Bulgarias Condominium Legislation Draft Flawed Expert 10/03/2008
The draft bill of Bulgaria's Condominium Act is ineffective and has been written in such a way as to serve the interests of heat, electricity and water utility companies, professor Vladimir Petrov from the Civil Association against Corruption and Illegal Construction said, as quoted by Dnevnik daily. According to Petrov, the draft law in its current form aimed to deprive properties from owners who do not pay their utility fees. If the draft law is approved by the Government, the heat, water and electricity utility companies will sign a single contract with the whole building as a legal entity and not separate contracts with each individual. If some tenants do not pay their utility fees, the amount they owed would be distributed among the rest of the residents. The draft law... more

Bulgarias Commercial Property Market To See Saturation 11/03/2008
The Bulgarian commercial property market is expected to face over-saturation in an average-term period, according to prognosis made by Absolute Capital Management (ACM) investment fund manager Robert Provine. The fund raised 100 million euro a year ago. It planned to invest in Central and Eastern Europe with a focus on Bulgaria and Romania. Despite its intentions, it has no project in Bulgaria yet, investor.bg reported. Provine said that the company preferred to concentrate its efforts on Romania and Ukraine for now. The large number of commercial property projects in Bulgaria made ACM managers conclude that the segment would soon reach saturation. The same predictions were recently made by consultancy company Colliers. The Bulgarian and Romanian commercial property... more

Bulgaria Continues Being Property Investment Hotspot 14/03/2008
Property investment group Assetz reported Bulgaria confirms its standing as leading property investment hotspot. For the second quarter of 2006 the return rate of Bulgarian property was 137 per cent, Assetz reported. In March the figure reached 116 per cent. Decreasing mortgage rates in the country make borrowing cheaper. Deposits decreased as well, guaranteeing investors bigger returns. All these developments confirmed Bulgarian property remains an attractive option for property seekers. The strentghening of the country's tourism sector and the availability of low-cost flights further increased the appeal of the local property market, Assetz said. Assetz  reported that the Greek and Polish property markets have also seen improvement in key indicators. Prices in Poland... more