Thu, Feb 09 2012
From October 10 to 12, the forth edition of the Balkan Real Estate Conference (BalREc) will take place at the Inter Expo and Congress Center in Sofia. The property expo gives opportunity to professionals not only to present their products and services, but to create a network of new business partners and friends, organisers said in a media statement.
Spread over 4000 sq m, the property exposition will feature 300 projects presenting different segments of the construction business. More than 150 exhibitors, among which leading Bulgarian and foreign developers and investors, real estate agencies, financial and credit organisations, will present their latest projects and services to existing and potential customers.
Traditionally, the residential property segment is best presented and most popular among visitors and clients, considering that it represents more than 50 per cent of the projects on offer. Organisers said that the number of large-scale business projects such as office buildings, commercial and logistics centres was rapidly increasing.
For a first time, visitors will see the concept of residential gated property Zelenika in Sofia, Residencia Botanica in Sofia borough of Boyana, and the Prestige complex, also in Boyana, among others.
Pravets Golf and Spa Club near the city of Pravets will also have its premiere at BalREc, featuring a golf course, hotel and other property.
Preceding the expo, a conference BALREC - Bulgaria will be held on October 9 at Sheraton Hotel in Sofia. Invited are real estate professionals who will discuss the current state and the potential for development in the upcoming two years of the Bulgarian property market.
Some of the participants are Immo Industry Group, Bulgarian Properties, Alfa Development Management, RE/MAX Chance Group, and more.
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.
Nearly all banks are ready to finance between 80 per cent and 90 per cent of the price of a home, provided it is a good building in a large city, Bulgarian daily says.
Property prices in Bulgaria were five to 10 per cent lower in 2011 than in 2010, while initial estimates for this year are that they will remain largely unchanged, with transactions remaining at ‘crisis levels’.
Bulgaria’s capital city Sofia ranks 17th, report says, quoting Global Property Guide.