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Invest Bulgaria News Directory
Bulgarian Real Estate Sector News
(56 Bulgarian Real Estate Sector News Stories Found)

BULGARIA'S APARTMENT PRICES UP BY 6% IN 2010 Q3

BULGARIA'S APARTMENT PRICES UP BY 6% IN 2010 Q3

Topics: Real Estate

The average apartment price in Bulgaria declined by 6% in July-September 2010, year-on-year, according to data of the National Statistical Institute. Thus, in the second quarter of 2010, a square meter of apartment space cost BGN 959.79 on average. Compared with the second quarter of the year, the average apartment price went down by 1.2%. The highest average price per square meter is in Sofia – BGN 1592.58, Varna – BGN 1592.58, and Burgas – BGN 1164.88. The apartments in Kyustendil...


SOFIA OFFICE MARKET SEES SIGNS OF RECOVERY

SOFIA OFFICE MARKET SEES SIGNS OF RECOVERY

Topics: Real Estate

After a period of relatively low activity, the Bulgarian capital Sofia is seeing signs of recovery in the office market, according to a survey by Colliers International. The net absorption for the first half of 2010 has marked a 27% increase compared to the previous six months, the most active companies being mainly from the telecom, outsourcing and IT sectors, shows data of Colliers International. The vacancy level has reached 21% of the total stock and was higher in Class A than Class B...


NEW REAL ESTATE PRICES IN BULGARIA FACTSHEET ADDED

NEW REAL ESTATE PRICES IN BULGARIA FACTSHEET ADDED

Topics: Real Estate

The following sample of random ads is shown with the sole purpose to demonstrate price levels for certain types of properties throughout Bulgaria. These offers are dated Oct...


EASTERN EUROPE'S REAL ESTATE MARKET HEADED FOR FULL RECOVERY - COLLIERS

EASTERN EUROPE'S REAL ESTATE MARKET HEADED FOR FULL RECOVERY - COLLIERS

Topics: Real Estate

Most commercial real estate markets around the world, including Eastern Europe, have passed the bottom and are now on the rise, according to Colliers International Global Investor Sentiment Survey for the third quarter of this year. A total of 90% of the survey participants said they planned to expand their current level of real estate holdings within a year or as a minimum maintain them at current levels. The Global Property Clock equates market cycles to specific times, with 12 o'clock...


SOFIA OFFICE MARKET VACANCY RATE TO HIT 25% END-2010

SOFIA OFFICE MARKET VACANCY RATE TO HIT 25% END-2010

Topics: Real Estate

The vacancy rate of office space in Sofia is expected to rise up to 26-27% by the end of the year with the opening of new buildings, real estate consultancy Regent's Property Advisors forecasts. Adding a significant amount of new offices to the market, the vacancy rate during the first half of the year reached levels of 22% of total stock, equaling to 253,000 sqm, data of the company shows. The largest share of the empty offices still remains in the suburban areas of the city, but the...


BULGARIA'S REVENUE AGENCY TO SELL SEIZED PROPERTIES

BULGARIA'S REVENUE AGENCY TO SELL SEIZED PROPERTIES

Topics: Real Estate

The Bulgarian National Revenue Agency (NAP) has announced tenders in some cities for properties that have been seized. The NAP office in the Bulgarian Black Sea city of Burgas has announced that it is selling a sauna, gym, cafe, underground garage, three apartments and two studios, all located in the Bansko resort. The properties have been owned by a construction company from the Black Sea city of Nessebar, which has a debt of more than BGN 2 M to the National Revenue Agency (NAP). The...


CLEVES ACQUIRES MAJOR NEW LUXURY APARTMENT PROJECT IN SOFIA

CLEVES ACQUIRES MAJOR NEW LUXURY APARTMENT PROJECT IN SOFIA

Topics: Real Estate

Cleves, the luxury Sofia apartment rental company, has acquired an outstanding new building in the Iztok borough of Sofia with 34 apartments and a Class A suite of offices. The building is part of the Este Home and Spa project developed by Este Properties EOOD. The Cleves deal is valued at EUR 10 M. This is the company's fifth acquisition in Sofia. Cleves already has a Sofia rental portfolio of 57 apartments. Cleves Este – as it will be known – is at 28G Samokov Blvd, Iztok. Newly...


GREECE'S BLUEHOUSE TO INK EUR 27 M DEAL IN BULGARIA

GREECE'S BLUEHOUSE TO INK EUR 27 M DEAL IN BULGARIA

Topics: Real Estate

Greek investment fund Bluehouse Capital is to acquire four properties of Sofia-based ERG Capital 1 and ERG Capital 2 REITs in a EUR 27 M deal, according to media reports. Bluehouse Capital has already signed preliminary contracts with the two companies, majority-owned by the Bulgarian-American Enterprise Fund (BAEF), Dnevnik daily reported, citing insiders to the negotiations. The Bulgarian subsidiary of real estate consultants Colliers International has been picked as consultant on the...


