Building construction in Bulgaria is the cheapest in Europe, according to a comparative analysis of the EC Harris company, specializing in construction consulting.
The Bulgarian Trud (Labor) daily writes Saturday, citing the analysis, that expenses for construction in Bulgaria are anywhere between 38% and 66% from those in Southeastern UK, which was used as basis.
The study takes into account the price of construction material and labor expenses. Values in Bulgaria vary since buildings...
Europa Capital LLP, a member of the Rockefeller Group, has completed the acquisition of Mall of Sofia, the first shopping mall in Bulgaria's capital, the company has announced.
"Europa Capital LLP, the fund manager of Europa Fund III and the Europa Emerging Europe Fund, is pleased to announce that it has completed the acquisition of Mall of Sofia, Sofia, Bulgaria, from GE Real Estate and Avestus Capital Partners. This is Europa's second investment in Bulgaria this year and demonstrates its...
Bulgaria has partly regained its popularity among overseas buyers, breaking back into the top ten most preferred real estate markets for Britons, according to a UK guide for residential property.
3.3% of all enquiries in July were directed at Bulgarian property, marking the country's return to the overseas property portal's top ten for the first time in three years, TheMoveChannel.com report said.
In the comparative list of overall enquiry volume for last month Bulgaria ranked seventh,...
The average market price of residential properties in Sofia is down over 10% in the second quarter of 2011, compared to the same period of last year.
The data comes from a report of Raiffeisen Real Estate which measures the dynamics of the actual sales prices of real estate in the country.
Compared to the first quarter of 2011, the average market price of residential properties in Sofia is up 3.6%
In the second largest city of Plovdiv, the average market price of residential properties...
The number of new mortgage loans has gone tangibly up in Bulgaria in the second quarter of 2011 as the real estate market and banking activity are becoming more dynamic, according to a report.
Thus, the number of mortgage loans increased by 18% in Q2 compared with Q1, Credit Center, a Sofia-based consultancy, announced Wednesday.
At the same time, the average amount of the mortgage loans increased by EUR 2 200, its estimate shows, reaching EUR 40 595 vs. EUR 38 366 for the previous month,...
The number of completed new buildings increased in the second quarter of 2011, but the number of dwellings in them decreased, according to preliminary data the National Statistical Institute (NSI).
A total of 742 new residential buildings were put into exploitation in Q2 2011, up by 13.1% from the same period in 2010.
The number of dwellings, however, decreased by 26.2% to 3 497.
The largest number of newly completed residential buildings and dwellings was registered in the Black Sea...
The Bulgarian authorities have demolished more than 15 illegal buildings in the country's largest and most popular summer resort Sunny Beach.
The buildings have been located mostly on the sand in the northern beach of the resort.
The action had begun precisely at midnight Monday into Tuesday, which was the deadline given to owners to remove the establishments on their own. Most, however, failed to undertake any move in that direction.
From a total of 45 illegal buildings on the...
The properties on sale in Bulgarian winter and ski resorts are continuing to go down, according to an analysis of Bulgarian Properties, a real estate agency.
The demand for fully furnished apartments in Bulgaria's three largest winter resorts – Bansko, Borovetz, and Pamporovo – remained low in the second quarter of 2011.
According to the agency, in Bansko, the largest Bulgarian winter resort, the average apartment sale price is EUR 27 000, with an average price of EUR 460 per square...
Bulgaria's real estate market is ranked sixth in the world by the property price drop in the first quarter of 2011, according to a study of the global property services and research company Knight Frank.
To follow the price trend in Bulgaria, Knight Frank have used data of the Bulgarian National Statistics Institute, NSI, showing that residential properties' prices went down nearly 6% in the first quarter of 2011, compared to the same period of 2010. On quarterly basis, the decrease is 2.3%...
There are only 5 500 rooms in three-, four-, and five-star hotels with more than 50 rooms in the Bulgarian capital Sofia, according to data announced by property consultants.
The data was presented in Sofia Thursday at a public discussion about the prospects of city hotels in the Bulgarian capital, organized by Forton International and their partner Cushman & Wakefield.
In comparison to Sofia, the city hotels in Romania's capital Bucharest have twice as many room to offer, the organizers'...
