Sun, Nov 22 2009
Property prices were registering the highest increase in East European countries, data of the British property company Knight Frank, presented in Financial Times shows.
Japan continues struggling with price decrease, the report said. Property in Hong Kong was also losing value after a previous boom.
Worldwide, property has become 8.5 per cent more expensive, the analysis showed.
Significant price increase was observed for property in Bulgaria and Estonia. According to the analysis the increase resulted from the equalisation of prices in Europe. Because of investor interest property prices in Bulgaria went up by 20.5 per cent.
According to predictions Slovenia and Slovakia would become Europe's property hotspots in the coming year. Economic recovery would also bring up property prices in Germany.
The Black Sea town of Pomorie has approved a proposal for the construction of a spacious and modern marina, with a capacity of over 600 yachts and small passenger ships.
Over the course of a year, from one of the leaders in Europe in new construction, Bulgaria became one of the countries currently quagmired at the bottom of the table and was now amongst the three worst hit countries, along with Romania and Slovenia.
The park is posed to act as an economic stimulant in the region, creating a modern infrastructural base for companies. It is set for completion by Q3 of 2010.
Both retailers target at least 50 outlets in Bulgaria by the end of 2010.
When will Bulgaria’s real estate and construction sector recover?