Bulgaria plans to keep the Domestic Diplomatic Properties Agency ADIS in state ownership.
The government decided at its weekly meeting on Wednesday to ask Parliament to adopt legislative changes that will put ADIS on the list of companies that must remain state-owned.
ADIS is a full service real estate company, managing its own property portfolio of more than 100,000 square meters.
The proposed changes to the Privatisation Law will ensure Bulgaria’s continued capability to meet its...
This four-bedroom contemporary-style villa on the Black Sea in Bulgaria has views up and down the coastline for miles. Built in 2006 of brick and cement, the 4,500-square-foot house has a 13-by-26-foot swimming pool and sits on a half-acre lot terraced and landscaped with cypress trees, shrubs and rosebushes.
Continue reading the main story
RELATED COVERAGE
Times Topic: International Buying Guides
The front door of the three-story villa opens to a foyer that leads to the open-plan...
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...
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...
Several years will be needed for the new office space in the Bulgarian capital Sofia to be absorbed by the market, according to a report of Colliers International.
The total area of "modern office space" in Sofia has reached 1.378 million square meters in the first half of 2011, a growth of 5% year-on-year, with many new buildings completed in the outskirts of the city, reveals the report of Colliers International, a real estate consultancy.
About 65% (898 000 square meters) of the office...
Bulgaria's anti-monopoly body has given the green light to the acquisition of a shopping mall in the capital Sofia by London-based property fund manager Europa Capital, part of US real estate investor Rockefeller Group International.
The Commission for Protection of Competition (CPC) approved on Friday the deal for the sale of Mall of Sofia to Dorado 1, which is controlled by Europa Capital, the regulatory body announced.
The deal was financed by Hungary's OTP and its Bulgarian unit...
Bulgaria's dwelling prices have decreased by 6.4% year on year during the second quarter of 2011, according to the country's National Statistical Institute.
The dwelling prices have dropped with 1.6% in comparison with the year's first quarter. According to the statistical institute, the average price for a dwelling has been BGN 908.98 per square meter.
Dwellings have been most expensive in the Black Sea capital Varna, with an average of BGN 1 508.67 per square meter, followed by Sofia...
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...
Compared to 2010, which was characterized with a record supply of new shopping centers, no significant retail schemes have been completed since the beginning of 2011, according to the Q2 report of Forton International.
The current shopping center stock stands at almost 560 000 sqm GLA.
Pipeline supply remains challenging with over 237 000 sqm of retail space under construction.
If all of the projects are completed successfully,the total shopping center stock in the country will...
Data shows Bulgaria's real estate sector is experiencing a limited recovery, according to the "Bulgaria Real Estate Report Q3 2011" of Business Monitor International (BMI).
"Bulgaria's real estate sector has experienced a startling downward trend in recent years as the value of property has plummeted led by a dearth of demand. Early data from the first two months of 2011, however, suggest that a limited return is on the way," the report says.
It cites data that an average of 1 550...
Bulgarian capital Sofia's real estate market seems to have recovered from the crisis, as it has grown four times more active than in its worst period, according to an analysis prepared by the Bulgarian Address Real Estate company.
Prices are stable in Sofia, according to the company, with properties valued under EUR 50 000 the most sought after among buyers. But even though 45% of all buyers are looking for properties below EUR 50 000, deals worth more than EUR 100 000 are not so rare as...
The current driver for real estate values in Bulgaria, the income levels and domestic demand of the population, are set to result in a stable annual growth rate of 5-6% of real estate prices, Curtis M. Coward, CEO of the Arceland asset management fund told Novinite.com (Sofia News Agency) in an interview.
According to Coward, who is also a member of he Bulgarian Land and Property Owners Association (BULLPOA), that is a reliable, understandable, and credible number for a decade, as opposed to...
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%...
London private equity fund manager Europa Capital has bought the Bulgarian capital's Mall of Sofia or more than EUR 100 M.
The sale generates a gain of more than EUR 20 M to be shared equally by Avestus Capital Partners and Irish GE Real Estate, according to a source close to the Irish property company, cited by the Irish Times
Mall of Sofia is a 23,600 sqm (254,000 sq ft) shopping center with 10,400 sqm (112,000 sq ft) of offices above, located in downtown Sofia. The property was...
Any privatization of Bulgaria's National Palace of Culture (NDK), a giant cultural and congress center in downtown Sofia, will be abolished, the country's Finance Minister, Simeon Djankov said Friday.
Djankov told the Bulgarian Parliament Friday that he has come up with a proposal on banning NDK's potential privatization, which is included in the new amendments to the country's privatization law.
The center's functions will not be changed, he added. Instead, it will be modernized and made...
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'...
In the first quarter of 2011, the newly built residential buildings in Bulgaria were 601, according to the preliminary data of the National Statistical Institute, NSI, released Tuesday.
Compared to the same quarter of 2010, the number of these buildings increased by 16.7%, but the number newly built units in them fell by 5.3% to 3 109.
The largest number of residential buildings and dwellings has been built in Varna - 103 buildings with 564 units in them. Burgas is second with 94...
Bulgaria Translation