Israeli construction and investment company BSR Europe has reached an agreement for the purchase of close to 80 000 sq m of land in Bulgaria for 37 million euro, the company announced. BSR Europe has partnered for the deal with a European investment fund for real estate. The company refused to name the fund or the exact location of the land, saying these details would be announced separately, investor.bg
Almost 30 average Bulgarian annual salaries are needed to buy an apartment in Bulgaria.This made Bulgaria one of the most expensive countries in the European Union to buy a house, Dnevnik daily said. Denmark was the cheapest with only 5.3 average annual salaries.
Scottish company Miller Developments purchased Mall Varna for 120 million euro, consultancy company Forton International reported.The sales negotiations lasted more than a year and involved consultants from Forton and Cushman amp;Wakefield, investor.bg reported.The construction of the mall itself was launched a bit earlier by the investor Interservice Uzunovi.
Gardens Group company plans to invest in a largescale project of mixed type near Sofias village of Lozen. The investment would total 400 million euro, investor. bg reported. The name of the complex would be Garden City and it would cover 600 000 sq m. The complex would include nearly 200 apartments, 240 houses, trade centres, office buildings, a sports centre, a school and a kindergarden.
Shops in malls currently under construction are being sold at 3000 euro per sq m, manager of the Bulgarian office of Estonian Arko Vara group, Rauni Tiliso said. Demand for shopping real estate in Sofia is high. Most wanted are malls and shops in main shopping streets, Za Grada quotes Dnevnik daily. Shops under construction are 50 per cent up from the end of 2006. At the moment eight to nine malls are under construction
Sofia could offer much more opportunities for investing in property than the seaside according to an expert. Those hoping to generate money from investing in Bulgaria should ignore the coast as it was less lucrative, and focus on Bulgarias capital, Simon Tweddle, chief analyst at Property Secrets said, as quoted by propertyshowrooms.com. Seaside resorts depended on seasonal factors including tourist visits
Shopping City West Ltd, a daughter company of Austrian companies Real Finanz, Real Consult and Real Finanz East, and Bulgarian Silvana Forest, will invest 250 million euro in the construction of a mall in the western part of Sofia. The complex would be called Eurogate and would receive a first class investment certificate, investor.bg reported. The project would include the construction of offices and shopping areas,
Property prices in the bigger cities in Bulgaria will rise with 10 per cent before the end of the year.This was the consensus among real estate agents in Bulgaria, actualno.com said.Property prices are going up daily and there is no reason in the near future for a dramatic decrease, said Toni Mladenova, of real estate agency Bulgaria 21.
Construction and investment company Niya Ltd announced the investment of 9.2 million euro in the reconstruction of a former bank building in the Bulgarian town of Pleven into a trade and entertainment centre. Central Mall Pleven would have a buildup area of 11 000 sq m, investor.bg reported. The fivefloor building was planned to include 40 shops. Rental prices would vary between 25 and 30 euro per sq m.
Average residential rental prices in Sofia rose by nearly four per cent between the beginning of June and the end of August 2007, according to Industry Watch IW research. Small apartments in Sofia had the highest rental price per sq m, investor.bg reported. The selling price per sq m of small apartments is higher than that of large apartments. Small apartments are preferred in both the cheap and the more