News

The price of real estates in Vidin, alongside the Danube River, has soared three-fold on the background of progressing negotiations for the construction of Danube Bridge-II, according to local realtors.

British landed proprietors are exploring the investment opportunities in Bulgaria.

The proprietors are willing to invest in hunt tourism, horse breeding and the construction of dog farms, specialized in foxhunt, Bulgaria's Agriculture Ministry announced. The news was broken by Deputy Agriculture Minister Stefan Yurukov following his meeting with a four-member delegation of the UK.

The delegation is on a visit to Bulgaria to see the country's traditions in rural economy and hunting.

Bulgaria's Agriculture Ministry has to prepare a draft with reforms for the Hunt Law that would attract more foreign capitals in that sector of the Bulgarian economy.

THE real estate market in Bulgaria reached incredible heights in 2004, boosted by interest among foreigners in buying property in this country, and by increased purchasing power of Bulgarians due to the increased availability of mortgage loans.

Bulgaria has become a favoured destination for international holiday home investors, the Financial Times wrote in a report on Bulgaria in November. Although coming with a bit of delay, this recognition was a sign of the attractiveness of Bulgarian real estate opportunities.

The increase in residential real estate prices in the recent months has brought unprecedented media coverage of the real estate market.One can read articles about real estate in almost all daily and weekly newspapers and magazines.Real estate has become an attractive topic even to government officials, whose public statements have even further increased the hustle around residential real estate prices.

Real estate deals reached a record high in 2004, according to real estate agents. Most of the buyers are from the UK. According to the BBC, some of the UK-based banks even lent loans for acquiring immovables in Bulgaria.

A cultural treasure trove stuffed to bursting with the ancient monasteries, churches, mosques and Roman and Byzantine ruins, and located in the very heart of the Balkan Peninsula is Bulgaria. Investors Provident have recently launched their investment section on Bulgaria and offers its clients some very diverse and high capital growth investment opportunities.

Representatives of large French companies are coming to Bulgaria from the 6th to the 10th of December to have a close look at the projects for development of the winter resorts Borovets and Vitosha. This was announced by the executive director of “Balkantourist” Ms. Nedjalka Sandalska, who is also a tourist manager in “MG Corporation” (owner of hotel “Rila” and “Borosport” joint-stock company, which is managing the pistes and ski equipment in Borovets). The delegation is coming with the cooperation of Balkantourist. It is led by the director of the association France Neige International Gerard Bowie.

UK newsletter Property Secrets has published an article on the Bulgarian property market, saying that the country was a prime place for investors to buy real estates.

"Bulgaria currently offers investors the opportunity to buy properties at some of the lowest prices in Europe, close to beautiful beaches or ski resorts, and benefits from the dual attractions of marvellous weather and a very low cost of living," the article says.

REPORTEDLY, the special parliamentary committee dealing with constitutional issues is split on the approach it wants to take with regard to allowing foreigners to buy land in Bulgaria.

A RELIABLE formula for buyers of overseas property used to be something along the lines of: cheap property + sun + sea = happiness. Now there is a new breed of buyer subscribing to a different formula: cheap property + growing economy = tempting investment returns.
Eastern Europe is currently the focus of these investment-driven buyers with its spread of markets from the Baltic to the Black Sea.
The fast-growing economies of Estonia, Latvia and Lithuania arrived on property buyers’ radar when they joined the European Union in May, and Bulgaria hopes to follow suit by 2007.