700 sq m plot in regulation - ID 3284

Investment In Bulgaria Is Becoming An Increasingly Attractive Prospect. 20/03/2008
Property prices have been rising steadily for a number of years now as Bulgaria widens its appeal to a broader cross-section of the investment community. With the ski resorts including Bansko and Borovets improving annually and the Black Sea resorts also building up an impressive tourist industry, there is certainly a lot to look forward to in Bulgaria. The Sofia Echo has today referred to reports in both the Dnevnik newspaper and the Wall Street Journal, both of which point to a significant rise in demand for properties in Bulgaria and in central and eastern Europe in general. Bulgaria, the Czech Republic, Poland, Romania, Russia and Slovakia collectively brought in €5.8 billion through property deals last year, according to the report. This is thought to have represented a 38 per... more

Property Focus: Flawed Pearl - Sophia Echo 21/06/2008
The opening of Mall of Varna, which claims to be Bulgaria’s largest shopping centre to date, was marked by controversy over its paperwork. After the official opening, Varna-based daily Narodno Delo said that the building lacked the final right-to-use permit (popularly known as act 16), and is therefore flouting regulations. The permit validates that a completed construction complies with all safety standards as well as the initially approved design and architectural plans. The issue of the document falls under the jurisdiction of Bulgaria’s Directorate for National Construction Supervision (DNCS). Tsvetelina Ivanova, a spokesperson for DNCS, confirmed that such a permit has not been issued, as quoted by Narodno delo. On June 17, officers from the Varna branch of the directorate... more