The Bulgarian National Palace of Culture (NDK) in downtown Sofia is to become a public company, the country's Council of Ministers decided Wednesday.
NDK will be a state company, initially within the Ministry of Finance, Finance Minister Simeon Djankov has explained. It will stay within the Ministry until a financial audit covering its last 10 years is carried out.
NDK is the largest multifunctional congress, conference, convention and exhibition center in Southeastern Europe. It was...
Vast construction projects in the Bulgarian capital Sofia, such as malls, office buildings, trade centers and residential buildings have been launched again as the financial crisis is slowly going away.
Mall Bulgaria, Paradise Center, San Stefano Plaza, the Winslow Gardens Residential Complex, the Millennium Center office building are among the ambitious projects which have started unfreezing, the Dnevnik daily reports. The first Bulgarian IKEA is expected to be opened after its construction...
TransGlobal Assets, an Oregon-based company, has contracted Bulgarian construction firm Sofstroy for complete the development of the White Lagoon Black Sea resort, a USD 400 M project.
After on Friday, the American firm announced plans to acquire a Bulgarian Black Sea resort development, it has now announced it has signed a Letter of Intent with Sofstroy Construction of Sofia, Bulgaria, to serve as General Contractor to complete the build out of the new beachfront development named the White...
Residents of Lyulin, one of the largest neighborhoods of Bulgaria's capital Sofia, gave a press-conference Monday to announce their demands for a ban on construction in their area.
Citizens, gathered in a number of organizations and initiative committees, voiced anger at what they saw as uncontrolled construction encroaching on public space in the neighborhood and additionally worsening their living conditions.
They have sent out letters to the highest state officers, including Parliament...
The market price index of Bulgaria's dwellings for the first quarter of 2011year on year was 94.4%, i.e. the average decrease of the market prices of the dwellings was 5.6%, according to the country's National Statistical Institute.
The market price index of the Bulgarian dwellings for the first quarter of 2011 compared to the fourth quarter of 2010 was 97.7%, i.e. the average decrease of the market prices of the dwellings was 2.3%.
In the first quarter of 2011 compared to the previous...
The space of offering in shopping malls in Bulgaria grew by 475% in 2010 year-on-year, according to a Cushman & Wakefield report announced by its local partner Forton International.
At the same time, the Cushman & Wakefield analysis points out that in 2010 the development of new commercial space centers in Europe saw its steepest decline since 1983.
Thus, Bulgaria is ranked in the top 5 in Europe on the amount of new commercial space in 2010 after Russia, Turkey, Poland, and Italy.
A...
A new office complex with a Hilton Garden Inn hotel will be opened in Bulgaria's capital Sofia in the third quarter of 2011, according to reports.
About EUR 40 M will be invested in the BLU Offices & Hilton Garden Inn complex, reported Bulgarian business news site investor.bg citing IHM OOD, the investor in the new development.
The new office and hotel complex will be located on the Brussels Blvd very close to the Sofia International Airport. The first Hilton Garden Inn-branded hotel in...
Bulgaria has made it to the thirteenth spot in a new ranking of property markets, which remain popular for foreign mortgages among Britons.
The Bulgarian market has attracted 1.3% of the searches for properties abroad at the site of Rightmove Overseas in January, while their number increased by 40,5% over December.
Britons continue to be attracted most by the idea of taking out a foreign mortgage for a property in Spain, the ranking shows.
Australia, New Zealand and Canada have...
Residential property prices in Bulgaria have stabilized around the level from last year, while the volume of transactions has begun to increase.
According to the Bulgarian National Radio (BNR), the market is driven by buyers who spend between EUR 45 000 and EUR 65 000 for property, real estate agents said.
Russians are the main players on the Bulgarian property market, BNR informed.
Last year, real estate prices dropped by 25-30% and these are the levels around which the market will...
Europa Capital, member of the US real estate company Rockefeller Group, announced it has entered into an agreement to acquire Retail Park Plovdiv, Plovdiv, Bulgaria, from Landmark Property Management.
This investment represents the first asset to be acquired by Europa Capital in Bulgaria. The transaction volume for the investment is EUR 20 M.
Retail Park Plovdiv is a 25,000 sq m retail warehouse park located in Plovdiv, the second largest city in Bulgaria approximately 150 km south east...
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