Sun, Nov 08 2009
At least eight projects for hotel construction in Bulgaria's Hisarya spa resort have already received approval, Hisarya municipality said.
The town is famous with its healing mineral springs, investor.bg reported.
Bulgarian and foreign investors showed their interest in the town. Large plots feature among the most wanted terrains for the construction of hotels, spa centres and smaller vacation houses.
Prices in the centre of the town reached 70 to 80 euro per sq m. The most attractive areas are the terrains close to the mineral springs and hotel Augusta.
The new residential construction is offered at average prices of 800 euro per sq m.
The average price for small houses with yards amounts to 15 000 euro. Terrains outside Hisarya could still be found at lower prices, nearly ten euro per sq m as the prices are expected to go up soon.
Office rent transactions peaked at 65 000 sq m between July and September 2008, but collapsed to 10 700 sq m in Q3 2009, Forton manager Sergei Koinov said.
Most potential buyers are now opting to buy a luxury flat in the range of 120 000 to 150 000 euro or a single family home for about 500 000 euro.
About 30 000 to 35 000 people employed in the construction sector were facing redundancies in 2010, Bulgaria's Regional Development Minister Rossen Plevneliev said on October 26.
Average market prices of housing in Bulgaria dropped five per cent in July-September, measured quarter-on-quarter, the National Statistical Institute said on October 23 2009.
The European Investment Bank (EIB) has released a 43.5 million euro loan to Sofia Municipality, for infrastructure projects worth 88.1 million euro in total