Construction Behind Russian Church In Sofia Called Off 23/04/2008
The proposal for construction of a building immediately behind the Russian Church in the centre of Sofia was withdrawn on April 22 by the same person who entered the proposal, Sofia's chief architect Petar Dikov. Dikov said he annulled the proposal because he had not seen the drawing for the project, Bulgarian daily Dnevnik said. Next to the church is the building of the Moscow Culture and Business Centre. The plot in the centre of Sofia is at the disposal of the municipality of Moscow under an agreement between then Sofia mayor Stefan Sofianski and his Russian colleague Yuri Luzhkov. The agreement contains a clause which gives the right for construction to the Russian centre on the plot next to the building in which currently the centre is housed. The additional construction of... more

Foreign Property Investors To Show Increasing Interest In Bulgarias Borovets Report 13/03/2008
The ski resort of Borovets is going to become increasingly attractive for foreign property seekers, Asta Bridge executive director Anton Pankev said. During the coming winter season Borovets is to see a number of major projects, Pankev said. The execution of such plans was going to attract further interest, he said. Upon completion new property in the resort will be offered for sale at prices of 1200 euro per sq m, investor.bg reported. The lack of private plots in Borovets hindered its development, Pankev said. The number of owners offering land for sale was much smaller than the number in Bansko winter resort, he said. Borovets will change because of its proximity to Sofia and execution of the Super Borovets project, Pankev said. As a result of the developments property... more

Fcc Plans To Build A Temporary Port Off Vidin 09/04/2008
Spanish developer FCC plans to build a temporary port off the town of Vidin, Dnevnik daily reported on April 7. FCC has already filed a request for a building permit and has the support of Vidin regional governor Krustio Spassov. As previously reported by The Sofia Echo, the Spanish developer was contracted to build the second bridge between Romania and Bulgaria over the Danube river. In a first display of support, Spassov sent a letter backing the FCC undertaking to Bulgarian Regional Development and Public Works Minister Assen Gagaouzov and Bulgarian Transport Minister Petar Moutafchiev. The port, to be built on public property, will facilitate the transportation of ready-made steel-concrete elements from the production premises in the town's duty-free zone to the construction... more

Optimism High In Bulgaria 20/03/2008
Accession to the European Union is inevitably going to play a central role in the future of property investment in Bulgaria. Bulgarian property is already proving popular with investors looking for long-term capital growth, but there is no doubt that accession to the EU will encourage many more to purchase properties in the country with a view to capitalising on the extensive house price growth that will presumably ensue. The road to EU membership has certainly been a bumpy one for Bulgaria and reports on its progress have let officials know that there is still some work to do. Despite this, financial experts in the country are seemingly confident that everything is on track to join on January 1st next year. The implications for property investment could be immense. Speaking to the... more

Property Developers Mull Setting Up Association 10/03/2008
Some of Bulgaria's largest real estate companies specialising in property development were in talks to set up an association, Laguna Group manager Martin Yanev said on February 26, as quoted by Dnevnik daily. Investor interest in recent years has been directed at building apartment compounds, which were sold to foreigners, who then rented them out. But lately the market, still largely underdeveloped, has been flooded by companies lacking in both professionalism and experience, which had a negative impact on the market. “Once a complex is erected, it has to be properly maintained and managed by experienced specialists,” Yanev said. The future association would aim to bring together large property management firms, thus limiting the activity of ill-famed companies, he added.... more