Investment fund Equest Balkan will acquire a stake on the development company behind expanding Borovets ski resort. The starting investment with be around 15 million euros and will result in the 51% shareholding. The company is acquiring the stake from Bulgarian construction company Glavbolgarstroi who just last year purchased the holding from the estate of the former banker Emil Kulev Read more…
Bulgarian Property & Real Estate News
Bulgarian Real Estate Investment fund Equest considering majority stake in Borovets project
Bulgarian real estate investment fund Equest Balkan is in talks with construction company Glavbolgarstroi to take a take in the company setup to expand and develop Borovets ski resort. Equest is currently debating at board level how to proceed and it is expect to sign a contract with Glavbolgarstroi which will confirm Equest as the majority shareholder in the Super Borovets project Georgi Krumov the director of Equest stated that they required a majority shareholding in order to be able raise the necessary financing for the Bulgarian real estate project. The result depends on a decision from Samokov municipality to confirm the transfer of Emil Kulevs land into the Rila-Samokov 2004 holding company. Read more…
Bulgaria property attracting new investors on the back of good returns
The latest real estate news after Bulgaria’s first month as part of the EU is that typically conservative investors like pension and insurance companies are starting to take interest in the Bulgarian property market. This new type of investor is interested Bulgaria real estate investments because the political and economic profile for the coutry has improve. There is less perceived risk now that Bulgaria is in the EU and also there is a plentiful supply of cheap credit.
During 2006 we saw several large scale Bulgarian real estate takeovers most notably the purchases of the Mall of Sofia and Business Park Sofia. According to Forton real estate brokers, the main interest for these investors will be prime commercial real estate and office developments in the major cities. Read more…
The search for something different brings British investors to buy Property in Bulgaria
The usual favorites of UK property investors, Spain and France seem to be dropping in popularity in the face of competition from new emerging property markets such as property in Bulgaria, Cape Verde and Dubai. The latest property report, from currency dealers HiFX, puts the trend down to a search by UK buyers for more interesting property investment locations. Property in Bulgaria has been especially popular recently.
“In a lot of scenarios the developing markets offer properties, which are a lot cheaper than more established locations” says Mark Bodega, marketing director of HiFX, commented. “As property prices have continued to rise quickly in the UK over the last year, as well as rising interest rates, we have noticed that overseas property investment has become increasingly popular with UK buyers” Read more…
Potential for Property in Bulgaria
Most developing countries arrive at a stage when they are no longer developing and instead are accepted as part of the regular club of investment countries. For Bulgaria this will most likely be in 2007 and it joins the EU and becomes accepted as a quality investment location within Europe.
There has been a lot of focus recently on investing in property in Bulgaria and many people believe that a lot of the profit potential has already been exhausted in the country. Certainly over the last 2-3 years Bulgarian property has been at the forefront of property investment in developing countries. For sure prices have increased dramatically in the last few years but it should be realized that this was from a very low base and in addition many of the properties that were being purchased were old and of low quality. Read more…
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…
Holiday home real estate in Bulgaria continues to develop
On August 24, an international real estate company published the first market overview of the holiday home real estate in Bulgaria. The report documents significant developments in recent years in both mountain and coastal resort areas. The market for Bulgaria real estate experienced significant development in the past year in these areas.
Demand for holiday homes in the country has taken off in recent years. The upcoming EU accession, the growth of the tourism industry, and the comparatively low prices of real estate in Bulgaria are among the main factors driving demand. Read more…
Bulgarian Real Estate Prices Up 20%
Bulgarian real estate prices have increased by 20% over the last 12 months, according to the latest research from London real estate agents. Only real estate in Latvia grew at a quicker pace last year. The growth is put down to increased economy output, improving infrastructure and legal frameworks and of course Bulgaria’s plan to join the EU.
Many UK citizens are becoming disappointed with life in the UK and opting instead to move to Bulgaria where life is easier and the cost of living is significantly lower.
A large percent of these buyers are planning to buy in rural areas, where they plan to settle down and live for their retirement. The climate in Bulgaria is an additional attraction. Some people are even moving their family and children to the new country where they feel there is less of a nanny state and you are free to raise you children in a more open and nature environment.
More than 50% are also choosing older properties which they can renovate themselves and thus save some further costs, although it should be noted that often renovation costs can exceed the actual cost of new construction. Bulgarian property agents expect that this rush to purchase rural properties will drive up prices in these areas by a further 20% in the next 2 years. Their advise to buyers is to always check the property before you sign any contracts and always us a regulated broker.
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…
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…