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

Property Prices In Bulgaria Maintain Growth Rate 14/03/2008
Property prices in Bulgaria were so low it was impossible to make losing investment in the country's real estate sector, International Herald Tribune reported. At the same time property prices are constantly on the rise. In one year residential property prices went up 36.6 per cent, data of the National Statistical Institute shows. Prices are still much lower than the value of similar property in other Central and East European countries, like Slovakia, Romania and the Czech Republic. West European property seekers are mainly lured by the opportunity to purchase a cheap vacation house in Bulgaria. A smaller number of foreigners look for property investment opportunities in the country, IHT reported. Foreigners are involved in 23 per cent of the real estate deals... more

Deadline For Seaside Construction Checks Extended 11/03/2008
Bulgaria's Directorate for National Construction Supervision (DNCS) said it extended the period during which it would check for illegal construction on the Black Sea coast to March 24. Originally, the deadline was March 7. DNCS issued another four orders for the demolition of 24 illegally constructed units in Zlatni pyassutsi (Golden Sands) summer resort, the institution said on its website on March 10. It is now in the middle of choosing the executor of the actual demolition. The orders were issued for: Snack house-Slaveev rai (Nightingale’s heaven) – located in the street across Afrodita and Tintyava hotels; six booths, constructed in the street behind Perunika (Iris) hotel; nine booths, located in square number 50 of the Golden Sands zoning plan; another eight booths,... more

Housing In Bulgaria Costs 30 Annual Salaries 12/03/2008
Almost 30 average Bulgarian annual salaries are needed to buy an apartment in Bulgaria. This made Bulgaria one of the most expensive countries in the European Union to buy a house, Dnevnik daily said. Denmark was the cheapest with only 5.3 average annual salaries. Real estate website Properazzi made the calculations for Bulgaria based on an annual income of 1884 euro (almost 3800 leva) and an average apartment price of 54 570 euro, the newspaper said. Britons who complained houses were expensive in the UK and who had been attracted by prices in Bulgaria only needed nine average annual salaries to buy a home in the UK. Properazzi representative Yanik Laklo said that “media reported that Britons could barely afford to buy any real estate, but data showed something... more

Cba Asset Management Opens Veliko Turnovo Hypermarket 28/03/2008
The first hypermarket of the CBA Asset Management chain in Veliko Turnovo opened its doors on March 27 in Retail Park Veliko Turnovo, company officials told investor.bg. Technomarket, Danish homeware retailer JYSK and a number of other retail chains opened their outlets in the shopping centre on the same day. Investment in the hypermarket exceeds two million leva. The shop has 10 cash-register terminals and an own 80-car indoor parking. It will employ 80 people. The retail unit will be managed by CBA Asset Management's subsidiary in Veliko Turnovo, which has 15 supermarkets in the area, generating 44.7 million leva in operating revenue and a net profit of 1.4 million leva in 2007. The second hypermarket of CBA Asset Management will open on April 3 in Sofia -  its first unit in... more