| EU Status Increases Confidence in Bulgarian Property Market |
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| Wed, 03 Oct 2007 12:24:05 +0200 |
| Bulgaria's accession to the EU has given overseas property investors "confidence" in the market, the UK-based web page holidaylettings.co.uk informed.... ...more |
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| Mall Plovdiv Picks Sienit for General Contractor |
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| Mon, 01 Oct 2007 16:52:03 +0200 |
| Sienit Holding Ltd, a Bulgarian construction and property development company, was selected as general contractor for Mall Plovdiv, the biggest trade ... ...more |
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| Bulgaria Boasts Europe's Highest Rate of Property Ownership |
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| Sat, 29 Sep 2007 13:53:59 +0200 |
| Bulgaria has one of the world's highest rates of property ownership and tops the chart in Europe, a study shows. A total of 94% of Bulgarians owned ... ...more |
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| Young Brits Dominate Bulgarian Housing Market |
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| Sat, 29 Sep 2007 12:06:51 +0200 |
| www.aboutproperty.co.uk Young Brits are buying more property than any other group in Bulgaria, according to new research. As much as one third of p... ...more |
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| Austrian Firm Begins Work on Mall in Bulgarian Capital |
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| Wed, 26 Sep 2007 20:08:13 +0200 |
| Austrian firm Real 4 You began work on its Mega Mall in the Lyulin neighbourhood of Bulgarian capital Sofia on Wednesday, looking to open the shopping... ...more |
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| Russian Homebuyers Flock to Bulgaria |
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| Wed, 26 Sep 2007 11:11:42 +0200 |
| www.russiatoday.ru With house prices at home going through the roof, many Russians are looking abroad to get a foot on the property ladder. And Bulga... ...more |
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| SCOTTISH COMPANY BUYS MALL IN BULGARIAS COASTAL VARNA |
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| Tue 25 Sep 2007 |
| Scottish company Miller Developments purchased Mall Varna for 120 million euro, consultancy company Forton International reported.The sales negotiations lasted more than a year and involved consultants from Forton and Cushman amp;Wakefield, investor.bg reported.The construction of the mall itself was launched a bit earlier by the investor Interservice Uzunovi. ...more |
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| HOUSING IN BULGARIA COSTS 30 ANNUAL SALARIES |
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| Tue 25 Sep 2007 |
| Almost 30 average Bulgarian annual salaries are needed to buy an apartment in Bulgaria.This made Bulgaria one of the most expensive countries in the European Union to buy a house, Dnevnik daily said. Denmark was the cheapest with only 5.3 average annual salaries. ...more |
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| ISRAELIS TO BUY LAND IN BULGARIA FOR 37 MILLION EURO |
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| Tue 25 Sep 2007 |
| Israeli construction and investment company BSR Europe has reached an agreement for the purchase of close to 80 000 sq m of land in Bulgaria for 37 million euro, the company announced. BSR Europe has partnered for the deal with a European investment fund for real estate. The company refused to name the fund or the exact location of the land, saying these details would be announced separately, investor.bg ...more |
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| Bulgaria Introduces Structural Eurocodes in 2011 |
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| Tue, 25 Sep 2007 15:26:06 +0200 |
| Bulgaria will be obliged to implement the Eurocodes in construction from 2011, European Affairs Minister Gergana Grancharova said Tuesday at a forum o... ...more |
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| Bulgaria's GERB Recycles Sofia Municipal Councillors |
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| Mon, 24 Sep 2007 18:44:28 +0200 |
| Bulgaria's GERB party of incumbent Sofia mayor Boyko Borissov presented on Monday its list of nominations for the Sofia city hall for next month's loc... ...more |
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| 400 MILLION EURO INVESTMENT IN MIXED COMPLEX NEAR BULGARIAS CAPITAL |
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| Fri 21 Sep 2007 |
| Gardens Group company plans to invest in a largescale project of mixed type near Sofias village of Lozen. The investment would total 400 million euro, investor. bg reported. The name of the complex would be Garden City and it would cover 600 000 sq m. The complex would include nearly 200 apartments, 240 houses, trade centres, office buildings, a sports centre, a school and a kindergarden. ...more |
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| 3000 EURO SQ M FOR SHOPS IN NEW MALLS IN SOFIA |
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| Thu 20 Sep 2007 |
| Shops in malls currently under construction are being sold at 3000 euro per sq m, manager of the Bulgarian office of Estonian Arko Vara group, Rauni Tiliso said. Demand for shopping real estate in Sofia is high. Most wanted are malls and shops in main shopping streets, Za Grada quotes Dnevnik daily. Shops under construction are 50 per cent up from the end of 2006. At the moment eight to nine malls are under construction ...more |
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| Real Estate Firm Launches High-end Residential Project in Bulgaria |
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| Thu, 20 Sep 2007 18:49:56 +0200 |
| Real estate developer Gardens Group launched on Thursday construction on its EUR 9,2 M Bistritza Gardens residential project in the outskirts of Bulga... ...more |
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| Poor Britons Urged to Relocate to Bulgaria |
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| Thu, 20 Sep 2007 16:06:02 +0200 |
| Britons who want to reduce their cost of living have been advised to consider relocating to Bulgaria. The Metro newspaper said the eastern European c... ...more |
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| Bulgaria World Champ in Property Prices High Jump |
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| Thu, 20 Sep 2007 12:18:52 +0200 |
| Bulgaria's residential property market has recorded the world's second-highest increase in prices in the second quarter of 2007, overleaped solely by ... ...more |
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| BULGARIAS CAPITAL OFFERS BETTER INVESTMENT PROSPECTS THAN SEASIDE |
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| Wed 19 Sep 2007 |
| Sofia could offer much more opportunities for investing in property than the seaside according to an expert. Those hoping to generate money from investing in Bulgaria should ignore the coast as it was less lucrative, and focus on Bulgarias capital, Simon Tweddle, chief analyst at Property Secrets said, as quoted by propertyshowrooms.com. Seaside resorts depended on seasonal factors including tourist visits ...more |
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| AUSTRIAN INVESTORS TO CONSTRUCT 250 MILLION LEVA MALL IN BULGARIAS CAPITAL |
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| Tue 18 Sep 2007 |
| Shopping City West Ltd, a daughter company of Austrian companies Real Finanz, Real Consult and Real Finanz East, and Bulgarian Silvana Forest, will invest 250 million euro in the construction of a mall in the western part of Sofia. The complex would be called Eurogate and would receive a first class investment certificate, investor.bg reported. The project would include the construction of offices and shopping areas, ...more |
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| Bulgarian Real Estate Management Software to be Implemented in Burj al Arab |
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| Tue, 18 Sep 2007 15:58:27 +0200 |
| Facility Management Center, a software solution for management of real estate developed by Bulgarians, may be implemented in the world's only hotel wi... ...more |
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| BULGARIAN PROPERTY PRICES 10 PER CENT UP BEFORE END OF YEAR |
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| Mon 17 Sep 2007 |
| Property prices in the bigger cities in Bulgaria will rise with 10 per cent before the end of the year.This was the consensus among real estate agents in Bulgaria, actualno.com said.Property prices are going up daily and there is no reason in the near future for a dramatic decrease, said Toni Mladenova, of real estate agency Bulgaria 21. ...more |
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| OLD BANK IN BULGARIAS PLEVEN TO BE TRANSFORMED INTO TRADE COMPLEX |
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| Fri 14 Sep 2007 |
| Construction and investment company Niya Ltd announced the investment of 9.2 million euro in the reconstruction of a former bank building in the Bulgarian town of Pleven into a trade and entertainment centre. Central Mall Pleven would have a buildup area of 11 000 sq m, investor.bg reported. The fivefloor building was planned to include 40 shops. Rental prices would vary between 25 and 30 euro per sq m. ...more |
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| RENTS IN BULGARIAS CAPITAL ROSE BY FOUR PER CENT IN THREE MONTHS |
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| Wed 12 Sep 2007 |
| Average residential rental prices in Sofia rose by nearly four per cent between the beginning of June and the end of August 2007, according to Industry Watch IW research. Small apartments in Sofia had the highest rental price per sq m, investor.bg reported. The selling price per sq m of small apartments is higher than that of large apartments. Small apartments are preferred in both the cheap and the more ...more |
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| INDUSTRIAL FLOORSPACE IN BULGARIAS CAPITAL 1.2 MILLION SQ M |
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| Mon 10 Sep 2007 |
| The total amount of owneroccupied and speculative industrial floorspace in Sofia reached 1.2 million sq m according to real estate agency Colliers International research. This figure includes warehouse, manufacturing and flex buildings. Out of 1.2 million sq m of industrial floorspace, 160 000 sq m was speculative, Colliers said. Plovdiv features among the towns that attracts most investors in industrial ...more |
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| HOLIDAY COMPLEXES ALONG BULGARIAS BLACK SEA COAST KEEP ATTRACTING INVESTORS |
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| Tue 04 Sep 2007 |
| The interest in holiday complexes along Bulgarias Black Sea coast increased 3 to 5 times compared to 2006, Nikolai Pehlivanov, owner Green Life Property Development, said. Real estate prices along the southern coast increased by an average of 18 per cent on annual basis, despite the prognosis of trade decline and reports of foreign investors withdrawing, Focus news agency said. Holiday properties in ...more |
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| NEARLY 40 000 UK CITIZENS OWN PROPERTY IN BULGARIA |
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| Mon 03 Sep 2007 |
| Almost 40 000 Britons currently have property in Bulgaria and the demand remains sufficiently high to lead to a steady price increase. UK daily The Independent said that Bulgaria featured as one of the most attractive destinations for property buyers where one could still buy flats worth 34 000 euro. Brokers quoted by the paper however warned that investors should no longer expect quick and easy returns. ...more |
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| GREEK COMPANY TO INVEST NEARLY 100 MILLION EURO IN TOURISM COMPLEX NEAR BULGARIAS SAMOKOV |
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| Fri 31 Aug 2007 |
| Icon Ltd, a daughter company of the Greek GEK Group, plans to invest in the construction of a tourism centre near the Bulgarian mountain resort of Samokov. The project envisions the construction of a spa hotel, mini golf course, a trade centre and trade street, sports fields, petrol station, swimming pool, tennis courts, apartment houses and ...more |
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| LARGE EUROPEAN INDUSTRIAL PROPERTY COMPANIES INTERESTED IN BULGARIA |
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| Fri 31 Aug 2007 |
| A large number of leading international investors focus their interests on South East Europe, some of which realise projects worth billions of euro. Bulgaria and Romania are particularly attractive in view of their recent European Union accession, economic growth, low property prices and their decreasing populations purchasing power, investor.bg reported. After the boom of the residential and business property ...more |
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| WORLD PROPERTY CRISIS HINDERS MARKET BOOM IN BULGARIA |
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| Wed 29 Aug 2007 |
| The increase in Bulgaria in 2008 will be slower than in 2007 because of the residential property market crises in the US and Europe. The prices in Bulgaria would not drop, but the increase will remain within 10 per cent, experts said as quoted by Pari daily. After years of growth, the prices of real estate in some European markets went down. Spain and Ireland registered a firm decrease in the prices, property became less ...more |
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| 168 MILLION INVESTED IN MALL CONSTRUCTION IN BULGARIAS CAPITAL |
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| Wed 29 Aug 2007 |
| A new trade centre will be constructed in Sofias Malinova Dolina residential district opposite Business Park Sofia. Investment will total 168 million euro, the investor in the project Forum Sofia Ltd said as quoted by investor.bg. Trade centre Forum Sofia will cover an area of 170 000 sq m. It will be a mixed trade entertainment centre 88 000 sq m of which will be given for rent. ...more |
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| RESIDENTIAL PROPERTY PRICES IN BULGARIAS CAPITAL MOST EXPENSIVE IN IZTOK COMPLEX |
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| Wed 29 Aug 2007 |
| Residential property prices in Sofia saw the highest increase in the Iztok borough for the first six months of 2007. According to Colliers International consultancy agency, prices in the Iztok residential complex went up by 29 per cent in the first six months of 2007, investor.bg reported. The increase on an annual base was 51 per cent. As a result Iztok, became the second mostexpensive residential district ...more |
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| OFFICE SPACE IN BULGARIAS CAPITAL INCREASES TO NEARLY 600 000 SQ M IN FIRST HALF OF 2007 |
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| Mon 27 Aug 2007 |
| 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 citys suburbs. Currently more than 330 000 sq m of office space is being constructed in the suburbs. ...more |
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| MEGA SKI PROJECTS IN BULGARIAS SAMOKOV AND PANICHISHTE TO BEGIN |
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| Mon 27 Aug 2007 |
| At least two new ski centre projects will be launched very soon on Rila Mountain, Bulgarias highest peak.The main investor in the new resort PanichishteEzerataKaboul is Rila Sport, Capital weekly reported. Investment company Fairplay also announced its intentions to invest 50 million euro in the same project. A Russian company intends to build 30 houses in the same region. ...more |
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| PARTIAL HOUSE SALES DEMAND IN BULGARIA EXCEEDS SUPPLY |
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| Mon 27 Aug 2007 |
| Offering part of a house for sale is a real estate market segment that is better developed in smaller Bulgarian cities than in the capital. According to research carried out at the request of investor.bg, property owners who want to sell part of their house are usually people who are not able to maintain the whole space. Potential buyers are usually people who can not afford to buy an entire house. Others are ...more |
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| PROPERTY DEALS WITH BULGARIANS LIVING ABROAD INCREASE BY TEN PER CENT |
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| Fri 24 Aug 2007 |
| Bulgarians working and living abroad rank among the main residential property buyers in Bulgaria in the summer. Real estate agency Address registered a ten per cent increase of such deals on annual base, investor.bg reported. Bulgarian clients living abroad are divided into three groups depending on their jobs, brokers said. The first group includes Bulgarians working in Europe on low or average positions willing ...more |
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| 60 MILLION EURO TO BE INVESTED IN TRADE PARK IN BULGARIAS BOURGAS |
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| Fri 24 Aug 2007 |
| UK fund European Convergence Development Company Ltd ECDC announced that it has signed a preliminary contract with Bulgarian Sienit Holding Ltd for land purchase in the coastal city of Bourgas. The terrain will be used for the construction of a mall with supermarkets and trade areas, called Bourgas Retail Park, investor.bg reported. The fund will participate in the project with 70 per cent. It will provide a loan of ...more |
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| EQUEST TO INVEST 40 M EURO IN ANCIENT TOWN CONSTRUCTION IN BULGARIAS SOZOPOL |
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| Thu 23 Aug 2007 |
| Immofinance, part of the UK investment fund Equest, has launched the construction of a resort village two km to the south of the coastal town of Sozopol. The company will invest 40 million euro in the project, called Sozopolis, 24 Chassa daily reported. Sozopolis will span nearly 90 000 sq m, but the gross build up area will be only 34 000 sq m. Low buildings, green areas and a 1500 sq m spa centre with mineral water ...more |
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| CONSTRUCTION OF BULGARIAS BOROVETS NEW LIFT BEGINS |
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| Thu 23 Aug 2007 |
| Construction of the first gondola lift above the town of Samokov will begin in October 2007. The construction is part of the Super Borovets project and will continue 12 months, Monitor daily reported. The capacity of the new facility will be 2500 people an hour and its speed will be six metres a second. Borovetss new lift will reach the Markudjitsi ski runs and its route will be 9.2km long. ...more |
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| 200 000 SQ M OF MALLS CONSTRUCTED IN BULGARIA COLLIERS |
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| Tue 21 Aug 2007 |
| A total of 201 000 sq m of mall retail space is under construction in Bulgaria. The increase in the amount of shopping mall area was of 138 500 sq m in the first six months of 2007, Colliers International research showed.The increase could be attributed to the launching of the construction of several new big shopping projects. The construction of three major shopping centres began in 2007. Carrefour Mall and Serdika ...more |
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| BULGARIAS CAPITAL WILL GROW TO THE NORTH |
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| Mon 20 Aug 2007 |
| After the overdevelopment in Sofias northern areas in the past years, the municipality is expected to fund construction projects at the foot of Stara Planina, or Balkan, mountains.Investors in industrial property and warehouses increasingly focus their interest in the north, Capital weekly reported.Although the region has been traditionally thought of as unattractive for residents, architects have been considering ...more |
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| DEMAND FOR HOLIDAY PROPERTY AT BULGARIAS NORTH BLACK SEA OVERTAKES THE SOUTH |
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| Fri 17 Aug 2007 |
| Demand for holiday property at the north part of Bulgarias Black Sea increased substantially in 2007. The towns of Kavarna and Balchik, together with the regions near the Golden Sands and St. St. Konstantin and Elena resorts have attracted investors interest, imot.bg research showed, as quoted by Pari daily. Demand for holiday property in these regions has increased by 40 to 50 per cent in the summer of 2007, ...more |
