Sun, Jul 05 2009

MORTGAGED PROPERTY MARKET IN BULGARIA FAILS DEVELOPING

Mon, Apr 09 2007 16:01 CET 308 Views

The market of mortgaged residential and commercial property in 2007 experienced a slight decrease as compared to sales figures for 2006.

The most frequent reason for the sale of mortgaged properties is the inability of owners to pay their monthly installments, investor.bg reported.

Only 30 mortgaged properties are currently offered on the market in Sofia and their number in the past six months remains unchanged.

Sufficient demand for mortgaged property was registered in the coastal cities of Bourgas and Varna in the middle of 2006. Such offers are missing in 2007.

The largest number of mortgaged properties offered on the market in smaller Bulgarian towns was registered in Pleven. Nearly 10 two and three-bedroom apartments are currently offered in Pleven.

The number of mortgaged residential properties in Sofia is twice as high as in Pleven. In contrast to other cities, mortgaged properties in the capital are located far from the centre.

According to agent predictions the mortgage market will remain unchanged in 2007.

Write comment

Name: Comment:
Send your comment

More in this category

Super Bourgas project is launched

The project will be financed by the Bulgarian Bank for Development, and the Joint European Support for Sustainable Investment in City Areas, or Jessica Programme, although the report has so far failed to reveal the total cost of the vast enterprise.

Varna aims to protect green areas with new legislation

The strategic plan envisages the conservation of the nature "for decades ahead", and it was formulated by a municipal team headed by professor Ivan Nikiforov, backed by Prime Minister Sergei Stanishev.

Construction of the new Sofia to Vidin railway line must start by 2013

Once the overhaul and reconstruction of the Sofia–Vidin line is complete, it will cut travel time to three hours, as the train will be able to reach speeds of up to 160 km/h, shortening the journey to three hours.

Marriott to enter Bulgaria with three of its brands

Marriott however has made it clear that is not interested in investing in construction, but rather to occupy and manage existing buildings. Its strategy is to obtain management contracts.

Colliers International: vacant office space in Bulgaria on the rise

Investors realise that it’s not viable to have a building remaining empty over the course of a year – so it's better for them to employ more flexibility to offset that loss.

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

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.