Статии

Choosing a property via Skype

Monitor Daily, 19.05.2012, excerpt — Sat, 19 May 2012 00:00:00 GMT

Real estate agency Bulgarian Properties announced the launch of their new service Skype Viewings. According to the company this way the buyer will be able to get an initial visual idea about a number of properties very quickly. Usually a Skype viewing lasts 15-20 minutes. During this time the real estate agent shows the whole property and all details the client wants to view up close. The potential buyer can ask questions and communicate with the real estate agent as it they were there on the spot. For one to view properties via Skype they only need a computer or a mobile phone with internet connection, a microphone and Skype installed. The first technological innovations in property viewings on the Bulgarian market were videos which were sent to interested buyers. Then came the sending of photos and clips on the e-mail and now it is time for Skype viewings. According to real estate

Property Prices in Bulgaria Expected to Stabilize in 2012

novinite.com, 10.04.2012 — Wed, 11 Apr 2012 00:00:00 GMT

Bulgarian property prices are largely expected to be unchanged in 2012 as real estate markets around the country remain at a standstill, brokers say.Average prices in the capital city Sofia were around EUR 735 per square meter during the first quarter of the year, from EUR 730 in the last quarter of 2011, according to Bulgarian Properties real estate agency.The agency says this is a sign of the market stabilization even though the decline in residential property prices in Bulgaria is still visible. The extent of the decline is shown by figures which reveal that at the beginning of last year prices were 11% higher than now – about EUR 830 per square meter.Brokers expect that the number of transactions in 2012 would remain at similar levels as has been seen over the last year.The agency does not expect a significant decline in prices and transactions during the traditionally strong

Bulgarian property market 'starting to pick up'

propertyshowrooms.com, 11.04.2012 — Wed, 11 Apr 2012 00:00:00 GMT

The real estate market in Bulgaria has begun to stabilise, with a rise in the number of transactions concluded recorded by local agents.Figures released by property consultancy Yavlena revealed the volume of deals climbed by 22 per cent in 2011, compared to a year earlier, the Sofia Echo reported.However, the organisation noted the majority of the sales were for agricultural land, with the number of purchases made with a mortgage climbing by just 4.2 per cent in the same period.Yavlena also pointed out many people seeking a property in Bulgaria are keen to buy in the lower price bracket of €25,000 (Ј20,624) to €50,000, although there is little supply at this end of the market.Meanwhile, data recently published by Bulgarian Properties indicated residential real estate values in Bulgaria are stabilising, with the firm recording positive month-on-month growth in Varna and

BULGARIAN PROPERTIES' Chief Operations Manager: Foreigners are the most active buyers of holiday homes

Horizont program, Bulgarian National Radio — Thu, 29 Mar 2012 00:00:00 GMT

Polina Stoykova, Chief Operations Manager of real estate agency BULGARIAN PROPERTIES, gave an interview for Horizont program of the Bulgarian National Radio, in which she comments the holiday home market in Bulgaria. According to the data of the company the foreign buyers are the most active parties on the holiday home market in the ski and seaside resorts in Bulgaria. At present buyers from Russia and Russian-speaking countries make up about 40% of all foreign buyers in the country, as some of the other foreign buyers are French, Italian, German, etc. The British, who were the most active holiday home buyers a few years ago, are now mostly playing the role of sellers: they are selling the properties they bought during the property boom. The boom of the big investments in holiday complexes is now over and the result of the crisis is higher supply and less demand. At the moment it is

Real housing prices in Bulgaria up by 106% in a decade

after Lloyds TSB International Global Housing Market Review — Wed, 21 Mar 2012 00:00:00 GMT

