROPERTY MARKET Mon 12 Feb 2007 Bulgarias EU accession failed to cause significant change in the local property market, Forton International Property Adviser representative Valeri Vulchev said. An increasing number of conservative investors was interested in the Bulgarian property market, Vulchev said as quoted by Focus news agency. An investor carrying out a project costing at least 30 million euro in less then five years is considered conservative, ...more NEW VACATION PROPERTY PROJECTS LAUNCHED IN BULGARIA Thu 08 Feb 2007 More than four million sq m of vacation property are being constructed or planned in Bulgarias resorts. In Blagoevgrad region, where the resorts of Banko, Razlog and Dobrinishte are situated, construction of more than a million sq m of vacation property was planned or launched, Yavlena real estate agency data show. The areas to be constructed were two times more than the figures for 2005, 24 Chassa daily said. ...more EURELATED PROPERTY PRICE BOOM PREDICTIONS FAIL COMING TRUE IN BULGARIAS VARNA Thu 01 Feb 2007 The price of property in the coastal city of Varna varied between 500 and 1500 euro per sq m, head of the Varna real estate association VANI Dobromir Ganev said. Nearly 15 000 properties were offered for sale, said Ganev. The average prices were 700 to 800 euro a sq m, Bulgarian news agency BTA reported. Predictions of major price increase related to Bulgarias EU entry have not become fact in Varna ...more PROPERTY PRICES IN BULGARIA TO GO DOWN Thu 01 Feb 2007 The prices of apartments in Bulgaria would probably decrease within three to four months, Yavlena real estate agency representative Anna Katsarova said. Katsarova said as quoted by 24 Chasa daily that the reason for the price decrease was that real estate owners started speculating in 2006 with Bulgarias upcoming EU accession. Calculations were based on too high expectations for price increase. ...more HOTEL BUSINESSES IN BULGARIAS WINTER RESORTS FACE PROBLEMS DUE TO LACK OF SNOW Fri 26 Jan 2007 Owners offered five hotels for sale in the beginning of the week in Bansko winter resort. Warm weather and the lack of proper skiing conditions affected seriously hotel businesses in Bulgarias winter resorts, imoti.net reported. Increasing number of hotels has been offered for sale already. Most investors took loans to construct hotels and the snowless winter proved fatal for their business plans, ...more PROPERTYWISE EXAMINES EU ACCESSION IMPACT ON BULGARIAS PROPERTY MARKET Thu 25 Jan 2007 The first issue of PropertyWise magazine for 2007 is coming out on Friday January 26. After a year of predicting and projecting how Bulgarias European Union membership will affect the real estate market, in the closing days of 2006 the magazine interviewed several real estate professionals about their expectations. Architects, real estate agents, economists and investors share their views about prices, interest rates, ...more NATURA 2000 REGIME IN BULGARIA LESS RESTRICTIVE THAN OTHER PROTECTIVE MEASURES Tue 23 Jan 2007 The regime for the carrying out of investment projects in Natura 2000 protected areas was much less restrictive than the measures valid for national parks and preserves, head of the parliamentary environment and water affairs committee Georgi Bozhinov said. Bozhinov and Parliament speaker Georgi Pirinski met on January 23 representatives of environmental organisations demanding maximum inclusion in the ...more BULGARIA SIXTH MOST ATTRACTIVE PROPERTY INVESTMENT DESTINATION Mon 22 Jan 2007 The amount of foreign investment in Bulgarias property sector made the country the sixth most preferred real estate purchase destination in the world. Property market in 2006 was dynamic and prices were growing gradually, Focus news agency said. Address real estate agency executive director Katya Tsenova said that the property prices raised by 15 per cent in 2006, reaching 280 000. A number of property owners ...more MIGRATION AND HIGH DEMAND CAUSE PROPERTY PRICE INCREASE IN BULGARIA Mon 22 Jan 2007 High demand and migration processes resulted in a 12.5 per cent increase in the price of real estate in Sofia in 2006 