Bulgaria Cheap Properties

The price of residential construction projects will increase on the average by two to three euro per sq m this autumn. Design and planning of office property will cost 20 to 30 per cent more than work on residential projects, chamber of architects representative Dimitar Mladenov said. Mladenov took part in a discussion on the problems of the architecture and construction sectors. New ways to calculate the

Bulgarias capital of Sofia ranks third in property market attractiveness according to recent research of Global Property Guide GPG. The ranking included 12 European capitals and placed Bratislava and Istanbul at the first two positions. GPG compared several factors including prices per sq m, annual rental income, taxes, transaction costs, GDP and legislation in the country, investor.bg reported.

Bulgarias participation in the 58th congress of the International Real Estate Federation FIABCI showed that the country gains popularity as a serious segment of the international real estate market.The forum took place from May 28 to June 2 in Spains Barcelona, Focus news agency reported. Representatives of the largest companies in the sphere of real estate, financing and banking institutions took part in the event.

Most of the apartments to be constructed in Bulgaria will be located near the countrys biggest resorts. Residential property projects totaling 1.77 million sq m in area received construction permits in the first three months of 2007, Sega daily reported. National Statistical Institute NSI data showed that 75 per cent of these apartments will be located in the regions of Bourgas, Varna and Dobrich at the seaside

On June 5 Sofia mayor Boiko Borissov, US ambassador to Bulgaria John Beyrle and British ambassador to Bulgaria Jeremy Hill launched the construction of Sofia Airport Centre. The 250 million euroworth business park will spread on a total area of 165 000 sq m. Nearly 100 000 sq m of the total area will be developed as class A office space. The centre will also have industrial and logistics areas, as well as a hotel.

Average prices of new apartments in some regions of Bulgarias coastal town of Bourgas went down in May. Apartment prices in the centre of Bourgas decreased by four per cent to 1050 euro per sq m and by six per cent in the regions near the centre compared to April figures, real estate agency Foros said as quoted by investor.bg. Prices in the regions near Bourgas remained unchanged. Prices in Sarafovo varied