Brilliant Two Storey House - ID 2945

Bia Warns Of Bankruptcies In Real Estate Sector 11/03/2008
The management of the Bulgarian Industrial Association (BIA) has warned that the country's real estate sector and related industries should brace themselves for a chain of bankruptcies in 2008, which could affect the gross domestic product growth. Real estate market is saturated, Bulgarian news agency (BTA) quoted BIA chair Bozhidar Danev as saying. There were more than 20 000 unsold holiday apartments in Bansko and another 200 000 along Bulgaria's Black Sea coast, all of them built with bank loans that needed to be repaid, he claimed. Intercompany debt at the beginning of 2008 was roughly 100 billion leva, according to BIA estimates, which assumed that debt maintained its annual 20 per cent average growth rate from previous years. The figure exceeded 81 billion leva in... more

Bulgaria Ranks After Spain And France In Real Estate Popularity 07/03/2008
Despite the lower property prices, Bulgaria ranks after France and Spain based on the popularity of the country as property destination for British investors. Nearly 43 per cent of the foreign property purchases occurred in the two countries, 999 Today reported. Australia ranks third with 11 per cent. Bulgaria remains fourth with 10 per cent, followed by the US with four per cent. Most British investors look for holiday property abroad, the online publication reported. Additional factors, increasing the appeal of property, include the availability of cheap flights and easy access to resorts. Bulgaria's expected EU membership attracts increasing number of property investors, representatives of Assetz real estate consultancy said. Once Bulgaria joins the union, property prices... more