Emerging markets saw the biggest increases in house prices over the past decade, the Lloyds TSB International Global Housing Market Review reports.According to the report Bulgaria ranks sixth in the world in terms of increase in housing prices for the period 2001-2011. The ranking shows that prices of residential properties in Bulgaria have gone up by 106% for the period between the third quarter of 2001 and the third quarter of 2011. The change in prices is expressed in real terms, i.e. by taking into consideration the consumer price inflation for the period. Bulgaria is one of the six countries that have recorded price increases over the past decade that is more than double the rise in the UK, which ranks 13th. The increase in Bulgaria is almost five times as big as that in the Eurozone, which reports an increase of 23% of housing prices for the decade. Lloyd’s review shows that the

Bulgarian property values 'down significantly'

www.propertyshowrooms.com, 19 March 2012, excerpt — Tue, 20 Mar 2012 00:00:00 GMT

The value of real estate in Bulgaria has fallen by approximately 50 per cent since its peak in 2008, with both ski and beach resorts hit the hardest by the downturn in the market.This is according to chief operations manager of Bulgarian Properties Polina Stoykova, who explained that, despite the slump in prices, there is reason to be optimistic about some regions in the nation.She highlighted the ski resort of Borovets, which has seen a rise in interest from investors, although prices slipped by an average of 18 per cent in 2011.Another location that appears to be on the radar of those seeking real estate in Bulgaria is Sunny Beach on the Black Sea coast, where Russian buyers are helping to support the market for holiday homes.

Country homes in Bulgaria value for money

rightmove.co.uk, 18.03.2012 — Mon, 19 Mar 2012 00:00:00 GMT

The cost of a country home in Bulgaria has dropped to levels last seen in 2006. As a leading estate agency there reports that since the beginning of 2012 rural properties have sold for an average price of just €15,500, compared to €18,900 for the same period last year.Bulgarian Properties added that this is similar to the average price in the last quarter of 2011, namely €15,600. Most deals for rural houses are between €10,000 and €20,000, but there is also interest for more expensive houses that are ready to live in, and close to a resort or city.It is rural houses in the seaside regions – around Bourgas, Varna and Dobrich and in the villages in central Bulgaria – and close to the towns of Veliko Tarnovo, Stara Zagora and Plovdiv that attract most interest from buyers, said Bulgarian Properties.The agent added that the rural houses on the

Bulgaria, four years after the economic crisis hit

www.bulgariabuyingguide.com — Fri, 16 Mar 2012 00:00:00 GMT

Holiday homes in beach and ski resorts in Bulgaria were hit by the economic crisis earliest and probably the hardest. As a result they lost about 50 per cent of their value compared to their peak value in 2008. At present the markets in Sunny Beach and Bansko are similar in terms of supply and prices, but for now Bansko lags behind in terms of interest from Russian buyers, who are the main players on the Bulgarian holiday home market. Bansko, Borovets and Pamporovo 2011 was not a very successful year for holiday homes in the ski resorts. Property prices there fell considerably and since the beginning of 2012 the segment has been more dynamic and there has been more interest from buyers. According to Bulgarian Properties’ data, the average asking price of apartments in Banskoin February 2012 was €550/square metre with prices there starting from about €350/sq. metre.

Big Bargains in Bulgaria for Holiday Home Hunters

novinite.com, March 15, 2012 — Fri, 16 Mar 2012 00:00:00 GMT

The cost of buying a holiday home in Bulgaria is getting cheaper, which is good news for foreigners seeking a bargain deal for their new place in the sun.According to the latest data released by Bulgarian Properties realtor, prices of holiday homes in Bulgaria have slumped by a whopping 50% in comparison with 2008 when they peaked.Holiday home hunters generally prefer to buy property in Varna on the Black Sea or in Burgas. The southern coastal resorts and Sunny Beach in particular have witnessed the highest number of deals.Russian investors now dominate the Bulgarian market as British holiday homeowners are selling up and coming home in droves – or at least sending foreign money back to the UK.Russians, who account for 40% of foreign buyers on the property market in Bulgaria, have shown a special preference to the Sunny Beach resort.In February the average asking price for apartments

