 PROPERTY INVESTMENT MARKET IN BULGARIA TO REACH $3.7 BILLION BY 2011: PROGNOSIS 09:03 Tue 14 Aug 2007, source: Sofia Echo
The volume of the property investment market is expected to grow to $3.7 billion by 2011, as compared with the current $1.7 billion. Deutsche Bank property subdivision PREEF said in a recent report that the investment market of business property in Eastern Europe would grow by 100 per cent by 2011, investor.bg reported.
LOW-COST FLIGHTS – TO RAISE PROPERTY PRICES
12:00 Thu 04 Oct 2007, source: Property Wise / Sofia Echo
Statistics show that foreign citizens bought properties at a total cost of 310 million euro over the first quarter of the year, and it happened three months after Ryanair and EasyJet launched regular flights to some of the resort destinations in the country.
DRAMATIC INCREASE IN HOLIDAY HOMES IN BULGARIA
November 5 2007, source: Sofia Echo
The total number of holiday home units in Bulgaria “increased dramatically” over the first half of 2007, a Colliers Bulgaria report showed.
Supply of holiday homes in the mountain resorts increased by 52 per cent with more than 10 000 new apartments offered in the market.
Nearly 80 per cent of new apartments were built in the Bansko resort and the area.Another 13,500 newly built apartments were offered for sale in the coastal resorts over the same period, amounting to a 39 per cent increase, the report said. More than one third of these new holiday homes were built in Sunny Beach. The total number of holiday homes in June 2007 exceeded 76,500.
Supply continued to exceed the demand. Sales prices of resort apartments remained unchanged, between 800 and 1,700 euro per sq m.
Articles about investing specifically in the North of Bulgaria:
VARNA – THE "BEST" CITY FOR LIVING IN BULGARIA
15:48 Thu 06 Dec 2007, source: Property Wise
The Black Sea city of Varna enjoys the best conditions for living and working in Bulgaria, according to a survey conducted by Darik Radio in association with Bulgarian language daily 24 Chassa.
The research, conducted in October and November, ranked 35 Bulgarian cities according to 40 criteria. These included the availability of green areas, the number of kindergartens, road conditions, public access to wireless Internet, climate, investment, unemployment rate, recreational opportunities, cleanliness, signposting, facilities for disabled people, architecture, airport availability, parking and health service as well as the crime rate and various other benchmarks.
DEMAND FOR HOLIDAY PROPERTY AT BULGARIA'S NORTH BLACK SEA OVERTAKES THE SOUTH 11:55 Fri 17 Aug 2007, source: Sofia Echo
Demand for holiday property at the north part of Bulgaria's Black Sea increased substantially in 2007.
The towns of Kavarna and Balchik, together with the regions near the Golden Sands and St. St. Konstantin and Elena resorts have attracted investors' interest, imot.bg research showed, as quoted by Pari daily.
Demand for holiday property in these regions has increased by 40 to 50 per cent in the summer of 2007, compared to summer 2006 figures. The interest in such property even leaves behind that in the big resorts along Bulgaria's south Black Sea coast.
The increased interest in the region was attributed to the comparatively low level of development on the northern Black Sea coast, good infrastructure and proximity to Varna.
PROPERTY PRICES ARE RISING EVERY DAY
14:20 Wed 24 Oct 2007, source: Property Wise / Sofia Echo
Growing supply of new construction units, along with the emerging secondary residential market launched by banks, will also affect property prices, resulting in market stabilisation.
Real estate prices in Varna and Sofia have seen dramatic fluctuations over the last month. The average sale prices of residential units in Sofia at the beginning of the year stood at 650 to 700 euro/sq m, according to imot.bg statistics. Currently, small apartments in districts like Drouzhba, Lyulin, and Mladost already have hit 900 to 1000 euro/sq m, and prices of flats in 15 other regions vary between 1030 and 1400 euro/sq m. Apartments in 10 of Varna's boroughs sell for above 1000 euro/sq m.
With a yacht marina to be constructed, the BLD's representatives expect Kavarna region to become the most exclusive area on the Black Sea Coast and a centre for golfing and sailing 09:57 Fri 14 Sep 2007, source: Sofia Echo
Bulgarian Land Development (BLD), listed on the London Stock Exchange, announced the pre-sale stage of its second development to be marketed in the Northern Black Sea. July Morning Seaside Resort is a development spread over a 95,000 sq m seafront freehold site in Kavarna. The plot was assembled in 2006 through several off-market purchases. Start of construction is planned for the spring of 2008 (change of zoning pending) and completion of Stage 1 is expected in the summer of 2010.
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