British Interest In Bulgarias Property Market Still Unusually High 14/03/2008
Inexpensive property continues attracting British buyers to specific countries in Europe, Macedonian newspaper Vreme reported quoting a BBC report on Bulgaria. Yet, reality was different from the expectations of foreign buyers, the report said. Formerly communist East European countries failed offering major investment return opportunities. A number of investors were not careful enough, which could lead to the loss of significant amounts of money, Vreme reported. While Britain was planning to introduce labour market restrictions for Bulgarian and Romanian workers upon the EU entry of the two countries, British buyers were increasingly attracted by Bulgarian property. British bakers predicted that a quarter of all mortgages taken by 2020 will be needed for the purchase of... more

High Prices And High Expectations 17/04/2008
The high prices of land mixed with high expectations of local entrepreneurs were the main problems of  Bulgaria's residential property market. Pablo Rodrнguez-Losada general manager of Spanish developer Martinsa-Fadesa said on April 16 2008 as quoted by Dnevnik daily. He attended the second regional conference Balkan Real Estate Conference (BalREc) held in Sofia on April 15/16 2008. “The only way to beat this is to have clear and accurate information provided by municipalities about the legal state of the land” he said. Bulgaria had to avoid Spanish experience where entrepreneurs worked based on their own expectations rather than on the reality of the market. According to Rosen Plevnaliev general manager of Lindner Bulgaria the unreasonably high prices of land and the lack of... more

Average Sale House Price In Bulgaria Reaches 1090 Leva A Sq M 14/03/2008
The average sale price for a sq m of residential property in Bulgaria reached 1090 leva in 2007, a 30 per cent increase on the previous year's 840 leva. The overall price hike of residential properties for the last three years was 300 per cent, Kapital weekly reported.   Despite the price increase, the number of property deals rose by 10 per cent. Real estate agencies told Kapital Weekly the period between an apartment being offered for sale and signing a deal has dropped to less than a month. “All of us expected a price hike in the range from 10 to 15 per cent, but we were wrong,” Mladen Mitov, from Yavlena real estate agency, told Kapital Weekly. Despite the strong dynamics of the business properties market, the residential market remains the country's most active sector.... more

New Tourism Complex To Be Built In Bulgarias Sandanski 12/03/2008
Bulgaria’s tourism investment company Royal Holidays will construct a complex in the town of Sandanski. The complex, called Sun Dance, will be completed by the autumn of 2007, Dnevnik daily said. Its official opening will be held in October 2007. Sun Dance will consist of a four-star hotel and nearly 60 apartments located in 10 houses. The hotel will dispose of six one-bed rooms, 66 two-bed rooms and eight apartments, lobby bar, restaurant, conference centre, night bar, spa centre and casino. Each house will have six apartments, located on two floors, Dnevnik said. The apartments’ area will vary from 63 to 120 sq m. Royal Holidays owns several big touris, complexes, mainly in Bulgaria ’s mountain resorts. more

First Bulgarian Skyscraper To Erect In Bourgas 01/05/2008
The first skyscraper in Bulgaria will be built in ‘Meden Rudnik' district in Bourgas city. The multifunctional complex will be 90 meters high. The project previews 2 underground and 30 overground levels. There will be parking, first 5 floors will be trade surface, covered swimming pool, fitness center, bank salon. The other 25 levels will contain more than 200 apartments. This is the first such project in Bourgas. The complex has to be finished in 2012. more