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| DEMAND FOR APARTMENTS FOR RENT NEAR UNIVERSITIES IN BULGARIA INCREASES |
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| Thu 16 Aug 2007 |
| The rental market in Bulgaria is expected to experience substantial growth in the second half of August and the beginning of September 2007. Outside the central parts of Sofia and the other big towns in Bulgaria, which usually have high demand for rental apartments, the interest in apartments for rent near universities has been also increasing, 24 Chasa daily reported. Sofias top ten most preferred ...more |
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| RAPACIOUS INVESTORS GRAB BULGARIAS DAMS |
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| Wed 15 Aug 2007 |
| Almost all the dams in Bulgaria became target for rapacious investors over the past years. In most cases, the banks of dam lakes are being built up without zoning plans, Pari daily reported. Not a single construction project in the vicinity of Bulgarian dams has a water purification system. Bulgarian legislation bans construction near dams. Kamchia and Yasna Polyana are among the dams affected by over ...more |
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| PROPERTY INVESTMENT MARKET IN BULGARIA TO REACH 3.7 BILLION BY 2011 PROGNOSIS |
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| Tue 14 Aug 2007 |
| The volume of the property investment market is expected to grow to 3.7 billion by 2011, as compared with the current 1.7 billion. Deutsche Bank property subdivision PREEF said in a recent report that the investment market of business property in Eastern Europe would grow by 100 per cent by 2011, investor.bg reported. PREEF defined the investment market of business property as such properties that are ...more |
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| PROPERTY MARKET IN BULGARIA ENTERS NEW PHASE, SPECIALISTS RECOMMEND LONG TERM INVESTMENT |
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| Fri 10 Aug 2007 |
| A growing number of foreign investors are entering the Bulgarian property market. In addition to investors from the UK and Ireland, many Russians, Scandinavians, Austrians and Americans are also showing interest in the Bulgarian market, investor.bg reported. Market growth is expected to slow in response to increasing demand and competition in the sector over the past few years. The high annual growth rates of 20 ...more |
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| ONE IN FOUR ADULTS IN BULGARIA OWNS FARMLAND, ONE THIRD LEAVES IT UNCULTIVATED |
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| Fri 10 Aug 2007 |
| One quarter of adults in Bulgaria own farmland, but about one third do not use it, a BBSS Gallup International found in a nationally representative opinion poll conducted among 1 010 adults in 115 Bulgarian settlements in July 2007. The results of the poll were disclosed in quot;24 Chassa quot; daily on August 8. The average amount of land owned is 1 hectare. ...more |
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| SHOPPING MALL CONSTRUCTION IN BULGARIA MORE THAN DOUBLES IN FIRST HALF OF 2007 |
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| Thu 09 Aug 2007 |
| The gross leasable area of shopping malls under construction in Bulgaria has doubled in the first half of 2007 to 201 000 square metres, real estate consultants Colliers International said on August 8. Retail is the most dynamic commercial real estate sector in Bulgaria. Six malls currently operating in Bulgaria have a gross leasable area totalling 105 500 sq m. Three of them are located in the capital of Bulgaria, Sofia. ...more |
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| UK INVESTMENT FUND TO DEVELOP BULGARIAN MOUNTAIN RESORT BOROVETS |
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| Wed 08 Aug 2007 |
| UK investment fund Black Sea Property Fund Ltd has bought 124 decares of land in the mountain resort of Borovets worth 10.5 million euro to be invested in a mountain complex.The fund plans to build a complex to be used throughout the year. It will include a hotel, conference centre and various residential and holiday complexes, investor.bg reported.International architecture company Wimberly ...more |
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| BULGARIANS INCREASINGLY BUY VILLAS FAR FROM HOME |
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| Mon 06 Aug 2007 |
| The market in village property, until recently driven by interest among Irish and UK investors, is gaining popularity among Bulgarians. Instead of investing their money in holiday property at the seaside or in mountain resorts, many Bulgarians prefer to buy houses in villages so that they could use them as villas at weekends, Kapital weekly reported. Others are even ready to live in a village and commute to ...more |
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| SECURE RESIDENTIAL COMPLEXES IN BULGARIA GAIN POPULARITY |
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| Thu 02 Aug 2007 |
| Gated residential complexes are becoming ever more popular with investors in Bulgaria. Interest in such complexes is equally high at resorts and in urban areas in southeastern Bulgaria, Pari daily reported. The complexes were popular because they were closed off and because of the quality of life that they offered, the report said. Gated holiday complexes are the most popular. Investors close off the ...more |
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| 180 MILLION EURO INVESTED IN TRADE CENTRE IN BULGARIAS CAPITAL |
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| Thu 02 Aug 2007 |
| Sparkassen Immobilien AG and ECE Projektmanagement, investors in Serdica trade centre in Sofia, have announced that the construction of the centre has begun. Serdica centre will open in the autumn of 2009, ECE Bulgaria head Plamen Ilchev said, as quoted by investor.bg. Investment in the centre totals 180 million euro. The mall will cover 50 000 sq m. It will have nearly 200 shops and nearly 35 000 sq m ...more |
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| HOLIDAY PROPERTY IN BULGARIAS VELIKO TURNOVO AMONG THE LEAST EXPENSIVE IN THE WORLD |
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| Wed 01 Aug 2007 |
| 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 ...more |
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| AFRICA ISRAEL PURCHASES 76.5 MILLION EURO REAL ESTATE IN BULGARIAS VARNA |
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| Wed 01 Aug 2007 |
| Israeli conglomerate Africa Israel Investments has bought land with office buildings in Bulgarias Black Sea coastal city of Varna, a company official said. For 76.5 million euro, Africa Israel bought the existing buildings and the right to construct other buildings in the future. Africa Israel Investments business development manager Akiva Azulay told SeeNews that It is a big plot and part of it is built and the other part ...more |
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| OFFICE SPACE IN BULGARIAS CAPITAL CITY OUTSKIRTS INCREASE BY 50 PER CENT |
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| Wed 01 Aug 2007 |
| 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 ...more |
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| NEARLY 100 MILLION LEVA INVESTED IN THIRD MALL IN BULGARIAS ROUSSE |
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| Tue 31 Jul 2007 |
| A sports and entertainment hall with a trade and service centre is to be built in the city of Rousse. The project included the construction of a multifunctional hall and mall with shops, offices and a hotel, investor.bg reported. The sports hall alone will cover a builtup area of nearly 24 530 sq m. The mall, the hotel and the underground parking will total 72 300 sq m. The project will be completed within two years. ...more |
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| GOLF COURSE TO BE CONSTRUCTED IN BULGARIAS DOLNA BANYA |
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| Mon 30 Jul 2007 |
| Golf Club Ibar, an investor in the Golf Club Ibar complex in the Bulgarian town of Dolna Banya, has received a first class investment certificate for its second golf complex in the country. The Ibar 2 project would be worth 106.5 million leva and constitute part of a wider plan for the economic development of Dolna Banya municipality, investor.bg reported. The project envisions an 18hole golf course named Bears ...more |
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| INVESTORS TO DEVELOP NORTHERN PART OF BULGARIAS CAPITAL CITY |
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| Mon 30 Jul 2007 |
| Big infrastructure projects, including a new underground railway line, are to turn Sofias northern part into an attractive area for business and living. Large parks, sports and entertainment, residential developments, as well as production and logistic facilities would be constructed in the region in the next seven or eight years, Pari daily reported. Investors are already realising the potential of the northern ...more |
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| NUMBER OF MALLS IN BULGARIA GROW |
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| Thu 26 Jul 2007 |
| The number of shopping centres outside Sofia is on the rise, Index Imoti reported. Five such projects have already sprung up in Varna, one of which is under construction. Plovdiv, Stara Zagora, Rousse, Vidin and Bansko are also planned for their first shopping malls. In Sofia, retail space in shopping centres rent for 2555 euro per sq m. In Varna they cost 2060 euro per sq m, and 950 euro per sq m is the ...more |
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| TOWERS ADORN FIFTH MALL IN BULGARIAS VARNA |
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| Fri 20 Jul 2007 |
| Bulgarias coastal city of Varna will see the construction of a shopping mall worth 85million leva. The development will have 12storey towers, 70m high, and will be a mixed trade, entertainment and administrative centre, investor.bg reported. It will cover a 70 000 sq m gross builtup area. Once built, Mall Varna Towers will be the highest building in Varna. The mall will have also cinemas, bowling, restaurants ...more |
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| BULGARIAS CAPITAL CITY TO EXPAND NORTHWARDS, PROPERTY AGENTS SAY OPPOSITE |
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| Thu 19 Jul 2007 |
| Major investors plan to construct residential complexes in the northern suburbs of Sofia. Sofia chief architect the equivalent of a city planner Petar Dikov was to present the idea to the Sofia Municipal Council SMC, 24 Chassa daily reported. Dikov said that his idea was that SMC define the territories for longterm development. Companies that build in the selected areas would have to undertake to construct ...more |
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| BELGIAN INVESTORS TO BUILD ECOVILLAGE IN BULGARIAS TRYAVNA |
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| Wed 18 Jul 2007 |
| Belgian company Bel Elin plans to construct a villa settlement near the town of Tryavna. The initial investment would be worth two million euro, investor.bg said. The villa settlement will cover 20 000 sq m and will include 13 houses, a shop, restaurant, swimming pool and other facilities. Construction had already begun, investor said. Two old houses were being repaired and the restaurant was being built. The ...more |
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| CONSTRUCTION IN BANSKO RESORT FROZEN |
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| Tue 17 Jul 2007 |
| 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 ...more |
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| FUND TO INVEST 150 MILLION EURO IN PROPERTY IN BULGARIA, ROMANIA, SERBIA |
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| Thu 12 Jul 2007 |
| Investment fund SECURE Investment Ltd has announced plans to invest nearly 150 million euro in South Eastern Europe, focusing on Bulgaria, Romania and Serbia. Forty per cent of the fund is owned by Italian investment company Aedes Investissement. In February 2007 it announced plans to invest in the property market in Central and Eastern Europe, investor.bg reported. The companys strategy ...more |
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| LARGE SPA COMPLEX TO BE BUILT IN BULGARIAS VARSHETS |
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| Mon 09 Jul 2007 |
| The Bulgarian town of Varshets will boast a large spa and balneology complex, to be completed by August 2009. The complex will cover 5000 sq m with a total builtup area of nearly 15 000 sq m, Pari daily reported. The plan envisions a fivestar hotel and a holiday apartment complex. It will also have entertainment attractions, a multifunctional congress centre and various business facilities. The region of Varshets ...more |
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| 60 MILLION EURO TO BE INVESTED IN GOLF COURSE CONSTRUCTION NEAR BULGARIAS BANYA |
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| Thu 05 Jul 2007 |
| Karlovo municipality and Banya Golf and Spa Resort will discuss the opportunity for developing the town of Banya as a resort. The municipality council and the investor will discuss the possibility for a publicprivate partnership, Focus news agency reported. Investment will reach 60 million euro for the period of several years. The company to be created will have 34 per cent municipality ownership ...more |
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| TISHMAN INTERNATIONAL BEGINS CONSTRUCTION OF AIRPORT CENTRE IN SOFIA, BULGARIA |
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| Wed 04 Jul 2007 |
| Tishman International has started the construction of Sofia Airport Centre. The centre is planned to be an internationalstandard working environment in a landscaped business park setting. The centre will provide about 165 000 sq m of commercial space comprised of Class A offices, prime logistics space and a high quality hotel with dining, recreational, and conference facilities. ...more |
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| RESIDENTIAL PROPERTY PRICES IN BULGARIAS CAPITAL UP BY 5.47 PER CENT IN JUNE 2007 |
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| Wed 04 Jul 2007 |
| Residential property prices in Sofia have increased by 5.47 per cent in June 2007 compared to figures for May, reaching 820 euro per sq m, Foros real estate agency brokers said. This is the average price for all types of accommodation including panel apartments and new construction, investor.bg reported. The largest price hike was registered in the residential district of Dianabad, 9.29 per cent where ...more |
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| FOREIGNERS INCREASINGLY INTERESTED IN BULGARIAS SPA PROPERTY DESTINATIONS |
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| Tue 03 Jul 2007 |
| The interest of foreign investors in the acquisition of property located in areas having mineral springs is growing, consultants from Home for You said. Velingrad, which has already established itself as a spa destination, is growing in popularity. Research shows it is among the top destinations for both foreign and Bulgarian investors. Agents said that Velingrad had the potential to develop into a European resort and ...more |
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| PROPERTY MARKET DEVELOPMENTS IN BULGARIA UNPREDICTABLE IN FIRST HALF OF 2007 |
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| Mon 02 Jul 2007 |
| Predictions made for property market developments in the first half of the year failed coming true. The market saw dynamic developments and turned to be one of the fastest evolving segments. Price hike went beyond expectations, making agents unable to predict future growth.In the first half of the year, one and twobedroom apartments registered the biggest price increase, investor.bg reported. ...more |
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| POMORIE MUNICIPALITY IN BULGARIA TO DEVELOP ECO AND GOLF PROJECTS |
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| Fri 29 Jun 2007 |
| Pomorie municipality plans to carry out a number of eco projects aimed at transforming it into one of the first Bulgarian green regions. The projects will increase the municipalitys energy efficiency and improve the road and electricity distribution infrastructure in the region, Pomorie mayor Petar Zlatanov said as quoted by investor.bg. One of the major projects envisions the construction of a golf course ...more |
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| PROPERTY INVESTMENT RETURNS RATE RANKS BULGARIA SECOND IN EUROPE |
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| Thu 28 Jun 2007 |
| Bulgaria ranks second in Europe on the returns rate of property investment over the past 12 months, research of British consultancy company Assetz shows. According to the companys index, drafted each annual quarter, Bulgarias property investment returns reached 71 per cent over the past 12 months. Poland ranked first with 100 per cent returns, investor.bg reported. Assetz warned potential investors that ...more |
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| REAL ESTATE FUND TO INVEST 200 MILLION EURO IN BULGARIAS VARNA |
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| Wed 27 Jun 2007 |
| Investment fund Orchid Development Group will invest nearly 200 million euro in three projects in Varna by the end of 2007. The fund received a first class investment certificate for its Grand Mall project in Varna, investor.bg reported. The other two projects focus on the construction of an office building with a total area of 25 000 sq m and a complex of mixed type having residential part, offices and trade centre. Its gross ...more |
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| RESIDENTIAL PROPERTY PRICES IN BULGARIA TO INCREASE 10 PER CENT BY END OF 2007 |
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| Tue 26 Jun 2007 |
| Residential property prices in Bulgarias large cities are expected to increase 10 per cent by the end of 2007, predictions of real estate agency ERA Bulgaria show. Residential property prices in Sofia went up 16 per cent in the first quarter of 2007 and those in Varna 18 per cent as compared to figures for the last quarter of 2006, ERA managing director Teodora Dimitrova said as quoted by investor.bg. ...more |
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| PROPERTY INVESTMENT PROFITABILITY IN BULGARIA DECREASES NEARLY TWICE |
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| Mon 25 Jun 2007 |
| Profitability of real estate deals in Bulgaria decreased nearly twice since 2002, research of Creditex showed. Creditex representative Krasimir Goumnishki said that a 100 sq m apartment in Sofias residential district of Mladost brought nine per cent profitability in 2002, which had now fallen to 4.11 per cent. The same tendency was valid for all of Sofias residential districts, Goumnishki said. According to the research, the ...more |
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| HEAVY CONSTRUCTION, SOME OF WHICH ILLEGAL, ONGOING IN BULGARIAS BANSKO RESORT |
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| Mon 25 Jun 2007 |
| One of the most often seen vehicles in Bulgarias Bansko winter resort is a heavyloaded truck, Capital weekly reported. Bansko mayor Alexander Kravarov told Capital several months ago that none of the constructions were illegal. Soon after, the Supreme Administrative Prosecution ordered inspection of all projects. Results presented three months later revealed that inspectors found irregularities in nearly half ...more |
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| MOST EXPENSIVE COASTAL RESORT SHOPS LOCATED IN BULGARIAS SUNNY BEACH |
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| Mon 25 Jun 2007 |
| The coastal resort of Sunny Beach offers the most expensive shops among Bulgarian Black Sea resorts. Property buyers willing to invest in shops at Black Sea resorts should consider that this could be a good but also very risky investment, investor.bg reported. Those looking for yearround turnover invest in property in Bourgas and Varna. Investors looking for seasonal sales prefer newly developed hotel complexes in ...more |
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| RESIDENTIAL PROPERTY PRICES IN BULGARIAS VARNA INCREASE MORE THAN EXPECTED |
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| Fri 22 Jun 2007 |
| Residential property prices in Bulgarias 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 ...more |
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| BUSINESS PROPERTY DEVELOPMENTS IN BULGARIA BEHIND CENTRAL EUROPEAN LEVELS |
