Old House just a few km from Albena - ID 3445

Investors Urged To 'hang On' 27/06/2008
People who own property in a market which is slowing down have been urged to sit tight and wait for an improvement. BuyAssociation stated that some of established investment markets such as Spain have recently witnessed a decline in house prices. However, the online portal has recommended that people do not put their residence up for sale, as the location could be seeing a glut of resale properties entering the market. If people do attempt to sell up in this climate, they would not be able to command a high price and could potentially lose money. Therefore, it has suggested that people wait for the "cyclical" market to pick up again. Paul Collins, property editor at BuyAssociation, commented: "Just hang on and try and make some money through rentals - hopefully you keep the... more

Indian Owners Suspend 70m Euro Project Near Sozopol 10/03/2008
Three Indian entrepreneurs, who have announced earlier their intention to invest more than 70 million euro in building a 30 000-residents town near the Sozopol’s village of Rossen, have had to suspend their plans, Standart daily reported on February 19 2008. The large-scale undertaking has been put on hold after local farmers filed a lawsuit with the Bourgas administrative court against the changes to the village's zoning plan. The Green City, projected to spread 350ha, would feature dozens of deluxe five-storey hotels, residential complexes and single-family houses with their own swimming pools. A special area will be allocated for breeding animals, growing crops and flowers – thus offering original pastime to holiday-makers who will have the opportunity to acquire skills in... more