The Changing Face Of European Property Investment 20/03/2008
With property investment television programmes dominating the listings, it is inevitable that real estate is beginning to attract more and more potential investors. Most of these programmes are also becoming increasingly adventurous in terms of the places they cover, which is having a direct result on the investment patterns of UK residents. In a report for Antara News, for instance, journalist David Burrows says that many investors are beginning to turn away from France and Spain in search of better value. He suggests that Bulgaria is a prime example, in that prices in the country are still exceptionally low but experts are predicting something of a boom before long. "The EU may be balking at Bulgaria's failure to rein in organised crime but second-home hunters seem to have no... more

Israeli Electra To Develop Residential Scheme In Varna 01/04/2008
Israeli real estate developer Electra Group has started construction on its first Bulgarian project – a gated residential community in Varna, to be named Botanic VIP Residence, the company’s sales manager Petar Petrov told Dnevnik daily on March 30. The complex, in immediate proximity to Varna botanical gardens, will cover 1.2 ha of land and will comprise seven buildings, with a total of 216 apartments. According to Israeli media, Electra acquired the plot with the ready project in 2006 at the price of 4.56 million euro. The expected profit after selling the apartments is expected to reach 80 million euro. Three of the apartment blocks are scheduled for completion by the end of the year. Off-plan prices start at 1 350-1 500 euro a sq m. Electra’s pipeline includes another three... more

Masterbuild To Construct Villa Communities Near Pomorie 27/03/2008
The Bourgas-based building company Masterbuild Ltd will develop holiday complexes in the village of Kableshkovo and Medovo near Pomorie, company representatives said, as quoted by Dnevnik daily. The Medovo holiday community will cover a 100 000 sq m plot, embracing 64 residential buildings with housing units ranging from 95 to 214 sq m in size. The gross actual area of the compound is calculated at 16 500 sq m. Masterbuild representatives said that work on the Medovo compound should start in late March, once financing and planning approval issues are settled. Completion is expected by the end of 2010. The company also plans to construct the Golf Village complex near Kableshkovo, an area where a golf resort development is planned. The development in question is the notorious Black Sea... more

Bulgaria And Romania To Mark Highest European Growth In Retail Property Report 12/03/2008
Bulgaria and Romania would register the highest growth in newly build retail property by the end of 2007, a real estate company Cushman & Wakefield report said. The retail property growth would reach 150 per cent by 2007, the report said as quoted by the Romanian English language daily Nine O'clock. Trade centres covering a total area of 98 000 sq m will be built in Bulgaria by the end of 2007. Once Romania enters the European Union, it will become the second biggest retail property market in Central and Eastern Europe after Poland. Romania plans to construct trade centres of total area of 560 000 sq m. The countries from Central and Eastern Europe would register the highest growth in retail property supply, the report said. more

Bulgarian Tourism Industry: No Avoiding The Tough Reality-check 10/07/2008
Sofia.  Decline in bookings on key markets, understaffing, poor value for money. These are some of the factors that will make life difficult for may local hotel owners and even whole resorts this summer, the English online edition of the Dnevnik Daily reported. The industry is bracing for flat tourist arrival figures in 2008 after half a decade of double-digit growth. It will be a mixed bag, said Valentin Yosifov, the local TUI representative. 'The season will be good for those that got right their pricing and marketing strategy while those that didn't will suffer.' This view was shared by several hotel owners. Elena Ivanova, chairperson of the association of property owners in the Sunny Beach resort, said the hotels in the center of the resort were fully booked. Vladimir Demirev,... more