Equest To Invest 40 M Euro In Ancient Town Construction In Bulgarias Sozopol 12/03/2008
Immofinance, part of the UK investment fund Equest, has launched the construction of a resort village two km to the south of the coastal town of Sozopol. The company will invest 40 million euro in the project, called Sozopolis, 24 Chassa daily reported. Sozopolis will span nearly 90 000 sq m, but the gross build up area will be only 34 000 sq m. Low buildings, green areas and a 1500 sq m spa centre with mineral water pools will feature in the complex. The village would be replica of the old Sozopol, with 80 houses, 52 apartments, cobblestone roads, bazaar with cafй, shops and two restaurants, 24 Chassa said. A church and wind mill will also be constructed. Some of the houses will have swimming pools and jacuzzis. The detached houses will each be 365 sq m, with 800... more

High House Prices Drive Ftbs Overseas 27/03/2008
High house prices and economic problems in the UK are leading to many first-time buyers (FTBs) looking abroad, a study has found. Fair Investment Company revealed that nearly one in ten FTBs have already bought their first property overseas, while 44 per cent of thinking of doing so. The firm highlighted a number of reasons for people choosing to look away from home, such as the impact of the credit crunch on the British housing market. However, issues including the availability of property in the UK and the effect this has had on prices were flagged up as other factors behind this trend. James Caldwell, director of Fair Investment Company, commented: "Overseas they can sometimes find cheaper property prices and a lower cost of living." He added that this could make a first home... more

Property Focus: Flawed Pearl - Sophia Echo 21/06/2008
The opening of Mall of Varna, which claims to be Bulgaria’s largest shopping centre to date, was marked by controversy over its paperwork. After the official opening, Varna-based daily Narodno Delo said that the building lacked the final right-to-use permit (popularly known as act 16), and is therefore flouting regulations. The permit validates that a completed construction complies with all safety standards as well as the initially approved design and architectural plans. The issue of the document falls under the jurisdiction of Bulgaria’s Directorate for National Construction Supervision (DNCS). Tsvetelina Ivanova, a spokesperson for DNCS, confirmed that such a permit has not been issued, as quoted by Narodno delo. On June 17, officers from the Varna branch of the directorate... more