News

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.

Britons' insatiable appetite for property bargains has led more house-hunters to the picturesque Rhodope mountains in Bulgaria, which is emerging as a prime place for investors to buy real estates.

A total of 35 Britons have purchased apartments in the freshly minted Monastery 2 complex in the winter resort of Pamporovo, huddled up in the heart of the mountains, 260 km from the capital Sofia, Trud Daily reported.

The four-star ready-made apartments have been acquired prior to the official opening of the complex on Saturday.

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.

There are all needed premises in Bulgaria for the construction of a resort - nice beaches, ski tracks in the mountains, interesting cuisine and landscapes reminding of Toscana and Umbria, Russian Vedomosti newspaper reports.

Just recently another inevitable part needed for the construction of the resort joined the things mentioned above- the quickly developing real estate market, the article reads on.

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.

The price of the bricks, concrete and reinforcement will increase due to an increase in the price of the petrol and metals
If you are planning to build a house next year, you have to keep in mind the increase in the prices of the building materials including concrete, reinforcement, steel forms, pipes for the water drainage system, etc. warn the entrepreneurs. The increase is expected to become a fact at the beginning of the year and reach approx. 10-12%. The price raise of the building materials will bring to increase in the price per sq.m. and respectfully the final price of the apartments.

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.