Bigger interest in holiday homes in Bansko

Stroitelvo Imoti, vol.9, 27.02.2012 — Mon, 05 Mar 2012 00:00:00 GMT

In the past week the world was watching Bulgaria and the ski resort of Bansko, it being the host of the Alpine Skiing World Cup. For the first time in Bulgaria there were four competitions – the men’s slalom and giant slalom and the women’s downhill and super giant slalom – featuring all the best skiers on the planet. This event increased immensely the interest in Bansko as a tourist and property destination. The experts from BULGARIAN PROPERTIES reported such a trend in the last few weeks. “Of course, we cannot talk of tangible results in terms of an increase in the number of sales, but in terms of image and advertisement this event has given a lot to the resort. I think this is the right way to attract interest to the resort and, if done regularly, in the long run it will have a very positive effect. It must be noted that Bansko hosts quite a few events all year round which

The real estate markets in Greece, Romania and Bulgaria

www.setimes.com, 20.02.2012 — Tue, 21 Feb 2012 00:00:00 GMT

Central Athens homeowner Mary Parisi's tale is all too familiar these days. "I've been trying to sell my house for the past year," Parisi, owner of a five-year-old 90 square metre flat, told SETimes. No one, it seems, is ready to take the plunge. "I've placed ads in all major papers and have had only a handful of calls. Once they see the house, they love it, but when it comes to the price they're reluctant," Parisi says. "And I've even lowered the price by 20,000 euros." The ongoing economic slump, rising unemployment rates, diminishing purchasing power, newly imposed property taxes and banks' conservative or no-loan policies have taken a massive bite out of the Southern Europe property market, which has screeched to a virtual standstill. "It is a take it or leave it game,” said Emil Biclea, who has been trying to sell his flat in Bucharest for two

Rural houses more attractive for property buyers

Banker newspaper, vol.5, 03.02.12 — Tue, 07 Feb 2012 00:00:00 GMT

The interest in rural properties returned as early as in 2010, sales increased and last year there was almost no change. This is what the data in the annual analysis of real estate agency BULGARIAN PROPERTIES shows. The experts add that the buyers’ interest is now focused on more expensive rural houses that are ready to live in. This is why the company reports an increase in the average prices of concluded deals year-on-year in most regions and in the regions of Varna and Veliko Tarnovo in particular. Prices in the areas of Bourgas and Stara Zagora remained the same as in 2010 and in some areas like Plovdiv, Yambol, Kardzhali and Pleven there was a price drop. The interest in the villages in northwestern Bulgaria remains minimal.The average price of concluded deals with rural properties in 2011 was 15,900 Euro, which is 37% more compared to 2010. At the same time the concluded deals

Construction Categories in Bulgaria

BULGARIAN PROPERTIES — Tue, 17 Jan 2012 00:00:00 GMT

It is good for an investor to know the category of the construction in which they are investing their money because for each category there are specific rules and documentation. According to the Spatial Development Act (SDA) depending on their characteristics, significance, complexity and operating risk constructions are divided into six categories. In the first category are the constructions of highest importance and those in category six are the constructions that don’t need investment project approving to receive a building permit. Constructions from the first, second and third category are put into operation based on a permit for use issued by the Directorate for National Construction Supervision. Constructions from fourth and fifth category are put into operation by the bodies of the municipal administration; after the actual completion of the construction the assignor registers

Global Housing Market Stagnates in 2011

Knight Frank — Fri, 13 Jan 2012 00:00:00 GMT

The Knight Frank Global House Price Index*, which tracks the performance of the world’s mainstream housing markets, showed zero growth in the three months to September. This was the index’s weakest performance since Q2 2009.The third quarter saw mounting pressures on the global economy with politicians seemingly helpless to get to grips with the Eurozone debt crisis. This has reawakened fears of a double dip recession, not just in Europe but around the world. Unsurprisingly, this economic uncertainty has been reflected in the performance of the world’s housing markets. The boom conditions experienced between 2004 and 2007 when global housing markets recorded double-digit annual price growth for 16 consecutive quarters are a distant memory. Average annual growth now stands at just 1.5%.Perhaps not surprisingly, Ireland experienced the largest annual fall in property prices with a

