Newlybuilt Apartments In Varna Cost More Than In Sofia Report 14/03/2008
Newly-built apartments in Varna cost more than in Sofia in 2007, because of the limited supply in the coastal city, Stroitelstvo Gradut weekly reported on March 10. Although Sofia's residential property prices registered a greater increase than those in Varna, 45.7 versus 33.9 per cent, respectively, the average price of new apartments in Sofia was 1043 euro a sq m, compared with 1188 euro a sq m in Varna, data provided by Varna-based Foros real estate agency showed. “The main reason is the lack of large-scale residential complexes that are being developed now in cities like Sofia and Plovdiv,” Dobromir Ganev, Foros agency's managing director said. “There are several gated complexes in the planning stage in Varna, but they won't be delivered soon,” he added, as quoted... more

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

Illegal Construction In Irakliemine Stopped 10/03/2008
Construction at the resort complex Riverside Village in Irakli-Emine, which sofiaecho reported on January 29 was under way despite the fact that the area was a Natura 2000 protected area, has been stopped by the regional inspectorate for environment protection and waters (RIEPW) in Bourgas. The tip-off for the illegal construction of investor Swiss Properties came from civil group Save Irakly, dir.bg said. According to RIEPW, the construction permission which had been granted, was in violation of the law, Burgasinfo.com said. The construction permission had been issued by the Nessebar municipality on September 20 2007, but a compatibility assessment permit had not been issued, propertywisebulgaria.com said. The Bourgas municipality will be fined for this omission. In August... more