Katya Tsenova, executive director of Address real estate agency said. Prices increased the most in the residential districts of Mladost, Lyulin, Geo Milev, Redouta, Druzhba and the city centre, Focus news agency said. Property in the coastal city of Bourgas registered the lowest increase in ...more NATURA 2000 PROTESTS IN BULGARIA RESULT FROM LACK OF INFORMATION Fri 19 Jan 2007 The execution of Natura 2000 project in Bulgaria will fail if officials and people do not reach agreement, head of the ecological network for Bulgaria and representative of Green Balkans Simeon Marin said. Residents of southwestern Bulgarian towns have long been protesting against the introduction of the environmental network in Bulgaria. People feared that restrictions related to environmental protection will ...more LOT PRICE INCREASE IN BULGARIA GAINS MOMENTUM Thu 18 Jan 2007 The price increase for lots usually happens at a slower pace than the one of other real estate, but in 2006 site prices in Bulgaria increased with almost the same speed as the residential property prices. Increase in the lot prices had an impact on the prices of all other real estate, 24 Chassa daily said. A differentiation in site prices increase had begun in Sofia in 2006. The value of some lots had raised by five to six per cent, ...more FIRST ECOINNOVATION HOTEL CONSTRUCTED IN BULGARIA Wed 17 Jan 2007 The first ecoinnovation hotel in Southeastern Europe will be constructed in the Bulgarian village of Zdravkovets. Hilltop hotel will feature wind mills, local purifying devices and the utilisation of rainwater. A monitoring system will indicate the quantity of electricity produced and consumed at the hotel, Bulgarian news agency BTA reported. Time foundation is among the project executors, foundation ...more NATURA 2000 LIST FOR SOUTHWESTERN BULGARIA TO REMAIN UNCHANGED CHAKUROV Tue 16 Jan 2007 Despite protests of residents from southwestern Bulgarian towns, concerning the inclusion of areas in Natura 2000 European environment network, the list of terrains will remain unchanged, Environment and Water Affairs Minister Djevdet Chakurov said. Residents of Bansko, Razlog and Dobrinishte have been protesting against the inclusion of land in the protected network. Razlog mayor Liuben Tatarski called only ...more ROMANIANS INTERESTED IN BULGARIAS PROPERTY MARKET Mon 15 Jan 2007 Increasing number of Romanian investors show interest in the purchase of lodging or a plot in neighbouring Bulgaria or Hungary. The two countries were most attractive for investment foreign destinations, Romanian daily newspaper Gandul said. Bulgarias Black Sea coastal resorts interested the majority of Romanian and British property investors, Gandul said. Investors purchase mainly villas. The price of ...more NUMBER OF RUSSIANS BUYING PROPERTY IN BULGARIA DOUBLES Wed 10 Jan 2007 The number of Russians seeking property in Bulgaria had doubled in 2006 as compared to the figures for 2005, Address real estate agency executive director Katya Tsenova said. High Russian interest in the Bulgarian property market would continue in 2007, Tsenova said as quoted by Focus news agency. Russians were buying mainly high quality apartments in the Black Sea coastal resorts and in the centres of ...more PROPERTY SEEKERS TO INVEST CAREFULLY IN ROMANIA AND BULGARIA AGENTS Mon 08 Jan 2007 Though Bulgaria and Romania underwent recently a number of positive changes, including EU entry, foreign property seekers needed to invest carefully in the two countries, Assetz reported. Since several years both countries have been seen as property investment hotspots. Prices were going up but agents could not predict if the tendency would continue in the future, the report said. Cultural integration and ...more PROPERTY PRICES IN BULGARIAS SMALLER REGIONS REMAIN UNCHANGED Fri 05 Jan 2007 Several years ago, analysts in Bulgaria found it difficult to believe that property investors will become interested in areas close to Bulgarias bigger cities and will launch a number of projects there. Investors have worked on entire apartment and villa complexes in smaller and less popular regions, 24 