Overseas Property 'eyed By Britons' 14/03/2008
Increasing numbers of Britons are eyeing up property investment opportunities abroad as they look to indulge in some cheaper, sunnier, stress-free living. Research conducted by Foreign Currency Direct shows that ten million UK people are looking to buy a property in another country, such as Spain, in the next year and four million of these would like to live in their overseas home permanently. Some 14 per cent of those looking to purchase abroad were first-time buyers, suggesting that high prices in the UK are encouraging them to look elsewhere. In addition, 33 per cent of respondents said crime levels at home would prompt them to move abroad for good and 31 per cent said they would do so to escape the gloomy British weather. "Buying property overseas is still an excellent... more

Hotels At Bulgarias Black Sea Coast Left Unsold 10/03/2008
Investors in Bulgaria’s coastal regions are failing to find buyers for their newly-built hotels. Nearly 30 new hotels were offered for sale over the past year, 24 Chassa daily reported. Only 250 hotels were on sale in southern coastal regions. The hotels are being sold in all stages of construction. The average price is 856 euro a sq m. Most of the hotels for sale were in the resorts of Sveti Vlas (St Vlas), Slunchev Bryag (Sunny Beach) and Chernomorets. Experts said that there was a lack of buyers in these resorts, because the most tourists there were foreigners, who preferred buying apartments in complexes, instead of staying in hotels. The biggest demand for hotels was in Slunchev Bryag, Nessebar and Primorsko, 24 Chassa said. To the north, the highest supply... more

Black Sea | Property Markets 18/03/2008
Black Sea: Property Markets Albania Albania has been highlighted as a market to watch as growth of foreign property investment increases in the Eastern European bloc, where discerning investors are on the constant lookout for the next hot market. Albania has been mentioned, as massive EU investment is being made into the country in preparation for its accession to the European Union in 2014, reassuring investors considering the market to include into their property portfolio.   Bulgaria The Bulgarian property market is showing signs to be at an ideal stage of the emerging market property cycle for investment, where the initial stages of development, characterised by high risk and profitability, may have passed, but moving into a period associated with greatest growth.... more

Kozloduy Nuclear Power Plant To Build Villa Community 11/04/2008
Kozloduy nuclear power plant will build a villa community in the Black Sea village of Kranevo, Dnevnik daily reported on April 9. The company already called a public procurement to design and build the community. The new development, to be built next to an existing vacation complex owned by the nuclear power plant, will be carried out in three phases. Eligible candidates can be both Bulgarian and foreign companies, which are members of Bulgaria's engineers and architects chamber. The companies must prove that they are financially sound and have the necessary staff to perform the tender, Dnevnik said. The participation guarantee is 20 000 leva or five per cent of the project's value. The deadline to submit bids is May 7, with offers to be opened on May 9. The villa community... more

Sparkassen Plans 300m Euro In New Investments In Bulgaria 13/06/2008
Sparkassen Immobilien, the real estate arm of Austria’s Erste Bank, plans to invest up to 300 million euro in Bulgaria over the next two to three years, Friedrich Wahernig, member of Sparkassen Immobilien board of directors said on June 11. Its focus in the medium-term would be office and retail space. Additionally, Sparkassen Immobilien has remained keen on financing real estate projects in the region, Wahernig said. The company plans to divest of real estate investments in Western Europe and invest in Eastern Europe, Bulgaria included. The company has remained the leader on Bulgaria’s real estate leasing market with a market share of 36 per cent as of end-2007, Immorent Bulgaria, which represents Sparkassen Immobilien in Bulgaria, said in a June 10 statement. In 2007, the company... more