Bulgaria Property Market among World's Biggest Losers
Bulgaria is among the countries that marked the sharpest fall in residential prices in the third quarter, an international survey shows.
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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.
The economic crisis has revived the demand for the Socialist era apartments on the Bulgarian real estate market.
The crisis on the Bulgarian real estate market has affected severely the budget of the capital Sofia.
Real estate property in Bulgaria is the most sought after by Russian buyers, according to data of the Russian company MIEL’ Distant Property Management.
The Sofia property market shows reason for cautious optimism, according to Shteyan Kalchev, Manager of real estate company RE/MAX Partners.
There is a serious reduction of construction works in the country compared to one year ago, according to the Chair of the Sofia branch of the Bulgarian Construction Workers Chamber, Svetoslav Glossov.
The prices of residential property in Bulgaria declined by an average of 28% in the third quarter of 2009 compared to the same period of 2008.
The residential property prices in the Bulgarian capital Sofia have dropped by 16% in the third quarter of 2009 compared to the same period of 2008.
Austrian Immoeast, one of the largest real estate investment funds in Central and Eastern Europe, has sold its share in the Bulgarian developer Prime Property BG REIT.
Bulgaria's Minister of Regional Development, Rosen Plevneliev, has announced that 10% of the building firms in the country are likely to go bankrupt in the next few months over the global financial crisis
The Sofia-based UK property developer Cleves Ltd has identified five spots where large numbers of expatriates are employed in the Bulgarian capital.
UK investors are turning their backs on the Bulgarian property market with a 3% fall in interest since 2008 according to mortgage specialists Conti.
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