Chassa newspaper reported. Significant amount of funds was allocated to such projects. A number of property seekers ...more PROPERTY DEALS WORTH 10 BILLION EURO COMPLETED IN BULGARIA Thu 04 Jan 2007 The actual value of property deals completed in Bulgaria for 2006 is expected to reach between 9.5 and 10 billion euro, National Real Property Association president Orlin Vladikov said. The number of property deals in the country in 2006 would probably be known by midJanuary 2007, he said. According to initial predictions the number of deals will reach 280 000. The figure represents an increase of 22 to 25 ...more RESORTS IN BULGARIA CONTINUE LURING BRITISH PROPERTY SEEKERS Wed 03 Jan 2007 The number of British holidaymakers in Bulgaria would continue to rise after Bulgarias EU accession, property agents said. Bulgarian Land Development BLD paid 3.4 million British pounds for more than 56 000 sq m near Borovets winter resort. BLD planned to construct a complex of villas and apartments on the bigger part of the plot. The area was very popular among Britons, Daily Telegraph said. BLD executive ...more SPANISH COMPANY TO BUILD TOURISM COMPLEX NEAR SOFIA Thu 28 Dec 2006 Spanish company Ferry Group plans to construct a sports and tourism complex near Sofia. The company purchased 881 000 sq m stateowned land in the village of Kutina, Darik Radio reported. Ferri Group paid six million leva for the land. Sofia regional governor Todor Modev said that the project fulfillment would bring another 300 million leva of investment and would create 2 000 work places. The complex will ...more PLOT PRICES HIGHER IN BULGARIAS SOFIA AND VARNA Wed 27 Dec 2006 Intense construction in Sofia led to a deficit in free plots, which in turn affected prices, an imoti.investor.bg report said. As a result of this phenomenon the price of land increased faster than the price of property, the report said. In some Sofia districts like Banishora, Boyana and Lozenets construction plots increased in value by as much as 18 per cent. High investor interest in these districts hiked the prices. ...more BRITISH INTEREST IN BULGARIAS PROPERTY MARKET STILL UNUSUALLY HIGH Tue 26 Dec 2006 Inexpensive property continues attracting British buyers to specific countries in Europe, Macedonian newspaper Vreme reported quoting a BBC report on Bulgaria. Yet, reality was different from the expectations of foreign buyers, the report said. Formerly communist East European countries failed offering major investment return opportunities. A number of investors were not careful enough, which could lead to the ...more PROPERTYWISE ANALYSES BULGARIAS REAL ESTATE MARKET IN ANTICIPATION OF EU ENTRY Fri 22 Dec 2006 The first issue for 2007 of PropertyWise magazine, the specialised Englishlanguage property publication of Sofia Echo Media, will be available for sale starting January 26 2007. As Bulgaria expects to join the EU on January 1 2007, PropertyWise takes a look at the manner union membership will affect the Bulgarian property market. PropertyWise talks with real estate professionals, bankers, developers ...more BRITONS NEGLECT EXPERTS WARNINGS AND BUY PROPERTY IN BULGARIA REPORT Fri 15 Dec 2006 The Bulgarian property market continued luring British, despite agents warnings that exaggerated positive information was being presented, Assetz said. Neil Lewis, head of Property Secrets, said that Bulgarias property market was oversupplied, but British still purchased. As early as 2005 Property Secrets warned investors to avoid investing in Bulgarian coastal and ski resorts, Lewis said. When there is as much ...more LAND MARKET, INDUSTRIAL PROPERTY AND INVESTMENT IN BULGARIA ANALYSED ONLINE Wed 13 Dec 2006 The newest web project of Sofia Echo Media, the website of PropertyWise magazine, is already presenting deeper look at Bulgarias property market online. The website compiles the issue before the last of PropertyWise, the specialised Englishlanguage property magazine, and daily news updates on real estate developments in Bulgaria. Issue 1 of PropertyWise, available since ...more WINTER RESORT IN BULGARIA UNPREPARED FOR SKI SEASON OPENING Tue 