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Real Estate News Feed

25.06.2010 Re registration of your Bulgarian company

If you have open company in Bulgaria and own property or through a registered company the Bulgarian government now requires that you re-register the company by the end of 2010 only if your Bulgarian Company was created prior to January 2008.
Failure to re-register will result in the loss of the company and its assets (property, land etc.) and you will also incur a fine and will have to pay for the procedure to close the company. This could result in the company be broken down and sold off and may still be in the situation of owing money to the Bulgarian Government, which may follow you to your residential address.
Your company registration process can start either from abroad or when you come in Bulgaria. Just let us know the way that you prefer. You can give a Power of Attorney for the re- registration to us or our lawyer and we will sign the necessary documents on your behalf.
The Law also request that all Bulgarian companies, no matter whether they are trading or not, publish their financial reports in the online register, starting from the reports for 2007. This should be done within 2 months after their company re- registration.. This is also something that we or our lawyer can do for our clients.
Our advice is if you have a company in Bulgaria, not to wait till the last minute, but organize your company registration. Our lawyer will be ready to help you go through the whole process and act on your behalf.
Some of our clients already did the re- registration, so don’t wait till the last minute.

14.05.2010 Property market in Bulgaria

The most searched properties in Bulgaria are two – bedrooms apartments with iving area of 60 – 70 sq.m. The average amount, that the buyers pay at the moment for such housing in some regions in the bigger cities (Sofia, varna, bourgas), is 40 – 50 000 EUR.
Searching real estates in the segment is almost exclusively for satisfaction for their own needs. The investment goal of purchase begins to be felt only in recent weeks.
As an interesting trend of Bourgas and Varna is searching houses for permanent living in the surrounding villages, because of significantly lower prices. For example in village that is located 15-30km away from Varna you can buy new house with two bedrooms, a living room for the price of 20-25000 EUR., while in the city for this amount you can buy only studio.
The main factor for taking purchasing decision is the price. Other possible incentives are the leasing, including in the price additional extras – finishing works, built – in furniture, electric appliance.
Another important factor is the construction type and the extent of readiness. During the period almost is missing searching of properties in early construction stages, as these properties appear to be with high risk. The main condition for purchasing an apartment in new construction is at least presence of Act. 15, and in most cases – use permit.

29.03.2010 Bulgaria destination for many Romanian tourists over Easter holidays

According to the report, about 10 000 Romanians will head south across the Danube to Greece and Bulgaria. They are preparing to come on the Bulgarian Black Sea coast in force over the Easter holidays.
Bulgaria is one of the destinations that is very close to the Romanian border and very attractive price-wise. Additionally, Bulgarian and Romania people are orthodox.
Bulgarian hotels are offering three day all inclusive packages starting at 77EUR, increasing to 200EUR in five-star hotels. Also there are many houses for guests where you can rent a room at reasonable price. In some tourist Bulgarian villages there are all houses for rent where you can spend the holidays with your friends and family.
This year the most of the hotels offering 20% discounts because they want to fill their hotels to capacity.
The other discounts are special discounts for children.
It is expected that about 100 000 Romanians will chose to stay in their own domestic resorts, where discount packages knocking 20% off 2009 prices are attracting holidaymakers.
This will attract many tourist and some of them searching to buy Bulgarian property will hace the chance to visit them. This is combination between holiday in Bulgaria and searching for cheap Bulgarian property near Bulgarian sea , mountain resorts or Bulgarian villages.

16.02.2010 New project for attracting tourists and buyers in Bulgaria

In Bulgaria is developing a new project for attracting more tourists. This will be implemented with “Eden’’ (Paradise) program, approved by European Commission. The program is aimed for developing non-traditional excursion routes, and the theme this year is “Water Bulgarian tourism”.
This will attract not only tourists but property buyers as well. This excursion is chance to know Bulgaria and find your dream Bulgarian property. According to property prices this will be very good investment.
The decline of rural Bulgarian property prices is 25% to 30%. Now is the best time to buy property at very law price. For example in Vratsa region can buy house up to 5000EUR
In Varna and Dobrich region the prices of sea properties reduce to 25%. House at good price can be find and can be very good investment.
Sofia is still one of the best Bulgarian destination for buying apartments. At the moment you can find good offers for the price 650 EUR to 1000EUR for luxury properties, even less.
Pleven, Vratsa, Stara Zagora regions are ones of the destinations that property buyers are interesting in. The reason is the good location of the properties and very low prices.

