Bulgaria Cheap Properties

There is more than enough property for sale in Bansko, but interest in buying any is dwindling fast, according to a report in a Bulgarian newspaper. The property market in the mountain resort town has been at a standstill since the beginning of 2007. Investments worth millions were blocked, Pari daily reported. Real estate agencies were already closing their offices in Bansko because of lack of demand, the

Bansko municipality major Alexander Kravarov has ordered a halt to construction in the famous mountain resort. The ban covers 28 areas, including the hotel and the villa zones, investor.bg reported. Construction will remain on hold until detailed zoning plans and street regulations for the areas are completed. While the ban is in effect, no permits for construction or change in the purpose of the agriculture

Investment fund SECURE Investment Ltd has announced plans to invest nearly 150 million euro in South Eastern Europe, focusing on Bulgaria, Romania and Serbia. Forty per cent of the fund is owned by Italian investment company Aedes Investissement. In February 2007 it announced plans to invest in the property market in Central and Eastern Europe, investor.bg reported. The companys strategy

Bulgaria and Russia rank among countries with highest rates of tax on residential property deals, says Global Property Guide research. Research examined several types of expenditure including registration fees, real estate agency commissions, taxes for purchase and VAT, 24 Chasa daily reported. Results for Bulgaria and Romania showed that purchase expenditures were nearly 25 per cent of the property value,

Regular weekly checks on construction in Strandzha natural preserve are to start, Deputy ProsecutorGeneral Mitio Markov said. Information that construction is to begin at the Golden Pearl development, which is meant to be suspended, was the reason for the checkups, Focus news agency reported. Building of the development is frozen, but the construction site was provided with electricity and water and

The Bulgarian town of Varshets will boast a large spa and balneology complex, to be completed by August 2009. The complex will cover 5000 sq m with a total builtup area of nearly 15 000 sq m, Pari daily reported. The plan envisions a fivestar hotel and a holiday apartment complex. It will also have entertainment attractions, a multifunctional congress centre and various business facilities. The region of Varshets

In the past 30 years, Britons have transferred their failed colonial spirit into the purchase of holiday cottages in foreign countries, forming expat communities in Spain, Italy France and the sunny beaches of Bulgaria. Still, David Cosgrave, representative of Romanian real estate company OffPlan, said that Bulgaria is over. The country had been a disaster for investors in the UK and Irish markets, he said, as quoted

Karlovo municipality and Banya Golf and Spa Resort will discuss the opportunity for developing the town of Banya as a resort. The municipality council and the investor will discuss the possibility for a publicprivate partnership, Focus news agency reported. Investment will reach 60 million euro for the period of several years. The company to be created will have 34 per cent municipality ownership

Residential property prices in Sofia have increased by 5.47 per cent in June 2007 compared to figures for May, reaching 820 euro per sq m, Foros real estate agency brokers said. This is the average price for all types of accommodation including panel apartments and new construction, investor.bg reported. The largest price hike was registered in the residential district of Dianabad, 9.29 per cent where

Tishman International has started the construction of Sofia Airport Centre. The centre is planned to be an internationalstandard working environment in a landscaped business park setting. The centre will provide about 165 000 sq m of commercial space comprised of Class A offices, prime logistics space and a high quality hotel with dining, recreational, and conference facilities.