Parkridge Ready To Build 30m Euro Veliko Turnovo Mall 21/04/2008
Commercial property developer Parkridge wants to build the second mall in the town of Veliko Turnovo and has already held talks with mayor Roumen Rashev on the issue, Dnevnik daily reported on April 21. Parkridge is ready to invest 30 million leva in a multi-purpose commercial project, which would spread on a plot of around 1.5ha, Rashev said, as quoted by Dnevnik. In February, Parkridge founder and chief executive John Cutts was quoted saying that the developer would continue expanding in Eastern Europe, most notably in Bulgaria and Ukraine. In Romania and Russia, the firm would develop industrial areas, he said at the time. Parkridge is already firmly entrenched on one Eastern European market, namely Poland, where it has eight retail projects in the works or completed.... more

Overpopulated Resorts In Bulgaria A Setback For Tourists 10/03/2008
The state failed to impose efficient measures to prevent hotel construction growth in Bulgaria's seaside resorts, resulting in a decrease in prices and demand. As the state proved incapable of restricting new construction in the resorts, the private sector found another way of dealing with the problem, starting to explore tourism possibilities in areas away from the large resorts, Capital newspaper said. Hotel owners said that the big resorts like Sunny Beach and Golden Sands no longer have development potential. Although four and five-star hotels are half-empty, investors keep on constructing new ones. With over 200 hotel construction projects in Sunny Beach, most investors now prefer small-sized projects in less constructed and yet unexplored areas of the seaside, Capital... more

Lifestyle Buyers Advised To Rent Out Homes 28/08/2008
People who have bought a second home overseas have been advised to consider the possibility of letting it out to visitors.According to Greg Grant of Holiday-Rentals, many overseas property owners are people who have bought a residence for their own personal use.However, the ongoing economic decline in the UK has meant that a growing number of people have become financially stretched, including those who own a second home abroad.This has prompted Mr Grant to suggest that people ease their financial burdens by using their property to generate money.Speaking to the Telegraph, he commented: "Those who have previously kept their homes to themselves may begin renting out to maximise income in these tighter times."Mr Grant added that the rental yields collected in a single month could cover... more

Bld Fund Buys Another Plot Near Sofia For Residential Complex 26/03/2008
Bulgarian Land Development (BLD) investment fund acquired another 46 673 sq m plot of agricultural land near Sofia for 500 000 euro, although its exact location was not revealed, investor.bg reported on March 25. The plot is located in an area with good potential for the development of a residential compound in Sofia’s suburban areas. BLD wants to consolidating several stretches of agricultural land in the area to a total of about 250 000 sq m. Once the fund has acquired all the necessary land, it plans to change its purpose into plots for residential construction. BLD representatives consider the project very attractive to both holiday property buyers and Sofia residents, because of its enticing location – only a 45-minute car drive from Sofia, the complex will combine the benefits... more

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