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| Wed 20 Jun 2007 |
| Business park developments in Bulgaria are three to seven years behind Central European levels, Industry Watch reported. Fast economic growth, EU accession and increase in foreign investment feature among the main factors influencing business park development in Central and Eastern Europe, investor.bg reported. Investor interest in Bulgaria changed its direction from Sofia to other economically developed cities ...more |
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| POLISH COMPANY TO INVEST 90M LEVA IN MALL CONSTRUCTION IN BULGARIAS VARNA |
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| Wed 20 Jun 2007 |
| Polish company Globe Trade Centre GTC will provide funding for nearly 95 per cent of the construction of Gallery Varna mall. Investment will total 89 million leva, investor.bg reported. This is the fourth mall project to be launched in the coastal city of Varna since the beginning of 2007. The project is still awaiting construction permit. Construction works will be finalised by the end of 2009. Annual rental income is ...more |
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| PRICE OF RESIDENTIAL CONSTRUCTION PROJECTS IN BULGARIA TO INCREASE |
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| Wed 13 Jun 2007 |
| The price of residential construction projects will increase on the average by two to three euro per sq m this autumn. Design and planning of office property will cost 20 to 30 per cent more than work on residential projects, chamber of architects representative Dimitar Mladenov said. Mladenov took part in a discussion on the problems of the architecture and construction sectors. New ways to calculate the ...more |
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| BULGARIA MAINTAINS LEADING POSITION IN PROPERTY MARKET ATTRACTIVENESS RANKING |
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| Thu 07 Jun 2007 |
| Bulgarias capital of Sofia ranks third in property market attractiveness according to recent research of Global Property Guide GPG. The ranking included 12 European capitals and placed Bratislava and Istanbul at the first two positions. GPG compared several factors including prices per sq m, annual rental income, taxes, transaction costs, GDP and legislation in the country, investor.bg reported. ...more |
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| BULGARIA CONFIRMING ITS POSITION AS IMPORTANT PROPERTY MARKET SEGMENT |
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| Wed 06 Jun 2007 |
| Bulgarias participation in the 58th congress of the International Real Estate Federation FIABCI showed that the country gains popularity as a serious segment of the international real estate market.The forum took place from May 28 to June 2 in Spains Barcelona, Focus news agency reported. Representatives of the largest companies in the sphere of real estate, financing and banking institutions took part in the event. ...more |
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| SOFIA AIRPORT CENTRE CONSTRUCTION LAUNCHED IN BULGARIA |
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| Tue 05 Jun 2007 |
| On June 5 Sofia mayor Boiko Borissov, US ambassador to Bulgaria John Beyrle and British ambassador to Bulgaria Jeremy Hill launched the construction of Sofia Airport Centre. The 250 million euroworth business park will spread on a total area of 165 000 sq m. Nearly 100 000 sq m of the total area will be developed as class A office space. The centre will also have industrial and logistics areas, as well as a hotel. ...more |
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| RESORTS IN BULGARIA TO SEE RESIDENTIAL PROPERTY CONSTRUCTION BOOM |
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| Tue 05 Jun 2007 |
| Most of the apartments to be constructed in Bulgaria will be located near the countrys biggest resorts. Residential property projects totaling 1.77 million sq m in area received construction permits in the first three months of 2007, Sega daily reported. National Statistical Institute NSI data showed that 75 per cent of these apartments will be located in the regions of Bourgas, Varna and Dobrich at the seaside ...more |
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| PRICES OF NEW APARTMENTS IN BULGARIAS BOURGAS DECREASE, HIKE REGISTERED IN SOFIA |
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| Mon 04 Jun 2007 |
| Average prices of new apartments in some regions of Bulgarias coastal town of Bourgas went down in May. Apartment prices in the centre of Bourgas decreased by four per cent to 1050 euro per sq m and by six per cent in the regions near the centre compared to April figures, real estate agency Foros said as quoted by investor.bg. Prices in the regions near Bourgas remained unchanged. Prices in Sarafovo varied ...more |
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| OFFICE PROPERTY RENTS IN BULGARIAS CAPITAL AMONG 50 HIGHEST WORLDWIDE |
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| Mon 28 May 2007 |
| The office rents in Sofia rank as the 49th highest worldwide, research of consultancy company CB Richard Ellis CBRE shows. Annual office rent expenditure in Sofia reached 517.3 per sq m, or 43.1 per sq m per month. London keeps its first place in the chart. Office rents in some of its most expensive parts reach 2596.5 on annual basis. Tokyo takes the next positions in the chart. The charts top 10 remain almost ...more |
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| 100 MILLION EURO INVESTED IN VACATION VILLAGE NEAR BULGARIAS RAZLOG |
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| Wed 23 May 2007 |
| Villa complex Rila View, to be constructed near the town of Razlog, is a development that will see investment of nearly 100 million euro. This is one of the largest projects to be carried out in the region, Razlog municipality said. Rila View Village Ltd will execute the project. The company has signed an agreement with Razlog municipality on October 31 2006 and is expected to finish work in five years, investor.bg ...more |
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| ILLEGAL CONSTRUCTIONS IN BULGARIAS ISKUR DAM REGION TO BE TORN DOWN |
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| Tue 22 May 2007 |
| The Directorate for National Construction Control DNCC issued 18 orders for the removal of illegal constructions in the Iskur Dam region.Once these orders are enforced, owners will be asked to tear down the building voluntarily, DNCC representative Krasimir Petkov said. In March DNCC issued nine orders and nine more were issued in May, so that their total number reached 18. Five of the buildings are grouped ...more |
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| US INVESTORS COMPLAIN OF EXPENSIVE PLOTS IN BULGARIAS CAPITAL |
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| Mon 21 May 2007 |
| Land owners in Sofia and Bucharest speculate with land prices, agents said. Most land owners fail to understand how land prices are formed and offer high prices because of the high demand, investor.bg reported. The land price should add up to no more than 20 per cent of the total value of a residential project, US investment fund Heitman said during a discussion on residential property market in Bulgaria, Romania ...more |
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| VACATION PROPERTY MARKET IN BULGARIA SATURATED, BETTER INFRASTRUCTURE NEEDED |
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| Fri 18 May 2007 |
| Over the past few years, property supply has exceeded demand in Bulgarias leading resorts. The vacation property market is reaching its saturation point and a number of resorts already suffer from overconstruction and the lack of proper infrastructure, participants in the first Balkan real estate conference BalRec said. In order to attract new clients, resorts should start offering unique projects and better ...more |
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| CONSTRUCTION PERMIT TAXES IN BULGARIAS CAPITAL TO INCREASE |
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| Thu 17 May 2007 |
| The construction permit taxes in Bulgarias capital will increase gradually, Sofias chief architect Petar Dikov said. The process will probably start in the coming year, Dikov said during the first Balkan real estate conference BalRec. Sofia can accumulate the funds needed for infrastructure development only through tax increase, Dikov said. Taxes in Belgrade vary between 250 and 430 euro per sq m and are ...more |
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| AVOID INVESTING IN BULGARIA UK CONSULTANTS |
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| Fri 11 May 2007 |
| UK consultancy company TRI Investments warned potential real estate investors to avoid investing in European resorts such as those in Bulgaria, France and Italy. The warning came after companies shares fell on the real estate stock exchange in Madrid, citywire.co.uk said, as quoted investor.bg. TRI Investments managing director Chris Finch said that his company was initially enthusiastic about opportunities for ...more |
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| HOTELS AT BULGARIAS BLACK SEA COAST LEFT UNSOLD |
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| Thu 10 May 2007 |
| Investors in Bulgarias coastal regions are failing to find buyers for their newlybuilt hotels. Nearly 30 new hotels were offered for sale over the past year, 24 Chassa daily reported. Only 250 hotels were on sale in southern coastal regions. The hotels are being sold in all stages of construction. The average price is 856 euro a sq m. Most of the hotels for sale were in the resorts of Sveti Vlas St Vlas, Slunchev Bryag ...more |
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| COMMERCIAL PROPERTY MARKET IN BULGARIA TO GROW BY 300 PER CENT |
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| Tue 08 May 2007 |
| The commercial property market in Bulgaria is expected to grow by 300 per cent in the next three to five years, Colliers Bulgaria real estate agency head Atanas Garov said. Garov took part in a conference linked to the upcoming Balkan Property exhibition BalPex, investor.bg reported. All sectors of the property market had been developing dynamically and investment was expected to increase in the next ...more |
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| BULGARIAN SPA PROJECTS BOOST PROPERTY PRICES |
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| Mon 07 May 2007 |
| Bulgarias State Agency for Tourism says that the number of tourists visiting spa resorts will increase by 75 per cent in the next three or four years. Investors have been working on spa tourism projects for a long time, Kapital daily reported. There are spa centre and hotel construction projects in, among other places, the wellknown destinations Sandanski, Kyustendil and Apriltsi. These regions boast ...more |
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| APARTMENT PRICES IN BULGARIAS CAPITAL SLIGHTLY INCREASE IN APRIL |
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| Fri 04 May 2007 |
| Prices of apartments in Sofia slightly increased in April, data of Foros real estate agency showed. The average price increase in Sofia for new construction, panel buildings and brickmade buildings for April is 4.42 per cent. Lozenets residential district experienced an increase of 10.77 per cent. Prices there reached 1080 euro per sq m. The increase was attributed to smaller number of offers while the interest remained ...more |
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| PROPERTY AGENTS IN BULGARIA EXPECT LOSSES BECAUSE OF NATURA 2000 |
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| Thu 03 May 2007 |
| Real estate investment can be redirected from Bulgaria to the neighbouring countries because of the introduction of the European environmental network Natura 2000 and the construction limitations related to it. Potential investors are worried because of these developments, agents said as quoted by 24 Chassa daily. Worries focus on traditionally popular areas like the Black Sea coast and the ...more |
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| REAL ESTATE PROJECTS IN BULGARIA PRESENTED DURING INTERNATIONAL EXPO |
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| Wed 02 May 2007 |
| Bulgaria will take part in the largest real estate exhibition SIMA starting May 29 in Madrid. Investors and real estate agencies will participate with projects worth over 400 million euro, Pari daily reported. Projects for two holiday villages feature among the largest developments to be presented at the expo. The first one is named Topola Village Resort, the construction of which will start in the summer of 2007. It will be located ...more |
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| EU ACCESSION INCREASES RESIDENTIAL PROPERTY PRICES IN BULGARIA |
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| Wed 02 May 2007 |
| The price increase of residential property in Bulgaria after the countrys EU accession is sufficiently higher than expected, research ordered by investor.bg showed. The price hike concerns both old and new construction in Sofia and in other bigger cities and towns. The prices per sq m went up three to 12 per cent in Sofias residential disitrcts of Lyulin, Mladost and Nadezhda. In some parts of the residential districts, ...more |
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| NEARLY 330 EXHIBITORS TAKE PART IN PROPERTY AND INVESTMENT EXPO IN POLAND |
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| Mon 30 Apr 2007 |
| Nearly 330 exhibitors from 18 countries took part in the 16th edition of International Property, Investment and Finance Fair REFE, an increase of 12 per cent in comparison to figures for the previous year. REFE took place from April 20 to 22 in Poland. In the investment part of the 16th REFE banks, property managers, city and commune councils presented property investment opportunities. Discussions on finance ...more |
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| EU ENTRY MAKES BULGARIA ATTRACTIVE TO SECOND HOME PROPERTY SEEKERS |
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| Mon 30 Apr 2007 |
| Foreigners buying property in Bulgaria are aware of local regulations since in most cases they use the services of Bulgarian companies that deal with legal issues, representative of Home for You Ivan Goranov said. Goranov responded to an article that appeared in Daily Express saying that a number of British property seekers were cheated in Bulgaria. Problems occurred since foreigners do not own the land on ...more |
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| LAND PRICES IN THE CENTRE OF BULGARIAS CAPITAL SLIGHTLY INCREASE IN APRIL |
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| Fri 27 Apr 2007 |
| The average price of land in the centre of Sofia increased by 1.07 per cent in April, the national real estate company Foros said. Prices reached 1 700 euro per sq m, which is the highest average price for land in Sofia so far, investor.bg reported. Second ranks the region near Sofias Medical Academy, where land prices reached 1 394 euro per sq m. Third is the residential district Zona B19 with prices of 1 268 euro per ...more |
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| EUROPEAN EXPERTS TO EVALUATE PROJECTS IN BULGARIAS POTENTIAL NATURA 2000 AREAS |
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| Fri 27 Apr 2007 |
| Representatives of the Environment Directorate General of the European Commission will come to Bulgaria in connection to the introduction of the Natura 2000 environment preservation network.Projects to be carried out in the potentially included areas will undergo environmental evaluation first, Environment and Water Affairs Ministry said. EC representatives said that Natura 2000 does not aim to ban ...more |
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| LOGISTICS PARK VARNA GETS BULGARIAS FIRST CLASS INVESTOR CERTIFICATE |
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| Wed 25 Apr 2007 |
| Logistics Park Varna got a first class investor certificate on April 25.The centre is being set up in the industrial zone of the coastal city of Varna. Upon completion it will have built up area of over 80 000 sq m. The centre will have storage areas, office space and retail centres meeting international requirements. FairPlay International and Bulgarian Property Developments feature among the project investors. ...more |
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| BUSINESS PROPERTY DEVELOPMENTS GAIN POPULARITY IN BULGARIA |
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| Wed 25 Apr 2007 |
| Investor interest in business property in Bulgaria grows. Most investors plan developments like retail centres, real estate agents said. Bulgaria faces numerous problems related to retail and office space, investor.bg reported. Figures for Bulgaria show that 160 sq m of retail space is available in Bulgaria per 1000 people. In comparison, 1000 people in Poland enjoy 520 sq m of trade area. Concerning office space, the ...more |
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| GLOBAL FINANCE INVESTS OVER 50 MILLION EURO IN CONSTRUCTION PROJECT IN BULGARIA |
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| Tue 24 Apr 2007 |
| Investment company Global Finance plans to invest over 50 million euro in the construction of a multifunctional complex in Sofia. The company has already bought a plot in Sofias residential district East worth 17 million euro, investor.bg reported. The complex will include offices, commercial and residential terrains having a total builtup area of over 40 000 sq m. Global Finances real estate investment fund Global ...more |
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| RESIDENTIAL PROPERTY PRICES IN BULGARIA UP 22.6 PER CENT IN FIRST QUARTER OF 2007 |
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| Tue 24 Apr 2007 |
| The average residential property prices in Bulgaria for the first quarter of 2007 reached 988.2 leva per sq m, data of National Statistical Institute NSI showed. The price increase is 9.3 per cent compared to figures for the last quarter of 2006 when the average price reached 904 leva per sq m, investor.bg reported. Most expensive apartments in the first quarter of 2007 were offered in the coastal city of Varna, ...more |
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| SOZOPOL TURNS INTO MOST EXPENSIVE PROPERTY MARKET ON BULGARIAS COAST |
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| Mon 23 Apr 2007 |
| The increasingly intense construction of vacation villages in Bulgarian resorts led to stagnation of the house market in the region. The coastal cities of Bourgas and Varna exhibit the most visible overconstruction, investor.bg reported. The number of houses offered for sale in each of the two towns reached 1100. Most potential buyers look for property located close to the beach, which limits the chances of some owners to ...more |
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| HOTELS PROJECTS RECEIVE APPROVAL IN BULGARIAS HISARYA SPA RESORT |
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| Sat 21 Apr 2007 |
| At least eight projects for hotel construction in Bulgarias Hisarya spa resort have already received approval, Hisarya municipality said.The town is famous with its healing mineral springs, investor.bg reported.Bulgarian and foreign investors showed their interest in the town. Large plots feature among the most wanted terrains for the construction of hotels, spa centres and smaller vacation houses. ...more |
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| DUTCH REAL ESTATE FUND INTERESTED IN BULGARIA |
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| Fri 20 Apr 2007 |
| Real estate fund Bouwfonds Property Development BPD, part of Dutch financial group Rabobank is investigating the execution of a project in Bulgaria. The fund is also interested in investment projects in Romania and other countries in the region, investor.bg reported. BPD representatives said that it was early to make specific plans but a decision is to be taken within six months. The company will focus on ...more |
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| OVERCONSTRUCTION BRINGS DOWN PRICES IN BULGARIAS RESORTS SIGNIFICANTLY |
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| Fri 20 Apr 2007 |
| Overconstruction of coastal resorts is a fact and represents major setback to the development of Bulgarias resorts, head of the National Tourism Board Georgi Gergov said. Foreigners pay 120 euro for a weeklong vacation, Gergov said. The sum includes airport ticket, as well.Only an inexpensive offer can compensate for the overconstructed resorts and the poor conditions there, Gergov said. ...more |
