Foreign Investments Reign Over Bulgarian Property Developments 11/07/2008
Foreign investors have a 97 per cent share of the total investments in Bulgarian commercial buildings, according to consultant company King Sturge, as quoted by website investor.bg. In Sofia and some other big cities there are pleanty of examples of completed developments, including numerous retail and office buildings. At the initial stage of those developments, there had been a partial share of Bulgarian investors, which was later sold to foreign players. This pattern was repeated with Sofia City Centre, which was acquired by the investment fund Equest Balkan Properties for 94 million euro. The Central Mall in Veliko Turnovo was bought out by European Convergence Property Company for 29 million euro. More than 15 future projects have been announced in Sofia alone and a further 10... more

Central Mall In Bulgarias Veliko Turnovo For Sale 10/03/2008
European Convergence Property Company (ECPC) investment fund was considering offers from possible buyers of the Central Mall in Veliko Turnovo, the fund said, in a statement to the London stock exchange. The sale was to be concluded in the beginning of 2008, investor.bg reported. According to the ECPC statement, the mall was almost completely let out. ECPC admitted that the construction suffered minor construction defects, which were being fixed by the constructor. The investment fund announced its intentions to sell the commercial complex as early as in Augusts 2007. By that time the fund sold its three malls in Romania to the German DEGI Deutsche Gesellschaft fur Immobilienfonds mbH (DEGI) for 110.5 million euro. ECPC explained its withdrawal from Bulgaria and Romania with... more

Bulgarias Residential Property Prices Increase 12/03/2008
Average prices of residential property in Bulgaria rose by 4.6 per cent from July to September 2006, a National Statistical Institute report said. Property was sold for 865 leva a sq m, the reports said as quoted by Darik Radio. The prices were 14 per cent higher than those for the same period in 2005 and 11.3 per cent higher than the prices in the end of 2005. Property in the coastal city of Varna became more expensive than the property in Sofia, taking into consideration prices in the end of September 2006, the report said. The average property price in Varna was 1343 leva a sq m, or two leva more expensive than in Sofia. Property in the other Bulgarian big coastal city, Bourgas, costed 1232 leva a sq m, Darik said. The highest growth in the property prices was registered... more