Strong Property Market Freezes Interest Rates 19/03/2008
As has been widely anticipated in the last few days, the Bank of England has decided to keep interest rates at 4.5 per cent, with the strength of the property market a key reason behind the decision. After the interest rate cut in August 2005, the property market almost immediately showed signs of recovery and confidence has been steadily rising ever since. While first time buyers had previously been reluctant to commit to any property purchases, Yorkshire Bank found this week that they are now willing to overpay to ensure they secure a place on the property ladder. It seems that while those in the property investment business will be generally satisfied with the decision to freeze rates, manufacturers will be less pleased. Recent figures from the British Retail Consortium (BRC)... more

Holiday Property In Bulgarias Veliko Turnovo Among The Least Expensive In The World 12/03/2008
The Bulgarian town of Veliko Turnovo has been included in a ranking compiled by UK newspaper The Independent of the most favourable holiday property markets. Property near Veliko Turnovo can be bought for 20 000 to 100 000 pounds sterling. Unlike Bansko and Black Sea towns, Veliko Turnovo has not been hit by excessive construction, and had beautiful natural scenery and authentic villages, the newspaper said, as quoted by investor.bg. The report said that prices of family houses varied between 5000 pounds for a small bungalow to 20 000 pounds for a small house needing repairs, to 70 000 and 120 000 pounds for a large family house in a good condition with land. Countries nearby Bulgaria, including Croatia, Montenegro and Turkey were also included in the newspaper’s selection.... more

Uklisted Bulgarian Land Developments 2007 Pretax Loss Slides By 81 Per Cent To 243 000 Euro 14/03/2008
London-listed Bulgarian Land Development (BLD) managed to shed its pre-tax loss by 81.8 per cent to 243 000 euro in 2007 due to increased income, it said on March 6, as reported by SeeNews. The loss per share was 1.23 cent in 2007, compared to the 5.57 cent in 2006, BLD said in a statement to Alternative Investment Market (AIM) of the London Stock Exchange, where it is listed, SeeNews said. "The increase is gratifying and shows we are moving in the right direction," BLD's chief executive, Christo Iliev, said in the statement. BLD was admitted to the Alternative Investment Market of the London Stock Exchange in March 2006. BLD focuses on property in the holiday areas of the Bulgarian Black Sea coast and ski resorts, and in the capital Sofia. more