Sun, Nov 22 2009

PROPERTY BOOM STILL ONGOING IN BULGARIA- REPORT

Fri, Mar 23 2007 09:06 CET 536 Views
PROPERTY BOOM STILL ONGOING IN BULGARIA- REPORT

In an article entitled On Course for a Building Bonanza, The Independent reported that Bulgaria's property boom continues.

Initially Bulgaria attracted investors with the low prices but is now moving up in the international property market.

Coastal resorts continue attracting the majority of buyers, the report said. Several major projects are carried out at the moment and promise to offer highest quality upon completion.

Some new developments focus on golf and luxury property, The Independent reported.

Investors that entered the country several years ago have seen high return rates. Buyers now are a bit more skeptical if the percentage remains just as high.

Market has calmed down but growth will continue in the future, agents said. One of the reasons for further development is Bulgaria's evolving tourism industry, the report said.

Interest in the capital of Sofia is growing, as well. While buyers with bigger budgets turn to coastal and ski resorts, one and two-bedroom apartments located in proximity to Vitosha mountain attract other foreign property buyers, The Independent said.

Write comment

Name:Comment:

Generate new code
Send your comment

More in this category

New modern marina worth 24M leva to be constructed in Pomorie

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.

Construction sector in Europe continues to decline

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.

Bulgarian Property Developments begin construction of 12.6M euro logistics park in Rousse

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.

Discounter chains Penny Market, Plus open stores in Bulgaria

Both retailers target at least 50 outlets in Bulgaria by the end of 2010.

The big question

When will Bulgaria’s real estate and construction sector recover?

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.