News

British bargain hunters are fuelling a boom in house prices around the world. With relatively few bargains to be found here, tens of thousands are looking abroad to invest in a cheap holiday home or an idyllic spot for retirement, according to a report yesterday. Traditional European hotspots such as France and Spain are not as popular as they were in the 90s, when a continental bolthole was still something of a novelty.

Bulgarian tourism will develop at a comparatively high pace, but the country will continue to lose tourists from some of its main markets. This was written in the latest report by the independent Centre for Economic Development (CED), published on August 3.The downsizing in the number of tourists from Germany and, to some extent, from the UK that has already been registered this summer season will be preserved as a trend.

First came golf courses, now luxury holiday villas have taken leisure facilities to a tempting extreme. Graham Norwood profiles homes with spas included
Spas used to be associated with the ancient practice of bathing in hot springs and mineral waters - but now, as increasing numbers of overseas-holiday-home owners can testify, spas have a 21st century spin added to them.

While British media regularly circulate publications as to how dangerous it is to live in Bulgaria, seventy British families have chosen to settle down in the region of Gabrovo in the heart of the Balkan.
Most of them have bought real estates in the villages near the towns of Tryavna, Dryanovo and Sevlievo, officials from the Migration Department of Gabrovo Municipality said yesterday. The subjects of Her Majesty have submitted forty applications for long-term residence visas. They intend to repair the old houses and to bring here more relatives from the UK.

Foreign investors are among the biggest shareholders of Bulgaria's public companies, shows data released by the Bulgarian financial regulator. Towards the end of the first half of 2006, non-residents collectively controlled equity for 4.313 bln levs or 43.51% of the combined market capitalisation of listed corporations. Financial intermediation is also on the radar of foreign investors, attracting 648 mln levs out of total market capitalisation of 2.394 bln levs. Foreign investors also own 27.25% of chemical stocks (including pharmaceuticals) in terms of market capitalisation or 271 mln levs.

Real estate prices in Bulgaria have increased by 20% over the last year, according to London-based Night Frank Estate agents, cited by 24 Hours daily.
Bulgaria ranks second in respect of property prices growth after Latvia, enjoying a 45.3% rise for the said period, the survey showed.

Nearly 700 000 tourists are expected to visit the Balchik Palace by the end of the summer season, director of the Balchik cultural institute Toshko Giaurov said.
By the end of August the number of visitors would reach 600 000, which was the total for 2005, Bulgarian news agency BTA reported.

Bulgaria is once again becoming a paradise for Czech tourists, local media claim.
With moderate prices, quality of services offered raising by the year, and newer hotels, Bulgaria is drawing Czech tourists, who had forgotten the Black Sea, back a report by Idnes.cz says.

Travellers using the airports in Varna and Burgas, major gateways to Bulgaria's Black Sea coastline, can look forward to faster ground services as of next year. In another 2-3 years, the two airports may even have new passenger terminals at a cost of 100 mln euro, additions that will allow them to process up to 6 mln passengers annually.
These are some of the concession contract for the management of the 2 airports signed Sunday with the consortium of Germany's Fraport and local company BM Port.

Austrias EVN, unveiled plans to invest in waste recycling, gas distribution, water services and the purchase and building of power stations in Bulgaria, chair of EVN Bulgarias board, Stefan Szyszkowitz, said.
EVN is already majority owner and operator of electricity distribution companies in Plovdiv and Stara Zagora. Szyszkowitz said the company is weighing opportunities to build waste recycling plants in these two cities.