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Bulgarian Property & Real Estate News


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Good news in general for Bulgarian tourism


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The business traveler segment of Bulgaria tourism market has suffered a slowdown in Q1 2012. Many of the business hotels in Sofia have reported poor trading so far in 2012. The drop in bookings is attributed to 2 main factors; firstly the continued global economic problems and secondly the extremely cold weather in Sofia for the first 2 months of the year.

By contracts the local ski resorts have benefitted from the extreme weather and are enjoying one of the best seasons in several years. As well as an increase in foreign tourists there has been a boost from more Bulgarian skiers and snow boarders. Read more…


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Low tax rates boost investment in Bulgaria


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The latest research from KPMG tax consultants shows that Bulgaria is one of the top ten countries globally with the lowest tax rates. It is bettered only by tax havens like Hong Kong, the Bahamas, and Caymen Islands.

The effective tax rates are calculated using total income tax and social insurance costs over gross income before any deductions. The results factor in both the personal income tax rate and social security rates for workers earning 100,000 USD. The survey was conducted across 81 countries.

Overall the survey shows that the main area of tax rate changes in 2010 were in Europe. European citizens still pay the highest personal income taxes rates globally. Read more…


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German investing in Bulgaria planned to increase


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Angela Merkel was in Sofia yesterday to meet with he German Bulgarian Chamber of Industry and Commerce. During the meeting they discussed the chambers plans for increasing by 100% the German investments in Bulgaria and the also doubling the bilateral trade by the year 2015.

Merkel was the main speaker at the event, which was attended by over 350 delegates,made up of German businessmen and representatives from several Bulgarian ministries including the Bulgarian prime minister Borrisov.

The 2015 Action Plan lists several approaches to increase the number of Germans investing in Bulgaria and also Bulgarian trade with Germany. Germany is currently Bulgaria’s largest trading partner. Read more…


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New auto manufacturer for Bulgarian market


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The Great Wall Motor Co as announced that it will join with Litex Motors from Bulgaria and will start producing vehicles in a factory in Lovech, Bulgaria.

Great Wall Motors is China’s biggest auto maker and has signed a partnership agreement with Litex Commerce from Bulgaria. The signing on 15th October was watched by the Bulgarian PM Boiko Borrisov. the prime minister stated that this would be a major Bulgarian investment and a significant benefit to the Bulgarian economy.

The overall annual production from the factory is estimated at 50,000 units and 4 different models are planned including – an SUV, a pickup and two standard car versions. Read more…

If you are looking for Bulgarian real estate or off plan property in Borovets look no further than Concept Bulgaria.
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