BULGARIAN PROPERTIES’ Chief Operations Manager: Bulgaria must be promoted abroad well

Trud Daily, 06.01.12, p.12+13 — Mon, 09 Jan 2012 00:00:00 GMT

Polina Stoykova - the Chief Operations Manager of real estate agency BULGARIAN PROPERTIES, comments for Trud Daily the company’s forecast for 2012. 2012 will not be an easy year for the business in general and for the real estate sector in particular. But we have been working in such a regime in the last 3 years and we have managed more or less to adapt and to achieve some balance in our business activities. This year we will probably not be hiring new people, we will keep the existing staff and the salary levels and we will continue restructuring and optimizing our work.What is important specifically for the real estate sector for coming out of the crisis is the return of foreign interest in buying real estate in Bulgaria. This interest might return with Bulgaria’s more active promotion among potential property buyers abroad. The government could help by facilitating visa procedures

Investing in property in Bulgaria

BULGARIAN PROPERTIES — Fri, 06 Jan 2012 00:00:00 GMT

Q: Is it possible to obtain permanent residency by property investment? If so, how about the additional requirements?A: Permanent residency and long-term visas are options for property buyers. The regular scheme is to obtain visa D, which is a 3-month single entry visa for Bulgaria and when they arrive here, they apply for extention of this visa into a 1-year multiple entry visa. After that they continue to extend the visa. However, there are no guarantees that one will be granted a visa if they have a property in Bulgaria - it all depends on the particular person.Q: What is the procedure for real estate purchase by foreign investors?A: The procedure is as follows1. The chosen property needs to be reserved and taken off the market. After the unit is selected as a rule the buyer has to pay a deposit in the amount of 1,000-2,000 EUR. Only after that will the property be marked as reserved

Prices of holiday properties in Bulgaria continue to drop

Trud Daily, 04.01.12 — Wed, 04 Jan 2012 00:00:00 GMT

The asking prices of holiday homes in the large resorts in Bulgaria continue to fall, an analysis of BULGARIAN PROPERTIES shows. Compared to the end of 2008 prices of apartments in Sunny Beach have decreased by about 45%. At the end of November 2011 the average asking price was 750 EUR/sq.m. and 51,400 Euro average asking price for an apartment. However, deals are concluded at 515 EUR/sq.m. or 32,400 Euro.It is Russian clients who are most interested in beach properties and they find extremely good bargain offers of finished and furnished apartments that are ready to move in at prices up to 40,000 Euro. The Russians are the main buyers of holiday apartments (mainly beach apartments) in the last couple of years and this trend is to continue in the future, the analysis reads. There is not a lot of optimism for the ski holiday homes either. Prices of properties in the largest ski resort in

EU steps in to prevent housing bubbles

europolitics.info, 15.12.2011 — Tue, 20 Dec 2011 00:00:00 GMT

The European Commission is preparing to step up surveillance of housing markets in an attempt to prevent the kind of crash that sent the Irish government begging for aid from the EU and IMF to bail out banks heavily exposed to the property market. In the pipeline are a series of proposals on mortgage credit and capital requirements, but beginning on 13 December, the Commission will also begin monitoring house prices, part of an agreement to increase scrutiny on macroeconomic policies that could leak to other countries, causing strains across the EU.It will do this via an ‘imbalances scoreboard’, where levels of debt, investment, wages and house prices, amongst other things, will be reviewed over time. An alert will be flagged if prices rise more than 6% year on year, which could prompt an in-depth investigation by the Commission if other warning signs - such as high credit growth or