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| CONSTRUCTION IN BULGARIAS COASTAL RESORTS BANNED DURING SUMMER SEASON |
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| Thu 19 Apr 2007 |
| Bulgarian government will impose a construction ban in all Black Sea coastal resorts during the summer season. The draft law for Bulgarian Black Sea coastal development was approved on second reading on April 19. The ban will include all resorts and vacation villages and will be valid in the period from May 15 to October 1. Urgent repair works in the resorts will be the only exceptions allowed. ...more |
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| SECOND MAJOR TOURISM COMPLEX TO BE SET UP CLOSE TO BULGARIAS BOROVETS |
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| Thu 19 Apr 2007 |
| A project similar to Super Borovets will be the second major development in the region of Borovets mountain resort. The tourism complex will be set up close to Maliovitsa, 24 Chassa daily reported. The zoning plan is currently drafted and will be finalised by May. According to plans, the project will feature five tourism zones that will accommodate between 8000 and 10 000 tourists. The complex will have ...more |
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| CONSTRUCTION IN BULGARIAS SOZOPOL BANNED DURING SUMMER SEASON |
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| Wed 18 Apr 2007 |
| A construction ban will be imposed in the coastal town of Sozopol and will be valid from May 15 to September 30. The ban was enforced in connection to summer season 2007 and tourist visits to the coastal area. Investors have to stop work on all projects in Sozopol and the nearby resorts. Construction companies also have to clean the sidewalks and the surrounding areas from building materials and renew ...more |
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| SPANISH COMPANY INVESTS ONE BILLION EURO IN REAL ESTATE AND ENERGY PROJECTS IN BULGARIA |
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| Wed 18 Apr 2007 |
| Spanish company Ferry Group will invest nearly one billion euro in one real estate and one energy project. The company focused its investment plans on tourism, real estate and agriculture as the key economy sectors in Bulgaria, head of Ferry Group Manuel Ferry Sanchez said. The value of each project can reach up to 500 million euro, investor.bg reported. The real estate project initially included the ...more |
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| BULGARIAS CAPITAL EXPERIENCES TRADE COMPLEX CONSTRUCTION BOOM |
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| Mon 16 Apr 2007 |
| Bulgarias capital experienced a real boom in the sphere of commercial complex construction in 2006, Italian financial daily Il Sole 24 Ore reported. The newspaper said that four new retail centres opened doors in 2006 and 11 malls are still under construction. The report also mentions Sofias problems with the lack of proper infrastructure, public transport and refuse collection systems. ...more |
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| PROPERTY SALE AND RENT PRICES IN BULGARIAS CAPITAL EXPERIENCE DIFFERING TRENDS |
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| Thu 12 Apr 2007 |
| Apartment prices in Bulgarias capital continued climbing in the first months of 2007. Rent prices, however, experienced different trends.In bigger cities, rent prices increased gradually, 24 Chassa newspaper reported. In Sofia, some rent prices decreased, mostly for smaller apartments. Price decreases vary from eight to 20 per cent. Similar percentage increase is registered concerning other types of ...more |
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| BULGARIAS BOURGAS STOPS ISSUING CONSTRUCTION PERMITS DURING THE SUMMER |
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| Wed 11 Apr 2007 |
| The coastal city of Bourgas will refrain from issuing construction permits until the end of summer season 2007. Bourgas mayor Yoan Kostadinov already issued an order that will be effective from June 4 to September 10. The ban will affect the beach area and the central parts of Bourgas, investor.bg reported. Emergency construction works and underground infrastructure projects will be carried out. Projects that ...more |
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| MORTGAGED PROPERTY MARKET IN BULGARIA FAILS DEVELOPING |
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| Mon 09 Apr 2007 |
| The market of mortgaged residential and commercial property in 2007 experienced a slight decrease as compared to sales figures for 2006.The most frequent reason for the sale of mortgaged properties is the inability of owners to pay their monthly installments, investor.bg reported.Only 30 mortgaged properties are currently offered on the market in Sofia and their number in the past six months remains ...more |
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| BULGARIAS PROPERTY MARKET REACHING SATURATION POINT REPORT |
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| Tue 03 Apr 2007 |
| Bulgarias real estate market would soon reach its saturation point, while Romania still had options to develop, The Diplomat Bucharest reported. Some areas in Bulgaria are already overdeveloped, agents said. Coastal resorts like Sunny Beach experienced overconstruction, which in turn affected the plans of investors. Coastal areas in Bulgaria and Romania, as well as the region surrounding the capital cities offer ...more |
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| UK FUND INVESTS IN HOLIDAY VILLAGE NEAR BULGARIAS BANSKO |
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| Tue 03 Apr 2007 |
| UK investment fund Lewis Charles Sofia Property Fund will provide finance for the construction of a holiday village near the village of Banya, not far from the Bulgarian ski resort of Bansko. The fund already signed a contract with Bulgarian Winslow Developments to regulate and develop the project, Bulgarian National Radio BNR reported. The project in Banya envisages holiday village including tennis courts, ...more |
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| PROPERTYWISE ANALYSES EU ENTRY IMPACT ON BULGARIAS PROPERTY MARKET |
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| Mon 02 Apr 2007 |
| The first 2007 issue of PropertyWise, the specialised real estate magazine of Sofia Echo Media, is already available online. At www.propertywisebulgaria.com readers can learn more about the impact that Bulgarias EU entry had on the local property market. On January 1 2007 Bulgaria achieved its long pursued goal and became member of the EU. Real estate agents predicted that the accession will ...more |
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| WINTER RESORT IN BULGARIA DECREASES FACILITY USAGE FEES |
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| Thu 29 Mar 2007 |
| The daily ski card in Borovets winter resort will now cost 20 leva. The resort decided to take down all prices towards the end of the ski season. The threeday card, enabling usage of all facilities, costs 56 leva and the sixday card is worth 104 leva. Hotels also decreased accommodation prices. Some of them offer special summer packages to attract tourists, Focus news agency reported. Other offers ...more |
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| YET ANOTHER PROPERTY BOOM EXPECTED IN BULGARIA AND ROMANIA |
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| Wed 28 Mar 2007 |
| Though Spain and Greece remain attractive destinations for Italians looking for property abroad, Southern Europe also emerged as a possible market. Spain and Greece still offer good price to quality ratio, La Stampa newspaper reported. Bulgaria and Romania were to see yet another property market boom, predictions of research institute Scenari Immobiliari showed. Bulgaria, Croatia and Slovenia are the newly ...more |
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| PROPERTYWISE FOCUSES ON ALTERNATIVE PROPERTY DEVELOPMENTS IN BULGARIA |
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| Mon 26 Mar 2007 |
| The April May 2007 issue of PropertyWise magazine, the specialised real estate publication of Sofia Echo Media, will be on sale starting March 30. Alternative developments, environmental assessment of property projects and ecological requirements will feature among the issues topics. PropertyWise will also analyse the manner in which the snowless winter season affected the property market in Bulgarias ...more |
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| PROPERTY BOOM STILL ONGOING IN BULGARIA REPORT |
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| Fri 23 Mar 2007 |
| In an article entitled On Course for a Building Bonanza, The Independent reported that Bulgarias property boom continues. Initially Bulgaria attracted investors with the low prices but is now moving up in the international property market. Coastal resorts continue attracting the majority of buyers, the report said. Several major projects are carried out at the moment and promise to offer highest quality upon ...more |
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| VACATION PROPERTY SUPPLY IN BULGARIAS WINTER RESORTS INCREASES FOUR TIMES |
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| Tue 20 Mar 2007 |
| The supply of vacation property in Bulgarian winter resorts increased nearly four times within the past 18 months, Colliers International market research showed. From June 2006 to December 2006 vacation property offering increased by 50 per cent and the current number of offered properties is nearly 18 000, Bulgarian National Radio reported. Nearly two thirds of the vacation property for sale can be found in ...more |
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| FOREIGN PROPERTY INVESTORS TO SHOW INCREASING INTEREST IN BULGARIAS BOROVETS REPORT |
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| Tue 20 Mar 2007 |
| The ski resort of Borovets is going to become increasingly attractive for foreign property seekers, Asta Bridge executive director Anton Pankev said. During the coming winter season Borovets is to see a number of major projects, Pankev said. The execution of such plans was going to attract further interest, he said. Upon completion new property in the resort will be offered ...more |
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| OVER 29 OF BULGARIAS PROPERTY DEALS INVOLVE FOREIGN INVESTORS |
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| Mon 19 Mar 2007 |
| Over 29 per cent of the property deals concluded in Bulgaria in 2006 involved foreign participation, executive director of real estate company Asta Bridge Anton Pankev said. Nearly 66.87 per cent of all foreigners who bought property in Bulgaria came from UK, he said as quoted by Bulgarian National Radio. The British interest was attributed to regular flights between Bulgaria and the UK. Irish investors concluded nearly 13 ...more |
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| COURT TO DECIDE ON CONSTRUCTION IN BULGARIAS STRANDZHA PRESERVE |
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| Mon 19 Mar 2007 |
| On March 19 and 20 the Supreme Court of Administration will examine the litigations of Tsarevo municipality and Crash 2000 company concerning a construction ban in Strandzha preserve. The ban was introduced in 1995, as Strandzha was considered protected area. In case the ban is lifted, construction in the natural area will become possible and the preserve will cease to exist. In November 2006, ...more |
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| MALLS IN BULGARIAS CAPITAL THREATEN OPEN MARKETS EXISTENCE |
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| Mon 19 Mar 2007 |
| The construction of large retail areas and modern trade centres puts under question the existence of small shops in the residential areas of Sofia. Shop owners are still optimistic and seem to be doing nothing to keep customers, whose number decreases with every newly opened mall, Capital weekly reported. The shops tenants are constantly changing but the owners still refuse to lower prices, a saleswoman in ...more |
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| HOTEL CONSTRUCTION VIOLATIONS EXAMINED IN BULGARIAS BANSKO |
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| Fri 16 Mar 2007 |
| Starting March 19 the Directorate for National Construction Control DNCC will launch a series of inspections concerning hotel construction in the winter resort of Bansko. The first inspection phase will last until March 28 and will target hotels under construction and the ones set up from 2004 to 2006, mediapool.bg reported. For that period, Bansko municipality issued more than 400 hotel construction permits. In case all ...more |
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| UK PROPERTY BUYERS AS INTERESTED IN BULGARIA AS IN FRANCE |
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| Fri 16 Mar 2007 |
| The interest of British property seekers in Bulgarian property steadily increased over the past three months, This is Money financial website reported. Nearly 12 per cent of the inquiries for funds to buy property abroad came concerning property in Bulgaria as compared to 14 per cent for France, the report said. In some regions of Britain, property buyers were even more interested in Bulgaria than in France. Spain and ...more |
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| LATVIA AND BULGARIAS PROPERTY MARKETS SHOW GROWTH POTENTIAL |
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| Thu 15 Mar 2007 |
| Bulgaria and Latvia are among the destinations pointed as the next big thing in the property investment market. UKs advice website BuyAssociation spokesman Paul Collins told Real Estate TV that these destinations offered the best potential returns in longer term.Economic and tourism growth potential in Bulgaria and Latvia was quot;at a steady but assured pace. quot; Collins said that many of the countries which ...more |
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| NEW COMPLEX TO OFFER 900 NEW RESIDENTIAL UNITS IN BULGARIAS CAPITAL |
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| Wed 14 Mar 2007 |
| On March 15 the construction of a new residential complex will be launched in Bulgarias capital of Sofia. Residential Park will be built on 235 000 sq m and upon completion will feature more than 900 residential units, Bulgarian news agency BTA reported. Sofia mayor Boiko Borissov will attend the March 15 ceremony together with Bavarian minister of economics, transportation and technology Erwin ...more |
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| PROPERTY PRICES IN BULGARIAS CAPITAL TO REMAIN STABLE COLLIERS |
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| Tue 13 Mar 2007 |
| Prices of property in Sofia will remain stable, while quality of construction and additional services offered will increase. Property purchasers are also to become more demanding. The property market in Sofia enters a more mature phase, Colliers International shortterm prediction said. Residential property supply is increasing and residential complexes of closed type are very popular, Colliers said. ...more |
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| BRITONS WARNED ABOUT PROPERTY INVESTMENT IN BULGARIAS RESORTS |
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| Mon 12 Mar 2007 |
| Britons were warned to be careful when buying property in Bulgaria, because it could turn out that they are buying in resorts established illegally. Low prices and nice climate made Bulgaria one of the most popular destinations for British property investors, but the homes bought in the coastal resort of Golden Pearl may end up demolished, Daily Mail said. The resort was built in Strandzha preserve, which ...more |
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| PARLIAMENT IN BULGARIA TO VOTE ON CHANGES IN FOREIGNERS OWNERSHIP RIGHTS |
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| Thu 08 Mar 2007 |
| Bulgarian Parliament discussed on second reading the changes in the law for ownership including a change from a banning to a restrictive regime of ownership for foreigners. Parliament will vote the texts on March 9, Parliament speaker Georgi Pirinski said. According to the ownership ban foreign citizens and companies do not have the right to own land in the country. Law changes will give the right of land ...more |
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| PROPERTY DEMAND GOES DOWN WHILE PRICES INCREASE IN BULGARIA |
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| Mon 05 Mar 2007 |
| Property prices in Bulgaria increased by 10 per cent since the beginning of 2007, CreditCenter consultancy company data showed. Residential property market was calm as a result of the high prices, Focus news agency said. The supply was significant, but prices were too high and failed to meet the standard of the property. Most Bulgarians took bank credits to purchase property, CreditCenter said. Bulgarians covered ...more |
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| NEW TOURISM COMPLEX TO BE BUILT IN BULGARIAS SANDANSKI |
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| Thu 01 Mar 2007 |
| Bulgarias tourism investment company Royal Holidays will construct a complex in the town of Sandanski. The complex, called Sun Dance, will be completed by the autumn of 2007, Dnevnik daily said. Its official opening will be held in October 2007. Sun Dance will consist of a fourstar hotel and nearly 60 apartments located in 10 houses. The hotel will dispose of six onebed rooms, 66 twobed rooms and ...more |
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| INCREASING NUMBER OF BRITISH INVEST IN BULGARIAS PROPERTY SECTOR |
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| Tue 27 Feb 2007 |
| More than 30 000 Britons have invested in property in Bulgaria. The increased interest is due to the low prices and calm lifestyle in Bulgaria, which differs from that in UK, Daily Telegraph reported. The property market saw a purchase boom in the Black See coastal region as well as in the inner part of the country, particularly in the cities of Veliko Turnovo and Bansko, which is turning into a prestigious ...more |
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| CONSTRUCTION OF MALL IN BULGARIAS VARNA TO BEGIN IN SEPTEMBER 2007 |
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| Mon 26 Feb 2007 |
| Construction of MallVarna in the coastal city of Varna will start in September 2007, former Mall of Sofia CEO Eli Egozi said. The mall should be completed by September 2009, Bulgarian news agency BTA reported. MallVarna will spread on 40 000 sq m and will include office buildings and a hotel, increasing the malls total area to 60 000 sq m. Investment in the project is expected to reach 100 million euro. ...more |
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| STORAGE AREA DEMAND IN BULGARIA EXCEEDS RESIDENTIAL PROPERTY SEEKING |
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| Mon 26 Feb 2007 |
| The demand for uptodate warehouse facilities in Bulgaria is higher than the demand for residential property. High interest in modern warehouses resulted from the insufficient number of renewed such facilities, real estate consultant Colliers International said. The demand for warehouses will continue to increase in connected to EU food industry requirements. Supply on the residential property market is too ...more |
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| RUSSIANS SHOW INCREASING INTEREST IN BULGARIAS PROPERTY SECTOR |
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| Mon 26 Feb 2007 |
| Domexpo 2007 exhibition ended in Moscow on February 25. Nearly 40 Bulgarian companies took part in the real estate expo. A total of 270 participants took part in the forum. Queues of visitors formed because high number of people wanted to examine and select a property in Bulgaria, Bulgarian National Radio reported. Traditional destinations like Spain and Cyprus turned out to be less popular than Bulgaria at ...more |
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| ENTERTAINMENT PROPERTY PROJECTS IN BULGARIA HAVE POTENTIAL, RETAIL MARKET SATURATED SOON |
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| Fri 23 Feb 2007 |
| Sofia offered some good opportunities for investment in the property sector, chief architect Petar Dikov said. The land market has potential to develop, Dikov said. Though a zoning plan was accepted last year, it will be updated soon to give potential investors a clearer picture.Though some parties are beginning to say that the residential market is beginning to get saturated, I believe it is still quite open, Dikov said. ...more |
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| OFFICE PROPERTY MARKET IN BULGARIA TO CONTINUE GROWING REPORT |
