Luxury apartments located just metres from the planned Super Borovets ski gondola and golf course.
Luxury 4 bedroom chalet for sale in Borovets. Fully furnished and ready for the ski season.
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…
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 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…
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.
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…
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…
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
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.
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 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.
