Apartments in Bulgaria


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March 2009

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Bulgarian Wine

The Bulgarian wine VINI, a 2006 Thracian Valley Merlot, has earned the distinction of "Best Eastern European Red Wine" at the World Value Wine Challenge held by the Beverage Testing Institute in Chicago, according to a recent press release. VINI is produced by Sonoma-based Bulgarian Master Vintners, America's leading importer of Bulgarian wines.
The wine industry in America is going through a challenging economic period but VINI and a few other Bulgarian brands continue to gain popularity and market share there. Many internationally acclaimed wine producers are seeing the potential of Bulgarian wines due to the quality and the extremely reasonable pricing.

Sofia - Paris Flights

French airline Air France will fly Sofia to Paris twice a day from 30th March 2009. The company plans to attract more business travellers in addition to the tourist market.  Last year business trips from Bulgaria to France doubled to 14,000, said French ambassador to Bulgaria Etienne de Poncins.

Welcome to our March 2009 newsletter.

Property Insurance in Bulgaria

As an owner of a holiday home, whether it is in your own country or overseas, it is vital that you insure your property. Having purchased your holiday home you want peace of mind knowing that your apartment or chalet is protected when occupied or unoccupied.

Home owners should consult with insurance experts to assist them in choosing the right product for them and their property. Insurance premiums depend on many factors such as property location, the insured price, and the range of cover, and will also vary between insurance companies.

To insure your holiday home in Bulgaria you can expect to pay the following insurance premiums per annum:
Insured amount: 40,000 EUR - premium: 70 to 120 EUR Insured amount: 60,000 EUR - premium: 90 to 150 EUR
Insured amount: 70,000 EUR - premium: 125 to 225 EUR
Insured amount: 80,000 EUR - premium: 150 to 250 EUR
Insured amount: 100,000 EUR - premium: 175 to 300 EUR

For our clients at Concept Bulgaria we are happy to get competitive quotes for you from Bulgarian insurance companies.  You should also check with insurance companies in your own country for policies they can offer you for an overseas property. This allows you to choose the best product and premium for your property in Borovets.

Warren Buffett Eyes Bulgaria

A subsidiary of the investment company of US billionaire Warren Buffett, called Berkshire Hathaway International Insurance Limited, has expressed interest in entering the Bulgarian market.

The insurer who sellers automobile insurance in the UK has intentions to write payment protection policies for the Bulgarian market. Under the single passport rule, EU-registered banks and insurers can operate in any of the community markets without needing to apply for a local license.

It is good to see such an experienced businessman so confident in the future of Bulgaria.

Bulgaria - Among Soundest Economies in Eastern Europe

Foreign banking analysts think Bulgaria is one of Eastern Europe's best positioned economies to survive this global and economic slowdown.

Moodys, a credit rating and risk analysis company, have said that Bulgaria, Romania and Croatia have stable credit indicators. Bulgaria also benefits from a low public debt but the country's biggest advantage is the fiscal reserve, as commented by Ivailo Vesselinov, a Dresdner Kleinwort senior economist in London.

Traditionally Bulgarians were more likely to save for major purchases as they did not have access to mortgage or credit products until recent years. As a result the economy is not dependant on the credit availability that is currently causing problems for western economies.

Chamkoria Chalets - Construction Update

We are approaching the end of March and skiing conditions in Borovets are still excellent. The weather has been unusually cold here for this time of year and we are seeing a very long ski season this year. We have experienced very cold weather throughout March and a lot of snow, especially in the last week where we had consistent snowfall for a few days and almost blizzard conditions on some occasions.

Needless to say construction work has been kept to a minimum during the month of March as a result of the weather. We are eagerly awaiting the arrival of spring so that the building work can continue. The forecast indicates that it should warm up this week and we hope to bring you plenty of construction updates in April.

And finally...

If you have missed our previous newsletters and would like to see them, you can view them on our website.

Warm Regards.

Concept Bulgaria OOD