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| Thu 22 Feb 2007 |
| Though it was unpopular until 2003, the Bulgarian office property market is growing and is expected to evolve further, Landmark Property management board chairman Richard Macdonald said. Macdonald took part in the first ever property international press tour in Bulgaria. Sofia Echo Media and Central European Property Investment Forum CEPIF feature among the organisers of the event ...more |
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| MALL CONSTRUCTION IN BULGARIA HALTED DUE TO BIDDING PROCEDURE DISORDER |
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| Thu 22 Feb 2007 |
| Stara Zagoras municipal council will stop the sale of a 9260 sq m area, where a 70 million leva trade centre had to be set up. A tender violation stands behind the decision. The municipality launched a tender to sell the lot in 2005. Two companies, local Agrosun and German Kaufland took part in the procedure, Dnevnik daily said. Agrosuns offer was higher, but was excluded from the procedure because of a sign offer ...more |
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| RUSSIAN PROPERTY INVESTOR ENTERS BULGARIAS PROPERTY MARKET |
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| Wed 21 Feb 2007 |
| Russian group of companies MIAN announced that it will construct an office centre in Sofia. Sergei Ozerov, general manager of MIAN said that the group had paid 10 million euro for a plot of 5000 sq m in Sofia.MIAN planed to construct an office complex of 24 000 sq m buildup area which should be opened in 2008, Bulgarian news agency BTA quoted Russian media as saying. The company is in a process of ...more |
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| INVESTORS TO BUILD VILLA SETTLEMENTS IN BULGARIAS RHODOPE MOUNTAINS |
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| Wed 21 Feb 2007 |
| 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 BulgarianIrish companies already purchased ...more |
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| MALL IN BULGARIAS PLOVDIV SIGNS AGREEMENTS WITH FIRST TENANTS |
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| Tue 20 Feb 2007 |
| During a ceremony on February 20, Mall of Plovdiv signed agreements with the companies that decided to rent space in it. Plovdiv mayor Ivan Chomakov attended the event, Bulgarian news agency BTA reported.Agreements with international cinema company Cinema City, supermarket chain Piccadilly, store chain TechnoMarket and restaurant chain Happy were endorsed. Mall of Plovdiv spreads on an area of 22 ...more |
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| PROPERTY PRICE HIKE EXPECTED IN BULGARIAS PLOVDIV, SLIVEN AND YAMBOL |
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| Fri 16 Feb 2007 |
| A growth in the price of property is expected in Plovdiv, Sliven and Yambol in 2007. The property market will fail registering record growth, Industry Watch representative Georgi Stoev said. In the end of 2006 economists predicted growth rate in the prices of property varying between 10 and 15 per cent. Developments in the beginning of 2007 confirmed these predictions, Focus news agency reported. Some ...more |
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| 180 MILLION EURO FOR NEW MALL IN BULGARIAS CAPITAL |
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| Thu 15 Feb 2007 |
| A new commercial and business centre worth nearly 180 million euro will be constructed in Sofia. Austrian investment company Sparkassen Immobilien AG and German construction and investment company ECE Projektmanagement would provide the money for the construction, 24 Chassa daily reported. The mall, called Serdika Centre, will feature 200 shops having total area of 50 000 sq m, nearly 35 sq m of offices and ...more |
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| EU ENTRY TURNS BULGARIAS RESORTS INTO HOT PROPERTY AREAS |
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| Thu 15 Feb 2007 |
| After Bulgarias EU accession the country became more than an attractive destination for holidaymakers. In addition it attracted an increasing number of foreigners keen on buying property, Deutsche PresseAgentur DPA reported. Holiday homes worth from 400 to 2000 euro per sq m were very attractive for foreign purchasers, DPA said. Some apartments located near the beach or ski lifts reached prices ...more |
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| EU ACCESSION AFFECTS INSIGNIFICANTLY BULGARIAS PROPERTY MARKET |
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| Mon 12 Feb 2007 |
| Bulgarias EU accession failed to cause significant change in the local property market, Forton International Property Adviser representative Valeri Vulchev said. An increasing number of conservative investors was interested in the Bulgarian property market, Vulchev said as quoted by Focus news agency. An investor carrying out a project costing at least 30 million euro in less then five years is considered conservative, ...more |
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| NEW VACATION PROPERTY PROJECTS LAUNCHED IN BULGARIA |
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| Thu 08 Feb 2007 |
| More than four million sq m of vacation property are being constructed or planned in Bulgarias resorts. In Blagoevgrad region, where the resorts of Banko, Razlog and Dobrinishte are situated, construction of more than a million sq m of vacation property was planned or launched, Yavlena real estate agency data show. The areas to be constructed were two times more than the figures for 2005, 24 Chassa daily said. ...more |
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| EURELATED PROPERTY PRICE BOOM PREDICTIONS FAIL COMING TRUE IN BULGARIAS VARNA |
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| Thu 01 Feb 2007 |
| The price of property in the coastal city of Varna varied between 500 and 1500 euro per sq m, head of the Varna real estate association VANI Dobromir Ganev said. Nearly 15 000 properties were offered for sale, said Ganev. The average prices were 700 to 800 euro a sq m, Bulgarian news agency BTA reported. Predictions of major price increase related to Bulgarias EU entry have not become fact in Varna ...more |
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| PROPERTY PRICES IN BULGARIA TO GO DOWN |
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| Thu 01 Feb 2007 |
| The prices of apartments in Bulgaria would probably decrease within three to four months, Yavlena real estate agency representative Anna Katsarova said. Katsarova said as quoted by 24 Chasa daily that the reason for the price decrease was that real estate owners started speculating in 2006 with Bulgarias upcoming EU accession. Calculations were based on too high expectations for price increase. ...more |
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| HOTEL BUSINESSES IN BULGARIAS WINTER RESORTS FACE PROBLEMS DUE TO LACK OF SNOW |
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| Fri 26 Jan 2007 |
| 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 Bulgarias 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, ...more |
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| PROPERTYWISE EXAMINES EU ACCESSION IMPACT ON BULGARIAS PROPERTY MARKET |
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| Thu 25 Jan 2007 |
| The first issue of PropertyWise magazine for 2007 is coming out on Friday January 26. After a year of predicting and projecting how Bulgarias European Union membership will affect the real estate market, in the closing days of 2006 the magazine interviewed several real estate professionals about their expectations. Architects, real estate agents, economists and investors share their views about prices, interest rates, ...more |
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| NATURA 2000 REGIME IN BULGARIA LESS RESTRICTIVE THAN OTHER PROTECTIVE MEASURES |
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| Tue 23 Jan 2007 |
| 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 ...more |
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| BULGARIA SIXTH MOST ATTRACTIVE PROPERTY INVESTMENT DESTINATION |
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| Mon 22 Jan 2007 |
| The amount of foreign investment in Bulgarias property sector made the country the sixth most preferred real estate purchase destination in the world. Property market in 2006 was dynamic and prices were growing gradually, Focus news agency said. Address real estate agency executive director Katya Tsenova said that the property prices raised by 15 per cent in 2006, reaching 280 000. A number of property owners ...more |
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| MIGRATION AND HIGH DEMAND CAUSE PROPERTY PRICE INCREASE IN BULGARIA |
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| Mon 22 Jan 2007 |
| High demand and migration processes resulted in a 12.5 per cent increase in the price of real estate in Sofia in 2006 Katya Tsenova, executive director of Address real estate agency said. Prices increased the most in the residential districts of Mladost, Lyulin, Geo Milev, Redouta, Druzhba and the city centre, Focus news agency said. Property in the coastal city of Bourgas registered the lowest increase in ...more |
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| NATURA 2000 PROTESTS IN BULGARIA RESULT FROM LACK OF INFORMATION |
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| Fri 19 Jan 2007 |
| The execution of Natura 2000 project in Bulgaria will fail if officials and people do not reach agreement, head of the ecological network for Bulgaria and representative of Green Balkans Simeon Marin said. Residents of southwestern Bulgarian towns have long been protesting against the introduction of the environmental network in Bulgaria. People feared that restrictions related to environmental protection will ...more |
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| LOT PRICE INCREASE IN BULGARIA GAINS MOMENTUM |
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| Thu 18 Jan 2007 |
| The price increase for lots usually happens at a slower pace than the one of other real estate, but in 2006 site prices in Bulgaria increased with almost the same speed as the residential property prices. Increase in the lot prices had an impact on the prices of all other real estate, 24 Chassa daily said. A differentiation in site prices increase had begun in Sofia in 2006. The value of some lots had raised by five to six per cent, ...more |
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| FIRST ECOINNOVATION HOTEL CONSTRUCTED IN BULGARIA |
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| Wed 17 Jan 2007 |
| The first ecoinnovation hotel in Southeastern Europe will be constructed in the Bulgarian village of Zdravkovets. Hilltop hotel will feature wind mills, local purifying devices and the utilisation of rainwater. A monitoring system will indicate the quantity of electricity produced and consumed at the hotel, Bulgarian news agency BTA reported. Time foundation is among the project executors, foundation ...more |
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| NATURA 2000 LIST FOR SOUTHWESTERN BULGARIA TO REMAIN UNCHANGED CHAKUROV |
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| Tue 16 Jan 2007 |
| Despite protests of residents from southwestern Bulgarian towns, concerning the inclusion of areas in Natura 2000 European environment network, the list of terrains will remain unchanged, Environment and Water Affairs Minister Djevdet Chakurov said. Residents of Bansko, Razlog and Dobrinishte have been protesting against the inclusion of land in the protected network. Razlog mayor Liuben Tatarski called only ...more |
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| ROMANIANS INTERESTED IN BULGARIAS PROPERTY MARKET |
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| Mon 15 Jan 2007 |
| Increasing number of Romanian investors show interest in the purchase of lodging or a plot in neighbouring Bulgaria or Hungary. The two countries were most attractive for investment foreign destinations, Romanian daily newspaper Gandul said. Bulgarias Black Sea coastal resorts interested the majority of Romanian and British property investors, Gandul said. Investors purchase mainly villas. The price of ...more |
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| NUMBER OF RUSSIANS BUYING PROPERTY IN BULGARIA DOUBLES |
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| Wed 10 Jan 2007 |
| The number of Russians seeking property in Bulgaria had doubled in 2006 as compared to the figures for 2005, Address real estate agency executive director Katya Tsenova said. High Russian interest in the Bulgarian property market would continue in 2007, Tsenova said as quoted by Focus news agency. Russians were buying mainly high quality apartments in the Black Sea coastal resorts and in the centres of ...more |
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| PROPERTY SEEKERS TO INVEST CAREFULLY IN ROMANIA AND BULGARIA AGENTS |
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| Mon 08 Jan 2007 |
| Though Bulgaria and Romania underwent recently a number of positive changes, including EU entry, foreign property seekers needed to invest carefully in the two countries, Assetz reported. Since several years both countries have been seen as property investment hotspots. Prices were going up but agents could not predict if the tendency would continue in the future, the report said. Cultural integration and ...more |
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| PROPERTY PRICES IN BULGARIAS SMALLER REGIONS REMAIN UNCHANGED |
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| Fri 05 Jan 2007 |
| Several years ago, analysts in Bulgaria found it difficult to believe that property investors will become interested in areas close to Bulgarias bigger cities and will launch a number of projects there. Investors have worked on entire apartment and villa complexes in smaller and less popular regions, 24 Chassa newspaper reported. Significant amount of funds was allocated to such projects. A number of property seekers ...more |
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| PROPERTY DEALS WORTH 10 BILLION EURO COMPLETED IN BULGARIA |
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| Thu 04 Jan 2007 |
| The actual value of property deals completed in Bulgaria for 2006 is expected to reach between 9.5 and 10 billion euro, National Real Property Association president Orlin Vladikov said. The number of property deals in the country in 2006 would probably be known by midJanuary 2007, he said. According to initial predictions the number of deals will reach 280 000. The figure represents an increase of 22 to 25 ...more |
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| RESORTS IN BULGARIA CONTINUE LURING BRITISH PROPERTY SEEKERS |
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| Wed 03 Jan 2007 |
| The number of British holidaymakers in Bulgaria would continue to rise after Bulgarias EU accession, property agents said. Bulgarian Land Development BLD paid 3.4 million British pounds for more than 56 000 sq m near Borovets winter resort. BLD planned to construct a complex of villas and apartments on the bigger part of the plot. The area was very popular among Britons, Daily Telegraph said. BLD executive ...more |
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| SPANISH COMPANY TO BUILD TOURISM COMPLEX NEAR SOFIA |
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| Thu 28 Dec 2006 |
| Spanish company Ferry Group plans to construct a sports and tourism complex near Sofia. The company purchased 881 000 sq m stateowned land in the village of Kutina, Darik Radio reported. Ferri Group paid six million leva for the land. Sofia regional governor Todor Modev said that the project fulfillment would bring another 300 million leva of investment and would create 2 000 work places. The complex will ...more |
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| PLOT PRICES HIGHER IN BULGARIAS SOFIA AND VARNA |
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| Wed 27 Dec 2006 |
| Intense construction in Sofia led to a deficit in free plots, which in turn affected prices, an imoti.investor.bg report said. As a result of this phenomenon the price of land increased faster than the price of property, the report said. In some Sofia districts like Banishora, Boyana and Lozenets construction plots increased in value by as much as 18 per cent. High investor interest in these districts hiked the prices. ...more |
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| BRITISH INTEREST IN BULGARIAS PROPERTY MARKET STILL UNUSUALLY HIGH |
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| Tue 26 Dec 2006 |
| Inexpensive property continues attracting British buyers to specific countries in Europe, Macedonian newspaper Vreme reported quoting a BBC report on Bulgaria. Yet, reality was different from the expectations of foreign buyers, the report said. Formerly communist East European countries failed offering major investment return opportunities. A number of investors were not careful enough, which could lead to the ...more |
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| PROPERTYWISE ANALYSES BULGARIAS REAL ESTATE MARKET IN ANTICIPATION OF EU ENTRY |
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| Fri 22 Dec 2006 |
| The first issue for 2007 of PropertyWise magazine, the specialised Englishlanguage property publication of Sofia Echo Media, will be available for sale starting January 26 2007. As Bulgaria expects to join the EU on January 1 2007, PropertyWise takes a look at the manner union membership will affect the Bulgarian property market. PropertyWise talks with real estate professionals, bankers, developers ...more |
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| BRITONS NEGLECT EXPERTS WARNINGS AND BUY PROPERTY IN BULGARIA REPORT |
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| Fri 15 Dec 2006 |
| The Bulgarian property market continued luring British, despite agents warnings that exaggerated positive information was being presented, Assetz said. Neil Lewis, head of Property Secrets, said that Bulgarias property market was oversupplied, but British still purchased. As early as 2005 Property Secrets warned investors to avoid investing in Bulgarian coastal and ski resorts, Lewis said. When there is as much ...more |
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| LAND MARKET, INDUSTRIAL PROPERTY AND INVESTMENT IN BULGARIA ANALYSED ONLINE |
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| Wed 13 Dec 2006 |
| The newest web project of Sofia Echo Media, the website of PropertyWise magazine, is already presenting deeper look at Bulgarias property market online. The website compiles the issue before the last of PropertyWise, the specialised Englishlanguage property magazine, and daily news updates on real estate developments in Bulgaria. Issue 1 of PropertyWise, available since ...more |
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| WINTER RESORT IN BULGARIA UNPREPARED FOR SKI SEASON OPENING |
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| Tue 12 Dec 2006 |
| Pamporovo winter resort was unprepared for the upcoming ski season 20062007 opening, head of the State Agency for Tourism Mario al Djebouri said. Construction in the resort was still ongoing, it was not cleaned and Chepelare municipality refused issuing a construction ban, al Djebouri said as quoted by Bulgarian National Radio. Al Djebouri took part on December 11 in a forum on the development of tourism in the ...more |
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| BULGARIA TO REMOVE LIMITATIONS TO FOREIGNER PROPERTY PURCHASE |
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| Fri 08 Dec 2006 |
| The Parliament was considering a move from forbidding foreigners to own property in the country to some special regulations. Changes feature in ownership regulations, discussed on first reading on December 7. Voting on the new laws would take place on December 8, Bulgarian National Radio reported. Such changes were needed because of Bulgarias upcoming EU entry. The country accepted EU requirements ...more |
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| SOFIAS RESIDENTIAL PROPERTIES PRICE 20 HIGHER |
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| Thu 07 Dec 2006 |
| Property in Sofias residential districts where the demand exceeds the supply had raised by 20 per cent in 2006, imoti.bg data showed. The prices of property in the districts where the demand was lower raised by an average of 9.5 per cent, 24 Chassa daily said. Price increase pace of the different types of lodgings became almost equal. The prices of one bedroom and twobedroom apartments was increasing faster a few ...more |
