Bulgarian Property Sector To Post Even Growth In 2008 10/03/2008
Bulgaria ranks third in the world in terms of property price growth in 2007. Average sale real estate prices rose by 36 per cent last year, whereas rentals posted a more modest mark-up of 6 to 7 per cent nationwide, reaching 10 per cent in Sofia, Deyan Kavrukov, head of Bluehouse equity fund and a former partner at Equest, said in an interview with public television channel BNT. The significant increase is propelled by a number of factors:  ** steady domestic demand  ** robust investment growth  ** a rise in mortgage lending, which has been increasing by almost 100 per cent annually over the last years  ** GDP growth  ** considerable foreign demand for local property ”The happy-go-lucky times of striking exorbitant profits out of property deals on Bulgarian market are gone for... more

Turkish Dedeman Hotel Chain Enters Bulgaria 14/03/2008
Turkish hotel chain Dedeman Hotels&Resorts International will take over the management of two Bulgarian hotels, owned by Turkish businessman Sudi Ozkan, Dnevnik daily reported on February 29. The hotel operator has already placed job ads to fill available vacancies in Bulgarian papers. Dedeman will take over the Ozkan hotels - the 200-room Trimontsium Princess in Plovdiv and the 600-room Sofia Princess in the Bulgarian capital, in early March. The Turkish operator intends to invest in upgrading the two hotels which are currently rated at four stars. Dedeman manages a total of 20 urban and resort hotels, most of them in Turkey, but also in Latvia, Cyprus, Moldova and Uzbekistan. The company intends to add some five or six urban and resort hotels to its portfolio in near future. Murat... more

Southern Europe Attracts Retirees 15/04/2008
Older people who wish to spend their retirement abroad are mainly favouring southern European countries, according to an expert. Allan Williams of London Metropolitan University stated that the region is popular because it has a very mild climate, reports Today's Zaman. However, he said retirees also take various other issues into account when deciding where they would like to live, such as the lifestyle, culture and quality of the infrastructure. Mr Williams added that although Spain is currently the most popular destination for older expatriates, property in Turkey is attracting more and more people. He commented: "When we look at 2008 it is easy to say there will be busy migration traffic of the retired and that Turkey will host a considerable amount of this traffic."... more

Sofia Presented For The First Time In Property Investment Fair 14/03/2008
Sofia municipality will be presented as an investment destination during the first international specialised property fair Real Vienna. The fair starts on May 31. It would focus on investment opportunities in Souteast European countries and on new market tendencies, Bulgarian National Radio reported. Property seekers are interested in opportunities in Eastern European destinations like Bulgaria, Russia and Ukraine, analysts said. Other European capitals to be presented during the fair include Bucharest, Bratislava, Belgrade, Moscow and Vienna. Over 300 investors, property funds, banks and consultancy agencies will take part in Real Vienna. Sofia municipality takes part in such investment forum for the first time. Its  participation in Real Vienna is part of the new... more

Budget Flights To Bulgaria 19/03/2008
Budget carriers increase flights to Bulgaria Low cost carrier Wizz Air have new destinations to and from Bulgaria with its summer flight timetable. Started in June, Wizz Air fly from Bulgarian coastal city Burgas to Budapest, Katowice and Warsaw. Flights to Budapest are available from another Bulgarian coastal city, Varna. At the moment, Wizz Air flies only to London from Burgas, a route serviced by rivals Bulgaria Air, Hemus Air and British Airways. Budget carrier Sky Europe recently said it was launching a Mon-Sat Sofia-Vienna route. Sky Europe marketing and sales director Krasimir Tanev expects the share of no-frills carriers of Bulgaria's aviation market to increase from 7-8% at present to 20% by the end of 2007. Ryan Air is expected to open this year routes from Plovdiv,... more