Balkan Property Market Is Thriving, Greece Lags Behind Report 10/03/2008
Greek property market misses a considerable investment volume each year due to its “immaturity,” Greek business daily Imerisia reported, as quoted by investor.bg. An underdeveloped market and state policy toward business, as represented by high tax rates, expensive red tape and lack of robust legislative framework, curtails private incentive. At the same time, other Balkan countries are undergoing a rapid development, attracting significant foreign investment, the daily claimed. Global Finance, a Greek fund manager, has recently announced its intention to set up a new fund, planning to raise 350 million euro for projects in Ukraine and West Balkans, in addition to its existing 500 million euro fund that covers the Balkans Greece has dropped out of their investment prospectus... more

Real Estate Prices In Bulgaria’s Capital 18/03/2008
In their new residential market overview, commercial real estate consultants Colliers Partners Bulgaria said on October 17 that there had been an increase in average asking sales price in some Sofia areas of about 20 per cent in the first half of 2007. Average selling prices in emerging neighbourhoods in Sofia were approaching 1000 euro a sq m, according to the company’s latest research. Meanwhile, established areas in Sofia such as Doctors’ Garden between Shipka and Oborishte streets, Ivan Vazov and Lozenets districts saw solid double digit growth levels in the first half of 2007 with an increase in average asking sales prices of 19, 11 and 19 per cent, respectively. After a decrease in the second half of 2006, Doctors’ Garden compensated in 2007 and is now just below 2000 euro a sq... more

Swiss Launches Sofiazurich Flight 11/03/2008
Swiss International Air Lines (Swiss), Switzerland's flag carrier, will launch daily flights between Sofia and Zurich on March 30. The daily flights were put on the schedule as a result of the increased commercial and leisure traffic between the two countries, the company said in a statement on March 10. The flights would be operated with an Airbus A319 aircraft and would connect Sofia to Zurich and to other destinations on Swiss' network, the company said. Both business and economy-class tickets would be offered. The daily flights will depart at 5pm from Sofia and arrive in Zurich at 6.20pm local time. The departure time from Zurich is 1pm with a local arrival time of 4.15pm. Bulgaria is experiencing economic growth that ranks well above average on a European comparison... more