Bulgaria Cheap Properties

Italian company CoVer Industrial won the tender for the construction of a business centre near Sofia Airport, Italian news agency Ansa said as quoted by Dnenvik daily. Investors in the development, Sofia Airport Centre, were Tishman and General Electric Real Estates. The investment was estimated at 250 million Euro. Tishman launched the construction of the first building of the business centre, Marketing Suit,

The Bulgarian central bank reported on July 28 that the APR on new housing loans stood at 9.72 per cent at the end of June, up from 9 per cent in February. The average APR on consumer loans has added 1.21 per cent yearonyear to 11.96 per cent. In June, the rates on new consumer loans ticked up 1.38 percentage points to an average of 10.80 per cent while the rates on outstanding loans fell 0.11

A new holiday resort Kostina will be built in the mountain village of Ribaritsa, located near Teteven city, Stroitelstvo gradut weekly reported. The resort will be situated on a land plot of 5000 sq m, and will feature 13 units of three different sizes for the total investment of 1.5 million euro. Investor and developer of the project is Tenbul Ltd, whose owner Ivan Marinov has lived and worked in Spain for the past

Engel East Europe N.V., one of the leading developers of residential and mixedused properties in Central and Eastern Europe, announced plans to withdraw from a project in the Sofia borough Gorna Banya, website investor.bg reported.The project envisioned a residential complex consisting of 430 flats, in which Engel held a 40 per cent share in a joint venture with Heitman Group, which held 60 per cent

Bourgas city hall has called a public procurement tender for the construction of a modern hospital in the Meden Rudnik borough, Stroitelstvo Gradut weekly reported. This is the mostpopulated borough of the city with close to 80 000 residents, and, according to the weekly, there is only one clinic, which currently occupies a flat in a communal block, to service their healthcare needs.

Turkish businessman Fuat Guven will be the new owner of Business Centre 1 in Haskovo, Bulgarian news agency BTA said.Guven was said to pay more than 11 million leva without VAT for the business centre.

Representatives of Sofias Sredets district and the Bulgarian Academy of Sciences National Archaeological Institute have declared their disapproval of the possible construction of an 80m high building on the site of the existing Hotel Rila.Investor.bg quoted Sredets district mayor Margarita Gouteva as saying such for her contingent at a public discussion on plans to construct a new building at the location.

Three out of Europes top five markets with the best location for industrial or logistics facilities were in Central and Eastern Europe, according to the European Distribution Report 2008 published by real estate consultant Cushman amp;Wakefield C amp;W.Belgium retained the top spot in the rankings, published by C amp;W every two years, and is followed by the Netherlands, Hungary, the Czech Republic and Poland.

The rise of the Bulgarian property market has been one of the most remarkable real estate phenomena ofthepastfewyears.lt has come about for two reasons – the collapse of Communist regimes in Eastern Europe, and the massive growth in the overseas property market. The former has opened up a hitherto unknown country to reveal one of [...]

UniCredit plans to set up a real estate fund, following the example of other major European banking groups, which would use parts of buildings that house the banks branches and other properties, Reuters news agency reported on July 20.The fund would be worth around two billion euro, Reuters said, quoting a report in Italian newspaper Il Sole 24 Ore. Contacted by Reuters, the group declined to comment.