Greek Company Buys A 12 Million Euro Plot In Sofia For The First Ikea Unit In Bulgaria 14/03/2008
The Greek group Fourlis has signed a 12.081 million euro preliminary contract for the purchase of a plot in Sofia where it plans to develop the first IKEA hypermarket in the country, investor.bg reported. Negotiations for the land started in November last year, Fourlis officials said, but they refused to give details about its size and location. The Greek holder of the rights for the development of the Swedish furniture chain plans to start construction of the hypermarket later this year. Completion is scheduled for 2009. Prices in the Bulgarian outlet will be lower than those of its Greek counterpart because Fourlis’ policy is to comply with the market situation and the purchasing power (GDP per capita) of the country they are entering, company representatives noted. Fourlis... more

Skiing Brits Find Eastern Property Promise In Bulgaria 19/03/2008
Bulgaria is cementing its lead as an investment property hotspot for skiers and snowboarders looking to own a slice of the slopes. The country's recent accession in the EU, together with the low prices and plentiful property facilitated by the building boom, are leading many British skiers and snowboarders to leapfrog their traditional favourite ski spots in France, Switzerland and Austria, in favour of Bulgaria's more modestly priced mountains. The boom in property development in Bulgaria's best resorts have meant that brand new ski apartments can be snapped up for less than Ј30K. These low prices, combined with the preventive costs of getting on to the British property ladder, means that many young buyers are choosing Bulgaria for either investment property, a holiday... more

Lighthouse Golf Resort To Open May 2009 08/09/2008
Lighthouse Golf Resort, the 70 million euro complex being built near Balchik on Bulgaria's northeastern Black Sea coast, will officially open in May 2009. Some 50 million euro of the funds earmarked for the project have already been invested, executive director Georgi Chouklev said at the ceremony inaugurating the golf course.Ian Woosnam, the Welsh golf pro who designed the course, is expected to attend the official opening of the complex.The complex, whose full name is Lighthouse Golf Resort & Spa, will have 1000 housing units, of which some 600 are still under construction and 350 have already been sold to buyers of various nationalities.The five-star 180-room hotel part will feature retail space, bars and restaurants, a spa and wellness centre, a tennis court and swimming pools. The... more

Property Market Developments In Bulgaria Unpredictable In First Half Of 2007 12/03/2008
Predictions made for property market developments in the first half of the year failed coming true. The market saw dynamic developments and turned to be one of the fastest evolving segments. Price hike went beyond expectations, making agents unable to predict future growth. In the first half of the year, one and two-bedroom apartments registered the biggest price increase, investor.bg reported.   The growth, however, is specific for each district and average estimations cannot be made. New construction is responsible for the varying trends, especially in Sofia. If a district sees a number of new two-bedroom apartments, owners of older such property try to sell it at prices similar to the ones for newly built apartments. Bulgaria’s bigger cities saw residential property price... more

How Should I Purchase My Property 10/05/2008
There are a number of ways of financing a property purchase abroad. The dilemma is which way do you go? Cash? Financing from the UK? Bulgarian based finance? Buying in cash would be the most straight forward approach however, for those who are looking to purchase multiple properties or would like their investment to stretch further, gearing up your investment using UK/Bulgarian finance would be an option. By gearing up your investment you would use a chosen bank’s money, together with your own capital to purchase the property and as such can make a greater return on your own funds than if the entire purchase was funded by personal capital. An accountant may also be able to offset rental income against a mortgage as well as management and insurance costs. The bank’s own due diligence... more