Bulgaria Among the World’s 8 Most Distressed Property Markets

www.ipsbmv.com — Fri, 09 Dec 2011 00:00:00 GMT

What do the distressed markets mean for the property investor? In a nutshell it means low prices and banks turning their attention from the developers to those who can actually afford to buy property from them. This means some fantastic mortgage deals in excess of 100% LTV in some areas and unbelievably low prices on property offered by developers or in many cases the banks themselves. Of course all this distressed property piling (mostly in Europe) can be bad news for unwary property investors who might stray off the beaten track into areas that are unlikely to see growth for the next 20 years or so. These are the ghost towns where supply far outstrips demand, tourists are conspicuous by their absence and the buildings themselves are built on shaky foundations.So with this in mind it is now more important than ever to choose your market wisely, or better still choose an expert to guide

Prices of land in ski resorts: Romania vs Bulgaria

www.casamea.ro — Mon, 05 Dec 2011 00:00:00 GMT

The most expensive land in a mountain resort in Romania is to be found in the ski resort of Sinaia where, according to estate agency Mervana, the average price is 204 euro/sq.m. Here there are also plot of land whose prices reach about 1,000 euro/sq.m. Thus, a plot of 1,509 sq.m. located at 1,900 m costs 994 euro/sq.m. while on average land prices in the resort reach 876 euro/sq.m. Next in the ranking come the following resorts: Busteni - 183 euro/sq.m., Azuga - 175 euro/sq.m., Predeal - 174 euro/sq.m., Campina - 83 euro/sq.m., Bran - 61 euro/sq.m., Breaza - 49 euro/sq.m., Cornu - 45 euro/sq.m., Rasnov - 37 euro/sq.m., Valea Doftanei - 22 euro/sq.m. and Telega - 15 euro/sq.m.In Bulgaria, the most expensive land in a ski resort costs 335 euro/sq.m. and it is located in the ski resort of Bansko."In the Bulgarian mountain resort of Bansko land prices are between 50 and 150 euro/sq.m.

Rising private consumption to boost retail space demand

Europaproperty.com, Central & Eastern Europe Retail Guide — Wed, 30 Nov 2011 00:00:00 GMT

Bulgaria’s total retail sales will expand to $13 billion by 2015 from the forecast $10 billion this year, according to the latest BMI Bulgaria Retail report. Rising disposable income, Bulgarians seeking more choices and low prices offered by foreign and domestic chains will reportedly be the main drivers of growth. Coupled with renewed economic growth, retail sales will increase by an average of 5.5 percent between 2011 and 2015, said BMI. A growing urban population with higher disposable income and an interest in purchasing will also bolster retail sales and consequently retail investment in the medium term.Before 2005 there were no modern retail parks and malls in Bulgaria and there was a huge niche, according to Polina Stoykova, Chief Operations Manager at Bulgarian Properties. Consequently, this led to an oversupply of malls as investors tumbled in and built retail centres and

UK citizens lead EU settlers in Bulgaria

rightmove.co.uk — Wed, 23 Nov 2011 00:00:00 GMT

More British people live in Bulgaria today than nationals from any other country in the European Union, which total 8,444.Statistics from the Bulgarian National Statistical Institute (NSI) show that as of February 2011, there are 36,723 foreigners living in Bulgaria, accounting for 0.5 per cent of the country’s population. Twenty-three per cent of these are from the EU, including 2,605 UK citizens and 1,253 Greeks. The largest groups of foreigners in Bulgaria are Russians, numbering 11,991, and Ukrainians (3,064). “The data shows that the biggest groups of foreigners living permanently in Bulgaria include citizens of the countries from which there are most property buyers in the country – mostly from Russia and the UK,” said Polina Stoykova of agent Bulgarian Properties. “This shows that apart from investment purposes part of the foreigners’ interest in real estate in

