Bulgaria Cheap Properties

A growing number of foreign investors are entering the Bulgarian property market. In addition to investors from the UK and Ireland, many Russians, Scandinavians, Austrians and Americans are also showing interest in the Bulgarian market, investor.bg reported. Market growth is expected to slow in response to increasing demand and competition in the sector over the past few years. The high annual growth rates of 20

The gross leasable area of shopping malls under construction in Bulgaria has doubled in the first half of 2007 to 201 000 square metres, real estate consultants Colliers International said on August 8. Retail is the most dynamic commercial real estate sector in Bulgaria. Six malls currently operating in Bulgaria have a gross leasable area totalling 105 500 sq m. Three of them are located in the capital of Bulgaria, Sofia.

UK investment fund Black Sea Property Fund Ltd has bought 124 decares of land in the mountain resort of Borovets worth 10.5 million euro to be invested in a mountain complex.The fund plans to build a complex to be used throughout the year. It will include a hotel, conference centre and various residential and holiday complexes, investor.bg reported.International architecture company Wimberly

The trend of the past four years of a steady increase in prices of holiday property at the Black Sea coast has started to drop off.Prices in the past three to four years initially increased by to 20 to 30 per cent and even 50 per cent in a year, but this had not been the case in 2007, investor.bg reported.The average price of bachelor flats and twobedroom summer

The market in village property, until recently driven by interest among Irish and UK investors, is gaining popularity among Bulgarians. Instead of investing their money in holiday property at the seaside or in mountain resorts, many Bulgarians prefer to buy houses in villages so that they could use them as villas at weekends, Kapital weekly reported. Others are even ready to live in a village and commute to

Sparkassen Immobilien AG and ECE Projektmanagement, investors in Serdica trade centre in Sofia, have announced that the construction of the centre has begun. Serdica centre will open in the autumn of 2009, ECE Bulgaria head Plamen Ilchev said, as quoted by investor.bg. Investment in the centre totals 180 million euro. The mall will cover 50 000 sq m. It will have nearly 200 shops and nearly 35 000 sq m

Gated residential complexes are becoming ever more popular with investors in Bulgaria. Interest in such complexes is equally high at resorts and in urban areas in southeastern Bulgaria, Pari daily reported. The complexes were popular because they were closed off and because of the quality of life that they offered, the report said. Gated holiday complexes are the most popular. Investors close off the

The amount of office space in the outlying regions of Sofia has increased by 50 per cent in 2006, compared to 2005 figures, according to research by real estate consultancy agency Colliers. Office space in the region increased from 167 000 sq m in 2005 to 251 000 sq m in 2006, investor.bg reported. In comparison, the total volume of office space in the centre of Sofia increased by 9.5 per cent. Class A offices

Israeli conglomerate Africa Israel Investments has bought land with office buildings in Bulgarias Black Sea coastal city of Varna, a company official said. For 76.5 million euro, Africa Israel bought the existing buildings and the right to construct other buildings in the future. Africa Israel Investments business development manager Akiva Azulay told SeeNews that It is a big plot and part of it is built and the other part

The Bulgarian town of Veliko Turnovo has been included in a ranking compiled by UK newspaper The Independent of the most favourable holiday property markets. Property near Veliko Turnovo can be bought for 20 000 to 100 000 pounds sterling. Unlike Bansko and Black Sea towns, Veliko Turnovo has not been hit by excessive construction, and had beautiful natural scenery and authentic villages, the newspaper