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Bulgarian Property & Real Estate News

Bulgarian real estate agents to set new standards

Over the next six months, new European standards, regulating real estate agencies, are to be adopted by all Bulgarian real estate agents, according to Maya Staneva, Director of the Bulgarian Institute for Standards. Staneva spoke during a national conference-discussion covering the current issues in the Bulgarian real estate sector.

The new real estate standards have been worked on for the last three years and they are currently at the final ratification stage in all member countries of the European Union, including Bulgaria. Read more…

Focus remains on luxury Bulgarian properties

The continuing adjustment in the Bulgarian property market is started to impact all but the nest quality Bulgaria apartments, with good location, infrastructure and services a must according the Bulgarian property experts.

The demand for quality Bulgarian properties for sale still exists but cheap purpose built apartments in locations like Sunny Beach and Bansko are seeing substantial price drop due to a huge oversupply in these areas and also a lack of quality and variety. Read more…

Commercial Property in Bulgaria remains stable

New business property in Bulgaria has increased by a minimal amount in the first half of 2008. However several large scale office development are expected to enter the market over the next two years according to Raiffeisen Bulgarian Real Estate.

The market for retail and commercial Bulgarian properties remains stable and should see strong growth in the medium and the long term. It is estimated that foreign direct investments in the Bulgarian real estate market have declined by over 30% in the first six months over the year. Read more…

Construction costs of Mall Bulgaria increases

The construction cost of the Mall Bulgaria retail centre in Sofia is expected to be almost twice as much as was first planned two years ago. The cost of the commercial and retail development is estimated at close to €220 million.

The retail complex is a joint venture between Bulgarian property developer LSProperty and the international real estate group Salamanca Capital. The Mall Bulgaria is managed by Eli Egosi, who were part of the team that worked on the Mall of Sofia project. Read more…

New Bulgarian real estate development commences in Plovdiv

Israeli and Bulgarian real estate company Melina will start work next week on its €65M real estate development in Plovdiv city center. The Markovo Tepe Mall will contain a mix of retail and business properties with an area of 8500m2.

The main project contractor will be Turkish company Intertek who is well experienced in the Bulgarian real estate market. Forton International will arrange the market and rental of the complex. Read more…

If you are looking for Bulgarian real estate or off plan property in Borovets look no further than Concept Bulgaria.
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