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Bulgarian Property & Real Estate News

Bulgarian Real Estate 2012 – market advice

The Bulgaria real estate industry currently has a lot of investment opportunities which many investors are rushing to take advantage of. This is especially so given the recent steps the industry has made in ensuring that the service delivery and transactions in the sector are streamlined. The regulations have over the years been streamlined, removing any unnecessary bureaucratic requirements while putting in place ones which ensure that a person seeking to buy Bulgarian real estate is well protected and encounters no obstacles in acquiring Bulgaria property. Having decreased over the last 2 to 3 years investment in property in Bulgaria is once again picking up.

The March 2012 market data from the National Statistics Institute in Sofia revealed that activity in the construction sector increased almost 2% over the February figure. In the civil engineering sector the increase was even greater and reached over 3% growth. The Bulgarian Economic ministry points to the data indicating an increase in demand for real estate from overseas as well as a surge in local demand recently. Credit conditions have improved recently and local Bulgarians are gradually dipping their toes back in the property market.

While exports have decreased marginally in the January-February 2012 period the reduction in GDP has been offset by a surge in tourist numbers. An increase in tourists from Greece and Russia has resulted in a record winter tourist season. Local hoteliers and tourist companies are gearing up for a busy summer as tourist numbers are expected to grow across the country. Over 1.5 million tourists are expected from Romania according to the latest information from the Institute for Tourism. This reflects an over 10% increase on the previous year. Read more…

Bulgarian real estate agents to set new standards

Over the next six months, new European standards, regulating real estate agencies, are to be adopted by all Bulgarian real estate agents, according to Maya Staneva, Director of the Bulgarian Institute for Standards. Staneva spoke during a national conference-discussion covering the current issues in the Bulgarian real estate sector.

The new real estate standards have been worked on for the last three years and they are currently at the final ratification stage in all member countries of the European Union, including Bulgaria. Read more…

New Bulgarian real estate development commences in Plovdiv

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…

Bulgarian Real Estate to grow 15% in 2008

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 golf courses aiming for rapid growth

Bulgaria real estate developers have already realised the huge attraction of top quality golf courses. 5 signature golf courses – being designed by golf stars like Ian Woosnam, Gary Player and Jack Nicklaus – are planned in various parts of the country.

Bulgarian real estate investors have realized that by building a golf course in an excellent location and combining it with quality facilities such as spa and wellness centers, horse riding, tennis, skiing and so on, gives you an excellent all season product. Golf brings to Bulgaria property investors something more up market and not associated with the more broad market budget type locations such as the Black Sea coastal resorts. 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…

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 Ski Property – challenging the French and Austrian ski resorts

Bulgaria ski resorts are now competing directly with resorts in Austria and France as British investors look for the next property hotspot. There has been a 40% rise in enquiries for investment property in Bulgaria over the last twelve months. Property buyers are hoping to get in now while property and apartments in Bulgaria remain cheap compared similar products elsewhere. Ski resorts such as Bansko offer cheap ski property in Bulgaria and positive investment returns, according to property investment specialist. Many investors are buying off plan at price as low as 35,000 euros for a fully furnished apartment in a luxury complex.

There was a 30% increase in British tourists to Bulgaria in 2005 and low cost airlines are increasing flights to the capital Sofia and Burgas on the coast. Several companies are targeting these new tourists and offering rental yields up to 9% guaranteed. Of course you need to weight up the risks involved in Bulgarian real estate. The property market in Bulgaria is still relatively new and not as regulated as more established locations. Property re-sales have yet to be tested as the market is very new. 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…

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