Solid House With Farm Buildings - ID 3043

Bulgaria Has Been A Disaster For Investors Romanian Property Agents 12/03/2008
In the past 30 years, Britons “have transferred their failed colonial spirit into the purchase of holiday cottages in foreign countries,” forming expat communities in Spain, Italy  France and the sunny beaches of Bulgaria. Still, David Cosgrave, representative of Romanian real estate company Off-Plan, said that “Bulgaria is over.” The country had been “a disaster for investors in the UK and Irish markets,” he said, as quoted by the Romanian magazine The Diplomat. Property prices in Bulgaria “have not grown and rental yields are low.” Winter resorts in the country have very short season and a number of apartments remain empty. “We believe agents have massively oversold Bulgaria,” Cosgrave said. Romania, on the other hand, was attractive to property investors, because demand... more

Sparkassen Plans 300m Euro In New Investments In Bulgaria 13/06/2008
Sparkassen Immobilien, the real estate arm of Austria’s Erste Bank, plans to invest up to 300 million euro in Bulgaria over the next two to three years, Friedrich Wahernig, member of Sparkassen Immobilien board of directors said on June 11. Its focus in the medium-term would be office and retail space. Additionally, Sparkassen Immobilien has remained keen on financing real estate projects in the region, Wahernig said. The company plans to divest of real estate investments in Western Europe and invest in Eastern Europe, Bulgaria included. The company has remained the leader on Bulgaria’s real estate leasing market with a market share of 36 per cent as of end-2007, Immorent Bulgaria, which represents Sparkassen Immobilien in Bulgaria, said in a June 10 statement. In 2007, the company... more