Surge in New Hotels, Restaurants, and Tech Startups in Bulgaria
The economic landscape of the country is experiencing a dynamic shift as new hotels, restaurants, and technology startups emerge at an unprecedented rate
204 hotels are currently up for sale on the Southern Bulgaria Black Sea coast according to real estate agents in Burgas.
85 of the hotels are up for sale for over EUR 1 M, with many of the others officially hotels but run as small family guest houses, BGNES reported.
The price for most of the hotels is above EUR 300 per m2, which according to local brokers is way above the price at which they would be able to be sold at. The brokers continued that the prices are so high as many of the sellers are trying to cover huge debts.
The most expensive hotel being sold is a small guest house in the old town of Nesebar at a price of EUR 3333 per m2.
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As of 2022, the count of fellow countrymen who purchased real estate overseas reached 2,154, based on data from the National Revenue Agency referenced by "Telegraph"
New data from the National Statistical Institute (NSI) sheds light on the housing landscape in Bulgaria, painting a picture of the majority of Bulgarians residing in older homes.
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
The housing market in Bulgaria witnessed mixed trends in the fourth quarter of 2023, with overall prices experiencing a modest increase of 1.2%
Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
Amidst the backdrop of Bulgaria's dynamic real estate landscape, all eyes are on the potential impact of the country's imminent entry into the Eurozone
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