Bulgarian Real Estate Market Attracts Foreigners With Lower Prices 07/03/2008
Property market tendencies show lower prices influence the choice of real estate buyers most, even if the quality is poor and the apartment needs urgent repair. Property agencies' statistics about foreign investment are controversial, Darik Radio reported. Predictions of a boom in the number of foreigners purchasing construction plots turned out false. Deals with foreigners were less than six per cent, Darik reported. Foreign investors are attracted by the lower prices in Bulgaria. They are interested in buying property costing less than 6 000 euro in remote villages. Afterwards investors reconstruct the building, transforming it into modern villa. Demand for such property exceeds the interest in luxurious houses in Sofia, which cost over 300 000 euro. Nearly 40 per cent of... more

Bulgaria Maintains Leading Position In Property Market Attractiveness Ranking 10/03/2008
Bulgaria's capital of Sofia ranks third in property market attractiveness according to recent research of Global Property Guide (GPG). The ranking included 12 European capitals and placed Bratislava and Istanbul at the first two positions. GPG compared several factors including prices per sq m, annual rental income, taxes, transaction costs, GDP and legislation in the country, investor.bg reported. EU membership requirements activated a number of reforms in Bulgaria, research said. The annual gross rental income in Sofia is 10.6 per cent on average. Average residential prices are still low amounting to 1042 euro per sq m and the taxes on rental income are within the European levels. Transaction costs remain too high with average levels between 24.8 per cent and 26.6 per... more

Bulgarias Capital City To Expand Northwards, Property Agents Say Opposite 11/03/2008
Major investors plan to construct residential complexes in the northern suburbs of Sofia. Sofia chief architect (the equivalent of a city planner) Petar Dikov was to present the idea to the Sofia Municipal Council (SMC), 24 Chassa daily reported. Dikov said that his idea was that SMC define the territories for long-term development. Companies that build in the selected areas would have to undertake to construct infrastructure there, he said. Sofia’s zoning plan also foresaw development of the city to the north of the ring-road. The municipality wants to attract investors to the region by improving access. The authorities plan to construct a freeway to connect to the Hemus and Trakia highways to the east and with the road to Kalotina border checkpoint to the west.... more