Eastern Europe To Benefit From Weak Pound 14/04/2008
The tourist trade in eastern Europe could be set to benefit from the weakening pound, an expert has suggested. According to Helen Warburton of the Post Office, many consumers in the UK are looking outside of the eurozone because the currency is now much stronger than the sterling. In fact, the pound has now fallen to a record low against the euro, which means people face much higher costs if they visit countries such as Italy, Spain or France. Ms Warburton told the Daily Mail that there have been "significant increases" in the cost of popular purchases such as food and drink. Therefore, holidaymakers are opting to visit destinations with more favourable exchange rates, such as Bulgaria. Speaking to the newspaper, Ms Warburton said: "People are looking for destinations where... more

Residential Property Prices In Bulgarias Varna Increase More Than Expected 11/03/2008
Residential property prices in Bulgaria's coastal town of Varna increased between 15 and 20 per cent since the beginning of 2007. The increase is 10 per cent higher than agents’ predictions, Dnevnik daily reported. Many buyers could not find property that answered their needs in the end of 2006 and the beginning of 2007 was also strong in terms of sales numbers. National Statistical Institute (NSI) data showed that average apartment prices in Varna increased by 16 per cent in the first quarter of 2007 reaching 840 euro per sq m. Brokers could not predict prices increase by the end of 2007 due to real estate market dynamics. The price increase concerns traditionally expensive residential districts in Varna among which Chaika, 950 euro per sq m Levski, 833 euro per sq m,... more

Office Space In Bulgarias Capital City Outskirts Increase By 50 Per Cent 11/03/2008
The amount of office space in the outlying regions of Sofia has increased by 50 per cent in 2006, compared to 2005 figures, according to research by real estate consultancy agency Colliers. Office space in the region increased from 167 000 sq m in 2005 to 251 000 sq m in 2006, investor.bg reported. In comparison, the total volume of office space in the centre of Sofia increased by 9.5 per cent. Class A offices added up to 241 000 sq m, an increase of 34 per cent. Class B offices reached 305 500 sq m, an increase of 21.5 per cent. The lack of land appropriate for office buildings, along with high prices for land and insufficient parking space were the main factors forcing investors to build far from the centre, Colliers. Office space in the centre of Sofia currently totals 127... more