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| CONSTRUCTION IN BULGARIAS BANSKO WINTER RESORT STOPS |
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| Wed 06 Dec 2006 |
| Construction work in Bansko during winter season 20062007 will cease after the municipality and representatives of 53 construction companies agreed on the proposal. Starting December 5 2006 digging within the resort should cease and will be allowed only outside its area, Bansko mayor Aleksander Kravarov said. All trucks will pass outside the resort, without disturbing Bansko residents and tourists. The ban on ...more |
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| PROPERTYWISES ANALYSES OF BULGARIAS PROPERTY MARKET ALREADY ONLINE |
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| Wed 06 Dec 2006 |
| PropertyWise magazine, the Englishlanguage specialised property magazine of Sofia Echo Media, is already available online. Magazine content one issue back, as well as daily news updates on real estate in the country can be found at www.propertywisebulgaria.com. The second issue of the magazine is also offered for sale. Everyone with interest in Bulgarian property investment can learn more about the ...more |
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| SNOOKER STAR BUYS HOME IN BULGARIA |
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| Thu 30 Nov 2006 |
| Snooker star Willie Thorne was considering the purchase of property in Bulgaria. Thorne had recognised the potential that Bulgaria has as a holiday home location, holidaylettings.co.uk said. He found the ideal property which will serve as a holiday home for him and his five children. Thorne liked a house near Bulgarias coastal city of Varna situated between two golf courses. Thorne said that he was charmed by the ...more |
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| PROPERTY DEALS IN BULGARIA TAKE THREE MONTHS TO COMPLETE |
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| Thu 23 Nov 2006 |
| The average time needed for a property deal in Bulgaria to be concluded was three months since the moment the property was offered for sale, 24 Chassa daily said. The newspaper quoted international comparative research conducted in 16 European countries by the international company ERA. Completing a property deal took the longest time in Switzerland and Germany, research showed. Property ...more |
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| BRITISH PROPERTY SEEKERS SEE BULGARIA AS FOURTH MOST ATTRACTIVE DESTINATION |
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| Mon 20 Nov 2006 |
| Bulgaria ranks fourth among the destinations where British prefer to buy property. Increasing number of British looking for a second home abroad preferred places with sunny and warm climate, the Governments Survey of English Housing said as quoted by The Guardian. Over the past 10 years the property British citizens bought abroad increased by 300 per cent, BGNES news agency reported. ...more |
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| BULGARIA AND ROMANIA TO MARK HIGHEST EUROPEAN GROWTH IN RETAIL PROPERTY REPORT |
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| Fri 17 Nov 2006 |
| Bulgaria and Romania would register the highest growth in newly build retail property by the end of 2007, a real estate company Cushman amp; Wakefield report said. The retail property growth would reach 150 per cent by 2007, the report said as quoted by the Romanian English language daily Nine Oclock. Trade centres covering a total area of 98 000 sq m will be built in Bulgaria by the end of 2007. Once Romania ...more |
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| BELGRADE PROPERTY PRICES TO COMPETE WITH SOFIA LEVELS |
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| Thu 16 Nov 2006 |
| Serbias property market seemed unattractive until recently, but things were about to change, 24 Chassa daily said. The countrys property market is expected to develop at fast paste, stimulated by Serbias new constitution, allowing foreigners to buy property in the country. Bulgarias luxurious property market was much more developed than the Serbian, 24 Chassa said. Purchasers could buy lodging disposing of all ...more |
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| MINISTRY DISCUSSES CONSTRUCTION AND ENVIRONMENT PROTECTION IN BULGARIA |
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| Wed 15 Nov 2006 |
| The Environment and Water Affairs Ministry said it will launch public discussion of environment protection and construction within preserved areas. Such talks will be needed after property owners protested against a construction ban in Bulgarias protected coastal areas, imoti.investor.bg reported. Regional environmental inspectorates will carry out talks with all parties interested in the property and ...more |
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| ONLY FIVE PER CENT OF COASTAL CONSTRUCTIONS IN BULGAIA ILLEGAL MINISTER |
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| Fri 10 Nov 2006 |
| Bulgarian National Assembly will vote on second reading coastal construction regulations. Regional Development and Public Works Deputy Minister Savin Kovachev said that only five per cent of the construction on Bulgarias Black Sea coast was illegal. Ten to 15 per cent of the illegal buildings had already been torn down. Buildings constructed under the old law would not be demolished, Kovachev said ...more |
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| 500 000 SQ M OFFICE PROPERTY FOR SALE IN BULGARIA |
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| Thu 09 Nov 2006 |
| Nearly 500 000 sq m of office property will be offered for sale on the Bulgarian property market in the coming year or two. This is the total area of the projects that were being launched, Forton International FI consulting company data quoted by 24 Chassa daily showed. FI said that tenants had already applied for 120 000 sq m of office areas. It did not mean though that supply would exceed the demand, because the ...more |
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| CONSTRUCTION IN BULGARIAS BANSKO STOPS ON JANUARY 1 2007 |
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| Tue 07 Nov 2006 |
| Construction in Bansko winter resort will cease starting January 1 2007, until all urban planning is completed. Afterwards construction would be permitted only in certain areas, Bansko mayor Alexander Kravarov told Darik Radio. Nearly 300 construction permits were issued in Bansko in 2005 and 2006 and a number of additional applications were received, said Kravarov. Currently a sq m of property in Bansko costs 200 euro ...more |
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| IRAKLI PROPERTY OWNERS PROTEST IN BULGARIA |
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| Fri 03 Nov 2006 |
| Owners of property in the Irakli and Emona coastal regions blocked the BourgasVarna road on November 3 in a protest against a construction ban in the two protected regions. Ecology and Water Affairs Minister Djevdet Chakurov imposed the ban, since the two regions hold some of the last remaining wild beaches in Bulgaria. The ban would remain in force for a period of one year, BGNES news agency reported. Property ...more |
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| FOREIGNERS TO BE ABLE TO BUY AND INHERIT PROPERTY IN BULGARIA |
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| Thu 02 Nov 2006 |
| The Cabinet decided on November 2 that foreigners in Bulgaria will be able to buy and inherit property in the country. On November 2 the Cabinet approved changes to ownership laws, Focus news agency reported. The decision makes Bulgarias Constitution and the ownership regulations listed there compatible with European norms on the free movement of capital. Foreigners would be able to acquire Bulgarian ...more |
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| NEW TENDENCIES IN BULGARIAS VACATION PROPERTY MARKET |
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| Wed 01 Nov 2006 |
| New tendencies in the vacation property market in Bulgaria were to be expected, agents said during the Southeast European economic forum that began on October 31. Vacation property demand in the central parts of the country was going to increase, mediapool.bg reported. The demand would be highest in villages known for spa treatment opportunities. Hisarya, Velingrad and Sandanski could soon become new ...more |
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| 261 000 PROPERTY DEALS CONCLUDED IN BULGARIA IN 2006 |
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| Wed 01 Nov 2006 |
| By the end of the year 261 000 property deals would be concluded in Bulgaria, agents said during a Southeast European economic forum.The number represented a 122 per cent increase compared to figures for 2001, Darik Radio reported. Price increase tendencies would continue until the end of 2006. More dynamic developments were expected on the Bulgarian property market in the coming two years, ...more |
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| BRITISH SHOULD BE CAREFUL WHEN INVESTING IN PROPERTY IN BULGARIA AGENTS |
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| Mon 30 Oct 2006 |
| Investment in British property offered higher return rates and lower risk than a similar deal concluded in Bulgaria, representatives of the British consultancy agency Assetz said. On Friday October 27 the agency presented research on the property investment opportunities in Bulgaria, Bulgarian news agency BTA reported. In the past months the situation in Bulgaria began to change. The annual credit growth ...more |
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| NEW SKI COMPLEX TO BE CONSTRUCTED IN BULGARIA |
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| Fri 27 Oct 2006 |
| InvestBulgaria Agency approved a project for the construction of a ski complex in the Pirin Mountain town of Dobrinishte. Dobrinishte Ski received a firstclass investor certificate on October 26. Once a company receives such certificate, it is entitled to state aid for the construction of some infrastructure needed for the project, mediapool.bg reported. The skiing area would be located in the area ...more |
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| PROPERTY PRICE INCREASE HIGHEST IN BULGARIAS VARNA AND BOURGAS |
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| Wed 25 Oct 2006 |
| Property prices in Bulgaria increased over the summer, data of the National Statistical Institute NSI shows. The increase was highest in the coastal cities of Bourgas and Varna. The price increase in Sofia was gradual, mediapool.bg reported. Real estate sales in Bansko winter resort increased the overall price of property in the Blagoevgrad region by 12.4 per cent, the NSI report said. Apartment purchase in ...more |
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| BULGARIAS RESIDENTIAL PROPERTY PRICES INCREASE |
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| Mon 23 Oct 2006 |
| Average prices of residential property in Bulgaria rose by 4.6 per cent from July to September 2006, a National Statistical Institute report said.Property was sold for 865 leva a sq m, the reports said as quoted by Darik Radio. The prices were 14 per cent higher than those for the same period in 2005 and 11.3 per cent higher than the prices in the end of 2005. Property in the coastal city of Varna became more expensive ...more |
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| BULGARIAS REAL ESTATE EXPO PRESENTS NEW PROJECTS AND LUXURY PROPERTY |
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| Mon 23 Oct 2006 |
| The fifth edition of the largest real estate trade show in Bulgaria, Real Estate Expo, took place from October 20 to 22 in Sofia. More than 100 participants presented various opportunities for investment in real estate and information about the property market developments in Bulgaria. Participants also presented investment opportunities in France, Dubai, Italy, Germany, USA and the Caribbean region. ...more |
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| BULGARIA COMPILING CADASTRAL MAPS THAT WILL AID PROPERTY MARKET |
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| Thu 19 Oct 2006 |
| The lack of cadastral maps was one of the Bulgarian property markets main problems named by foreign investors, Bulgarias 24 Chassa daily said. The existence of complete and correct cadastral maps was an important factor in finalising secure property deals and attracting investors to the property sector, 24 Chassa said. The current process of updating the countrys cadastral maps began in 2000 and by now 33 ...more |
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| PROPERTY WORTH EIGHT BILLION EURO SOLD IN BULGARIA IN 2005 |
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| Fri 13 Oct 2006 |
| Property to a value of eight billion euro was sold in Bulgaria in 2005, National Real Property Association chairperson Orlin Vladikov said during an international real estate forum in the countrys capital, Sofia.Construction projects in Bulgaria in 2005 were also worth eight billion euro, he said, as quoted by Darik Radio. Trends in property prices would vary in 2007, Vladikov said. Nearly two million sq m of property ...more |
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| SALES OF MORTGAGED PROPERTY IN BULGARIA TO INCREASE REPORT |
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| Fri 13 Oct 2006 |
| Sales of mortgaged property in Bulgaria would increase in the next two years, according to a representative of Bulgarian real estate company Foros, as quoted by Dnevnik daily said. The property market was growing and the development of mortgage loans would boost an increase in sales of mortgaged property. Currently mortgaged property was offered mainly in Sofia. The risk of buying mortgaged property was ...more |
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| BULGARIAS SKI RESORTS EXPAND |
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| Thu 12 Oct 2006 |
| The construction boom that began in Bulgarias resort of Bansko a few years ago is rapidly being matched by that in the other two main Bulgarian ski resorts, Borovets and Pamporovo, according to an article in Bulgarianlanguage daily 24 Chassa. The increase in prices had attracted an increasing number of investors. The municipalities willingly issued permits but the resorts were becoming oversaturated.Samokov ...more |
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| FOREIGN MEDIA WARNINGS ON BULGARIAS PROPERTY MARKET |
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| Thu 12 Oct 2006 |
| The warnings towards purchasers of property in Bulgaria become more frequent in foreign media, Dnevnik daily said. A number of articles about investment risks and overestimating financial returns from Bulgarian property had been published in British newspapers, Dnevnik said. The property sector was connected to organised crime, some articles said. An article in The Independent said that in many Eastern ...more |
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| PROPERTY PRICES RISE IN BULGARIAS BLAGOEVGRAD |
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| Tue 10 Oct 2006 |
| Property prices in Bulgarias town of Blagoevgrad rose by 15 per cent in the past two months, Darik Radio reported. Blagoevgrad is in southwestern Bulgaria at the foot of the Rila and Pirin mountains. The town is 54 km west of Bansko resort.The prices of property under construction was 450 leva sq m until recently. Currently prices reached 500 to 550 euro sq m, Darik said.Builders said that the rise in the prices was due to ...more |
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| PROPERTY INVESTORS INTERESTED IN BULGARIAS SMALL TOWNS |
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| Thu 05 Oct 2006 |
| The number of property investors interested in carrying out projects in Bulgarias small towns is growing, according to Bulgarianlanguage daily 24 Chassa. The newspaper said that major property contractors in Bulgaria had accumulated capital in recent years, and most had decided to reinvest it in smaller towns. Still, the main share in the smalltown property market was held by local contractors making their first ...more |
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| PROPERTY PRICES IN BULGARIAS SMALL TOWNS INCREASE |
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| Mon 02 Oct 2006 |
| Prices of property in Bulgarias small towns and regions with population of less than 100 000 people were increasing, a National Real Property Association NRPA representative told Darik Radio. Prices of agriculture plots would continue rising in the coming years, the NRPA representative said. Currently prices averaged 100 leva a 1000 sq m. The rise in the land price resulted from Bulgarias expected EU accession ...more |
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| NO MORE CHEAP PROPERTY FOR SALE IN BULGARIA |
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| Thu 28 Sep 2006 |
| Buying cheap property, even in Bulgarias small villages, was becoming increasingly difficult, Bulgarian daily newspaper 24 Chassa reported.Even if village houses were to be found, prices were no longer as low as in the recent past. In the past five years property prices in Bulgaria increased fast, 24 Chassa reported. The process affected village property the latest. Increased investor interested in village property, ...more |
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| PROPERTY PRICES IN BULGARIA TO CONTINUE INCREASING GRADUALLY |
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| Wed 27 Sep 2006 |
| Property prices in Bulgaria would continue increasing, though the percentages would be lower than the ones registered for 2004 and 2005, head of the National Real Property Association NRPA Orlin Vladikov said. Prices would depend on the quality of construction work, location and nearby infrastructure, Bulgarian news agency BTA reported. Only luxurious property in Bulgaria could reach the price levels ...more |
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| PROPERTY FORUM TO TAKE PLACE IN BULGARIAS CAPITAL |
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| Wed 27 Sep 2006 |
| From October 12 to 14 Sofia would host the biggest European property forum for the year, the European congress of the International Real Estate Federation FIABCI and the Central European Real Estate Associations Network CEREAN. Topics that would be discussed during the forum include the property market in Europe and its main trends until 2010, Bulgarian news agency BTA reported. Participants would also ...more |
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| INTEREST IN BULGARIAS LARGER PROPERTY DECREASES |
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| Thu 21 Sep 2006 |
| The interest in the purchase of threebedroom apartments in Bulgaria was decreasing, property market analysis for the past several months showed. Two main reasons led to the trend, 24 Chassa newspaper reported. Prices of such apartments remained high and at the same time market supply has not increased. In the end of past year the interest in the purchase of threebedroom apartments went up. Property agents ...more |
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| INCREASE IN NEWLY BUILT PROPERTY SUPPLY IN BULGARIAS CAPITAL |
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| Thu 14 Sep 2006 |
| An increase in the supply of newly built property in Sofia was to be expected in the beginning of 2007, according to real estate agents. Nearly 24 000 construction permits were issued only for the first nine months of 2005, National Statistical Institute data showed. The number exceeded more than two times the constructions begun in 2004, Darik Radio said. More than 35 000 new apartments would be offered for sale ...more |
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| PRICES OF BULGARIAN PROPERTY UNDER CONSTRUCTION RISE BY 10 PER CENT |
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| Thu 14 Sep 2006 |
| Prices of unfinished property in Bulgarias capital rose by 10 per cent for the first nine months of 2006, 24 Chassa newspaper reported. Prices in other big Bulgarian cities also rose by five to seven per cent. Unfinished property prices at the seaside increased by seven per cent, 24 Chassa said. The increase in prices of building materials and segmentation of the market were among the reasons for the price change, 24 Chassa ...more |
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| PROPERTY PRICES IN BULGARIA UNCHANGED |
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| Tue 12 Sep 2006 |
