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
The sale of BenchMark business center on Sofia's Tsarigradsko Shosse Boulevard has failed after the bidders submitted unsatisfactory offers, the owner said.
BenchMark Fund Estates REIT, one of the biggest property funds on the Bulgarian Stock Exchange, invited a tender for the sale of BenchMark business center in July last year.
"We are not happy with the offers and besides we are not obliged to strike a deal," Veselin Genchev, co-chief executive office of the fund, told Capital daily.
The office center spreads on the 35000 sq. m and the investments made in it have been estimated at EUR 27 M. In a report about its activities in 2009 the fund's management fixed a selling price of EUR 35 M.
Meanwhile it emerged that BenchMark Fund Estates is close to wrapping up the sale of Rakovski Business Center on Rakovski Boulevard in Sofia to the European Commission Representation in Bulgaria.
The impressive futuristic building is expected to obtain a permit for exploitation by the end of the year.
At the end of last year, Benchmark Fund fixed a selling price of EUR 10.65 M for this building. The deal price went down to EUR 8.2 M, to be paid by the European Parliament.
Recent surveys have showed that asking rental and sale rates for office space in the Bulgarian capital Sofia have significantly dropped driven by the large supply and the weaker demand.
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