Vacation Property Supply In Bulgarias Winter Resorts Increases Four Times 13/03/2008
The supply of vacation property in Bulgarian winter resorts increased nearly four times within the past 18 months, Colliers International market research showed. From June 2006 to December 2006 vacation property offering increased by 50 per cent and the current number of offered properties is nearly 18 000, Bulgarian National Radio reported. Nearly two thirds of the vacation property for sale can be found in Bansko. High property prices in the resort are expected to influence the supply, which will possibly move to Borovets and Pamporovo, research showed. Vacation property offers at the seaside increased sufficiently in number, registering a 53 per cent increase for the period, Colliers said. One third of total property supply in summer resorts is in Sunny Beach, where... more

Regulations For Municipal Property Swaps Revised 15/03/2008
Legal changes will limit the swapping of municipal for private property, it emerged after  parliament adopted three bills of amendments to the Municipal Property Act on first reading. Swaps will be done only on the initiative of municipalities for the purpose of implementing infrastructural or investment projects. According to the second bill, municipal property will be sold only by public auction, except when property is liquidated. The change of ownership from public to private or vice versa will have to be approved by two-thirds of the municipal advisers. Currently, only a simple majority is required. The third amendment is aimed at preventing the delay of expropriation of property when the owner contests the price in court. more

Bulgarias Ski Resorts Expand 09/03/2008
The construction boom that began in Bulgaria’s resort of Bansko a few years ago is rapidly being matched by that in the other two main Bulgarian ski resorts, Borovets and Pamporovo, according to an article in Bulgarian-language daily 24 Chassa. The increase in prices had attracted an increasing number of investors. The municipalities “willingly” issued permits but the resorts were becoming over-saturated. Samokov municipality had issued 18 permits for the construction of hotels and villa complexes in Borovets ski resort, 24 Chassa said. Some of the property already had been sold before it was even built, 24 Chassa said. Samokov municipality would invest nine million leva in infrastructure at Borovets. Construction of new lifts would probably begin in the autumn, the article... more

Greekcontrolled Fia Bulgaria Extends The Period For This Capital Raise 14/03/2008
FIA Bulgaria decided to extend the period for its capital increase until March 24, Dnevnik Daily reports. FIA Bulgaria offers investors 525 000 shares at a face value of one lev and issue price of 9.31 leva a share. If the whole emission is subscribed, the company's capital will reach 1.225 million leva, and the acquired funds will be close to 4.9 million leva. This has been the second case of a company extending the period of its capital increase on the BSE (Bulgarian Stock Exchange) since the beginning of the year, following Mekom’s decision in January to do likewise. more

Eu Entry Turns Bulgarias Resorts Into Hot Property Areas 12/03/2008
After Bulgaria’s EU accession the country became more than an attractive destination for holidaymakers. In addition it attracted an increasing number of foreigners keen on buying property, Deutsche Presse-Agentur (DPA) reported. Holiday homes worth from 400 to 2000 euro per sq m were ‘very attractive’ for foreign purchasers, DPA said. Some apartments located near the beach or ski lifts reached prices unseen before Bulgaria’s EU accession on January 1 2007. The prices went up by nearly 30 per cent just in the year before the country’s EU entry. A number of foreigners had already purchased property in Bulgaria some years ago only to sell it and make profit, DPA said. Others bought houses with gardens planning to settle in the country. Entire English villages, where all the... more