| Property prices in Bulgaria remained the same during summer 2006, according to real estate agencies. Property demand also maintained the same level, Darik Radio reported. The active period for selling would be over by the beginning of November, Darik said. Price changes were hardly expected till the end of 2006. It was too early to predict whether the prices would increase or decrease in the beginning of 2007, Darik ...more |
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| BRITISH, ITALIANS, CANADIANS AND GERMANS BUY PROPERTY IN BULGARIAS PLEVEN REGION |
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| Mon 11 Sep 2006 |
| British, Italians, Germans and Canadians have bought property in the Pleven region this summer. According to reports the interest of foreign property seekers in houses in the Danube Valley region is growing. Wealthier Bulgarians also bought real estate in the region, Bulgarian news agency BTA reported. A British family purchased big property in Kurtozhabene village, located close to Plovdiv. An Italian businessman ...more |
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| INVESTMENT RETURN FROM PROPERTY IN BULGARIA GOES DOWN |
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| Fri 08 Sep 2006 |
| The overall annual return from investments in Bulgarian property decreased to 44 per cent from the 104 per cent several months ago, a report of assetz.com said. Investors should take into consideration the slowdown and practical halt of market growth and the increasing competition in the rental market, Assetz warned. The annual property price increase slowed down from 36 per cent to 17.8 per cent and the ...more |
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| PROPERTY SEEKERS SHOULD BE CAREFUL WHEN INVESTING IN BULGARIA |
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| Thu 07 Sep 2006 |
| Reuters news agency warned property investors of the risks related to purchases in Bulgaria. According to the report market growth has started going down and competition in the country was on the rise.Recently annual returns went down to 44 per cent as compared to the 104 per cent three months ago, Reuters reported. Price growth also started slowing down. The levels went down from 36 per cent to 17.8 ...more |
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| DOCTORS GARDEN AREA OFFERS MOST EXPENSIVE PROPERTY IN BULGARIAS CAPITAL |
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| Mon 04 Sep 2006 |
| Residential property registered the most dynamic development among all sectors in the Bulgarian real estate market, a Colliers International report for the first half of 2006 shows. The apartments offered for sale in Ivan Vazov district have become the second most expensive after real estate located in the area of Doctors Garden. Rental rates remain almost unchanged, Bulgarian news agency BTA reported. According to ...more |
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| MORE THAN 30 000 VACATION APARTMENTS OFFERED FOR SALE IN BULGARIAS RESORTS |
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| Thu 31 Aug 2006 |
| More than 30 000 vacation apartments are offered for sale in the Bulgarian coastal and ski resorts, data of Colliers International for the Bulgarian property market in the end of June shows. Black Sea coastal resorts offer nearly 22 500 apartments for sale. Over the past year supply has increased by nearly 6000 apartments, 24 Chassa newspaper reported. The increase, compared to supply in June 2005 is 37 per cent. ...more |
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| LOW PRICES AND HIGH QUALITY AMONG REASONS TO INVEST IN BULGARIAS PROPERTY |
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| Tue 29 Aug 2006 |
| Bulgaria is one of the most interesting and promising destinations across the world, and could offer quality property opportunities, according to Londonbased Hot Properties Worldwide. The company has added Bulgaria to its portfolio based on these developments, mediasyndicate.com reported. Bulgarias key attractions were a low risk investment in the buy to let market, solid houses with freehold ...more |
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| REAL ESTATE PRICES IN BULGARIA REMAIN STABLE, SUPPLY EXCEEDS DEMAND |
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| Fri 25 Aug 2006 |
| Residential property prices in Sofia stabilised during the first half of 2006, Colliers International Semiannual Residential Market Overview said. The prices increased slightly in comparison to the prices previous years. Ivan Vazov district became the second most expensive area in Sofia where the average price reached 1325 euro a sq m, the overview said. The most preferred area remained the Doctors Garden where ...more |
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| PROPERTY PRICE INCREASE IN BULGARIA SECOND HIGHEST WORLDWIDE |
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| Thu 24 Aug 2006 |
| Bulgaria registered the second highest increase in property prices worldwide, according to the analysis of London agency Knight Frank.The analysis compares property prices in countries in Europe, Asia and in the US, 24 Chassa newspaper reported. Bulgaria maintains the second highest price increase after Latvia, where the growth for the second quarter of 2006 as compared to prices for the previous year ...more |
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| LAW CHANGES TO INTRODUCE TECHNICAL PASSPORTS FOR PROPERTY IN BULGARIA |
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| Wed 16 Aug 2006 |
| Changes to urban and territorial planning, accepted in Parliament on first reading, would introduce technical passports for new and already existing property. Technical passports aim to list all construction characteristics, related to EU requirements for increased construction safety, Bulgarian news agency BTA reported. New technical passports would be needed in case the building is reconstructed or modified. ...more |
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| PROPERTY COMPANIES TO APPEAL CONSTRUCTION BAN IN BULGARIAS IRAKLI |
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| Wed 16 Aug 2006 |
| Swiss Properties would appeal the decision of the Environment and Water Affairs Ministry to ban construction in Irakli coastal region for one year, company managing director Stoyan Zahariev said. The company already purchased plots and finalised a project, mediapool.bg reported. Environment and Water Affairs Minister Djevdet Chakurov approved the ban since Irakli was one of the last remaining wild beach ...more |
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| CONSTRUCTION OF FIRST MALL IN BULGARIAS VARNA BEGINS SOON |
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| Tue 15 Aug 2006 |
| The construction of the first mall in the coastal city of Varna would begin next week. Mall of Varna would have trade area totaling 25 000 sq m. Both offices and stores would be offered for rent, mediapool.bg reported. Construction was expected to end in November 2007, Interservice Uzunovi managing director Krasimir Ouzounov said. The company is investor in the project. Investment in Mall of Varna ...more |
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| PROPERTY PRICES IN EASTERN EUROPE INCREASING FAST |
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| Mon 14 Aug 2006 |
| Property prices were registering the highest increase in East European countries, data of the British property company Knight Frank, presented in Financial Times shows. Japan continues struggling with price decrease, the report said. Property in Hong Kong was also losing value after a previous boom. Worldwide, property has become 8.5 per cent more expensive, the analysis showed. Significant price increase was ...more |
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| ILLEGAL CONSTRUCTIONS IN BULGARIAS PAMPOROVO RESORT |
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| Tue 08 Aug 2006 |
| Two constructions and a facility of hotels in Pamporovo were set up without the needed construction permit, an inspection of the regional directorate for construction control shows. A team inspected all construction sites in the resort, as well as in other populated areas in the Smolyan region, mediapool.bg reported. Inspection results showed that two constructions and another facility were set up without permits. ...more |
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| ILLEGAL CONSTRUCTIONS TAKEN DOWN IN BULGARIA |
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| Fri 04 Aug 2006 |
| For the first six months of 2006, 195 illegal constructions in Bulgaria have been taken down, the Directorate for National Construction Control said. The directorate ordered the taking down of 605 illegal construction and the halting of construction work on 235 more.Bulgarian news agency BTA reported that the directorate performed 4722 construction inspections in the first half of 2006. The inspections ...more |
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| CONSTRUCTION BAN IMPOSED IN BULGARIAS PROTECTED COASTAL REGIONS |
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| Fri 04 Aug 2006 |
| Environment and Water Affairs Minister Djevdet Chakurov would impose a ban on the construction in Bulgarias protected coastal areas located in the EmineIrakli region. The ban would be in force for a period of one year. The protected areas are home of some rare wildlife species, a Council of Ministers press release said. Chakurov said that Nessebar municipality received 813 plans ...more |
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| TECHNICAL PASSPORTS REQUIRED FOR NEW PROPERTY IN BULGARIA |
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| Thu 03 Aug 2006 |
| Technical passports would become mandatory for all new buildings in Bulgaria, according to changes in territorial regulations voted in parliament on first reading on August 2. The documents would list characteristics of the construction like fire safety, noise isolation, energy saving and others, mediapool.bg reported. Initially the document would be required for new constructions only, Regional ...more |
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| US COMPANY TO WORK ON MALL IN BULGARIAS BOURGAS |
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| Fri 28 Jul 2006 |
| US company Laguarda.Low Architects LLC would work on the plans for the building of MallBourgas. Investors GIR2 and project consultant Colliers International announced the selection on July 27. The two companies would have the final decision in the development of the mall concept, mediapool.bg reported. The US company specialised in the planning of various trade and entertainment centres. MallBourgas ...more |
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| BULGARIAS PROPERTY BECOMES 1.6 PER CENT MORE EXPENSIVE |
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| Fri 21 Jul 2006 |
| Property in Bulgaria became on the average 1.6 per cent more expensive from April to June 2006. The average price of sq m of property reached 819.3 leva. The increase was highest in bigger towns and cities, Bulgarian news agency BTA reported. Property in Gabrovo gained most in price, data of the National Statistical Institute shows. The increase registered there reached 15.2 per cent. Real estate in the ...more |
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| COUNCIL OF MINISTERS TO DECIDE ON CONSTRUCTION IN BULGARIAS IRAKLI |
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| Thu 20 Jul 2006 |
| The Environment Ministry would present the issue of construction in wild beach areas to the Council of Ministers, Environment Minister Djevdet Chakurov said after a meeting with environmentalists. An environmental organisation demanded a ban on the construction in Irakli, one of Bulgarias last remaining wild beach areas, mediapool.bg reported. Presenting the issue to the Council of Ministers did not mean ...more |
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| BULGARIAS ENVIRONMENT MINISTRY TO EXAMINE CONSTRUCTION IN IRAKLI COASTAL REGION |
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| Wed 19 Jul 2006 |
| Environment Minister Djeved Chakurov would meet on Wednesday representatives of the environmental organisation opposing construction in Bulgarias wild beach coastal area Irakli. Irakli is a region with some of the last remaining unmodified beaches on the Black Sea coast, mediapool.bg reported. For several months environmentalists have been protesting and collecting signatures in favour of a ...more |
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| GOLF COURSE TEMPTS PROPERTY INVESTORS INTERESTED IN BULGARIAS BANSKO |
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| Mon 17 Jul 2006 |
| The number of tourists winter resort Bansko would be able to accommodate during the next winter season would increase by 20 000, representatives of Address Bulgaria property agency said. In three years Bansko would offer opportunities for calm rest, as most construction work in the areas near and within the resort would be completed by then, property agents said. Construction in Banskos ...more |
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| BULGARIAS ENVIRONMENT MINISTRY PLANS BAN OVER COASTAL CONSTRUCTION IN IRAKLI |
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| Thu 13 Jul 2006 |
| Environment and Water Affairs Minister Djevdet Chakurov was working on a temporary ban over construction in Irakli, Bulgarias wild beach area. Chakurov announced his plans to ban coastal construction during a meeting of the Councils of Ministers, Darik Radio reported. Coastal construction expansion threatened the wild life in the only remaining wild beach area in Bulgaria. On July 6 Nessebar municipality refused to ...more |
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| YEARROUND FOREIGN DEMAND FOR VILLAGE HOUSES IN BULGARIA |
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| Thu 13 Jul 2006 |
| Latest property market tendencies revealed that the sales of village houses was no longer dependent on the season. Usually the demand for houses in villages was higher during the summer, 24 Chassa newspaper wrote. Over the past few years the real estate market registered a steady yearround supply and demand for such property. The majority of the investors iwere foreigners, mainly British and Irish. ...more |
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| ANOTHER LARGESCALE PROPERTY INVESTMENT IN BULGARIAS KAVARNA |
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| Fri 07 Jul 2006 |
| Bulgarias Linexa Property plans a 20 million euro investment in a new residential complex to be constructed in Bulgarias coastal town of Kavarna. On July 6 Kavarna mayor Tsonko Tsonev revealed the plans for the new complex to be constructed near a golf course, SeeNews reported. Construction work had already began and the 420apartment complex would be completed within two years, Tsonev said. ...more |
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| DEMAND FOR CONSTRUCTION PLOTS IN BULGARIAS SEASIDE MAINTAINS HIGH LEVELS |
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| Thu 06 Jul 2006 |
| Intense hotel and complex construction will continue despite warnings that the Bulgarian coastal region already faced problems with construction density. The demand and supply of construction plots in the coastal region maintained high levels, 24 Chassa reported. Southern regions attracted more investment, 24 Chassa said. Property in resort towns near Bourgas sell three times better than estates in the Varna ...more |
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| BRITISH INTEREST TOWARDS BULGARIAS PROPERTY MARKET |
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| Wed 05 Jul 2006 |
| British company Future Asset Management began advertising Bulgaria as a profitable property investment destination. Over the past few years Bulgaria has developed as an attractive tourist destination for summer, mountain and specialised tourism, icwales.co.uk reported. David Wingar, founder of Future Asset Management, said that the countrys progress towards EU accession and euro zone entry added to ...more |
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| NESSEBAR MUNICIPALITY PERMITS COASTAL CONSTRUCTION IN BULGARIAS WILD BEACH AREA |
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| Fri 30 Jun 2006 |
| On June 30 Nessebar municipal council permitted the controversial construction work in the Irakli region, one of the few remaining wild beach areas in Bulgaria. The council refused to pass the construction ban proposed by mayor Nikolai Trifonov on grounds that it had no authority to change conditions already stated in the construction order. Representatives of 10 environmental organisations held a rally in front ...more |
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| NEWLY OPENED MALLS AFFECT TRADE AREA MARKET IN BULGARIA |
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| Thu 29 Jun 2006 |
| Demand for store areas in the newlyopened malls in Sofia was increasing and many brands preferred them to the stores on major boulevards. Maya Ivanova from Yavlena Real Estate said that brands were transferring their old stores to the malls or opening new ones in the trade centres. Until recently stores on Vitosha Boulevard, Graf Ignatiev and Pirotska Streets were rarely freed, 24 Chassa newspaper ...more |
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| BULGARIA EXAMINES COASTAL CONSTRUCTION PROBLEMS |
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| Thu 29 Jun 2006 |
| Representatives of the Regional Development Ministry would discuss on Friday Bulgarias coastal construction problems. The regional governors of Varna and Bourgas would also take part in the talks, mediapool.bg reported. On the same day, June 30, representatives of the Nessebar municipality would decide whether to permit construction in Irakli, one of the last wild coastal regions in Bulgaria. Ecological organisations ...more |
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| PROPERTY IN BULGARIAS RESORTS TO BECOME LESS EXPENSIVE |
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| Tue 27 Jun 2006 |
| Property prices in Bulgarian resorts were expected to decrease because of the overconstruction and the lack of clear construction criteria, head of the National Real Property Association NRPA Orlin Vladikov said. An area of more than 780 000 sq m is currenlty occupied for the construction of hotels and apartments in the Bourgas region. In many cases such projects fail to attract investment due to the proximity to ...more |
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| CONSTRUCTION IN BULGARIAS PROTECTED COASTAL REGIONS CONTINUES |
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| Tue 27 Jun 2006 |
| Terrains in the wild coastal region Irakli were offered for sale on the websites of various property companies, inspection of mediapool.bg reported. Houses in vacation complexes were offered for sale on the web. Ads present buildings in close proximity to the beach in some of the last wild Black Sea coastal areas. Over the weekend thousands of Bulgarians signed a petition in favour of protective measures and limited ...more |
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| BULGARIA CONTINUES BEING PROPERTY INVESTMENT HOTSPOT |
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| Mon 26 Jun 2006 |
| Property investment group Assetz reported Bulgaria confirms its standing as leading property investment hotspot. For the second quarter of 2006 the return rate of Bulgarian property was 137 per cent, Assetz reported. In March the figure reached 116 per cent.Decreasing mortgage rates in the country make borrowing cheaper. Deposits decreased as well, guaranteeing investors bigger returns. ...more |
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| PROPERTY INVESTMENT IN BULGARIA OFFERS HIGH RETURN RATE |
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| Fri 23 Jun 2006 |
| Bulgaria was among the countries offering greatest return of real estate investment, aboutproperty.co.uk said. According to official statistics investment return rate increased to 137 per cent over the first four months of 2006. In comparison, the figure was 116 per cent at the beginning of the year. Some of the main factors behind the increase were the low mortgage rates and deposit requirements. These ...more |
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| FOUR OPTIONS FOR SKYSCRAPER CONSTRUCTION IN BULGARIA |
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| Thu 22 Jun 2006 |
| The Bourgas municipality selected four projects among the nine applications for the construction of a skyscraper in the coastal city. Competition for submitting architecture plans ended on June 15. Bourgas residents got the chance to review the projects and vote for one until June 21, Darik Radio reported. The aim of the public selection was to give Bourgas residents the chance to participate in the process, ...more |
