Prices for Bulgarian properties rose 10-15% in January and February 2007, a growth rate previously expected to be achieved over the full-year period, said local real estate agents.The Bulgarian properties market seems to have skipped the traditional January lull and business is as dynamic as December, said Tihomir Tsakov, the owner of the Aristo real estate agency which operates exclusively in Sofia. The momentum from the back-end of 2006 has carried over into the first months of 2007, said Valentin Gradev from the Varna-based Gradev Bulgarian real estate agency. The Bulgarian real estate agent said the buyers were still keen to take advantage of Bulgarian properties prices which continue to lag EU levels. The same argument is used by sellers to jack up their price offers. Read more…
Bulgarian Property & Real Estate News
Equest takes investment in Super Borovets project
Investment fund Equest Balkan will acquire a stake on the development company behind expanding Borovets ski resort. The starting investment with be around 15 million euros and will result in the 51% shareholding. The company is acquiring the stake from Bulgarian construction company Glavbolgarstroi who just last year purchased the holding from the estate of the former banker Emil Kulev Read more…
Bulgarian Real Estate Investment fund Equest considering majority stake in Borovets project
Bulgarian real estate investment fund Equest Balkan is in talks with construction company Glavbolgarstroi to take a take in the company setup to expand and develop Borovets ski resort. Equest is currently debating at board level how to proceed and it is expect to sign a contract with Glavbolgarstroi which will confirm Equest as the majority shareholder in the Super Borovets project Georgi Krumov the director of Equest stated that they required a majority shareholding in order to be able raise the necessary financing for the Bulgarian real estate project. The result depends on a decision from Samokov municipality to confirm the transfer of Emil Kulevs land into the Rila-Samokov 2004 holding company. Read more…
Bulgaria property attracting new investors on the back of good returns
The latest real estate news after Bulgaria’s first month as part of the EU is that typically conservative investors like pension and insurance companies are starting to take interest in the Bulgarian property market. This new type of investor is interested Bulgaria real estate investments because the political and economic profile for the coutry has improve. There is less perceived risk now that Bulgaria is in the EU and also there is a plentiful supply of cheap credit.
During 2006 we saw several large scale Bulgarian real estate takeovers most notably the purchases of the Mall of Sofia and Business Park Sofia. According to Forton real estate brokers, the main interest for these investors will be prime commercial real estate and office developments in the major cities. Read more…
Investing in Property in Bulgaria brings strong returns
Bulgaria enjoys an attractive location situated between Europe and Asia. This makes property in Bulgaria is increasingly interesting for investors and tourists alike. Bulgaria has borders with the Black Sea to the east, Romania to the north, Greece and Turket to the south and along its west border is Serbia, Montenegro and Macedonia. The property investment options in Bulgaria range from ski resorts like Bansko and Borovets to the many beach resort dotted along the Black Sea coast. The climate and growing ecomony make property in Bulgaria a very lucrative investment, especially as Bulgaria has not yet joined the EU. This is expected in 2007 and may very well drive up the price of Bulgarian properties even further.
Bulgaria as a country offer some amazing natural sights. From the coastal regions to the mountain the nature and fauna are beautiful and untouched. The government is wise to the fact that nature tourism is a growing business and as a results aims to protect the beauty of Bulgaria.
Bulgaria property investment offers both financial and personal rewards. Whether you plan to ise your property in Bulgaria as a holiday home or as a rental investment, now is the time to buy property in Bulgaria.