Sun, Nov 08 2009
Poor infrastructure, polluted beaches, low standards of construction, noisy building sites, poor service and bankruptcies will put Bulgaria's Black Sea resorts under pressure this summer, British newspaper The Telegraph reported on May 9.
Problems with the power supply, refuse waters and pollution have persisted last summer and have made an appearance this year already, although the tourist season is yet to start properly, the paper said.
"Much of the infrastructure along the coast - including power supplies - was built 20 years ago and was designed for far fewer holidaymakers. The water treatment system at Golden Sands can successfully service 15 000 people, but not the current 40 000," The Telegraph wrote.
For the full story, please visit propertywisebulgaria.com
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