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| BULGARIAS BANSKO TO DEVELOP YEARROUND TOURISM OPPORTUNITIES |
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| Wed 21 Jun 2006 |
| Bulgarias Bansko mountain resort would search for ways to attract tourists yearround, The Independent reported. Until recently Bansko was the typical ski resort with booming tourism activity in the winter season and almost empty during the summer. Now investors seek to attract tourists during the summer, offering services like bike and hiking trails, horsebackriding lessons and golf courses, The Independent said. ...more |
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| BULGARIAS WESTWARD MOVE ATTRACTS PROPERTY SEEKERS |
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| Mon 19 Jun 2006 |
| An article named The Bulgarian Property Renaissance, published on 999 Today website presents Bulgaria as an increasingly appealing destination for Western European property seekers. Previously known as communist country, Bulgaria is now making moves westward with its NATO membership and expected EU entry in the beginning of 2007, 999 Today reported. This opening to the Western world enabled ...more |
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| CONSTRUCTION OF BULGARIAS FIRST SKYSCRAPER TO START BY BEGINNING OF 2007 |
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| Thu 15 Jun 2006 |
| The building of the first skyscraper in Bulgaria will start by the end of the year. The office building will be constructed near Kempinski Hotel Zografski, 24 Chassa newspaper reported. In this way the 35floor skyscraper will appear in one of the capitals highest areas. The estimated investment needed for the execution of the project totals 45 million euro. Roumen Markov from Joint Building Investment, the ...more |
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| VILLAGES CLOSE TO BULGARIAS CAPITAL ATTRACT MORE PROPERTY SEEKERS |
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| Thu 08 Jun 2006 |
| A new tendency can be observed on the Bulgarian property market. Increasing number of real estate seekers prefer to purchase property in the villages located close to Bulgarias capital instead of apartments in Sofia. Villages located up to 30km away from Sofia offer houses at affordable prices and attract the attention mainly of young families unwilling to risk with untraditional purchase, Darik Radio reported. ...more |
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| SPA TOURISM POTENTIAL HIKES PROPERTY PRICES IN BULGARIAN RESORTS |
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| Thu 08 Jun 2006 |
| Growing interest in the construction of spa centres resulted in increased real estate prices in some popular Bulgarian spa resorts. Spa tourism remains relatively undeveloped but has considerable growth potential, 24 Chassa reported. At present the most profitable investment was buying hotel in a spa region, the newspaper said. According to imot.bg, Velingrad was the town with highest spa hotel development potential. ...more |
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| PROPERTY PRICES IN BULGARIA MAINTAIN GROWTH RATE |
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| Thu 01 Jun 2006 |
| Property prices in Bulgaria were so low it was impossible to make losing investment in the countrys real estate sector, International Herald Tribune reported. At the same time property prices are constantly on the rise. In one year residential property prices went up 36.6 per cent, data of the National Statistical Institute shows. Prices are still much lower than the value of similar property in other Central and East ...more |
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| SOFIA PRESENTED FOR THE FIRST TIME IN PROPERTY INVESTMENT FAIR |
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| Tue 30 May 2006 |
| Sofia municipality will be presented as an investment destination during the first international specialised property fair Real Vienna. The fair starts on May 31. It would focus on investment opportunities in Souteast European countries and on new market tendencies, Bulgarian National Radio reported. Property seekers are interested in opportunities in Eastern European destinations like Bulgaria, Russia and ...more |
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| 2004 PROPERTY PROJECTS IN BULGARIA PRODUCE REVENUE |
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| Tue 30 May 2006 |
| Property investment in 2004 nearly doubled its value and produced revenue for the owners. A number of real estate projects evolved and statistics show an increase in the number of deals concluded. Since the middle of 2005 the property market began to calm down, mediapool.bg reported. Analysts said property prices could start decreasing. The Sofia property market offers various buildings, some of which still under ...more |
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| OVERPOPULATED RESORTS IN BULGARIA A SETBACK FOR TOURISTS |
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| Mon 29 May 2006 |
| The state failed to impose efficient measures to prevent hotel construction growth in Bulgarias seaside resorts, resulting in a decrease in prices and demand. As the state proved incapable of restricting new construction in the resorts, the private sector found another way of dealing with the problem, starting to explore tourism possibilities in areas away from the large resorts, Capital newspaper said. Hotel ...more |
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| BULGARIAN REAL ESTATE MARKET ATTRACTS FOREIGNERS WITH LOWER PRICES |
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| Thu 25 May 2006 |
| Property market tendencies show lower prices influence the choice of real estate buyers most, even if the quality is poor and the apartment needs urgent repair. Property agencies statistics about foreign investment are controversial, Darik Radio reported. Predictions of a boom in the number of foreigners purchasing construction plots turned out false. Deals with foreigners were less than six per cent, Darik ...more |
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| EU CRITICISM FAILS TO AFFECT BULGARIAS PROPERTY MARKET REPORT |
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| Thu 25 May 2006 |
| Bulgaria remains real estate hotspot, despite EU criticism over reforms failure, market analysis shows. Spain and France are losing some popularity, Dnevnik newspaper reported. The majority of property seekers are now turning to Southeastern Europe. The international property market is slowing down, yet Southeastern Europe would maintain the high number of buyers, analysis shows. Infrastructure ...more |
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| PLANS FOR UNDERGROUND PARKING LOT CONSTRUCTION IN SOFIA |
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| Tue 23 May 2006 |
| Sofia municipality is planning to offer on concession the terrain below National Assembly Square. The terrain would be used for the construction of an underground parking lot, mediapool.bg reported. According to plan the plot would be given to a concessionaire for a 35year period. A twolevel parking lot would be constructed. Its capacity would be 203 vehicles. The potential investor would use own funds for ...more |
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| PROPERTY MARKET SURVEY RANKS MOST POPULAR REGIONS IN BULGARIA |
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| Thu 18 May 2006 |
| The coastal resort Sozopol is the Bulgarian region with highest demand for real estate. 24 Chassa published a survey by imot.bg ranking Bulgarian regions based on the property demand. Sozopol offers over 400 plots for hotel construction and prices vary from 20 to 150 euro a sq m. The seaside resorts of Tsarevo and Ahtopol are also among the high demand regions. Prices are a bit lower, reaching only 120 euro a sq ...more |
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| BULGARIAS EU ACCESSION RAISES PROPERTY INVESTMENT QUESTIONS |
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| Thu 18 May 2006 |
| Bulgarias questionable EU future causes concern over the future of the countrys property market, Assetz reported. The property market experienced growth since EU membership talks began in 2000. Since then, the purchase of property in Bulgaria became increasingly popular investment opportunity. Interest toward property both in the capital of Sofia and in seaside and mountain resorts was on the rise. Bansko ...more |
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| PROPERTY AGENCIES IN BULGARIA EXPECT PRICE DECREASE |
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| Fri 12 May 2006 |
| Real estate agents in Bulgaria expect a price decrease once mortgage apartments are offered for sale. Prices might decrease by as much as 20 per cent, Darik Radio reported. National Real Property Association NRPA head Orlin Vladikov said the highest number of apartments in 2005 was sold in Sofia. A mortgage loan was used in 32 per cent of all purchases, Vladikov said. By the end of this year or in the beginning of ...more |
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| MALLS IN BULGARIAS CAPITAL TO AFFECT PROPERTY MARKET |
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| Mon 08 May 2006 |
| The latest property market tendencies in Bulgaria show the demand for stores on the capitals main boulevards is growing. Because of the high demand and scarce supply, monthly rents on Sofias Vitosha Boulevard reached 110 euro a sq m, Capital newspaper said. The situation was about to change with the opening of the three shopping malls in the capital, experts predicted. Many brands may like to open a second store ...more |
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| BULGARIAS PROPERTY MARKET CALMS DOWN |
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| Fri 05 May 2006 |
| Bulgarias property market is experiencing a period of calm, expert analysis shows. Longterm predictions envision increase in property prices, Dnevnik newspaper reported. The trend would affect mainly big cities and Bulgarias famous resorts. In the shortrun the steady supply will maintain the stability of the property market, real estate experts said. For the first three months of 2006 property in major cities became ...more |
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| NEW TOWN CONSTRUCTED IN BULGARIAS SEASIDE |
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| Thu 04 May 2006 |
| A new town, with expected population of over 25 000 people, will be built within the next two years. The town will be constructed in the region of the Black Sea Popski bay, famous for its clear beaches, 24 Chassa reported. According to the investors plans the villas and hotels in the town will host over 25 000 tourists during the summer season. The region is part of Tsarevo municipality. Tsarevo mayor Petko ...more |
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| NEW BUILDINGS REPLACE OLDER PROPERTY IN BULGARIAS CAPITAL |
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| Thu 04 May 2006 |
| Experts predict a construction boom in Sofias centre. In two years at most new luxurious complexes would replace the old buildings in the capital, real estate companies said. Yavlena real estate company representative Strahil Ivanov said that the process of replacing old constructions with new ones would start by the end of this year. According to Adress Group predictions, the boom would start two years ...more |
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| NEW PROPERTY INVESTMENT TRENDS IN BULGARIA |
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| Thu 27 Apr 2006 |
| Real estate market tendencies show a considerable increase in the sales of hotels under construction. According to a 24 Chassa report the largest part of such offers is concentrated in Bansko, Pamporovo and the seaside resorts. Until present investors showed interest in the purchase of completed hotels, especially by the seaside, or separate flats in apartment complexes. Market research shows tendencies are ...more |
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| PROPERTY SUPPLY INCREASE AFTER BULGARIAS EU ACCESSION |
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| Wed 26 Apr 2006 |
| The Bulgarian real estate market expects a property supply boom next year. Many real estate owners in Bulgaria wait for January 1 2007 to offer their property for sale, hoping the countrys EU accession will increase prices, Darik Radio reported. Managers of leading real estate agencies said these expectations are unfounded as prices on the Bulgarian market are already high enough. There is hardly any room for ...more |
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| SMALLER APARTMENTS GAIN POPULARITY ON BULGARIAS PROPERTY MARKET |
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| Tue 25 Apr 2006 |
| Smaller apartments become increasingly attractive for property buyers in Bulgaria. The majority look for one or twobedroom apartments, costing between 30 000 and 40 000 euro, Capital newspaper reported. Because of the lack of interest, construction companies split larger apartments before the final completion of real estate projects. The higher demand for smaller apartments resulted from the price increases ...more |
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| PROPERTY INVESTORS STILL INTERESTED IN CENTRAL AND EASTERN EUROPE |
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| Thu 20 Apr 2006 |
| The interest of foreign investors in Central and Eastern European property continues. As a result of the high demand, the region might be unable to offer enough real estate purchase opportunities, Dnevnik newspaper reported. Western investors interest is on the rise also because of the expected EU membership of several countries in the region, the Wall Street Journal reported. This development would likely ...more |
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| MOST EXPENSIVE PROPERTY OF BULGARIAS CAPITAL LOCATED IN IVAN VAZOV DISTRICT |
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| Thu 20 Apr 2006 |
| Sofias Ivan Vazov district leads in property prices, according to data of imoti.net. Apartment prices in Ivan Vazov exceed 1000 euro a sq m, leaving behind former leaders like Iztok district and the central parts of the capital.Real estate agents said several factors produced the development. Ivan Vazov is located in near Sofias centre. The district has good infrastructure, including medical and education centres. The ...more |
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| PROPERTY NEAR BULGARIAS CAPITAL A REALLY GOOD INVESTMENT |
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| Tue 11 Apr 2006 |
| Property prices in Sofia continue to rise according to the latest imoti.net data. or the last six months the price of a square metre has risen to nearly 600 euro. Among the most expensive suburbs are Ivan Vazov, Yavorov and the central parts of the city, Banker newspaper reported. Brokers say offers lower than 400 euro a square metre have simply disappeared. Cheaper properties include those in Obelya, Tolstoi, ...more |
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| PROPERTY FUNDS MOVE AWAY FROM BULGARIA |
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| Tue 11 Apr 2006 |
| Foreign capital that Bulgarian property attracted with the quickly rising prices is moving to other countries, offering different opportunities. Companies that remain actively involved are ready to wait patiently and develop properties, while searching for strategic investors, Dnevnik newspaper reported. Though the price of some terrains doublejumped in one year, a slowdown is starting to settle in. The price increase for ...more |
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| BULGARIAS MOST PREFERRED PROPERTY PURCHASE OPTIONS RANKED |
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| Mon 10 Apr 2006 |
| According to 25 per cent of the property investors in Bulgaria, the purchase of a terrain close to some major city is the most profitable real estate market participation option. Investors purchase such terrains most often for the construction of an office building or trade centre, Novinar newspaper reported. Such types of investment lead in a ranking of the most preferred real estate purchases. an Investor.bg ...more |
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| PROPERTY PRICES IN BULGARIA RISE SIGNIFICANTLY |
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| Fri 07 Apr 2006 |
| The Bulgarian property market has returned to tendencies from two to three years ago, when increasing numbers of people bought terrains few kilometres off big seaside cities. In 2004 this tendency led to property price inflation. Many people back then purchased large properties for personal needs at cheaper prices. Land has now become more expensive and owners started reselling, tempted by the ...more |
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| EASTERN EUROPE STILL PROFITABLE FOR PROPERTY SEEKERS |
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| Thu 06 Apr 2006 |
| Eastern Europe maintains its status as one of the most attractive property destinations, though investors are becoming more skeptical about new offers on the market. Many property companies turn to Southeastern Europe because of the high income return, Dnevnik newspaper reported. In comparison to Londons return rate of five per cent, Ukraines reached 15 per cent. Investors worry whether the small ...more |
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| INTEREST IN BULGARIA OFFICE PROPERTY ON THE RISE |
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| Wed 05 Apr 2006 |
| International and Bulgarian companies alike are increasingly interested in the purchase of quality office property in Sofia. The tendency for companies to get office spaces in apartment buildings is becoming less valid. Though the price of property in office buildings tends to be higher, these guarantee various benefits apartment buildings cannot provide, Dnevnik newspaper reported. Quality office areas in the ...more |
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| BULGARIA RANKS AFTER SPAIN AND FRANCE IN REAL ESTATE POPULARITY |
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| Mon 03 Apr 2006 |
| Despite the lower property prices, Bulgaria ranks after France and Spain based on the popularity of the country as property destination for British investors. Nearly 43 per cent of the foreign property purchases occurred in the two countries, 999 Today reported. Australia ranks third with 11 per cent. Bulgaria remains fourth with 10 per cent, followed by the US with four per cent. Most British investors look for holiday ...more |
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| SPORT OPPORTUNITIES INCREASE THE APPEAL OF BULGARIAN PROPERTY |
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| Wed 29 Mar 2006 |
| Bulgaria offers sport opportunities available in already wellknown international sport centres. As a result more property seekers, interested in golf and ski resorts turn to the country, 999 Network reports. Resorts in the country already offer quality golf courses and sport facilities. At the same time Black Sea developments give holiday real estate seekers the opportunity to enjoy coastal resorts. Ski ...more |
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| PROPERTY PRICE INCREASE TENDENCY STILL VALID IN BULGARIA |
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| Tue 28 Mar 2006 |
| Though Bulgaria offers cheap property, real estate prices in the country are constantly on the rise, a lengthy article of the International Herald Tribune reads. The author tries to predict whether the trend will continue in the future. The upward trend for property prices has been valid for the past 12 years. In 2005 a sq m of residential property became 36.6 per cent more expensive, data from the National Statistic ...more |
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| PROPERTY INVESTMENT IN BULGARIA NOT SO PROFITABLE ANYMORE |
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| Tue 28 Mar 2006 |
| The investment in property is not as profitable as it used to be, an Industry Watch report shows. Investment in Bulgarian property fails to bring the same material returns, Dnevnik newspaper reported. Other economic sectors take the lead in investment returns. Among these investments are ones in crude resources like petroleum. Property prices increased on the average with 21.6 per cent between December 2004 ...more |
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