12 Dec 2006 Pamporovo winter resort was unprepared for the upcoming ski season 20062007 opening, head of the State Agency for Tourism Mario al Djebouri said. Construction in the resort was still ongoing, it was not cleaned and Chepelare municipality refused issuing a construction ban, al Djebouri said as quoted by Bulgarian National Radio. Al Djebouri took part on December 11 in a forum on the development of tourism in the ...more BULGARIA TO REMOVE LIMITATIONS TO FOREIGNER PROPERTY PURCHASE Fri 08 Dec 2006 The Parliament was considering a move from forbidding foreigners to own property in the country to some special regulations. Changes feature in ownership regulations, discussed on first reading on December 7. Voting on the new laws would take place on December 8, Bulgarian National Radio reported. Such changes were needed because of Bulgarias upcoming EU entry. The country accepted EU requirements ...more SOFIAS RESIDENTIAL PROPERTIES PRICE 20 HIGHER Thu 07 Dec 2006 Property in Sofias residential districts where the demand exceeds the supply had raised by 20 per cent in 2006, imoti.bg data showed. The prices of property in the districts where the demand was lower raised by an average of 9.5 per cent, 24 Chassa daily said. Price increase pace of the different types of lodgings became almost equal. The prices of one bedroom and twobedroom apartments was increasing faster a few ...more CONSTRUCTION IN BULGARIAS BANSKO WINTER RESORT STOPS Wed 06 Dec 2006 Construction work in Bansko during winter season 20062007 will cease after the municipality and representatives of 53 construction companies agreed on the proposal. Starting December 5 2006 digging within the resort should cease and will be allowed only outside its area, Bansko mayor Aleksander Kravarov said. All trucks will pass outside the resort, without disturbing Bansko residents and tourists. The ban on ...more PROPERTYWISES ANALYSES OF BULGARIAS PROPERTY MARKET ALREADY ONLINE Wed 06 Dec 2006 PropertyWise magazine, the Englishlanguage specialised property magazine of Sofia Echo Media, is already available online. Magazine content one issue back, as well as daily news updates on real estate in the country can be found at www.propertywisebulgaria.com. The second issue of the magazine is also offered for sale. Everyone with interest in Bulgarian property investment can learn more about the ...more SNOOKER STAR BUYS HOME IN BULGARIA Thu 30 Nov 2006 Snooker star Willie Thorne was considering the purchase of property in Bulgaria. Thorne had recognised the potential that Bulgaria has as a holiday home location, holidaylettings.co.uk said. He found the ideal property which will serve as a holiday home for him and his five children. Thorne liked a house near Bulgarias coastal city of Varna situated between two golf courses. Thorne said that he was charmed by the ...more PROPERTY DEALS IN BULGARIA TAKE THREE MONTHS TO COMPLETE Thu 23 Nov 2006 The average time needed for a property deal in Bulgaria to be concluded was three months since the moment the property was offered for sale, 24 Chassa daily said. The newspaper quoted international comparative research conducted in 16 European countries by the international company ERA. Completing a property deal took the longest time in Switzerland and Germany, research showed. Property ...more BRITISH PROPERTY SEEKERS SEE BULGARIA AS FOURTH MOST ATTRACTIVE DESTINATION Mon 20 Nov 2006 Bulgaria ranks fourth among the destinations where British prefer to buy property. Increasing number of British looking for a second home abroad preferred places with sunny and warm climate, the Governments Survey of English Housing said as quoted by The Guardian. Over the past 10 years the property British citizens bought abroad increased by 300 per cent, BGNES news agency reported. ...more BULGARIA AND ROMANIA TO MARK HIGHEST EUROPEAN GROWTH IN RETAIL PROPERTY REPORT Fri 17 Nov 2006 Bulgaria and Romania would register the highest growth in newly build retail property by the end of 2007, a real estate company Cushman amp; Wakefield report said. The retail property growth would reach 150 per cent by 