News

The average price of residential Real estate in Bulgaria's capital by December 2003 stood at EUR 400 per sq.m., according to the latest data from ADIS Real Estate.

The figures reflect a surge in demand on the Bulgarian property market, which is seen in all categories of residential areas. Demand is concentrated primary in the big urban centres and the Black Sea coastline, where it exceeds the supply.

Bulgaria is among the seven most favourite skiing destinations visited every year by British tourists, a research by SkiClub of Great Britain reveals.

About one million British go overseas to ski every year, mainly in the French Alpes, where a third of all British ski-fans spend their winter holidays, the data show up.

The average 2003 increase of Bulgarian real estate prices is between 24 % and 28 %, the Real Estates National Association Chairman Orlin Vladikov announced on Saturday.

The boosted bank crediting at lower interest rates and the straight-forwarded state foreign policy are considered among the main reasons thereof.

Most aspired are small-sized panel apartments, between 60 and 80 sq.m., which have seen a 100 % increase in some suburbs of capital Sofia in 2003.

Orlin Vladikov predicted that the price increase at residential buildings would keep a steady pace in 2004, but with milder leaps. Real estate experts see a possible rise of up to 10 %.

Bulgaria has attracted 21.96 % more tourists in January 2004 compared to the same period last year, Economy Ministry released on Friday. A total of 195,544 tourists have chosen Bulgaria as their January-holiday destination.

Bulgaria received the best financial framework in comparison with the other EU aspirants, which obliges us to act with due responsibility in spending the funds, Bulgaria's Prime Minister Simeon Saxe-Coburg underlined in a special speech in Parliament dedicated to the financial framework for Bulgaria over 2007-2009 suggested by the European Commission.

Spain's tourism industry is already suffering because of competition from Bulgaria, The Times wrote on Saturday, citing Rachel O'Reilly, spokeswoman for Thomson Holidays, Britain's largest tour operator.

She singles out Turkey,Croatia, Egypt, the US and the Caribbean as the other rivals of Spain.

Tour operators and travel agents in Spain have reacted violently against the suggestion of a tourist tax, which would affect about 1.3 million tourists visiting resorts such as Lloret de Mar, Sitges and Salou.

Tourism to Spain was on a high last year, with 12.5 million visitors from Britain compared with 12.1 million from France, but O'Reilly said that there were fears in all euro countries that the pound's weakness against the euro could mean a sales dip this summer.

New 80 km of ski tracks will gird on Bulgaria's highest Rila Mountain. The project provides for building a whole tourism complex Samokov-Borovetz-Beli Iskar expanding to the northern mountain slopes covered with new ski-track facilities.

A unique for Europe 25-km-long ski track is going to connect the town of Samokov, in the outskirts of the Borovetz resort, to the Ice Lake, claiming to become its business card to the world.

Bulgaria's Prime Minister Simeon Saxe-Coburg visited Borovetz on Sunday to discuss with local authorities the implementation of the project, estimated roughly at EUR 100-150 M.

Bulgaria is one of Europe's fastest developing destinations, a report of the tourism commission with the European Union shows.

Bulgaria's Economy Ministry reported that a total of 4, 047, 863 foreigners visited the country in 2003 in that way marking a rise of 18% year on year. Bulgaria's fast developing speed puts it ahead of Italy, according to the data.

It was once the epitome of grim Communist uniformity, but Bulgaria is emerging as this year's hot destination for British tourists.

Sales figures indicate that up to 200,000 Britons will travel to the Balkan nation's Black Sea resorts this summer, where the attractions include cheap drink, large sandy beaches and temperatures in the 80s.

Rosemary Niblock, a secondary school teacher, worries about her children's financial security, like most mothers.

But she is the first to acknowledge that some of her fears are unfounded. Both children, Matthew, 29, and Sally, 30, think about pensions and their financial security even if some of their savings plans are unconventional.