A second project similar to the big project “Super Borovets” it is under development by the businessman Hristo Kovachki. It will be situated in Mala Tsarkva, Govedartsi and Maljovitsa. General construction plan of the area is now being prepared, and is about to be completed by the end of May. Joint company “Nadar 2006” was created last year for the purpose of the new project. 50% of the shares are owned by Samokov municipal and the remaining shares belong to “El-El Impex”, whose sole owner is Hristo Kovachky. Read more…
Bulgarian Property & Real Estate News
Property in Bulgaria third most profitable for Buy-To-Let
Property in Bulgaria has been ranked the third most profitable location for buy-to-let investors, lagging behind Poland and the United Kingdom, according to a report of property investment firm Assetz. Investing in property in Bulgaria is followed by France, Turkey, Greece, Spain, South Africa, Cyprus and Portugal as the top ten most profitable locations. Poland offers a 165 % net capital gain on cash invested, the UK – 63%, Bulgaria – 54%, France – 51% and Turkey – 45%, according to the study. At the end of last month The Observer ranked property in Bulgaria, Turkey and northern France as the current hotspots for British first-time buyers overseas.
Source: Sofia Morning News
Hyper Borovets
New ski projects are launched in Samokov region, while “Super Borovets” awaits its start. Hristo Kovachki is the new big investor in the region. Companies close to TIM Ltd also intend to invest in the region. Samokov and Borovets are quieter, in comparison to Bansko, where new ski, golf and spa projects for hundreds of million BGN are presented every single day. There are no huge billboards, advertising the next luxurious apartment complexes and signs “Great Deals: Land Plots for Sale”. There are no long lines of tracks and piles of construction materials cannot be seen in Samokov. In fact the region looks calmer, compared to Bansko, regarding the investment activity. All this is very positive for Borovets as it means it has not suffered from the chaotic and massive overdevelopment which has ruined Bansko. However Borovets has its own plans to develop the area and things around the “Super Borovets” started moving last month.
Bulgarian properties still a sound investment
Bulgarian properties have seen a meteoric rise over the last few years – fact! A decade ago, the country was seen as a poor, eastern block state riddled with crime and corruption but both international and home-grown developers soon realised its potential, and, thanks to huge investment, Bulgarian properties are now one of the world’s top property investments. Many claim the time of quick high returns has passed, but Bulgaria property still has a lot to offer investors who are prepared to take a slightly longer term view. Read more…