Business Property Developments In Bulgaria Behind Central European Levels 11/03/2008
Business park developments in Bulgaria are three to seven years behind Central European levels, Industry Watch reported. Fast economic growth, EU accession and increase in foreign investment feature among the main factors influencing business park development in Central and Eastern Europe, investor.bg reported. Investor interest in Bulgaria changed its direction from Sofia to other economically developed cities like Plovdiv, Varna and Rousse. Most business parks in Bulgaria act as administrative centres or production terrains. Some major developments include Business Park Sofia, covering 220 000 sq m, Business Park Varna and Business Park Stara Zagora. more

Russian Interest In Bulgarian Property Market Grows - Sophia Echo 11/09/2008
There are times when the "Russian invasion" could be a pleasant surprise. When speaking of investments and buying property in Bulgaria, that is.Russian buyers seem to be the new hope of property developers after the tide of British and Irish clients has begun significantly to subside since last year.According to a survey by Green Life Property Development, as cited by Stroitelstvo Gradut weekly, a steadily increasing number of Russian, Scandinavian and Romanian buyers has come as a satisfying substitute, with Russian-speaking clients making up to 90 per cent of all buyers.The investment company noted that there are two groups of emerging on the Bulgaria's property market. One is of wealthy Russians coming from Moscow and Saint Petersburg, who seek to purchase spacious flats with the... more

Invest Property Reit Sold A Plot In Vratsa For 1.6 Million Leva 14/03/2008
Invest Property REIT sold a property in Vratsa for 1.6 million leva to local company Ben Blick SP Ltd. Invest Property derived a 670 000 leva profit from the deal. The property is a 13 615-sq. m land plot regulated for industrial development. A year earlier Invest Property acquired 39 946 sq m of land in Vratsa's eastern industrial zone for 1.6 million leva. 12 months later the company managed to change the land's status and divide the property into five new plots. One of the new properties was sold to Ben Blick. more

Investors 'should Seek Out Professional Opinion' 30/04/2008
Overseas property investors have been advised to not to rule out seeking professional advice when buying abroad. According to a recent study by Defaqto, more than a quarter of buyers prefer to rely on their own judgement instead of consulting an expert. The research also showed that a similar proportion are likely to favour the advice of a friend or relative, while one in ten would consult their spouse or partner. Commenting on the findings, NuBricks.com urged people to overcome their apparent discomfort with getting a professional opinion. The website commented: "It is important to seek a variety of opinions on your chosen property before committing significant funds to the investment." NuBricks.com added that investors should also bear in mind that many independent... more

Lack Of Secondary Market For Holiday Developments As British Withdraw From Bulgarian Resorts 14/03/2008
British and Irish buyers are withdrawing from the Bulgarian holiday market. And Russians and Scandinavians are likely to replace them, said Martin Gikov, Real Estate Management Director with UniCredit Bulbank at a news conference about the Bulgarian property sector. Foreigners accounted for about 30 per cent of transactions in residential developments last year. Their share, however, is decreasing for a number of reasons, Gikov commented. Irish and British customers, who have so far formed the core of holiday property buyers, reduced their activity following the global credit squeeze. They've also been deterred by low yields on seaside developments. Traditionally, British and Irish seaside property purchases are driven by speculative purposes. Initially they were tempted by the... more