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Bulgarian Property & Real Estate News

Bulgarian properties in ski resorts expected to attract more Russians

Bulgarian real estate agents are involved this week in one of the largest international property exhibitions in Moscow.  They are presenting the latest Bulgarian properties to Russian investors interested in investing in Bulgaria.

With the ski season quickly approaching there is a focus on ski properties in Bulgaria. Agents are hoping to repeat the success they have had in attracting Russians to invest in the Bulgarian Black Sea coastal regions.

Attractive property prices are hoped to increase the number of Russian investors in the country’s ski resorts. Read more…

Vacancy rates increase for office properties in Bulgaria

The vacancy rate for office property in Sofia is likely to increase to around 23-28% by the end of this year as a result of several new office buildings opening in the next few months.

These new Sofia office buildings will bring the total amount of office properties in Sofia to around 1,250,000 sq m. The biggest amount of vacant office blocks is in the suburban parts of Sofia and in the Class A office category.

In 2010, the building of office properties continued despite the poor economic situation and several major projects that were started during the boom of 2006-2008 have just been finished recently. As a result of the increased supply the rental rates have dropped and now average around 10-12 euro per sqm for Class A office and 5-7 euro per sqm of Class B offices. As more supply comes online the rental rates for Sofia properties is expect to fall further. Read more…

Commercial Property in Bulgaria remains stable

New business property in Bulgaria has increased by a minimal amount in the first half of 2008. However several large scale office development are expected to enter the market over the next two years according to Raiffeisen Bulgarian Real Estate.

The market for retail and commercial Bulgarian properties remains stable and should see strong growth in the medium and the long term. It is estimated that foreign direct investments in the Bulgarian real estate market have declined by over 30% in the first six months over the year. Read more…

No real drops for Bulgaria real estate prices from global credit crunch

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.

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…

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…

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.

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