New buildings replace older property in the Bulgarian Capital

Sofia Echo.com, 4th May 2006

Experts predict a construction boom in Sofia's centre. In two years at most new luxurious complexes would replace the old buildings in the capital, real estate companies said.
The process of replacing old constructions with new ones would start soon, when construction in the capital's suburbs would be completed.
Investors prefer plots surrounded by buildings less than four floors high, 24 Chassa reported. The new complexes usually have underground parking lots to deal with the parking problem in the capital.
One option for the purchase of such plots is the buying of land together with the building on it, experts say. Another opportunity is compensating the original proprietors through ownership rights over a part of the new complex.

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