Natura 2000 Regime In Bulgaria Less Restrictive Than Other Protective Measures 12/03/2008
The regime for the carrying out of investment projects in Natura 2000 protected areas was much less restrictive than the measures valid for national parks and preserves, head of the parliamentary environment and water affairs committee Georgi Bozhinov said. Bozhinov and Parliament speaker Georgi Pirinski met on January 23 representatives of environmental organisations demanding maximum inclusion in the European environmental network. All national parks would become part of Natura 2000, said Bozhinov. Investors had no reason to protest against the introduction of the network, said Bozhinov. Protests in Bansko and Razlog were 'mere speculation' and aimed to guarantee the carrying out of some investment projects that would not be approved otherwise, said he. Next week... more

Bulgarias Property Investment Registers Recordbreaking Turnover Of 11.36 Billion Euro In 2007 14/03/2008
As the world's strongest property market in 2007, Bulgarian property investment has made a huge 2.36 billion euro increase on 2006 figures and is maintaining momentum for 2008, according to global investment specialist Obelisk. Bulgaria’s property investment has proven to be the country's economic driver with a record-breaking turnover of 11.36 billion euro in 2007. Many local and international property experts predicted the year's increase to reach up to 30 per cent but, by September the market had actually risen by 32 per cent and many major cities, such as Sofia, are already recording impressive growth this year. James Gonzalez, market analyst at Obelisk, comments: "The huge property price rise has been largely attributed to a good mortgage market, high annual property... more

Rental Prices Up 46 In Q1 2008 Industry Watch 21/03/2008
The rental prices of a regular two-room apartment in Sofia rose by an average of four per cent in the first quarter of 2008, while three-room flats in prime locations posted a 6.7 per cent mark-up in the same period, according to a recent report of the local think-tank Industry Watch. Despite the recorded growth in residential rents, their rise still lags behind the growth in sale prices and the flat’s repayment period (sale price/rent price ratio) has been extended from 188 to 234 months on average, according to the survey. Industry Watch analysts have observed a certain decline in the interest in residential and holiday real estate. Business space – offices and warehouses, on the other hand, are gaining ground. more