Overconstruction of coastal resorts is a fact and represents major setback to the development of Bulgarias resorts, head of the National Tourism Board Georgi Gergov said. Foreigners pay 120 euro for a weeklong vacation, Gergov said. The sum includes airport ticket, as well.Only an inexpensive offer can compensate for the overconstructed resorts and the poor conditions there, Gergov said.
Real estate fund Bouwfonds Property Development BPD, part of Dutch financial group Rabobank is investigating the execution of a project in Bulgaria. The fund is also interested in investment projects in Romania and other countries in the region, investor.bg reported. BPD representatives said that it was early to make specific plans but a decision is to be taken within six months. The company will focus on
A project similar to Super Borovets will be the second major development in the region of Borovets mountain resort. The tourism complex will be set up close to Maliovitsa, 24 Chassa daily reported. The zoning plan is currently drafted and will be finalised by May. According to plans, the project will feature five tourism zones that will accommodate between 8000 and 10 000 tourists. The complex will have
Bulgarian government will impose a construction ban in all Black Sea coastal resorts during the summer season. The draft law for Bulgarian Black Sea coastal development was approved on second reading on April 19. The ban will include all resorts and vacation villages and will be valid in the period from May 15 to October 1. Urgent repair works in the resorts will be the only exceptions allowed.
Spanish company Ferry Group will invest nearly one billion euro in one real estate and one energy project. The company focused its investment plans on tourism, real estate and agriculture as the key economy sectors in Bulgaria, head of Ferry Group Manuel Ferry Sanchez said. The value of each project can reach up to 500 million euro, investor.bg reported. The real estate project initially included the
A construction ban will be imposed in the coastal town of Sozopol and will be valid from May 15 to September 30. The ban was enforced in connection to summer season 2007 and tourist visits to the coastal area. Investors have to stop work on all projects in Sozopol and the nearby resorts. Construction companies also have to clean the sidewalks and the surrounding areas from building materials and renew
Bulgarias capital experienced a real boom in the sphere of commercial complex construction in 2006, Italian financial daily Il Sole 24 Ore reported. The newspaper said that four new retail centres opened doors in 2006 and 11 malls are still under construction. The report also mentions Sofias problems with the lack of proper infrastructure, public transport and refuse collection systems.
Apartment prices in Bulgarias capital continued climbing in the first months of 2007. Rent prices, however, experienced different trends.In bigger cities, rent prices increased gradually, 24 Chassa newspaper reported. In Sofia, some rent prices decreased, mostly for smaller apartments. Price decreases vary from eight to 20 per cent. Similar percentage increase is registered concerning other types of
The coastal city of Bourgas will refrain from issuing construction permits until the end of summer season 2007. Bourgas mayor Yoan Kostadinov already issued an order that will be effective from June 4 to September 10. The ban will affect the beach area and the central parts of Bourgas, investor.bg reported. Emergency construction works and underground infrastructure projects will be carried out. Projects that
The market of mortgaged residential and commercial property in 2007 experienced a slight decrease as compared to sales figures for 2006.The most frequent reason for the sale of mortgaged properties is the inability of owners to pay their monthly installments, investor.bg reported.Only 30 mortgaged properties are currently offered on the market in Sofia and their number in the past six months remains