2007, the report said as quoted by the Romanian English language daily Nine Oclock. Trade centres covering a total area of 98 000 sq m will be built in Bulgaria by the end of 2007. Once Romania ...more BELGRADE PROPERTY PRICES TO COMPETE WITH SOFIA LEVELS Thu 16 Nov 2006 Serbias property market seemed unattractive until recently, but things were about to change, 24 Chassa daily said. The countrys property market is expected to develop at fast paste, stimulated by Serbias new constitution, allowing foreigners to buy property in the country. Bulgarias luxurious property market was much more developed than the Serbian, 24 Chassa said. Purchasers could buy lodging disposing of all ...more MINISTRY DISCUSSES CONSTRUCTION AND ENVIRONMENT PROTECTION IN BULGARIA Wed 15 Nov 2006 The Environment and Water Affairs Ministry said it will launch public discussion of environment protection and construction within preserved areas. Such talks will be needed after property owners protested against a construction ban in Bulgarias protected coastal areas, imoti.investor.bg reported. Regional environmental inspectorates will carry out talks with all parties interested in the property and ...more ONLY FIVE PER CENT OF COASTAL CONSTRUCTIONS IN BULGAIA ILLEGAL MINISTER Fri 10 Nov 2006 Bulgarian National Assembly will vote on second reading coastal construction regulations. Regional Development and Public Works Deputy Minister Savin Kovachev said that only five per cent of the construction on Bulgarias Black Sea coast was illegal. Ten to 15 per cent of the illegal buildings had already been torn down. Buildings constructed under the old law would not be demolished, Kovachev said ...more 500 000 SQ M OFFICE PROPERTY FOR SALE IN BULGARIA Thu 09 Nov 2006 Nearly 500 000 sq m of office property will be offered for sale on the Bulgarian property market in the coming year or two. This is the total area of the projects that were being launched, Forton International FI consulting company data quoted by 24 Chassa daily showed. FI said that tenants had already applied for 120 000 sq m of office areas. It did not mean though that supply would exceed the demand, because the ...more CONSTRUCTION IN BULGARIAS BANSKO STOPS ON JANUARY 1 2007 Tue 07 Nov 2006 Construction in Bansko winter resort will cease starting January 1 2007, until all urban planning is completed. Afterwards construction would be permitted only in certain areas, Bansko mayor Alexander Kravarov told Darik Radio. Nearly 300 construction permits were issued in Bansko in 2005 and 2006 and a number of additional applications were received, said Kravarov. Currently a sq m of property in Bansko costs 200 euro ...more IRAKLI PROPERTY OWNERS PROTEST IN BULGARIA Fri 03 Nov 2006 Owners of property in the Irakli and Emona coastal regions blocked the BourgasVarna road on November 3 in a protest against a construction ban in the two protected regions. Ecology and Water Affairs Minister Djevdet Chakurov imposed the ban, since the two regions hold some of the last remaining wild beaches in Bulgaria. The ban would remain in force for a period of one year, BGNES news agency reported. Property ...more FOREIGNERS TO BE ABLE TO BUY AND INHERIT PROPERTY IN BULGARIA Thu 02 Nov 2006 The Cabinet decided on November 2 that foreigners in Bulgaria will be able to buy and inherit property in the country. On November 2 the Cabinet approved changes to ownership laws, Focus news agency reported. The decision makes Bulgarias Constitution and the ownership regulations listed there compatible with European norms on the free movement of capital. Foreigners would be able to acquire Bulgarian ...more NEW TENDENCIES IN BULGARIAS VACATION PROPERTY MARKET Wed 01 Nov 2006 New tendencies in the vacation property market in Bulgaria were to be expected, agents said during the Southeast European economic forum that began on October 31. Vacation property demand in the central parts of the country was going to increase, mediapool.bg reported. The demand would be highest in villages known for spa treatment opportunities. Hisarya, Velingrad and Sandanski could soon become new ...more 261 000 