Residential Property Prices In Bulgarias Capital Up By 5.47 Per Cent In June 2007 12/03/2008
Residential property prices in Sofia have increased by 5.47 per cent in June 2007 compared to figures for May, reaching 820 euro per sq m, Foros real estate agency brokers said. This is the average price for all types of accommodation including panel apartments and new construction, investor.bg reported. The largest price hike was registered in the residential district of Dianabad, 9.29 per cent where prices reached 843.33 euro per sq m. The average price hike in Krasna Polyana was 8.85 per cent, and the price increase in Hipodrouma was 8.15 per cent. The Residential districts of Izgrev and Mladost-3 registered the lowest price hike of 0.7 per cent and 2.62 per cent respectively. The prices in Izgrev reached 956.67 euro per sq m and in Mladost 653.33 euro per sq m. Lozenets... more

Uncertain Times For Bulgarian Property Investment 18/03/2008
A great weight of data has been released relating to the Bulgarian economy recently and it has been being analysed by financial experts; the resultant data coupled with opinion leaves quite a confusing picture in the minds of many would-be property investors about whether now is an uncertain time to commit to the property market in Bulgaria or not.  There are those who are staunchly defending the robustness of the economy, those who are claiming overseas investors are backing away from Bulgaria and then there appears to be a fiscal landscape that could go either way. We’ve been attempting to sift the facts from the opinions to present a clearer picture to you of what’s going on in Bulgaria - and to be honest, we see uncertain times ahead for Bulgarian property investment.  In 2007... more

Bulgarian Property Market Turnover In 2007 Reached 11bn Euro 10/03/2008
Property market was the absolute economic leader for Bulgaria's economy in 2007 with a record-breaking turnover of 11.36 billion euro, Yavlena real estate agency data showed. The sum was the total value of deals with land and buildings in the country over the period. In 2006, turnover in the sector was close to nine billion euro, Pari daily said. According to experts, the increase in the number of property deals and in the property prices was the most accurate measure for the real estate market situation. Yavlena said they expected price increase of 35 per cent for 2007 in residential properties. By September 2007, it had reached 32 per cent. Company manager Strahil Ivanov said the pace of price increase was twice faster than in 2006, thanks to a good mortgage market,... more

The Directorate For National Construction Supervision Examined 9 919 Sites In 2007 14/03/2008
The Directorate for National Construction Supervision (DNCS) checked 9 919 building sites in 2007, examining the legitimacy of ongoing works, the availability of building permits as well as construction and habitation certificates, according to the DNCS’s annual report, cited by investor.bg. The Directorate issued a total of 2 472 acts, certifying contraventions of the Spatial Development Act. Subsequent legal proceedings have already been launched, the report said. The total number of complaints and alerts, submitted to DNCS last year, totalled 75 052, 18 083 of which were submitted with the central department and 56 969 with the regional arms. The report says that 114 administrative legal proceedings against 76 chief architects and other municipal authorities have started - in... more

The Rise And Rise Of Bulgarian Property 20/03/2008
Anyone who has bought property in Bulgaria will tell you that the prices are so low, it is impossible to lose. Prices will continue to rise. The only uncertainty is by how much. And how long. The Balkan country already has had 12 years of increases. And the National Statistical Institute reported in January that the average sales price per square meter for residential properties in Bulgarian cities had gone up 36.6 percent in the previous year. But residential prices in Sofia still average only EUR 600, or USD717, per square meter, or USD66 per square foot. That is much less than the EUR 750 average per square meter in Bratislava, Slovakia; EUR 850 in Bucharest and EUR 1,500 in Prague, according to the National Real Property Association of Bulgaria. Those numbers have pushed Bulgaria... more