Over the next six months, new European standards, regulating real estate agencies, are to be adopted by all Bulgarian real estate agents, according to Maya Staneva, Director of the Bulgarian Institute for Standards. Staneva spoke during a national conference-discussion covering the current issues in the Bulgarian real estate sector.
The new real estate standards have been worked on for the last three years and they are currently at the final ratification stage in all member countries of the European Union, including Bulgaria. Read more…
Israeli and Bulgarian real estate company Melina will start work next week on its €65M real estate development in Plovdiv city center. The Markovo Tepe Mall will contain a mix of retail and business properties with an area of 8500m2.
The main project contractor will be Turkish company Intertek who is well experienced in the Bulgarian real estate market. Forton International will arrange the market and rental of the complex. Read more…
Bulgarian real estate company ERA has predicted a 15% increase in the prices of Bulgarian real estate during 2008. ERA says, the number of Bulgaria real estate deals during 2007 grew between 4% and 5%. Around 25% of the deals were made by overseas investors. 2 bedroom apartments with an approx area of 60m2 remain the most popular type of Bulgarian real estate. The annual increase of in mortgage credits is estimated at 62%, compared to an average increase of around 7% in the Eurozone area. Read more…
Bulgaria set up a special body that is to work for equalizing the Bulgarian real estate standards to those of the other EU member states, an independent branch organization announced Friday. The new committee is to regulate the activities of the Bulgarian real estate agencies and will help to diminish grey economy in the sphere, chair of the Bulgarian Real Estate Association Lachezar Iskrov said. Head of the regulatory body was elected Asen Makedonov, who is manager of one of the biggest Bulgarian real estate companies in the country. Read more…
Bulgaria real estate developers have already woken up to the massive pulling power of top quality golf courses. “Five signature courses – from the likes of Ian Woosnam, Jack Nicklaus and Gary Player – are planned,” says Chris Goodall from English language magazine Quest Bulgaria.
“Bulgarian real estate companies have recognised that by setting a course in an excellent location and combining it with additional quality attractions such as spas, wellness centres, horse riding, tennis and so on, gives year-round appeal. Golf is offering buyers the opportunity to buy top real estate not linked specifically to sea or ski.” Read more…
On August 24, an international real estate company published the first market overview of the holiday home real estate in Bulgaria. The report documents significant developments in recent years in both mountain and coastal resort areas. The market for Bulgaria real estate experienced significant development in the past year in these areas.
Demand for holiday homes in the country has taken off in recent years. The upcoming EU accession, the growth of the tourism industry, and the comparatively low prices of real estate in Bulgaria are among the main factors driving demand. Read more…
