Sat, Nov 21 2009

Velingrad attracts investors interest

Tue, Apr 01 2008 13:58 CET bywww.propertywisebulgaria.com 461 Views

Land and residential space in Velingrad, in south-western Bulgaria, almost doubled their values for a year, prompted by growing interest from developers, Stroitelstvo Gradut (Construction and the City) weekly reported.

The turn of 2008 saw a surge of investor interest to spa tourism in Velingrad area. There was a significant interest in buying rural and forestry land with the purpose to invest in apartment complexes and hotels, the weekly said.

Currently, agricultural land in the region trades at 15 euro a sq m on average, in certain cases reaching as much as 120 euro a sq m, which is a remarkable rise on previous year - in January 2007 farming land was offered at 15 leva a sq m.
 
The town master plan is currently being amended. It envisions a future growth of the urban area in the direction of the towns of Pazardjik and Draginovo. There are plans for building an 18-hole golf course near the dam.

A lot of five-storey complexes are situated on the outskirts of Velingrad, near the Radonova banya mineral spring and about 700m from Kleptuza lake. The prices vary from 1 190 euro a sq m to 1 245 euro a sq m.

 

Write comment

Name:Comment:

Generate new code
Send your comment
Five-star spa hotel in Velingrad

Another five-star hotel beckons for the spa resort of Velingrad deep in the heart of the Rhodope

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.