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Easter is One of the most important Christian holidays in Bulgaria and we would like to inform all our clients that our office will not work from April 22nd till April 25th . Our office will be open on April 26th Tuesday.
If you have any questions or wants to make an appointment for viewing trip after the holidays please contact us on: office@bulgarianhouse.com and 00359 898 422 816 at any time.
Happy Easter!!!
The general secretary of the Russian Federation at the Russian Embassy in Varna, Yuri Soloviev said that about 100,000 Russian citizens acquired property in the Black Sea coast in Bulgaria.
Russians mostly buy real estate next to the big resorts on the coast or in the mountains of Bulgaria. However, there are those who buy real estate in the small villages.
Many Russians are looking for family Bulgarian properties-houses with sea view or apartments in urban areas. Some decided to move the business to Bulgaria and moved to a permanent place of residence.
Great demand, which had been led by English-speaking world, is now replaced by Russian-speaking clients.
The prices of agricultural lands in Bulgaria are among the cheapest in European Union, a new study shows. According to rating advisory firm “Savills”, based on Eurostat and other sources during the period 2007-2009, the prices of the agricultural land in Bulgaria has third rank among the lowest levels in the EU. Cheaper prices are only in Lithuania and Slovakia.
According to the information, the property prices in Bulgaria at the end of 2008 are on average around 170EUR per 1000sq.m.
For comparison, in Ireland, which was on first place for the same year 2008, the prices have been more than 40000EUR per hectare.
Statistic from 2000 to know shows that the prices in Romania, that for the last few years have been of fourth place, were lower than those in Bulgaria till 2006.Then the prices in our northern neighbor began to grow rapidly and till 2009 reached 3500EUR per hectare.
The prices in Bulgarian for agricultural land passed the limit of 1000EUR per hectare in 2006,but the place of growth remain much slower than all the countries in Central and Eastern Europe. The prices in Hungary are comparable to those in Romania, but the prices in Poland are the most higher in the region starting from 5000EUR per hectare at the end of 2009.
The main reasons for increases of the agricultural land prices are the agricultural subsidies and improving economies in the region since the adoption of EU countries.
Today we celebrate the national holiday in Bulgaria- 3th of March. 133 years before that date in 1878 have been sign peace contract between Russia and Ottoman Empire. Which put the end of Russian-Turkish war 1877-1878.
The date March 3 marks the beginning of the Third Bulgarian Stat.
BULGARIAN HOUSE LTD CONGRATULATE ALL BULGARIAN PEOPLE AROUND THE WORLS AND ALL BULGARIAN’S FRIENDS.
2010 was a difficult year for the Bulgarian property market a whole. We observed drastic drops in the property prices in all segments. But in the last quarter of 2010 appeared indications for stabilization. Searching of properties started to rise slowly, property prices starred to stabilize and to take mortgage loan is easier. In the next few months we expect smooth growth in the Bulgarian property market.
The number of property deals on Bulgarian real estate market in January 2011 was double that of January 2010. Usually the number of sales at the start of the year is lower, but this is this year is different. One of the reasons is the discounted price of many properties- this includes village houses, apartments, sea properties, agricultural lands, forests, town properties, etc.
This is a sign for the property market a whole, because the trend is indicative of Bulgaria’s real estate market.
Residential property prices will stabilize in 2011. Even we can expect slight increase in prices with 2-5 %. The clients are looking for new buildings, renovated village properties, new flats and properties with good location, luxury houses and luxury apartments. Specifically for Sofia- search price range is 700-900EUR/sq.m depending of the location and quality of the property.
As you know till the end of this year all Bulgarian companies had to re-register. With the new adopted law the deadline for re-registration of companies is extended with one year. The term and should to expire on 31 of December 2010. Now there is extension of 1 year to 31st of December 2011. The period for re-registration have been continued on 30.12.2010 because the congestion of the tax register.
More information you can read bellow:
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 2011 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.
If you have any question , do not hesitate to contact us on:
office@bulgarianhouse.com
skype:bulgarianhouse.com
Data from the National Statistical Institute highlighted that house prices fell during the second quarter of 2010 by an average of 0.8 %. This is a good opportunity for all customers looking for buying property in Bulgaria. The most attractive regions left Varna and Dobrich for sea coast and Stara Zagora, Veliko Tyrnovo, Elena for mountain regions. Now is appropriate time for viewing trips combining it with holiday taking the low prices of the hotel offers.
In news which may interest those looking for house in Bulgaria specially in Varna or properties for sale in Stara Zagora, the data highlights that 1,441 residential permits were issued between April and June 2010 for a total of 3,933 apartments, reports the Novinite.
This represents increases of 46 % and 41 per cent respectively, compared with January to March 2010. However, it marked drops of 21 % and 13 % year-on-year.
In particular, construction is picking up in the Varna region, where 176 permits were issued, followed by city of Sofia, the Burgas region, the Plovdiv region and the Sofia region.
The number of construction permits issued in Bulgaria increased in the second quarter of 2010, compared to the first three months of the year, according to figures from the National Statistics Institute.
The highest number of residential units will be built in Varna, followed by Blagoevgrad, Sofia and Plovdiv.
The lowest rents since 2002 are offering on Sofia’s main street, according to consulting company Forton International
As of August 2010, prices are around 55 euro a sq m for a store on some of Sofia's elite streets, as opposed to 120 euro in 2005, when prices were at their peak. Rents have gone down by a further 30%in the second quarter of 2010 in Sofia, while in other cities across the country, the decline is between 43 and 5%, Forton said in a report.
Additionally, new malls which have been already under construction, encompassing more than 550 000 sq m of retail area, have been frozen indefinitely because of the crisis and because of decreased demand and the apparent oversupply.
Meanwhile, 163 000 sq m of new retail area was made available on the market with the launching of several new malls, such as The Mall in Sofia, Galeria Plovdiv and Grand Mall in Varna, which means that there are now more than 485 000 sq m of "modern retail area" constructed in Bulgaria. This translates into Bulgaria surpassing both Greece and Ukraine in terms of the amount of retail area per capita of population, with 64 sq m per 1000 people now available.
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.
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.
