Bulgaria Cheap Properties

The office rents in Sofia rank as the 49th highest worldwide, research of consultancy company CB Richard Ellis CBRE shows. Annual office rent expenditure in Sofia reached 517.3 per sq m, or 43.1 per sq m per month. London keeps its first place in the chart. Office rents in some of its most expensive parts reach 2596.5 on annual basis. Tokyo takes the next positions in the chart. The charts top 10 remain almost

Villa complex Rila View, to be constructed near the town of Razlog, is a development that will see investment of nearly 100 million euro. This is one of the largest projects to be carried out in the region, Razlog municipality said. Rila View Village Ltd will execute the project. The company has signed an agreement with Razlog municipality on October 31 2006 and is expected to finish work in five years, investor.bg

The Directorate for National Construction Control DNCC issued 18 orders for the removal of illegal constructions in the Iskur Dam region.Once these orders are enforced, owners will be asked to tear down the building voluntarily, DNCC representative Krasimir Petkov said. In March DNCC issued nine orders and nine more were issued in May, so that their total number reached 18. Five of the buildings are grouped

Land owners in Sofia and Bucharest speculate with land prices, agents said. Most land owners fail to understand how land prices are formed and offer high prices because of the high demand, investor.bg reported. The land price should add up to no more than 20 per cent of the total value of a residential project, US investment fund Heitman said during a discussion on residential property market in Bulgaria, Romania

Over the past few years, property supply has exceeded demand in Bulgarias leading resorts. The vacation property market is reaching its saturation point and a number of resorts already suffer from overconstruction and the lack of proper infrastructure, participants in the first Balkan real estate conference BalRec said. In order to attract new clients, resorts should start offering unique projects and better

The construction permit taxes in Bulgarias capital will increase gradually, Sofias chief architect Petar Dikov said. The process will probably start in the coming year, Dikov said during the first Balkan real estate conference BalRec. Sofia can accumulate the funds needed for infrastructure development only through tax increase, Dikov said. Taxes in Belgrade vary between 250 and 430 euro per sq m and are

UK consultancy company TRI Investments warned potential real estate investors to avoid investing in European resorts such as those in Bulgaria, France and Italy. The warning came after companies shares fell on the real estate stock exchange in Madrid, citywire.co.uk said, as quoted investor.bg. TRI Investments managing director Chris Finch said that his company was initially enthusiastic about opportunities for

Investors in Bulgarias coastal regions are failing to find buyers for their newlybuilt hotels. Nearly 30 new hotels were offered for sale over the past year, 24 Chassa daily reported. Only 250 hotels were on sale in southern coastal regions. The hotels are being sold in all stages of construction. The average price is 856 euro a sq m. Most of the hotels for sale were in the resorts of Sveti Vlas St Vlas, Slunchev Bryag

The commercial property market in Bulgaria is expected to grow by 300 per cent in the next three to five years, Colliers Bulgaria real estate agency head Atanas Garov said. Garov took part in a conference linked to the upcoming Balkan Property exhibition BalPex, investor.bg reported. All sectors of the property market had been developing dynamically and investment was expected to increase in the next

Bulgarias State Agency for Tourism says that the number of tourists visiting spa resorts will increase by 75 per cent in the next three or four years. Investors have been working on spa tourism projects for a long time, Kapital daily reported. There are spa centre and hotel construction projects in, among other places, the wellknown destinations Sandanski, Kyustendil and Apriltsi. These regions boast