Plans For Underground Parking Lot Construction In Sofia 07/03/2008
Sofia municipality is planning to offer on concession the terrain below National Assembly Square. The terrain would be used for the construction of an underground parking lot, mediapool.bg reported. According to plan the plot would be given to a concessionaire for a 35-year period. A two-level parking lot would be constructed. Its capacity would be 203 vehicles. The potential investor would use own funds for the construction. The timeframe for completion of the construction works should not exceed two years.  Preliminary financial analysis shows the concessionaire would have to invest at least six million leva in the project. Analysts said that through parking fees, the investor would be able to return the initial investment in three years. A number of city councilors... more

Funds Rush Into Bulgarian Property Placing 19/03/2008
Top fund managers have piled into Bulgarian Property Developments (BPD) in a share placing to raise Ј75 million to develop several property sites in Bulgaria. New Star’s Paul Craig is one manager who has taken advantage of the share issue, taking a new 3.76% stake in his New Star Global Strategic Capital fund (New Star Global Strategic Capital). He has also taken a 2.51% position in his New Star UK Strategic Capital Growth fund (New Star UK Strategic Capital). Craig’s colleague, AAA-rated Guy de Blonay, is also a fan of BPD (BPD) taking a fresh stake in the firm worth 1.38% for his New Star Global Financials fund (New Star Global Financial Ret). New Star controls 10% of the Ј43 million company in total. Another retail fund with a new stake is Aurora investment trust (ARR), run by... more

Archaelogists Found The Remains Of A Castle In Veliko Tarnovo 17/11/2008
Konstantin Totev's team of archaeologists dug up the foundations of a building under Trapesitsa Hill considered to be "the first Asen dynasty castle - that of Asen, Teodor and Kaloyan" in Bozhidar Dimitrov's (director of the National History Museum in Bulgaria) words.The building is situated in the northern part of the temple on steep rocks which guarded the Arbanassi road in the past. Its walls seem to have been extremely wide - 4, 5 m., having in mind that the usual Mediaeval walls width was 2, 2 m.According to Dimitrov, the castle is very well preserved and there are living areas, storages, shops, a church and a barrack in it.Restoration is necessary, however, as some of the stones from the structure look unstable. more

Bulgaria Tops Property Investment Hotspots 20/03/2008
The latest Property Investment Tracker from Assetz has found that Bulgaria is leading the way as an overseas hotspot. While experts have been predicting for a number of years that Bulgaria will emerge as a leading choice for investors, Stuart Law, managing director of Assetz, has indicated that the new research firmly positions the country at the top of the chart. With yields rising to 12 per cent and capital gains remaining impressive at 36 per cent, it is thought the total return on cash invested was 116 per cent last year. This phenomenal statistic has pushed Bulgaria above Cyprus in the chart for total returns on cash invested, backing up the popular claim that Bulgaria is now comparable to Spain in the 1980s. For those looking for capital gains and those entering into the... more

Housing Prices Increase By 32% Per Year In Bulgaria 16/09/2008
On a yearly basis housing in Bulgaria increases by 32%. Because of this the investment in a Bulgarian home is more profitable than an investment in financial assets.This is the result of a report by Industry Watch named "The housing market in Bulgaria for the third quarter of 2008".The price gap between housing in Bulgaria and most of the European countries is decreasing. There is still a minimal penetration of mortgage credit in the Bulgarian economy - 12% compared to 39% for the European zone. more