Property Price Increase Tendency Still Valid In Bulgaria 07/03/2008
Though Bulgaria offers cheap property, real estate prices in the country are constantly on the rise, a lengthy article of the International Herald Tribune reads. The author tries to predict whether the trend will continue in the future. The upward trend for property prices has been valid for the past 12 years. In 2005 a sq m of residential property became 36.6 per cent more expensive, data from the National Statistic Institute shows. Despite the price increases, real estate in Bulgaria remains cheaper than property in Central European countries. A sq m in Sofia sells for 600 euro on the average, compared to the 750 euro in Slovakia's capital or the 850 euro in Bucharest. These lower prices continue attracting Western Europeans interested in property purchase, the IHT... more

Bulgarias Eu Accession Raises Property Investment Questions 07/03/2008
Bulgaria’s questionable EU future causes concern over the future of the country’s property market, Assetz reported. The property market experienced growth since EU membership talks began in 2000. Since then, the purchase of property in Bulgaria became increasingly popular investment opportunity. Interest toward property both in the capital of Sofia and in seaside and mountain resorts was on the rise. Bansko developed as a leading ski resort, while coastal property is seen as a viable alternative to purchase in countries like Spain, Assetz reported. The interest is not expected to disappear suddenly but some problems might occur, the website reported. According to the latest European Commission report Bulgaria still has to make progress in various areas for on-time membership in... more

British Entrepreneur Mulls Construction Of Eight Malls In Bulgaria 10/03/2008
John Cutts, the founder and chief executive of commercial property developer Parkridge, is continuing his expansion into East Europe, the Financial Times reported on February 27. Although the his initial plans envisaged expansion to Poland, given its key location, he also saw good opportunities for investment in retail compounds in Bulgaria and Ukraine. Seven retail centres have been erected in Warsaw since Parkridge set foot on the Polish market, which means that it might be over-supplied soon, the developer said. He added that the Czech Republic used to offer good potential, but it faced a similar problem of reaching its capacity for absorbing commercial establishments. Cutts’ strategy now is to focus on smaller cities, with a population of 100 000 to 200 000 people, where... more

Investors To Develop Northern Part Of Bulgarias Capital City 11/03/2008
Big infrastructure projects, including a new underground railway line, are to turn Sofia’s northern part into an attractive area for business and living. Large parks, sports and entertainment, residential developments, as well as production and logistic facilities would be constructed in the region in the next seven or eight years, Pari daily reported. “Investors are already realising the potential of the northern quarter and starting to buy land there,” Pari said. Sofia chief architect Petar Dikov said that unlike the southern part of the city, which was seeing rapid development, the northern regions needed “a long-term investment.” Investors could expect revenue in at least six years, he said. The new underground line, which will connect the northern residential... more

Sofia Will Have Second Sofia Land 20/03/2008
Sofia mayor Boyko Borissov and the head of the State Agency for Youth and Sports (SAYS) Vessela Lecheva discussed the construction of new amusement and sports complexes in Sofia, Bulgarian language daily Standart reported on March 20. A new amusement park, similar to the former Sofialand, will open  doors near Sofia’s Zapaden Park (West park), the capital’s chief architect Petar Dikov told Standart daily. Sofia city hall will invite a concession for the garden near Zapaden Park in the coming months. The place is very appropriate for a new amusement park, because there is no car traffic nearby, Dikov commented. However, he admitted that no one has expressed an interest in the project so far, but he was positive that candidates would soon appear. Ilinden regional mayor Roumyana... more