Demand for property along the
Black Sea Coast with its two airports of Varna and Bourgas, is rapidly
increasing as is its popularity as a holiday destination for western Europeans
and an ideal location for property investment. The improved economic conditions,
political and social stability in Bulgaria over the past few years continue to
push property prices upward. Other important factors for the rising property
market and a profitable investment is the huge tourism potential still untapped.
Many areas of the coastal regions are already being developed and as a
consequence you will expect to pay higher prices closer to the Black Sea.
Average land prices have increased in the past few years by more than 50 % with
the peak prices near the popular beach resorts. Bulgaria hopes to join the EU no
later than 2007 and as extensive legislative efforts are under way to harmonise
Bulgarian legislation with EU legislation, the investment property potential
becomes more attractive for foreign investors.
Low unemployment and
expanded mortgage market are also characteristic for the Black Sea towns of
Varna and Bourgas, where the steady economic development and increasing
investments in the tourism industry attract more people from inland Bulgaria.
Data shows the increase in real estate property prices in Bourgas and Varna to
be by some 17% higher than the average for the country.
Bulgaria Stock Exchange Continues to Sink; BG40 Falls Below 100 Points
The indexes on the Bulgarian Stock Exchange continued to tumble down on Tuesday and lost their 2-digit values with BG40 and SOFIX falling by 10%, BGTR30 by 9,24% and BGREIT by 7,80% just before closing. Some of the biggest losers of the day are Industrial Holding Bulgaria with a 26% decrease down t... | Talks Start with Smart Group over Kremikovtzi
The management of Bulgaria's troubled steel mill Kremikovtzi have started Tuesday talks with the Ukrainian Smart Group company over the eventual acquisition of the insolvent plant, trade union officials said. The leader of the KNSB trade union organization in the plant, Vasil Yanachkov, also said t... | Bulgaria Guarantees Bank Deposits up to BGN 100,000
Law amendments reading that the Bulgarian state guarantees bank deposits of up to BGN 100,000 (51,000 EUR) go into effect Monday. In addition to personal deposits, now the deposits of pension funds in Bulgaria are also guaranteed. European finance ministers agreed early October to raise the minimu... | Financial Crisis to Shift Austrian Investments in Bulgaria to Manufacturing
The global financial crisis is likely to cause Austrian investors in Bulgaria to withdraw from the real estate sector, and to shift their focus to investments in production facilities and logistics. This prognosis was made by Dr. Michael Angerer, the Commercial Counselor at Austria's Embassy in Bu... | Financial Crisis Cancels Christmas Celebrations in Croatia
The Government of Croatia has banned Christmas and New Year parties in the public sector because of the global financial crisis, BBC reported. State-run firms and organisations have also been told that they won't be allowed to dip into their funds to buy Christmas presents. The ban follows a pro... | Bulgaria Second Largest Steel Maker Takes Forced Vacation Due to Global Crisis
Beginning December 1, Bulgaria's second largest steel mill of the company "Stomana Industry" in the town of Pernik is temporarily discontinuing its production, the company's Executive Director Emil Zhivkov reported on Monday. The forced vacation comes as a result of the global financial crisis in t... | Financial Crisis Hampers Sale of Bulgaria Defense Ministry Real Estate Property
About half of all military real estate property tenders have failed due to lack of investors' interest, the Bulgarian Defense Minister Nikolay Tsonev announced on Monday during a discussion about the 2009 State budget. Tsonev was, however, firm that the practice of exchanging military real estate p... | Bulgaria, Italy Port Officials Meet to Reactivate Transport Corridor No.8
Bulgarian and Italian transport officials met Monday in the Italian port of Brindisi in order to reactivate the project for the Pan-European Transport Corridor No. 8. The Bulgarian delegation included the Deputy Transport Minister Daniela Nikiforova, the CEO of the Port of Varna Danail Papazov, th... | Workers of Bulgaria's Military Factory VMZ Sopot Stage Warning Strike
About 800 workers from one of Bulgaria's largest military factories, VMZ, which is located in the central Bulgarain town of Sopot, held Monday morning a warning strike. The effective strike started at 8 a.m. and lasted for about half an hour. It is set to continue with an on-site strike between 11... | Bulgaria's Auto Carriers Put off Planned Protests over Diesel Prices
The Association of the Auto Transport Organizations is putting off the protests that it had planned for Monday, November 17, because of the unfair diesel prices in Bulgaria compared to the rest of the EU. The news was announced Monday morning by the Chair of the Association Krasimir Lalov in an in... |
|
