Bulgarian Defence Ministry Halts Property Swops - Sophia Echo 30/04/2008
Bulgaria’s recently-appointed Defence Minister Nikolai Tsonev has ordered a halt to the practice of swopping real estate owned by the ministry, an April 29 2008 media statement said. The ministry's website said that the ministry would investigate the status of all the ministry’s structures and real estate owned by them. Tsonev succeeded Vesselin Bliznakov on April 22 2008. Bulgarian-language media said at the time that one reason that Bliznakov was dismissed was alleged lack of transparency in transactions involving defence ministry real estate. Prime Minister  Sergei Stanishev gave no reason in public why Bliznakov was replaced, but media reports in the past 18 months have given an unfavourable impression of Bliznakov and the swop deals. The reason appears simple: compared to... more

Low-cost Airline Launches New Bulgarian Service 10/07/2008
People in north-west England who own property in Bulgaria are being targeted by low-cost airline easyJet. The budget carrier has confirmed that later this year, it will begin offering passage between Manchester Airport and Sofia. This will help open up the Bulgarian capital to leisure travellers in the north-west, a development which could lead to more people choosing to visit the city. However, easyJet also believes that the route will be useful for many foreign property investors, as Bulgaria is currently a very popular location among this group. The airline commented: "The service to Sofia is ideal for the growing number of second home owners from the region investing in the Bulgarian market." Passengers will be able to fly between Manchester and Sofia three times a week from... more

Greek Company Buys A 12 Million Euro Plot In Sofia For The First Ikea Unit In Bulgaria 14/03/2008
The Greek group Fourlis has signed a 12.081 million euro preliminary contract for the purchase of a plot in Sofia where it plans to develop the first IKEA hypermarket in the country, investor.bg reported. Negotiations for the land started in November last year, Fourlis officials said, but they refused to give details about its size and location. The Greek holder of the rights for the development of the Swedish furniture chain plans to start construction of the hypermarket later this year. Completion is scheduled for 2009. Prices in the Bulgarian outlet will be lower than those of its Greek counterpart because Fourlis’ policy is to comply with the market situation and the purchasing power (GDP per capita) of the country they are entering, company representatives noted. Fourlis... more

Zero Emissions Not A Myth Build Green Cee 25/04/2008
In June this year the world will witness the first zero emissions building ever, Gamze Celikyilmaz from the Regional Environmental Center (REC), told participants of Building Green CEE conference. To be named the REC zero emissions conference centre, it will exclusively utilise environmentally friendly technologies. Two solar panels on its rooftop will generate 22 300 kWh a year in what will be the largest sun-fed power capacity in Hungary. Its walls will be insulated to ensure minimum energy losses, while its lighting system will be equipped with light sensors that will regulate artificial light according to natural light available. Heating and cooling will be navigated through underground resources. The facility is the joint initiative of the Italian Ministry for the Environment,... more

British Property Seekers See Bulgaria As Fourth Most Attractive Destination 12/03/2008
Bulgaria ranks fourth among the destinations where British prefer to buy property. Increasing number of British looking for a second home abroad preferred places with sunny and warm climate, the Government’s Survey of English Housing said as quoted by The Guardian. Over the past 10 years the property British citizens bought abroad increased by 300 per cent, BGNES news agency reported. Until recently Spain and France ranked among the most preferred property purchase destinations. A new tendency was noticeable. British were now looking for property in countries like Bulgaria, Romania, Hungary and the Czech Republic. British property seekers saw the purchase of a house abroad as a personal investment. The report said that nearly two per cent of all British owned property in... more