BULGARIAN PROPERTIES’ Chief Operations Manager Polina Stoykova: Buying a Home Cannot be Postponed for Ever

probook.bg — Thu, 17 Nov 2011 00:00:00 GMT

Polina Stoykova – Chief Operations Manager of one of the leading real estate agencies BULGARIAN PROPERTIES – was among the experts answering the questions of the participants in a probook.bg discussion on the topic Did property prices hit the bottom?Question: Which are the factors that define whether prices of homes in Bulgaria will or will not continue to fall? Polina Stoykova: 2011 was a year charged with great expectations for the economy and property market’s coming out of the crisis but unfortunately not all of them came true. This is because the coming out of the crisis depends not only on the pace of recovery of Bulgaria’s economy and on the internal processes in the country but is directly linked to what is happening in Europe and around the world. The positive news coming from the property market up to now that brings certain stabilization to real estate prices in the

Prices of city apartments in Bulgaria in 3Q 2011

www.rightmove.co.uk — Tue, 08 Nov 2011 00:00:00 GMT

Investors waiting in the wings to snap up city buy-to-lets in Bulgaria will be encouraged by signs that prices could be leveling out, bringing the time to dip into the market closer.Prices for apartments in Bulgaria’s regional cities did fall in the third quarter of 2011 but they dropped at the lowest rate compared to previous periods since the beginning of the economic crisis, according to recent figures from the National Statistical Institute (NSI).In terms of figures, prices fell by just 0.84 per cent compared to the previous quarter and by 6.1 per cent year-on-year. NSI data shows that the average price of an apartment in Bulgaria’s regional cities is currently €460 per square metre. In the last quarter apartments in the capital Sofia were sold for an average of €745 per square metre and in Varna €763 per square metre.”Three years after the beginning

Number of Bulgarian homes up by 5.4 per cent in last decade

themovechannel.com — Wed, 02 Nov 2011 00:00:00 GMT

The number of Bulgarian properties has risen over the past decade, according to 2011’s population and housing census.The figures, published at the beginning of the last quarter by the Bulgarian National Statistical Institute, found that 5.4 per cent more homes exist now than in 2001. There is a total now of 3,887,076 houses in Bulgaria, higher than the 3,688,802 found by the census 10 years ago.According to BulgarianProperties.com, though, this increase in housing stock is relatively small compared to the property boom of the last decade, where the number of homes increased by 20 per cent. The biggest rise in the number of homes is in the regions of Bourgas and Varna because of the dynamic construction in the cities themselves, as well as the mass-scale construction of holiday homes in the resorts in the region.The data from previous population and housing censuses in Bulgaria show

Return of the property investors

Simon Feek, SR&L, September 2011 — Mon, 17 Oct 2011 00:00:00 GMT

There has recently been much speculation about the financial crisis - which burst Bulgaria’s real estate bubble in early 2008 – is it going to ever end? What about the downgrading of super economies such as the United States; how is this going to affect real estate investment in Bulgaria? And what of the crisis in neighbouring Greece? Surely, if the media and the other doom and gloom merchants are to be believed, shouldn’t we all start looking hard for places to stash our cash in fear of a “double dip” recession, change our Euros into Yuan (China’s currency) and baton down the hatches and wait for Economic World War 3 which will see the evaporation of the European Union?And you must be crazy to even consider investing in anything as unstable as real estate after the past three years have seen literally billions of Euros wiped off property prices all over the world, not just

Bansko Apartments 50% Cheaper

www.questbg.com — Mon, 26 Sep 2011 00:00:00 GMT

This summer has seen Bulgaria return to the top 10 of best places to buy according to The Move Channel. This is good news for property hunters who want to take advantage of the affordable prices within the country. After several years of decline in the Bulgarian property market, the country has began to witness significant improvements this year. Summer newsThis has included an enormous amount of Russians buying along the Black sea coast, in particular in the Sunny Beach region. However the ski resorts, in particular Bansko, have witnessed further price reductions from fewer sales. The latest figures reported by market analysts of Bulgarian Properties have reported that real estate prices have dropped by 50% to those of 2008 prices in Bansko.Winter SeasonThe news on price reductions for apartments within the ski resorts is optimistic as the summer season on the coast draws to a close;