04.02.2010 Yang people – the most active clients on the Real Estate market in Bulgaria

The number of yang people who are buying properties in Bulgaria is increasing. According to buyers who area between 25 and 35 years old, now is the perfect time to own property, as the trend of continuing reduction in property prices is getting fades. In many cases the clients are selling their hereditary and buy one or two apartments, houses.
At the end 0f 2009 and beginning of 2010 began to fell the stir in the sector. For the second half of this year, the real estate agencies reported sale growth in the country average of 30% approx. against to the first half of the year.
When clients is choosing which apartment to buy important is not only the price, important is and the location of the Bulgarian property. The yang buyers have new requirements not just for the property, but also to the area around it. Another factor is a convenient transportation to employment, near parents’ home, good infrastructure and enough green space for walk of small children.
Role of the retail property market and banks have and the banks.

21.12.2009 Today is the first day of astronomic winter

Today 21st of December is coming the first day of the astronomic winter in Bulgaria. It is the shortest day of the year. The night is the longest.
This night at 19.47 will come the astronomic winter. It is real winter.
In Bulgaria there are still few ski resorts, which offer good condition for skiing and low prices where you can spend nice time as Borovets, Samokov, Smolyan, Bansko, etc. The snow cover in the mountains at the moment is around 40-60 sm. It is good for skiing.
If you are interesting in Bulgarian properties you can combine your trip and Holiday with viewing trip of some properties in a mountain region. This will help you enjoy the beauty of Bulgaria in a winter time. Also you can make and good investment, because usually in this time of the year prices of property market are lower.

05.11.2009 Bulgarian property market

The number of property deals taking place in Bulgaria has almost halved over the past year, a new report has concluded.
Research carried out by Raiffeisen real estates found that processed transactions in the country fell 42 % in the first six months of 2009 when compared to the same period in 2008.
In the capital Sofia the decline was 58%, a possible indication that there may be a greater amount of real estate available to overseas property investors looking to buy in the city.
Potential buyers at all real estate sectors are waiting, with the only active [investors] on the market currently being those with riskier profile.
The news source noted that many potential customers are waiting to see if prices decrease to lower levels before making purchases.
Earlier this month, figures from the country's National Statistical Institute obtained revealed that prices rose 0.1 % in 2008 in spite of the economic downturn.

05.10.2009 Only 2 BGN to be the minimum foundation capital for company registration in Bulgaria

At this moment ,Bulgaria is one of the countries in the world with the lowest minimum foundation capital.
According to Executive director of the confederation of employers and industrialists in Bulgaria, Evgeni Ivanov, decreasing the minimal foundation capital from 5000 BGN to 2 BGN ( about 1 EUR) will create conditions for a quick registration procedure.
This way the law will stimulate entrepreneurs and they will create new goods, new jobs and services.
It is believed that this measure will raise the level of entrepreneur ship in Bulgaria.

28.09.2009 British buyers return in Bulgaria

Data of the company Conti show that 31 % of all searches on houses abroad by British nationals have been in France, followed by Spain with 22 %.
That’s mean that the Investors from UK are turning their backs on countries like Bulgaria and choosing more traditional countries to purchase properties, according to the latest figures.
General inquiries about properties in France and Spain have already reached 53 % of the total volume, while Turkey ranks third in the rankings by 13 %. Portugal and Italy also rank higher in the ranking, while interest in Bulgaria and the United States decreased significantly compared to 2008.
Demand for properties in France and Spain surged last year as investors started to shun the so-called emerging markets in favour of more familiar destinations in the Mediterranean and elsewhere.

26.09.2009 Restoration of the housing market will go from the luxury segment

Segments of the elite properties will be recovered first from the crisis because of the high quality of properties and intransient value of these properties offer - location, quality, prestige.
The market in Sofia will be restored first, followed by Varna and other cities. Definitely there is a hunger for quality housing and offices and found that the transactions will resume more sensitive to the early summer of 2010, locked by the agency for elite real estate.
By the end of 2009 is expecting a slight increase in the number of successful sales in response to positive news from the U.S. and Western Europe for out of economic crisis. Moreover, peace is back among investors and capital markets are even a month in a row on the rise. Expect stability in the prices of luxury properties.
By the end of 2009 by the agency expects a slight increase in the number of successful sales in response to positive news from the U.S. and Western Europe out of economic crisis. Moreover, calmness is back among investors and even the capital markets are in a row on the rise. Expect stability in the prices of luxury properties.
Whit calming of the property market and news about stability in the economy we expect the stress of the property market and to move buyers and sellers to return.
There are indications that banks already have enough resources and gradually returned to the granting of mortgage loans. What is needed is a new balance in the market and now everything works in this direction. Demand and supply will eventually meet again and deals will start to conclude.

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