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Bulgarian Property & Real Estate News

Investors are keen to buy Bulgarian properties

Recently the Bulgarian property market has been one of the strong favourites amongst emerging market investors. The country has a myriad of different property offer but 3 main areas and strongly promoted to British buyers.

Firstly there is the capital city Sofia where ancient buildings sit alongside the more somber construction of the communist era. Sofia has a history that dates back over 3000 years but the latest Bulgaria property investor are more interest in the future years and what that will bring for investor in Sofia property. Average Bulgarian properties in the capital city are offered for prices around 950 euros per m2. One and two bedroom apartments in Sofia can be purchased for 40,000-60,000 euros. Read more…

Bulgarian properties lead the charge in European real estate investment

Bulgarian properties are fast becoming the hottest European property destination thanks to a raft of factors which are making it difficult for British investors to ignore this Eastern European gem. With a range of beautiful landscapes spanning the cultured capital of Sofia and the ever-popular ski resorts of Bansko and Borovets, Bulgaria is tempting more and more Brits with its endless buy-to-let possibilities. And it seems many investors would do well to enter into the Bulgarian properties market before its planned entry into the EU membership occurs and prices are pushed higher.

Mike Wellings, a British property developer based in the ancient city of Sofia, explained the benefits of entering the Bulgarian properties market sooner rather than later. He told the Independent: “If Bulgaria gets EU membership – widely tipped for sometime in the next three years – the city will become a viable option for firms to base their central European HQs. That’ll be a major benefit to the economy and demand for homes.” Read more…

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…

Fund to develop Bulgarian real estate, hotel and residential property in Kyustendil

Bulgarian real estate investment trust BenchMark Fund Estates said it will build a residential and hotel complex in Kyustendil, Southern Bulgaria, on an 89.1 ha plot it won at an auction organised by the local municipality. The fund and the municipality are yet to sign the contract for the purchase of the option to build a Bulgarian real estate complex consisting of 4- and 3-star hotel facilities, a conference center and indoor and outdoor entertainment venues. Read more…

Bulgaria Property Continues As Property Investment Hotpsot

Property investment group Assetz reported Bulgaria property confirms its standing as leading property investment hotspot. For the second quarter of 2006 the return rate of Bulgaria property was 137 per cent, Assetz reported. In March the figure reached 116 per cent. Decreasing mortgage rates in the country make borrowing cheaper. Deposits decreased as well, guaranteeing investors bigger returns. All these developments confirmed Bulgaria property remains an attractive option for property seekers. Read more…

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Why Buy Property In Bulgaria?

Many people will be spending their holidays in Bulgaria this summer and no doubt a large proportion of them will be considering buying a holiday home or bulgarian apartment in and around the Black Sea. Decisions have to be made regarding how much to spend and also the cost of mortgages for those willing to take a bigger risk on the more luxurious properties. Added to this is the competition from other countries like Spain, Germany, Morocco and most recently Russia. However property in Bulgaria has many advantages over its rivals; a faster growing tourist market, stronger economic growth and a realistic chance of stageing the winter Olympics some time in the not too distant future. These factors combined together will probably generate investment for many, many years to come, putting property in Bulgaria firmly on the map. Read more…

Europe Discovers Attractive Properties in Bulgaria

Bulgaria and Romania that are about to join the European Union (EU) over the next year are promising real estates hotspots, an international report claims. The report of the international consultancy company for real estates DTZ, as cited by the German Die Welt newspaper claims that properties in Bulgaria and Romania are emerging as attractive real estate hotspots following in Poland, the Czech Republic and Hungary.

The new East European property markets have already attracted the attention of the international investors. “Investors who are risktakers and have a spirit of discoverers are already working in Poland, the Czech Republic and Hungary”, the DTZ report reads. Read more…

Super Borovets is now Mega Borovets

There are almost 140 km of ski runs, 25 000 beds and 1 billion leva of investment. This is how sound the plans of the Samokov mayor Angel Nikolov for the years to come.The plans include the project for Borovets expansion, but also building a new resort and connecting them both with lifts and roads. In a few years Samokov will have a Business Park on 600 000 m2 in the northern part of the city and also a modern residential complex on 240 000 m2 in the southern part. Travel time from the capital will obstacles. The initiators don’t lack optimism and the foreign investors’ interest in winter properties is the main reason. Super Borovets will have… Read more…

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Bulgaria property still tops investment hotspots

Bulgaria property has managed to further improve its reputation as a property investment hotspot in the last three months, according to property investment group Assetz.  The Assetz Property Tracker reveals that in the second quarter of 2006, Bulgaria property offered investors a 137 per cent annual return on cash invested, up from 116 per cent in March.

The property firm said that borrowing is now also cheaper than it was in the spring, with mortgage rates having fallen from 7 per cent to 5.95 per cent. Deposits required have also dropped from 30 per cent to 25 per cent, meaning greater gearing and bigger returns for bulgaria property investors. Read more…

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Bulgaria enjoys strong economic growth

The property investment industry in Bulgaria has received something of a helping hand with news of significant economic development in the first quarter of 2006. The Nation Statistics Institute has reported today that gross domestic product (GDP) in the first quarter grew by 5.6 per cent when compared to the same period last year. As reported by the Associated Press, Bulgaria’s GDP reached 9.815 billion leva (£3.4 billion) in the period, with several sectors contributing. Growth of 5.6 per cent was reportedly assisted by an increase of six per cent in the services sector and 8.8 per cent in industry, although the agriculture sector struggled with a slump of 2.7 per cent. Economic growth in last year as a whole was 5.5 per cent and economic forecasts suggest this will be repeated again this year as Bulgaria continues to boost its standing in preparation for EU accession. Read more…

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