Latest Property and Economy news from Bulgaria. News for Visitors and Investors

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.

26.08.2009 Perperikon was chief economic center in the Eastern Rhodopes

Newly discovered ancient and medieval inscriptions of Perperikon define it as a significant commercial and economic center in the Eastern Rhodopes in 4-5 century.This announced professor Nikolai Ovcharov.
“The inscriptions were the first discovered epigraphic monuments of Perperikon. Information for Anatolian and Syrian settlers in this region of Thrace show strong development of economic relations within the city of the Roman Empire, "said Ovcharov.
According to him, two of the inscriptions are in Latin and dated 4-5 century. They show the economic development of Perperikon in Late Antiquity period. The inscriptions were discovered in the beat of the disclosed parts of the Roman road and blacksmith's workshop, dated 4-5 century.
In recent days was found and lead seal from the late 11th century. On it is inscribed the name of the eminent dignitary proedar Muselii Bakuriani.

26.08.2009 Bulgarian Black Sea properties decreased with 15 percent up to 70 percent

The crisis led to a drastic reduction in property prices, acknowledged yesterday representatives from the industry. The price of the sea real estates fell from 30% to 70% compared to the same period last year. The largest decline is for properties that are on the second, third or fourth line.
The price of the dwellings that are located at first line went down less. The luxury building will not decrease so far and is not expected to have such.
Dominant part of foreign investors are now looking to buy apartments "per kilogram" of slow sell projects. "The Russians and Ukrainians are major investors for the Black Sea properties. Even at this time there is reading raising real estate market livelineless. Interest is primarily indicated to objects of North Black Sea with prices over 250 000 Eur.
Data from the registering real estate agency show that property deals for six months fell by 1/3 compared with the same period in 2008. In all big cities and sea resorts there is decreasing of property selling’s. For sofia, Varna and the region around Samokov,Borovets the collapse is about 50%. Growth of over 28% is reported in the judicial area of Razlog,Bansko and Blagoevgrad - with 17%.The real estate price in the biggest cities is around 500-600 Eur per sq.m.

21.08.2009 Stable development of the property market remains a priority despite crisis

The stability development of the real estate market remains among the highest priorities for business despite deteriorating climate. This was showed by the latest global survey of the problems of sustainable development in the sector led by the Royal Institute of licensed real estate appraisers (RICS).
About 40% from the representatives of companies from the real estate sector, who participated in the study, believe that the stable development is more important issue for their clients now than it was last year. Nearly half of the investigated people believe that the degree of the importance of the problem is unchanged, while below 10 % believe that it is lower than last year.
In UK 33% of the experts believe, that the problems related with to the stable development are essential, but 17% are minor.
Total 28% of investigated people indicated the most important issue the energy effectiveness. About 22% these are ecological problems related to transport and 19% consider the most significant excess consumption of natural recourses.
Earlier this week was it was announced that EU earmarked a total of 200 billion EUR on various programs to support the construction sector of sustainable development.
Recently it became clear that the European Commission has launched a pilot project which aims to develop a system for environmental assessment of commercial buildings.

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