Named the world’s strongest price riser in 2007, Bulgaria’s
property market is expected to keep up its momentum over the next two years,
experts said. Amidst a global cooling of the property market,
residential prices are forecast to grow by up to 20% in 2008 and 2009, down by…
The Head of the Bulgaria’s State Agency for Tourism
Aneliya Krushkova stated at a press conference Thursday the Bulgarian tourism
companies needed to start offering more cultural tours, the Bulgarian National
Radio reported.In her words, the demand among the European tour…
Middle-aged Bulgarians have embraced…
BusinessBulgaria has been ranked ninth among Germany’s most popular tourist destinations by the GIATA-Ranking Agency, the Bulgarian Union of Tourism Investors announced. Bulgaria has improved its ranking index from 1.7 in March, 2007, to 2.2 in March, 2008. Spain ranks first as a…
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The income average per person in a Bulgarian household over the period 1999-2007 climbed roughly twofold from EUR 750 to EUR 1550, data of the National Statistical Institute show.Salary incomes have also increased two times at their face value, which shows changes in the labour market…
Bulgaria’s National Statistics Institute (NSI) said that real estate
prices in Bulgaria had, on average, risen by 28.9 per cent in 2007,
compared to the year before.
Price increases in 2007 ranged between 44.3 per cent in Turgovishte to 15.6 per cent in Yambol, the NSI said….
Sparkassen Immobilien, the real estate arm of Austrias Erste Bank, plans to invest up to 300 million euro in Bulgaria over the next two to three years, Friedrich Wahernig, member of Sparkassen Immobilien board of directors said on June 11. Its focus in the mediumterm would be office and retail space.Additionally, Sparkassen Immobilien has remained keen on financing real estate projects in the region, Wahernig said. The company plans to divest of real estate investments in Western Europe and invest in Eastern Europe, Bulgaria included.
Dutchregistered Redstone Holdings, a real estate manager and developer with properties in Bulgaria, Russia and Ukraine, announced plans to build a new shopping centre in Blagoevgrad, southwest Bulgaria, the company said.The 36 million euro investment will have a total built area of 48 000 sq m and 20 000 sq m of commercial and retail space, the company said in a statement. The centre is scheduled to open in 2011, and it will house leading international and local brands.
Electra Bulgaria, the Bulgarian arm of Israeli investment company Electra Group, will invest 300 million euro in a residential project near the Black Sea city of Varna, weekly Stroitelstvo Gradut said. The company confirmed that it plans to build the biggest yet gated residential community in Bulgaria, called Electra Hills. The land plot it has selected for the purpose is near the Kalimantsi village, 15km northwest of Varna. The company has completed similar projects in Israel and Ukraine.