PROPERTY DEALS CONCLUDED IN BULGARIA IN 2006 Wed 01 Nov 2006 By the end of the year 261 000 property deals would be concluded in Bulgaria, agents said during a Southeast European economic forum.The number represented a 122 per cent increase compared to figures for 2001, Darik Radio reported. Price increase tendencies would continue until the end of 2006. More dynamic developments were expected on the Bulgarian property market in the coming two years, ...more BRITISH SHOULD BE CAREFUL WHEN INVESTING IN PROPERTY IN BULGARIA AGENTS Mon 30 Oct 2006 Investment in British property offered higher return rates and lower risk than a similar deal concluded in Bulgaria, representatives of the British consultancy agency Assetz said. On Friday October 27 the agency presented research on the property investment opportunities in Bulgaria, Bulgarian news agency BTA reported. In the past months the situation in Bulgaria began to change. The annual credit growth ...more NEW SKI COMPLEX TO BE CONSTRUCTED IN BULGARIA Fri 27 Oct 2006 InvestBulgaria Agency approved a project for the construction of a ski complex in the Pirin Mountain town of Dobrinishte. Dobrinishte Ski received a firstclass investor certificate on October 26. Once a company receives such certificate, it is entitled to state aid for the construction of some infrastructure needed for the project, mediapool.bg reported. The skiing area would be located in the area ...more PROPERTY PRICE INCREASE HIGHEST IN BULGARIAS VARNA AND BOURGAS Wed 25 Oct 2006 Property prices in Bulgaria increased over the summer, data of the National Statistical Institute NSI shows. The increase was highest in the coastal cities of Bourgas and Varna. The price increase in Sofia was gradual, mediapool.bg reported. Real estate sales in Bansko winter resort increased the overall price of property in the Blagoevgrad region by 12.4 per cent, the NSI report said. Apartment purchase in ...more BULGARIAS RESIDENTIAL PROPERTY PRICES INCREASE Mon 23 Oct 2006 Average prices of residential property in Bulgaria rose by 4.6 per cent from July to September 2006, a National Statistical Institute report said.Property was sold for 865 leva a sq m, the reports said as quoted by Darik Radio. The prices were 14 per cent higher than those for the same period in 2005 and 11.3 per cent higher than the prices in the end of 2005. Property in the coastal city of Varna became more expensive ...more BULGARIAS REAL ESTATE EXPO PRESENTS NEW PROJECTS AND LUXURY PROPERTY Mon 23 Oct 2006 The fifth edition of the largest real estate trade show in Bulgaria, Real Estate Expo, took place from October 20 to 22 in Sofia. More than 100 participants presented various opportunities for investment in real estate and information about the property market developments in Bulgaria. Participants also presented investment opportunities in France, Dubai, Italy, Germany, USA and the Caribbean region. ...more BULGARIA COMPILING CADASTRAL MAPS THAT WILL AID PROPERTY MARKET Thu 19 Oct 2006 The lack of cadastral maps was one of the Bulgarian property markets main problems named by foreign investors, Bulgarias 24 Chassa daily said. The existence of complete and correct cadastral maps was an important factor in finalising secure property deals and attracting investors to the property sector, 24 Chassa said. The current process of updating the countrys cadastral maps began in 2000 and by now 33 ...more PROPERTY WORTH EIGHT BILLION EURO SOLD IN BULGARIA IN 2005 Fri 13 Oct 2006 Property to a value of eight billion euro was sold in Bulgaria in 2005, National Real Property Association chairperson Orlin Vladikov said during an international real estate forum in the countrys capital, Sofia.Construction projects in Bulgaria in 2005 were also worth eight billion euro, he said, as quoted by Darik Radio. Trends in property prices would vary in 2007, Vladikov said. Nearly two million sq m of property ...more SALES OF MORTGAGED PROPERTY IN BULGARIA TO INCREASE REPORT Fri 13 Oct 2006 Sales of mortgaged property in Bulgaria would increase in the next two years, according to a representative of Bulgarian real estate company