Pomorie municipality plans to carry out a number of eco projects aimed at transforming it into one of the first Bulgarian green regions. The projects will increase the municipalitys energy efficiency and improve the road and electricity distribution infrastructure in the region, Pomorie mayor Petar Zlatanov said as quoted by investor.bg. One of the major projects envisions the construction of a golf course
Bulgaria ranks second in Europe on the returns rate of property investment over the past 12 months, research of British consultancy company Assetz shows. According to the companys index, drafted each annual quarter, Bulgarias property investment returns reached 71 per cent over the past 12 months. Poland ranked first with 100 per cent returns, investor.bg reported. Assetz warned potential investors that
Investment fund Orchid Development Group will invest nearly 200 million euro in three projects in Varna by the end of 2007. The fund received a first class investment certificate for its Grand Mall project in Varna, investor.bg reported. The other two projects focus on the construction of an office building with a total area of 25 000 sq m and a complex of mixed type having residential part, offices and trade centre. Its gross
Residential property prices in Bulgarias large cities are expected to increase 10 per cent by the end of 2007, predictions of real estate agency ERA Bulgaria show. Residential property prices in Sofia went up 16 per cent in the first quarter of 2007 and those in Varna 18 per cent as compared to figures for the last quarter of 2006, ERA managing director Teodora Dimitrova said as quoted by investor.bg.
The coastal resort of Sunny Beach offers the most expensive shops among Bulgarian Black Sea resorts. Property buyers willing to invest in shops at Black Sea resorts should consider that this could be a good but also very risky investment, investor.bg reported. Those looking for yearround turnover invest in property in Bourgas and Varna. Investors looking for seasonal sales prefer newly developed hotel complexes in
One of the most often seen vehicles in Bulgarias Bansko winter resort is a heavyloaded truck, Capital weekly reported. Bansko mayor Alexander Kravarov told Capital several months ago that none of the constructions were illegal. Soon after, the Supreme Administrative Prosecution ordered inspection of all projects. Results presented three months later revealed that inspectors found irregularities in nearly half
Profitability of real estate deals in Bulgaria decreased nearly twice since 2002, research of Creditex showed. Creditex representative Krasimir Goumnishki said that a 100 sq m apartment in Sofias residential district of Mladost brought nine per cent profitability in 2002, which had now fallen to 4.11 per cent. The same tendency was valid for all of Sofias residential districts, Goumnishki said. According to the research, the
Residential property prices in Bulgarias coastal town of Varna increased between 15 and 20 per cent since the beginning of 2007. The increase is 10 per cent higher than agents predictions, Dnevnik daily reported.Many buyers could not find property that answered their needs in the end of 2006 and the beginning of 2007 was also strong in terms of sales numbers. National Statistical Institute NSI data showed that
Polish company Globe Trade Centre GTC will provide funding for nearly 95 per cent of the construction of Gallery Varna mall. Investment will total 89 million leva, investor.bg reported. This is the fourth mall project to be launched in the coastal city of Varna since the beginning of 2007. The project is still awaiting construction permit. Construction works will be finalised by the end of 2009. Annual rental income is
Business park developments in Bulgaria are three to seven years behind Central European levels, Industry Watch reported. Fast economic growth, EU accession and increase in foreign investment feature among the main factors influencing business park development in Central and Eastern Europe, investor.bg reported. Investor interest in Bulgaria changed its direction from Sofia to other economically developed cities