New building house in Strandzha Mountian - ID 2792

British Real Estate Consultant Names Bulgaria Worlds Strongest Property Market 10/03/2008
Bulgaria was the world's strongest property market in 2007 with an estimated turnover of 11.36 billion euro, an increase of 2.36 billion euro over the previous year, British property investment company Obelisk said on February 1. The previous lack of modern apartments, retail, and administrative buildings, as well as growing investment in tourism, production, and the need for modern infrastructure caused the construction boom. Construction sector growth is expected to be between 12% and 16% year on year until 2010, Obelisk said in a statement. The huge property price rise has been largely attributed to a good mortgage market, high annual revenue of properties and the weak impact of the global credit crunch on Bulgaria, since there is virtually no cross-border banking in the... more

Bulgaria Foreign Debt Drops 2,8% By End Of January 27/03/2008
Bulgaria's gross foreign debt falls 2,5% to 27,4 billion EUR at the end of January. The reason according to the central bank is the withdrawn of foreign deposits from local banks, Reuters informed. The foreign debt has jumped to almost 36% y / y mainly due to strong private borrowing through the last year, data showed. The debt slowed to 83,7% of GDP by the end of January, down from 97,3% a month earlier. The private foreign debt fell 3% on a monthly basis to 23,4 billion EUR, after mainly foreign banks have withdrawn some 788 million EUR from their Bulgarian deposits. Bulgaria paid a total of 1,02 billion EUR to service its gross foreign debt through January, up from 721 million in 2007. more