BMI: RENTS IN BULGARIA TRACK SIDEWAYS

BMI: RENTS IN BULGARIA TRACK SIDEWAYS

Topics: Real Estate

Rental levels in Bulgaria have tracked sideways in mid-2010 as the impact of softness in demand had been offset by the effect of restricted new supply, according to global research outfit Business Monitor International (BMI). Surprisingly, BMI country sources expect modest rises in rents in Sofia and Varna and forecast that rental yields will continue to track sideways over the next year or so, as movements in rents are matched by changes in capital values. At the beginning of 2010 rents...


GREECE’S BLUEHOUSE SNAPS UP ERG CAPITAL PORTFOLIOS

GREECE’S BLUEHOUSE SNAPS UP ERG CAPITAL PORTFOLIOS

Topics: Real Estate

Bluehouse Capital, the Greek private equity real estate investment management firm with a focus in the property markets of South East Europe, is the investor that will pay EUR 27 million to acquire the four properties of Bulgarian real estate investment trusts (REITs) ERG Capital 1 and 2, sources close to the negotiations told Dnevnik. The Greek company has already signed preliminary accords with the REITs, owned by Bulgarian American Investment Fund (BAIF). On Wednesday, BAIF officially...


BULGARIA OFFICE PURCHASE COSTS AS MUCH AS LEASE

BULGARIA OFFICE PURCHASE COSTS AS MUCH AS LEASE

Topics: Real Estate

There is no difference in the expenses made for buying an office by a mortgage in Bulgaria and leasing it, according to non-banking financial institution Creditex, part of the Bulgarian unit of Dutch-based TBI Financial Services. The company anticipates pick-up in the Bulgarian business property market due to changes in the ratio between selling prices and rents. Around 16 percent of Creditex’ loan portfolio covers investment properties. While lease prices are lower than in 2008 and loan...


THREE BUYERS BID FOR A PLOT IN THE DOBRUDJA REGION

THREE BUYERS BID FOR A PLOT IN THE DOBRUDJA REGION

Topics: Real Estate

The demand for land in the Dobrich region considerably exceeds selling offers this summer but the reason is not only the relatively high price of wheat, the Regional Association of Real Estate Agencies (RAREA) claims, BTA (Bulgarian Telegraph Agency) reported. “At least three potential buyers bid for a land plot,” said Nelly Vassileva, manager of a real estate agency. According to her, agriculture in the region has not been affected by the economic crisis, landowners get pretty good incomes...


SOFIA EUROPE'S COSTLIEST CAPITAL FOR RESIDENTIAL PROPERTY

SOFIA EUROPE'S COSTLIEST CAPITAL FOR RESIDENTIAL PROPERTY

Topics: Real Estate

Sofia, Bucharest and Warsaw are the three most expensive capitals in Europe when measured by the ratio of how much the average resident earns versus the cost of housing, a survey shows. The average yearly salary in Poland, Romania and Bulgaria is only sufficient to buy a mere one or two square meters in the respective centers of each of the three countries’ capital cities, according to data of the Polish real estate company Home Broker. With the average yearly salary, a Bulgarian citizen...


BULGARIA WITH RECORD GROWTH OF COMMERCIAL SPACE IN 2010 Q2

BULGARIA WITH RECORD GROWTH OF COMMERCIAL SPACE IN 2010 Q2

Topics: Real Estate

A record amount of new commercial space was opened in Bulgaria in the second quarter of 2010, according to a report of Forton International, a property advisory company. A total of 163 000 square meters of new commercial space was inaugurated in April-June 2010, Forton says, currently estimating the total commercial space in the country at 485 000 square meters. The new commercial space was mostly the result of the opening of new commercial complexes and shopping malls in Sofia, Varna,...


BULGARIA RECORDS THIRD BIGGEST DROP IN COMMERCIAL RENT PRICES

BULGARIA RECORDS THIRD BIGGEST DROP IN COMMERCIAL RENT PRICES

Topics: Real Estate

Bulgaria's capital Sofia ranks third in the EU for drop of rent prices for outlets on commercial streets for the past three years, a research shows. The research by the consultant company CB Richard Ellis (CBRE) showed that in the past three years the rents in Sofia have gone down by 38,46%. In the last year the drop has increased to 27,27% with a drop of 11,11% only for the past three months. According to another consultant company, Colliers International, the opening of new shopping...


TENANTS WANTED

TENANTS WANTED

Topics: Real Estate

The Bulgarian office sector faces two major challenges at the same time - the increased supply and the decreased in the demand. Anyway for some investors there is a light in the tunnel - the weak H1 in office rents is expected to be followed by the market stabilization. According to a survey of the international consultancy Colliers International the volume of rented offices in Sofia of 40,000 sq. m in H1 was in fact 20% lower than the same period of 2008 and 30% below the levels of 2007. One...



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