House for sale near Pleven - ID 3953

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

Developers Queue To Buy Land In Bulgaria. 19/03/2008
About 30 developers and property hunters line up on an empty white sand beach, straining to hear the English translation of a speech from Krasimir Todorov. Todorov, the mayor of Avren, is trying to sell 300,000 sq metres of municipally owned land south of the Black Sea port of Varna. It includes a thick strip of forest and hot mineral springs suitable for spa treatments, and it borders the Kamchia River that is part of a protected environmental area. “This is one of the prime properties along this coast,” he says, gesturing towards the sea. “We offer an excellent return for investors but also a great place for a holiday home.” His sales pitch seems to be working. The Moscow government has already invested in this area of Bulgaria’s coast, with plans to build two five-star hotels on a... more