Bulgaria Sees Surge in Mortgage Loans: Record-Breaking Growth Fuels Property Market
Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
Greek investment fund Bluehouse Capital is to acquire four properties of Sofia-based ERG Capital 1 and ERG Capital 2 REITs in a EUR 27 M deal, according to media reports.
Bluehouse Capital has already signed preliminary contracts with the two companies, majority-owned by the Bulgarian-American Enterprise Fund (BAEF), Dnevnik daily reported, citing insiders to the negotiations.
The Bulgarian subsidiary of real estate consultants Colliers International has been picked as consultant on the deal.
Last year Bluehouse Capital acquired for EUR 27.3 M the building complex Auto Union Centre, which is located in the Bulgarian capital of Sofia and houses an office complex with the same name.
The fund's portfolio in Bulgaria also features a residential project in Boyana, acquired from Equest Balkan Properties, and the Greenville Hotel in Sofia.
According to the preliminary accord, ERG Capital 1 will sell a store of hypermarket chain Praktiker for EUR 10 M along with a distribution centre of the cosmetics company Oriflame, tagged at EUR 8 M. Both are located in Sofia.
ERG Capital 2 envisages the sale of a Praktiker store for EUR 8 M and a Piccadili store for EUR 6.7 M, both located in the coastal city of Varna.
The preliminary contracts have been signed on August 31, it emerges from a statement of the seller to the stock exchange.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
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
This information was shared during the presentation of data on the current state of the market to journalists
Russia has issued a stern warning in response to Bulgaria's recent legislative efforts aimed at seizing Russian real estate
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022