News

As of Wednesday Bulgarian citizens will be able to buy their own estates on the Moon, Mars, Venus, Mercury and Jupiter's satellite Yo, Kostadin Stanchev, official consul of the Bulgarian Lunar Embassy announced.

After a decade of rising prices on the property market, residential prices in the Bulgarian capital continue to be lower than that in Bucharest, Bratislava or Prague, shows data, as cited by the International Herald Tribune.

Investment has been the incentive for most buyers in Bulgaria, with off-plan apartments forming the bulk of sales. But a new trend is emerging as a growing number of Brits encounter the charms of this diverse country and opt to move there permanently.

The overall vacancy rate for Class A and Class B offices in Sofia fell in the second half of 2005. Office premises in the Central Business District in particular registered a significant drop in vacancy levels. Mirroring the higher demand for quality office premises in H2, the overall CBD vacancy rate is down to 8%.

The Parliament approved at third and final reading Friday the second constitutional amendment.

With residential property in the UK having peaked for the foreseeable future, investors have been casting around for alternative locations with investment potential, and Bulgaria fits the bill.
Many investors have already spotted that Bulgaria offers very good value for money, with letting potential as a holiday destination.
The best investment opportunities include the ski resort of Bansko and the Black Sea resorts of Varna and Bourgas. The capital Sofia is developing rapidly as a commercial centre, signalling that capital appreciation and rental yields should be very strong in the future.

Now could be the time to buy in Bulgaria, but buyers should study all the potential risks, advises Graham Norwood

If one country typifies the explosion of interest in eastern Europe it must be Bulgaria - but is it surrounded by hype or covered in genuine opportunity? Prices are startlingly cheap, especially for new homes, even if some of the architecture is reminiscent of 1970s Britain.
A two-bedroom new house 21 kilometres from Varna on the northern Bulgarian coast of the Black Sea costs around £70,000; a three-bedroom maisonette only 300 metres from the sea in the same region is yours for £95,000. Even cheaper properties can be found in high-density resorts being built close to the coast.

Bulgarian ski pearl Pamporovo, one of growing attractions in Europe, appears to be also the most coveted ski resort for Turkish ski fans, according to Sabah daily.

Europeans looking to invest their money are turning to the East, writes Caroline O’Doherty.YOU are in a valley between two beautiful mountains,” Mihail enthuses reassuringly although the thick wall of cloud and fog obscures the view to the end of the street, never mind the alleged 2,500 feet of ski slopes beyond. “Trust me.”

RECENT estimates show that real estate prices in Bulgaria are continuing to grow, having increased by 24.8 per cent in the period January 2004 to January 2005.
This can be seen in the most recent value of the real estate price index REMI. The index stood at 152.8 points in January 2005, or by 9.4 points higher than in October 2004. This corresponds to a 6.6 per cent price increase for that period.
The index is formed by the prices of residential property, commercial property and land. Residential real estate deals totalled about 66 per cent of all property deals in Bulgaria for November 2004 – January 2005.