Prices Of Bulgarian Houses Grow Most In 2007 10/03/2008
House prices in Bulgaria registered the highest increase in the world in 2007, while those in the US were at a standstill and price growth in Europe slowed down, according to the Global Property Guide list. According to figures until the end of September 2007, Bulgarian house prices had risen by 30.6 per cent, BBC said. Second in the ranking was the Chinese city of Shanghai with house price increases of 27.9 per cent in the first 10 months of 2007. Singapore, Estonia’s Tallinn and Lithuania followed in the ranking, with price increases of respectively 27.6, 23.4 and 13.6 per cent. The figures were taken in local currency without adjusting for inflation, BBC said. more

Sparkassen Plans 300m Euro In New Investments In Bulgaria 13/06/2008
Sparkassen Immobilien, the real estate arm of Austria’s Erste Bank, plans to invest up to 300 million euro in Bulgaria over the next two to three years, Friedrich Wahernig, member of Sparkassen Immobilien board of directors said on June 11. Its focus in the medium-term would be office and retail space. Additionally, Sparkassen Immobilien has remained keen on financing real estate projects in the region, Wahernig said. The company plans to divest of real estate investments in Western Europe and invest in Eastern Europe, Bulgaria included. The company has remained the leader on Bulgaria’s real estate leasing market with a market share of 36 per cent as of end-2007, Immorent Bulgaria, which represents Sparkassen Immobilien in Bulgaria, said in a June 10 statement. In 2007, the company... more

Balchik Wants To Buy Back Land Containing Ancient Temple Of Kibela 23/04/2008
The Balchik municipality has expressed interest in buying back the plot of land on which the remains of the ancient temple of Kibela (the ancient goddess Cybele) had been discovered. A buy-back however, would take a significant chunk out of the municipal budget, Bulgarian news agency (BTA) quoted Balchik mayor Nikolai Angelov as saying. Angelov said the municipality had offered the current owners the chance to exchange the site for a larger plot but the offer had been rejected. The two sides could not reach an agreement about the value of a possible deal, Investor.bg said. The temple had been discovered in the spring of 2007 during excavations for the construction of an on-site hotel. The construction had been stopped by the municipality, Angelov said. The temple for the goddess was... more