Bulgaria's Property Market Could Go Either Way 09/06/2008
In Spain you have properties that are being slashed in price, in the UK you have a real estate market that is stagnating, in Northern Cyprus you have a market that has stagnated for so long that it is actually doing quite well thanks to its genuine bargain status, and then you have Bulgaria’s property market that could go either way – i.e., up or down. There are robust fundamentals supporting a residential and commercial property market that bode well for long-term strength in Bulgaria – but there are also some serious and significant flaws in Bulgaria’s property market that could undermine it catastrophically and for the long-term.  Here’s what we think… Bulgaria has a good little tourism industry.  It is built on a number of positive factors – the nation is easily and affordably... more

Real Estate Projects In Bulgaria Presented During International Expo 11/03/2008
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 near the coastal towns of Kavarna and Balchik. The project envisions the construction of 500 luxurious family houses, hotels, sports facilities and the setting up of 75 000 sq m of alleys and streets. Costa del Croco holiday resort project features the construction of 900 apartments near Tsarevo. The complex will include a hotel, a casino, a... more

Scottish Company Buys Mall In Bulgarias Coastal Varna 12/03/2008
Scottish company Miller Developments purchased Mall Varna for 120 million euro, consultancy company Forton International reported. The sales negotiations lasted more than a year and involved consultants from Forton and Cushman&Wakefield, investor.bg reported. The construction of the mall itself was launched a bit earlier by the investor Interservice Uzunovi. Gross built-up area of Mall Varna was 70 000 sq m. Nearly half of the mall’s area, 32 000 sq m would be offered for rent. The mall should be opened within half a year. Pavlina Nikova, Forton manager for the project, said that there were already tenants for 26 000 sq m of the area to be rented. The mall would have a cinema, supermarket, bowling, bookstore and 10 restaurants, she said. Miller Group is the biggest private... more

British Investors Advised To Look Abroad 04/04/2008
Property investors from the UK have been advised to look overseas if they wish to collect good returns. Homes Worldwide recommended that Britons avoid the domestic market as mortgage rates are rising while house prices are falling. The website has suggested that investing on the other side of the English Channel could be a more lucrative move, as the French market is currently experiencing growth. According to the website, house prices in France went up by four per cent last year, while their values are about a third cheaper than the UK. This means that investors could collect the proceeds of capital growth in a relatively cheap market. Furthermore, Homes Worldwide believes that France is holding firm in the face of global economic problems. The website said: "The market does not... more

Plovdiv Property Prices To Add 15 Per Cent In 2008 14/03/2008
The city of Plovdiv now occupies second place in terms of the number of property deals, according to a chart compiled by the Varna-based Foros real estate agency. The number of transactions in Bulgaria's second largest city reached 20 000, versus 18 000 in Varna, where the market is considered much more dynamic and the number of deals is usually above the country's average. The combined area of transacted properties in Plovdiv topped 100 000 sq m. That figure is expected to double in 2008, Dnevnik daily reported on March 14. Plovdiv also outpaced all other big cities in terms of downtown property prices with a 61 per cent increase last year, according to Foros' report. Rent rates in the city rose 18 per cent on average versus five per cent for Sofia and Varna. Foros... more