Real estate investment trust BenchMark Fund Estates has signed a preliminary contract for the purchase of a 9,000 m2 development plot in the Bulgarian ski resort Borovets. The company plans to build a luxury Bulgaria apartments complex with a total built-up area of approximately 12,000 m2. Building will begin within the next 3 months and should be finished by mid-2009.
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Bulgarian Property & Real Estate News
BenchMark Fund invests in development plot in Borovets ski resort
Bulgaria Property prices edge up
Strong price growth appears to be continuing in Bulgaria property with the average Bulgarian apartment value rising by 1.6 per cent between April and June. The average price for a square metre of Bulgaria property has now reached 819.3 leva (£285), up from 806.1 leva (£280) in the first quarter, although the price increases have been anything but uniform.
Some of Bulgaria’s busiest areas, it seems, are experiencing the strongest house price growth, which would appear to be a reflection of Bulgaria’s progress as it approaches EU accession. Cities and town centres have gradually been developed to meet the demands of industry and tourism and Bulgaria property investors are now reaping the benefits. Read more…
New trends in Bulgarian property investment
Bulgarian real estate market tendencies show a considerable increase in the sales of hotels under construction. According to a “24 Hours Daily” report the largest part of such offers is concentrated in Bansko, Pamporovo and the seaside resorts. Until present investors showed interest in the purchase of completed hotels, especially by the seaside, or separate flats in Bulgarian apartment complexes. Read more…