Bulgarian property prices increased almost 9% in Q4 from Q3 2007. The annual price increased were just under 35%.The latest research from Industry Watch property group highlights the strong growth in the Bulgaria property market. The research agrees with statistics released by real estate consultancy Knight Frank which shows that the Bulgaria real estate market was one of the fastest growing in the word during 2007. The company reports that prices have increased by 34% on average over the last 2 years. They expect however that price increases will reduce to just 15% or 2008.
Bulgarian Property & Real Estate News
Glavbolgarstroy to team with Deutsche Bank on Rila motorway project
Deutsche Bank has signed up to provide advisory services to Bulgarian property construction company Glavbolgarstroy and help it in the initial preparation and design phase of the Rila motorway project. The German bank will work with Glavbolgarstroy to prepare its bid for the construction of the Rila motorway which will connect the Hemus, Struma and Trakia motorways and also speed up the link to Borovets ski resort. The investment bank will not be financially involved in the project at this stage but is in principle interested in being involved on the financing element of the project. Read more…
Borovets Property ranked as top location for ski property
The Bulgarian ski resort of Borovets is listed in 6th position in the Sunday Tribunes Top 10 property investments for 2008. Dubai ranks first on the list as one of the world’s fastest growing cities. Also included are: Ibiza, Poznan, Toulouse, Geneva, Orlando, London, Hurghada and Silver Coast. Bulgaria property has been one of the hottest property markets in Europe for the last couple of years. But in the haste to snap up a bargain, the Bulgarian property market in some parts of the country has become a little too crowded and overdeveloped. Read more…
Attraction to Bulgarian real estate continues
Despite some negative news articles saying that the Bulgarian real estate market is not so appealing to foreign investors any more, Andrew Regan, a Scottish journalist, states that the Bulgarian real estate boom does not seem to be easing at all. Bulgaria plans to join the Euro zone in 2011 is leading to a rush of investors trying to buy cheap Bulgarian properties now before the prices rise when they join the euro zone. Local Bulgarian real estate agents are also suggesting there will be more demand for Bulgarian property when Bulgaria joins the Euro in 2011
Investors switch from Russian to Bulgarian properties
Difficult conditions for home loans and high interest rates are making Russia’s property market less attractive, pushing investors to Bulgarian properties and also the Cyprus, Greece and Montenegro property markets, Russian daily Kommersant reported. The article describes the Bulgarian properties market as heaven for investors, who can expect high returns, an average of 20%-30% annual rise in property sale prices and low interest rates on mortgage loans. “Renting out makes it easier to pay off the credits,” the article adds. Russians’ interest in Bulgarian properties for sale is fuelled by the country’s good reputation as traditional destination for holidays.
Bulgaria property no.1 for growth
According to the latets Knight Frank House Price report Bulgaria property currently has the fastest growth rates. Overall prices for Bulgaria property in the period up to Q3 2007 has risen by almost 31%. This is just behind the quickest growing country Singapore where real estate prices grew by some 34%. Knight Frank has cautioned to be careful in certain parts of the Bulgarian market as it believe that areas like Bansko and the Black Sea beach resort are reaching saturation and supply of properties in these areas now exceed demand. In other news it predicted that UK and Irish overseas property ownership will double within five years. Read more…
Bulgarian Property Investments Remain Profitable
Bulgarian property is still one of the best investment options in Eastern Europe remains the runaway leader. Investors in Bulgaria are currently receiving over 80% return on investment in Bulgaria real estate. Other markets such as France and Cape Verde are still popular with UK buyers accordingly to the latest report from Assetz real estate agency. In Eastern Europe however Bulgarian property remains the favorite market as property investors go in search of higher yields and larger profits. With the growing availability of mortgage finance many buyers are now trying to leverage their purchases and in some cases are using financing to purchase more than one property. Local Bulgarian buyers are also getting on the mortgage finance bandwagon and this is further driving up the sales prices. Local estate agents make clear that investor should carefully assess the expected rental rates and occupancy levels before deciding to purchase using a mortgage.
Next year will see a 40% increase in Bulgarian property sales to foreigners
Foreign property investor interest in Bulgaria property will rise by 40 per cent for 2008, according to the forecasts of Bulgarian real estate consultants.An increased level of proficiency and boosted quality of customer service will guarantee Bulgaria property its ranking among the top three preferred destinations for real estate investment throughout Europe, officials from the Moscow subsidiary of international real estate consultants BG Estates Worldwide declared following the 17th international property exhibition, DomExpo, held in the Russian capital. Read more…
EU accession helps boast Bulgarian Property market
Joining the European Union has helped increase the confidence of Bulgarian property investors. Well know property investment website Buy Association claims that Bulgaria was already one of the most popular property investment locations in eastern Europe, but by joining the European Union it is now much easier for foreign investors to buy Bulgarian property and apartments. The local real estate laws are now comparable with those in Western Europe and this gives greater protection to buyers. Combining this with the increasing availability of mortgage finance means that Bulgarian apartments and investment properties a being snapped up by many investors. The increased popularity of Bulgarian properties and apartments comes from the fact that prices have risen rapidly in more development markets like Portugal and Spain. Coastal properties on the Black Sea, ski property developments and bulgaria apartments are said to be the most in demand at present.
Bulgaria property prices increase at record rate
The Bulgaria property market has listed second highest increase in prices globally in Q2 2007. According to a new global property survey, Bulgaria property prices jumped by over 27% in Q2 of this year, increasing by almost 15% compared with the same quarter last year. The impressive growth pushed Bulgaria property up eight spots in the Knight Frank review. Global real estate prices increased almost 8% annually in the 2nd quarter of 2007, according to the report. House price growth across much of Europe has stalled or begun to fall. Strong countries from previous years have seen their growth rates slow noticeably. Price drops have continued in countries like France, the Netherlands, Denmark, and Switzerland. The German property market also continues to stagnate, with y-o-y price growth having dropped for the last four quarters. Bulgaria property was one of the few areas to buck the trend.