Bulgaria Cheap Properties

German property investment firm DEGI has postponed the purchase of Mall of Sofia, SeeNews Corporate Wire reported, quoting company information. The hazy financial environment has prompted the company to put off the deal until firstquarter 2008.The news that DEGI was preparing to acquire Sofias flagship bigbox shopping centre was broken by the antitrust commission in early October. The regulator was to have a say on the deal.

You may want to spend more time in Bulgaria, or you may have heard that prices are very low and are certain to rise nowthe country has joined the EU.The reasons for buying property in Bulgaria vary but there are two common ones: to spend time in the country, and to invest and make a […]

The number of construction permits issued by Bulgarian authorities in JulySeptember 2008 was 1.5 per cent lower compared to the previous quarter, at 4327 versus 4355, data from the National Statistical Institute data showed on November 26. Albeit small, it was the third quarter of decline over the past 12 months and the trend is expected to continue as the number of permits fluctuates seasonally with fewer applications in winter, but also because the global credit crunch has forced developers to roll back planned investments.

The blunt message to British people, and foreigners in general, when contemplating buying property in thirdworld countries, Bulgaria in particular, is watch out. Traditionally for British expats, France and Spain have been the favoured destinations for purchasing property, but lately their interested has gradually shifted towards the Balkans as new countries in the region have joined the European Union. Developers and real estate agents there have a more aggressive approach to property sales and our firm has dealt with hundreds of people who have encountered problems when buying property abroad, David ODonnell, who works for Irishbased legal firm Tom McGrath amp; Associates, said.

The famed friendliness of the Bulgarians can be tested in the resort areas where there are a few loud, drunk foreign visitors but, similarly, do not judge Bulgarians or Bulgaria by the hurried waiters and money-making resorts of Sunny Beach or Bansko. Take time out to travel inland and explore the beautiful interior and smaller […]

Scottish property group Miller Developments is the new owner of Mall Varna, foreign media reported on November 16 2006.The deal was sealed for 120 million euro, and according to the Sunday Herald, this is the groups biggest property transaction in continental Europe. Keith Miller, chief executive of the Miller Group has been quoted as saying that with this acquisition, Bulgaria becomes one of the eight countries in which the company is operating outside the UK.

House prices in Bulgarias Danubian city of Rousse have fallen by 10 per cent, and will continue to fall, Bulgarian National Television BNT quoted the head of the citys construction chamber, Georgi Stoev, as saying on November 16 2008.

Developer ZBS plans to begin construction on the first openair mall in Bulgaria in March 2009, website investor.bg reported on November 10. The investment in the new shopping centre is estimated at 30 million euro.The Strand mall would be built on a six ha plot near the highway to Sofia, next to a Baumax hypermarket, currently under construction. The openareas will be built like pedestrian streets and will be covered in bad weather.

The main investor in the new Super Borovets mega ski resort is to apply for an EMAS EcoManagement and Audit Scheme eco certificate which guarantees that all work, products and services will be done in accordance with the highest European eco standards.

Municipality of Sozopol commissioned the Port of Bourgas to design a new fishermen port, whose construction should begin in 2009 and will be funded entirely by the state, Dnevnik daily reported, citing towns mayor Panayot Reizi.The proposed idea envisions the new port to be built behind the existing marina, which would be used only as a ship berth. Part of the plan suggests that the fishermens boats that are now at the small harbour to remain there as one of the towns attractions.