Hotel Businesses In Bulgarias Winter Resorts Face Problems Due To Lack Of Snow 12/03/2008
Owners offered five hotels for sale in the beginning of the week in Bansko winter resort. Warm weather and the lack of proper skiing conditions affected seriously hotel businesses in Bulgaria's winter resorts, imoti.net reported. Increasing number of hotels has been offered for sale already. Most investors took loans to construct hotels and the snowless winter proved fatal for their business plans, mediapool.bg reported. Nearly 55 hotels are already offered for sale in the Bansko region. The average price is 700 euro per sq m. Some of the more expensive offers reach 1100 to 1200 euro per sq m. Real estate agents said that it was uncertain if investors would show interest in such offers. International tourism tendencies show that more people are interested in smaller... more

Office Space In Bulgarias Capital Increases To Nearly 600 000 Sq M In First Half Of 2007 12/03/2008
Office space in Sofia increased by ten per cent in the first half of 2007, compared to the same period of 2006. Research from Colliers International Bulgaria showed that Sofia now had a total of 606.500 sq m of class A and B office space. According to the report, most of the office space in Sofia was located in the city’s suburbs. Currently more than 330 000 sq m of office space is being constructed in the suburbs. Rental prices continued increasing in the first half of 2007. In the suburbs, rent for class A property varies between 12 and 26 euro per sq m, per month. The office space market is growing, but it is mainly driven by companies’ relocations and expansion rather than new international entrants in the country, Colliers Bulgaria Managing Director Atanas Garov said. more

Investors To Build Villa Settlements In Bulgarias Rhodope Mountains 12/03/2008
Bulgarian and Irish investors intend to construct six villa settlements in Banite municipality, near the town of Smolyan in the Rhodope Mountains. Banite mayor Raicho Danailov said that the investors will provide more than 100 million leva for the project. Three of the settlements will be constructed near the village of Bosilkovo, on an area of 600 000 sq m. Two Bulgarian-Irish companies already purchased nearly 500 000 sq of land, Bulgarian news agency BTA reported. Danailov said that Banite’s spa centre also attracted investor interest. A Belgian investor planned to construct tourism attractions in the village, he said. Three other new hotels will be constructed in the village in 2007 and will have nearly 200 beds. Banite region is famous for its healing mineral waters. more