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Home lending shrinks faster than corporate loans in JulySeptember
Bulgarian banks gave 9259 new corporate loans in JulySeptember, compared to 9724 in the previous quarter, data from the central bank has showed. Over the same period, households borrowed 103 332 times, down from 121 208 over the previous three months.
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Date: 2008-11-09 22:00:00 | Source: Propertywisebulgaria.com
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Most modern velodrome in Balkans to be built in Plovdiv
The construction of the largest and most advanced velodrome in South Eastern Europe is set to begin in early 2009 in the central Bulgarian city of Plovdiv. The modern facility will be constructed in the picturesque town, over an area of 12 hectares. It will be an Olympicsized complex, fully covered, and will be located at Iztochen Boulevard and Naicho Tsanov Street, Stroitelstvo Gradut weekly wrote on November 24 2008.
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Date: 2008-11-06 22:00:00 | Source: Propertywisebulgaria.com
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Industrial plans put on the back burner as economy reels
Investors have slowed down or halted industrial and logistics centre projects in the face of administrative hurdles and a worsening global financial market, showed a research of property consultants Colliers International. The projects fate will be decided in the next three or four months, said Simeon Mitev, manager of real estate agency REMAX Chance Group. A humble 23,000 sq m of speculative logistics areas entered the Sofia market in the first half of the year, under data by Colliers.
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Date: 2008-11-06 22:00:00 | Source: Propertywisebulgaria.com
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Property funds post dimmer 9month earnings
Gloom and glee were equally mixed in the ninemonth financial results reported by Bulgarian property funds, with many real estate investment trusts REITs worse off at the end of September compared to a year earlier.
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Date: 2008-11-02 22:00:00 | Source: Propertywisebulgaria.com
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Leading architectural studios shortlisted for design of Government centre
The Regional Development and Public Works Ministry has shortlisted six architectural studios for the design of a Government centre, meant to rise on the area near the sixth km of the Tsarigradsko Chaussee Boulevard in Sofia, Dnevnik daily reported.Out of 19 applicants, the ministry shortlisted FosterPartners, a Londonbased firm led by worldrenown architect Norman Foster, Zaha Hadid Architects, French studio Dominique Perrault Architecture, Obedinenie G3, the studio of Bulgarian architect Georgi ...
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Date: 2008-10-28 22:00:00 | Source: Propertywisebulgaria.com
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Resort operator Albena to sell two seaside projects
Bulgarian resort operator Albena AD has put up for sale its upscale holiday complex in Byalata Lagouna White Lagoon area, on Bulgarias northern Black Sea coast.
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Date: 2008-10-28 22:00:00 | Source: Propertywisebulgaria.com
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Balkan Trade House breaks ground on 10M euro complex in Pazardjik
Bulgarian architecture and engineering consultancy firm Balkan Trade House will spend 10 million euro to build a multitask complex in the southern town of Pazardjik, according to Filip Tsanov, who advises the project.The Fountains complex will be funded by a tailormade mortgage product by First Investment Bank. It will sprawl on 3.4ha and comprise 22 fourstorey blocks of flats, a swimming pool, sports facilities, childrens playgrounds, a kindergarten, a restaurant and an administrative centre.
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Date: 2008-10-27 22:00:00 | Source: Propertywisebulgaria.com
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Londonlisted property funds squeeze Bulgarian projects
Two funds listed on the alternative investment market AIM of the London Stock Exchange said they would slash real estate investments in Bulgaria because of the ongoing financial crisis. Black Sea Property Fund gave up its Evergreen gated complex that it planned to build in the country, while Bulgarian Land Development BLD has slashed the number of apartments it agreed last year to buy in the Paradiso Verde 2 complex in the Bansko mountain resort.
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Date: 2008-10-26 22:00:00 | Source: Propertywisebulgaria.com
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New military town to rise in Varna
The Defence Ministry has gone ahead with the documentation regarding the building of a military town in the Vladislav Varnenchik district in Varna. The town is supposed to be able to accommodate over 80 per cent of the military personnel in Varna and all other military installations in the surrounding region, weekly Stroitelstvo Gradut reported.
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Date: 2008-10-23 21:00:00 | Source: Propertywisebulgaria.com
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New office, retail building to rise on Tsarigradsko Chaussee in Sofia
Belgian company Ilpa Development will invest 25 million euro in the construction of a combined office and retail building on Tsarigradsko Chaussee in close proximity to the Metro and Technomarket superstores. Arco Real Estate, the company presenting the project on the market, said that the investor was seeking buyers for parts or the entire building. According to website investor.bg, Ilpa Development initially had plans to sell the building off plan. The construction already began and it is expe...
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Date: 2008-10-23 21:00:00 | Source: Propertywisebulgaria.com
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Bulgarian property prices gain 3 on average in Q3
The prices of Bulgarian residential properties have increased on average by three per cent to 1418 leva a sq m in the third quarter of 2008, compared to the previous quarter, data from the National Statistical Institute has showed. Flats sell for more than 1000 leva a square metre in half of the countrys 28 administrative centres.
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Date: 2008-10-23 21:00:00 | Source: Propertywisebulgaria.com
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CEE region to have 6B euro new malls in 2009
Shopping malls are booming in Central and Eastern Europe, where projects worth a combined three billion euro will open doors by the end of 2008 and a further sic billion euro next year, an analysis by market research firm PMR Research showed. Bulgaria is tipped for the second fastest growth in the region with its shopping mall market seen rising sevenfold to 760 million euro next year.
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Date: 2008-10-23 21:00:00 | Source: Propertywisebulgaria.com
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New bus terminal in Dimitrovgrad
Dimitrovgrad is set to get a brand new bus terminal by the end of 2009, even though the final documentation for the project is yet to be signed. The contract has been postponed by three months due to technical ambiguity surrounding the vertical planning of the structure, weekly Stroitelstvo Gradut reported. With construction reaching advancing stages, it was revealed that this particular part of the project needed a rethink, a redesign and subsequent reimplementation.
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Date: 2008-10-22 21:00:00 | Source: Propertywisebulgaria.com
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Largest residential project in Vidin
The construction has started of the largest residential estate, with regular flats, luxury flats, shops, and boutiques in the central part of the northern Bulgarian town of Vidin on the Danube River. Located on Yavorov Street in the town, the complex is close to the centre of the old town, about 200m from the river and 400m for the city centre itself, weekly Stroitelstvo Gradut reported.
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Date: 2008-10-22 21:00:00 | Source: Propertywisebulgaria.com
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Buyers snub holiday properties
Bulgarias holiday property market was saturated and big projects found no buyers because they were unprofitable, the managing director of Foros real estate agency Dobromir Ganev has said. Local company Terra Trans Consult has suspended a 200 million euro holiday village project in Balchik due to the severe economic conditions, the towns mayor Nikolai Angelov said. The companys Balchik Paradise complex was to deliver houses, a hotel, a spa centre, a conference hall and a cinema hall.
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Date: 2008-10-22 21:00:00 | Source: Propertywisebulgaria.com
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Mortgage rates hit new highs in September
Four Bulgarian banks raised the interest rates charged on levdenominated mortgage loans in September, data from moitepari.bg website, which compares loan and personal finance offers of different lenders, showed. The Moite Pari levadenominated index, which tracks the average annual interest rates of 20year mortgages, picked up five basis points to reach 9.61 per cent, the highest since was launched at the end of 2005.
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Date: 2008-10-22 21:00:00 | Source: Propertywisebulgaria.com
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