Sat, Nov 21 2009

The industrial and logistics segment of the real estate market has defied trends present in other real estate sectors.
Parcels are used either for development or long term investments. In the first instance, the active party are supposed to be the construction companies, but given current market conditions, they are in a bad state. The latter case – long term investment – simply no longer exists.
The Bulgarian real estate market has hit rock bottom and will not recover any time soon, said Yavlena agency manager Strahil Ivanov.
The most drastic decrease is observed in the prices of residential estates along the Bulgarian Black Sea coast. Falls are observed in all market sectors nationwide but Sunny Beach, Sveti Vlas, Varna and Bourgas are experiencing sharpest reductions.
Equest Balkan Properties sold its City Center Sofia shopping centre to US real estate investment management firm Heitman for 101.5 million euro, Dow Jones news agency reported. The deal was announced on September 19 and should be wrapped up in November. Equest bought the shopping mall off-plan in 2006. It paid 94 million euro to the seller, Stroitown, a company linked to Roumen Gaitanski, the former owner of Sofia's refuse collection companies.
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.
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.
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.
Both retailers target at least 50 outlets in Bulgaria by the end of 2010.
When will Bulgaria’s real estate and construction sector recover?
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Wonder if they would like an apartment development in Byala
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