New rules that envisage that all property transactions in Bulgaria must be carried out via bank transfer were approved at first reading this week by the parliament.
The demand for European property by Russians is steadily increasing despite the economic crisis, Russian media have reported.
The negative trends in Bulgaria's real estate market will continue at least until the third quarter of 2010, a property report of the "Foros" agency reveals Tuesday.
Penny Market (Rewe Group), German soft discounter with an aggressive growth strategy for Bulgaria, announced it wants to build a 50-unit network in the country by the end of the year.
The economic crisis in the past year has proved fertile for the discount retailers stepping on Bulgarian soil in recent months and the country will see their boom in 2010, a realtor report says.
The UK Foreign and Commonwealth Office has urged Bulgaria to raise standards and tighten controls in the Real Estate sector in the country.
Bulgarian real estate prices in over 20 cities and towns have seen a decline in value of up to 28% in the third quarter of 2009, compared with the same period the previous year.
Bulgaria is among the countries that marked the sharpest fall in residential prices in the third quarter, an international survey shows.
The Business for Sale column of Financial Times has listed 27 Bulgarian hotels and holiday accommodations.
A total of 685 new residential buildings were completed in the third quarter of 2009 which is a 2% drop compared to the same period of 2008.
The downturn in the real estate sector in Bulgaria caused by the global economic crisis has not affected the construction of luxury properties in the country.
Bulgaria's Minister of Regional Development, Rosen Plevneliev, broke the ground of a modern logistics park in the Danube city of Ruse.
The building permits issued by local administrations in Bulgaria during the third quarter of 2009 are down 35% year/year while the residential units inside those buildings are down 60%.
There have been some positive signs in the market for luxury property in Bulgaria’s winter resorts according to the National Real Estate Association (NREA).
Equest Investments Balkans Limited, listed on the London Stock Exchange's alternative investment market, is continuing to divest more assets from the portfolio of companies it owns in Bulgaria in order to boost liquidity.
Draft amendments to the Notaries Public Act are going to make bank payment mandatory for all real estate property deals in Bulgaria starting January 1, 2010.
Russian oligarchs have paid up to EUR 3 800 per square meter for vacation properties at Bulgaria’s Black Sea coast.
50% more Chinese Tourists in Bulgaria
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