Bulgaria Cheap Properties

The building of the first skyscraper in Bulgaria will start by the end of the year. The office building will be constructed near Kempinski Hotel Zografski, 24 Chassa newspaper reported. In this way the 35floor skyscraper will appear in one of the capitals highest areas. The estimated investment needed for the execution of the project totals 45 million euro. Roumen Markov from Joint Building Investment, the

Growing interest in the construction of spa centres resulted in increased real estate prices in some popular Bulgarian spa resorts. Spa tourism remains relatively undeveloped but has considerable growth potential, 24 Chassa reported. At present the most profitable investment was buying hotel in a spa region, the newspaper said. According to imot.bg, Velingrad was the town with highest spa hotel development potential.

A new tendency can be observed on the Bulgarian property market. Increasing number of real estate seekers prefer to purchase property in the villages located close to Bulgarias capital instead of apartments in Sofia. Villages located up to 30km away from Sofia offer houses at affordable prices and attract the attention mainly of young families unwilling to risk with untraditional purchase, Darik Radio reported.

Property prices in Bulgaria were so low it was impossible to make losing investment in the countrys real estate sector, International Herald Tribune reported. At the same time property prices are constantly on the rise. In one year residential property prices went up 36.6 per cent, data of the National Statistical Institute shows. Prices are still much lower than the value of similar property in other Central and East