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Bulgarian Property & Real Estate News

New Escalator in Borovets Ski resort

For the new season visitors to Borovets ski resort will be transported by a new escalator to the main gondola lift of the ski resort. The escalator cost 200,000 euro and is 190 m long, the longest in Europe and the second longest in the world. The other innovation is a new ski-kindergarten in Borovets ski resort. It is equipped with two escalators for children and a lot of rubber toys for ski classes. The ski kindergarten project is worth 150,000 euro. Specially trained ski instructors will teach children to ski from 10 AM to 4 PM each day.

Source: Standart News

There is still time to profit from property in Bulgaria

The first investments in Bulgarian property were long before the country even thought about joining the European union. Now that EU accession is on the way next year does that mean and Bulgarian properties are no longer good investments. Not so say leading investment brokers. In fact in their opinion the advantages brought about by joining the EU are only starting to be felt in the Bulgaria property market.

The early speculators are gone but now they are replaced by more experienced and long term buyers. Property in Bulgaria is now considered a safe investment for the medium to long term with excellent capital appreciation and rental yields. Of course the market boomed in the run up to EU membership but there are still plenty of opportunities for the careful buyer who does their homework. Read more…

Bulgarian property developers look forward to winter season

Unperturbed by the warm summer weather, Bulgarian property development companies are getting ready for what is expected to be a strong winter selling season. Bulgarian property company Prima Invest has begun construction of a 15 million euro ski resort in Rila Mountain, which will take up to 4 years to complete. The Kartala ski resort project will target not only local Bulgarian skiers but also tourists from western Europe and nearby countries like Greece, Serbia and Macedonia.

Construction of new ski resorts in Bulgaria, driven by the ever increasing tourist number is set to be a major source of growth for the economy in the next few years. At present only 15% of the country’s tourism revenue comes from mountain resorts but the target is to grow this to atleast 30% over the next 5 years. Read more…

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…

Tourism Authority Lands Hand to Sofia 2014

Bulgaria’s Tourism Authority has declared its full support and cooperation to Sofia 2014 bid. The recently appointed tourism chief Mario Al-Jebouri and Sofia Mayor Boyko Borissov signed an agreement for strengthening the administrative and expert capacity of the two institutions to improve the bid’s chances to win.  As part of the accord, the municipality and the state agency will develop Sofia’s tourist infrastructure and plan joint events promoting the hosting of 2014 Winter Olympic Games. Read more…

Bulgaria Property investing – try out the ski resorts of Borovets and Bansko

Overseas property investors are just started to realize the potential for winter tourism in the Bulgarian property market. The country is currently one of the top property investment destinations in Europe. The ski resort of Bansko and Borovets have updated their ski facilities and accommodation and are now hoping to bid for the 2014 winter Olympics.

Bulgaria is fast becoming the new ski holiday location in Eastern Europe and Bulgarian property prices are rising as a result, with prices up over 100% in the last 2 years. However prices for property in Bulgaria are still much lower than surrounding countries such as Greece and Slovakia. The market has just started to offer mortgage finance which has lead to a boom in property demand.

Property investors from the UK are turning their backs on the more popular locations of France and Spain and looking for better profit in Bulgaria real estate. The recent article in the Telegraph highlights that that growth of low cost flight to Bulgaria will further drive up investing in Bulgaria. Prices for Bulgarian properties have risen dramatically driven by strong demand from UK buyers trying to snap up cheap properties in a country soon the join the EU. Read more…

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