Economic Problems Offer Opportunities To Investors 09/04/2008
Overseas property investors could be able to take advantage of the current problems in the global economy, according to experts. Currency specialist HiFX stated that the credit crunch and the resulting economic slowdown has led to some prospective investors"getting the jitters". However, the organisation said the financial problems across the world are also having a negative effect on property sellers. Therefore, people could be able to persuade estate agents who desperately need to meet their sales quotas to offer them a good deal. Mark Bodega, director at HiFX, commented: "Buyers should remember that a drop in demand will mean vendors are also feeling the pinch." However, he recommended that investors get a forward contract to fix the exchange rate during the transaction.... 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

Construction In Bansko Resort Frozen 11/03/2008
Bansko municipality major Alexander Kravarov has ordered a halt to construction in the famous mountain resort. The ban covers 28 areas, including the hotel and the villa zones, investor.bg reported. Construction will remain on hold until detailed zoning plans and street regulations for the areas are completed. While the ban is in effect, no permits for construction or change in the purpose of the agriculture land would be issued, investor.bg said. Kravarov’s order is subject to appeal within 14 days. Deputy mayor Lazar Zahov said that the ban affected new construction. “We have to be aware where and what can be constructed and it has to be in conformity with the infrastructure in the region,” he said, as quoted by Bulgarian news agency BTA. more