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Property rentals soar in major Bulgarian cities
Bulgarias four biggest cities Sofia, Plovdiv, Varna and Bourgas have see a significant shift in the trends of the real estate sector, in particular the growing interest in property rental, data from real estate agency Address showed on November 24.The double digit increase on the market in 2008 has been credited to the sharp demand of property rentals, as a consequence of the global financial crisis and the subsequent decline in demand for purchase of single family homes, flats or planned unit...
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Date: 2008-11-23 22:00:00 | Source: Propertywisebulgaria.com
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Sofia skyscrapers
Try to imagine a colossal skyscraper in place of the statue of Sofia in the centre of the city. It would have happened too, if communistera ambitions had been realised.The idea of a skyscraper in Sofia goes back more than 40 years, with buildings planned near the central train station, the Solni Bazar market, on the intersection of Cherni Vruh and James Bourchier boulevards, yet circumstances always conspired against such undertakings. In recent years, dozens of projects have been put forth, eve...
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Date: 2008-11-23 22:00:00 | Source: Propertywisebulgaria.com
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Highend property prices in Sofia fall by 5 report
Prices in the highend Sofia neighbourhoods Ivan Vazov and Lozenets have fallen by five per cent over the past six months, according to the data from one of Bulgarias biggest real estate listings websites, imoti.net.In May, prices in those neighbourhoods were about 2050 euro a sq m, but have since fallen to 1960 euro a sq m, website stroitelstvo.bg reported.
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Date: 2008-11-23 22:00:00 | Source: Propertywisebulgaria.com
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No construction at Kaliakra for one year Environment Ministry
Environment and Water Affairs Minister Djevdet Chakurov has issued an order forbidding construction for a year at Kaliakra, a natural site on the northern Bulgarian Black Sea coast whose preservation has been hotly fought for by environmentalists. The ministry announced this in a press statement on November 23 2008.
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Date: 2008-11-23 22:00:00 | Source: Propertywisebulgaria.com
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Slovenias Mercator to rent space in Sofias Mega Mall
Slovenias largest food retailer Mercator will rent space for a hypermarket in the Mega Mall in Sofia, currently under construction, deal consultant Raiffeisen Imoti, the real estate arm fullyowned Raiffeisenbanks Bulgarian subsidiary, said on November 17, as quoted by Dnevnik daily.Mega Mall is developed by Austrias Real4YOU Immobilien. Its leasable area will be 24 000 sq m, split between more than 100 shops. The area earmarked for the hypermarket is 3054 sq m.
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Date: 2008-11-16 22:00:00 | Source: Propertywisebulgaria.com
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Orchid Developments sells Zlatni Pyassutsi hotel for 9.9M euro
Orchid Developments, an international property developer focusing on Bulgaria, said on November 17 that it sold Yavor hotel in the Black Sea resort of Zlatni Pyassutsi for 9.9 million euro.The developer had said in September in its interim results that it expected the sale of Yavor Zlatni AD, the subsidiary company taht owns the hotel, to complete in October 2008.
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Date: 2008-11-16 22:00:00 | Source: Propertywisebulgaria.com
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Agricultural land another can of worms
Agrarian reform in Bulgaria is going in the wrong direction. But if the corporative model of working the land were implemented, then agricultural business could attract more foreign investment and boost the countrys economy in the wake of the weakened tourism and construction sectors. This was the rough conclusion of a conference entitled Investments in Agricultural Lands 2008 New Mechanisms for Comassation, organised by Elana financial group and Dnevnik daily on November 12 2008.
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Date: 2008-11-16 22:00:00 | Source: Propertywisebulgaria.com
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Mall Varna changes hands
Scottish property group Miller Developments is the new owner of Mall Varna, foreign media reported on November 16 2006.The deal was sealed for 120 million euro, and according to the Sunday Herald, this is the groups biggest property transaction in continental Europe. Keith Miller, chief executive of the Miller Group has been quoted as saying that with this acquisition, Bulgaria becomes one of the eight countries in which the company is operating outside the UK.
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Date: 2008-11-16 22:00:00 | Source: Propertywisebulgaria.com
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House prices in Rousse down by 10 report
House prices in Bulgarias Danubian city of Rousse have fallen by 10 per cent, and will continue to fall, Bulgarian National Television BNT quoted the head of the citys construction chamber, Georgi Stoev, as saying on November 16 2008.
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Date: 2008-11-16 22:00:00 | Source: Propertywisebulgaria.com
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Albena says may halve bed capacity for summer 2009
Resort operator Albena, which owns the hotels, retail outlets and infrastructure in the Black Sea resort of the same name, may keep half of the rooms locked next summer to avoid operating them at a loss, Albena executive director Krassimir Stanev said.
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Date: 2008-11-13 22:00:00 | Source: Propertywisebulgaria.com
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BulgarianIsraeli tiein to build congress hall in Veliko Turnovo
Bulgarian company CBA Property Investment, the real estate division of discount retailer CBA Bulgaria, has teamed up with an unnamed Israeli investor to raise a fivestar congress centre and a shopping mall in Veliko Turnovo.The news was announced during Israeli ambassador Noah Gal Gendlers visit to the town in central Bulgaria. Veliko Tarnovo offers investment opportunities in construction, transport, tourism and trade, Gendler said.
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Date: 2008-11-11 22:00:00 | Source: Propertywisebulgaria.com
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Home loans almost halve over three months
Bulgarias new home mortgages dropped almost in half in JulySeptember, compared to the previous quarter, central bank statistics show. Banks gave 6406 new loans worth 620 million leva from July to September, compared to 12 165 worth 761.7 million leva for the three months before that.Lenders have put lending plans on the back burner and are cutting down in all segments amid brisk consumer demand and growing appetite for cash, bankers have said.
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Date: 2008-11-10 22:00:00 | Source: Propertywisebulgaria.com
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30M euro openair mall planned for Bourgas
Developer ZBS plans to begin construction on the first openair mall in Bulgaria in March 2009, website investor.bg reported on November 10. The investment in the new shopping centre is estimated at 30 million euro.The Strand mall would be built on a six ha plot near the highway to Sofia, next to a Baumax hypermarket, currently under construction. The openareas will be built like pedestrian streets and will be covered in bad weather.
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Date: 2008-11-09 22:00:00 | Source: Propertywisebulgaria.com
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Super Borovets to apply for eco certificate
The main investor in the new Super Borovets mega ski resort is to apply for an EMAS EcoManagement and Audit Scheme eco certificate which guarantees that all work, products and services will be done in accordance with the highest European eco standards. So far, Super Borovets is still only on the drawing board, as construction is yet to be given the goahead.
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Date: 2008-11-09 22:00:00 | Source: Propertywisebulgaria.com
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Property market adjusting to dropping prices
As the global financial turmoil tore down enduring myths about the global economy, Bulgarias domesticallylisted real estate investment trusts REITs have started losing their appeal as safe havens.
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Date: 2008-11-09 22:00:00 | Source: Propertywisebulgaria.com
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Rousse municipality to sell off property in industrial park
An 0.8 h amp;1072; land plot in the industrial park of the town of R amp;1086;usse on the Danube River will go up for sale with a starting price of 25 euro a sq m. Mayor Bozhidar Yotovs proposal to sell the land needs only the municipal councils approval to go through.
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Date: 2008-11-09 22:00:00 | Source: Propertywisebulgaria.com
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