High House Prices Drive Ftbs Overseas 27/03/2008
High house prices and economic problems in the UK are leading to many first-time buyers (FTBs) looking abroad, a study has found. Fair Investment Company revealed that nearly one in ten FTBs have already bought their first property overseas, while 44 per cent of thinking of doing so. The firm highlighted a number of reasons for people choosing to look away from home, such as the impact of the credit crunch on the British housing market. However, issues including the availability of property in the UK and the effect this has had on prices were flagged up as other factors behind this trend. James Caldwell, director of Fair Investment Company, commented: "Overseas they can sometimes find cheaper property prices and a lower cost of living." He added that this could make a first home... more

Court To Decide On Construction In Bulgarias Strandzha Preserve 13/03/2008
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, Tsarevo municipality decided to address the ban in court, Darik Radio reported. If court decides to favour the litigations, the decision could either be appealed or Environment and Water Affairs Minister Djevdet Chakurov could issue a new document to confirm the preserve status of the Strandzha area. The ban hinders the work of Crash 2000. Its complex Golden Pearl could end up demolished... more

Drop In Fdi In Local Building Sector Foreseen 18/03/2008
Foreign investments in the sphere of real estates and construction will decrease, the chairman of Bulgarian Chamber of Commerce Bojidar Danev prognosticates. A panting of local property market exists already, he said. According the Chamber's data there are 20,000 unsold apartments, and on the seaside the number is 200,000. For those apartments exist obligations and if they are nit sold we may expect series of bankrupts. Danev also commented that speculative trade with real estates hides actual threat for the state's economy. For avoiding the building collapse the Chamber's chairperson suggested to be made an attempt for the business to go ‘on the daylight'. Equalization of tax values with the market ones and parallel decrease of the tax stake, analysis of the... more

Sales Of Mortgaged Property In Bulgaria To Increase Report 10/03/2008
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 low because the price of such property was 10 to 15 per cent below market prices, Dnevnik said. The mortgaged property offered for sale was most often newly-built or brick property in the central part of the city that had to be paid for in two or three years.   National Real Property Association chairman Orlin Vladikov said that the development of the mortgaged property... more

Bulgarias Capital Offers Better Investment Prospects Than Seaside 12/03/2008
Sofia could offer much more opportunities for investing in property than the seaside according to an expert. Those hoping to generate money from investing in Bulgaria should ignore the coast as it was less lucrative, and focus on Bulgaria's capital, Simon Tweddle, chief analyst at Property Secrets said, as quoted by propertyshowrooms.com. Seaside resorts depended on seasonal factors including tourist visits and the weather, Tweddle said. Many coastal regions had an excess of property currently available on the market. ''If you invest in the city you've got more than two million people who can potentially rent your property from you", Tweddle said. Bulgaria is attractive to business investors largely due to its stable political, economic and social climate. It has... more