Holidaymakers Look At Exchange Rates 21/04/2008
Exchange rate movements are becoming more of an issue to holidaymakers, industry analysts have revealed. According to currency specialist Travelex, leisure travellers are becoming "increasingly savvy" with regards to financial fluctuations and taking them into account when booking trips abroad. John Nicholas, director of the organisation, said that this has led to people travelling to places where they can get more for their money. This has become particularly apparent in recent weeks, as the pound has fallen to a record low against the euro, which means general expenses in eurozone countries will cost much more. Mr Nicholas commented: "People [are looking] outside the traditional eurozone holiday hotspots to make their money go further this summer." He highlighted eastern... more

Bulgaria To See 20% Rise In Residential Property Prices By 2010 19/03/2008
Named the world's strongest price riser in 2007, Bulgaria's property market is expected to keep up its momentum over the next two years, experts said. Amidst a global cooling of the property market, residential prices are forecast to grow by up to 20% in 2008 and 2009, down by an average of 15% last year, Martin Gikov from UniCredit Bulbank projected. In view of the forecast rising prices following the county's accession to the European Union, the sellers on the house market decided to play a wait-and-see game, slowing down supplies and pushing prices up, Gikov explained. Mortgage credits grew by 67% in 2007 as compared to the previous year, Levon Hampartzoumian, UniCredit Bulbank CEO commented, denying reports of a speculative bubble in domestic lending. He ruled out a... more

Q1 2007 Construction Permits Number Down 24/05/2008
Bulgarian authorities have issued 3505 construction permits in the first quarter of 2008, a decrease of nearly 25 per cent over the previous three months, data from the National Statistical Institute data showed on May 21. Residential developments continued to account for the largest share of the total, with 2267 permits granted for total area of area of 1.6 million sq m, compared with 2884 permits for 2.4 million sq m in the previous quarter. The number of permits for administrative buildings went down to 78 from 145. Bourgas region received the largest number of permits for a third quarter running, although the figure nearly halved at 465, compared with 875 in October-January 2007. Varna saw the number of permits drop from 516 to 364, in Sofia the decrease was 406 to 342 and in... more