Foros, as quoted by Dnevnik daily said. The property market was growing and the development of mortgage loans would boost an increase in sales of mortgaged property. Currently mortgaged property was offered mainly in Sofia. The risk of buying mortgaged property was ...more BULGARIAS SKI RESORTS EXPAND Thu 12 Oct 2006 The construction boom that began in Bulgarias resort of Bansko a few years ago is rapidly being matched by that in the other two main Bulgarian ski resorts, Borovets and Pamporovo, according to an article in Bulgarianlanguage daily 24 Chassa. The increase in prices had attracted an increasing number of investors. The municipalities willingly issued permits but the resorts were becoming oversaturated.Samokov ...more FOREIGN MEDIA WARNINGS ON BULGARIAS PROPERTY MARKET Thu 12 Oct 2006 The warnings towards purchasers of property in Bulgaria become more frequent in foreign media, Dnevnik daily said. A number of articles about investment risks and overestimating financial returns from Bulgarian property had been published in British newspapers, Dnevnik said. The property sector was connected to organised crime, some articles said. An article in The Independent said that in many Eastern ...more PROPERTY PRICES RISE IN BULGARIAS BLAGOEVGRAD Tue 10 Oct 2006 Property prices in Bulgarias town of Blagoevgrad rose by 15 per cent in the past two months, Darik Radio reported. Blagoevgrad is in southwestern Bulgaria at the foot of the Rila and Pirin mountains. The town is 54 km west of Bansko resort.The prices of property under construction was 450 leva sq m until recently. Currently prices reached 500 to 550 euro sq m, Darik said.Builders said that the rise in the prices was due to ...more PROPERTY INVESTORS INTERESTED IN BULGARIAS SMALL TOWNS Thu 05 Oct 2006 The number of property investors interested in carrying out projects in Bulgarias small towns is growing, according to Bulgarianlanguage daily 24 Chassa. The newspaper said that major property contractors in Bulgaria had accumulated capital in recent years, and most had decided to reinvest it in smaller towns. Still, the main share in the smalltown property market was held by local contractors making their first ...more PROPERTY PRICES IN BULGARIAS SMALL TOWNS INCREASE Mon 02 Oct 2006 Prices of property in Bulgarias small towns and regions with population of less than 100 000 people were increasing, a National Real Property Association NRPA representative told Darik Radio. Prices of agriculture plots would continue rising in the coming years, the NRPA representative said. Currently prices averaged 100 leva a 1000 sq m. The rise in the land price resulted from Bulgarias expected EU accession ...more NO MORE CHEAP PROPERTY FOR SALE IN BULGARIA Thu 28 Sep 2006 Buying cheap property, even in Bulgarias small villages, was becoming increasingly difficult, Bulgarian daily newspaper 24 Chassa reported.Even if village houses were to be found, prices were no longer as low as in the recent past. In the past five years property prices in Bulgaria increased fast, 24 Chassa reported. The process affected village property the latest. Increased investor interested in village property, ...more PROPERTY PRICES IN BULGARIA TO CONTINUE INCREASING GRADUALLY Wed 27 Sep 2006 Property prices in Bulgaria would continue increasing, though the percentages would be lower than the ones registered for 2004 and 2005, head of the National Real Property Association NRPA Orlin Vladikov said. Prices would depend on the quality of construction work, location and nearby infrastructure, Bulgarian news agency BTA reported. Only luxurious property in Bulgaria could reach the price levels ...more PROPERTY FORUM TO TAKE PLACE IN BULGARIAS CAPITAL Wed 27 Sep 2006 From October 12 to 14 Sofia would host the biggest European property forum for the year, the European congress of the International Real Estate Federation FIABCI and the Central European Real Estate Associations Network CEREAN. Topics that would be discussed during the forum include the property market in Europe and its main trends until 2010, Bulgarian news agency BTA reported. Participants would also ...