Bargain ski property in Bulgaria as prices fall by 50%

www.homesgofast.com — Mon, 26 Sep 2011 00:00:00 GMT

New figures have revealed that there is plenty of bargain property in Bulgaria available, particularly in the country’s biggest ski resort. New research has found that apartments in the resort of Bansko have fallen by half in just three years, making them extremely affordable to foreign buyers.Ski property in Bulgaria half the price it was in 2008The new report from Bulgarian Properties, a market analyst, has found that the price of apartments in Bansko have fallen in value by a massive 50 per cent since 2008. This has resulted in increased interest from buyers looking for affordable property, with the Move Channel recently reporting that Bulgaria had returned to the top ten destinations for online property searches.The research found that in the first eight months of 2011, apartments in the ski resort of Bansko sold at an average price of 760 euros (Ј663) per square metre. However,

Prices slashed on Bulgarian property bargains

www.aplaceinthesun.com — Sat, 17 Sep 2011 00:00:00 GMT

The price of apartments in Bulgaria’s largest and most popular ski resort have dropped by 50% since 2008, according to the latest figures.In the first eight months of 2011, apartments in the Bansko resort were sold at an average of 760 euros per square metre. The index value of Bansko property is now at 51.31 – almost half that of November 2008, when the index value was at a peak of 100.As a result the resort is facing increasing demand from overseas property-hunters looking for a bargain property near to the pistes. While other resorts are slashing prices as well, most of them have only decreased by 22% meaning that Bansko is far ahead of its competitors in terms of affordability.And it’s not just property on the pistes that is falling in price. Beach front property is also cheap, with reports that prices in the first half of the year have fallen by 5% across the country. This

Bulgaria's ski homes 50 per cent cheaper than 2008

www.ibtimes.com — Fri, 16 Sep 2011 00:00:00 GMT

Apartments in Bulgaria’s biggest ski resort are 50 per cent cheaper than 2008, according to the latest figures.The report, from market analyst Bulgarian Properties, reveals that apartments in Bulgarian resort Bansko have halved in price over the past three years, attracting interest from buyers looking for affordable winter property.In the first eight months of 2011, apartments in Bansko were sold at an average of 760 euros per square metre. But after a hefty 10 per cent price drop in May, the index value of Bansko property is now at 51.31 – almost half that of November 2008, when the index value was at a peak of 100. The property bargains aren’t just limited to the Blagoevgrad region, though, with Bulgarian beach property also seeing major declines in prices over recent years. But Bansko is leading the way on the ski slopes, with other major resorts seeing only a 22 per cent

Small, "fast moving" buildings replacе large projects

Capital newspaper — Thu, 18 Aug 2011 00:00:00 GMT

The new construction in Sofia continues decreasing and started buildings have less apartments, the housing statistics reported quarter after quarter. Recently built brick mastodons smelt to small buildings with one or two entrances and 10-15 apartments. The reasons are different – no buyers, entrepreneurs do not want to risk and banks heavily finance large projects. However the direction is one - increasingly limited supply of new homes. And this after years of a boom of panel and brick construction looks more normal. Indeed, it was confirmed by the register of building permits on the site of the department "Architecture and Urban Planning" of Sofia Municipality – large projects are disappeared from the market. Since the beginning of the year to July there is no a building with known from the past areas over 10,000 sq.m., which has received a building permit. The approved

Luxury Properties in Bulgaria Still in Demand

Enterprise Magazine, August 2011 — Thu, 04 Aug 2011 00:00:00 GMT

Wonderful view, top location, high ceilings, big planted yard, designer furnishing, unique interior, spacious rooms. On the sea, in the mountain, in the suburbs, in the heart of the megapolis. All these verbless descriptions are united by one thing – luxury properties.It is as if during the crisis, at least in Bulgaria, luxury properties were out of the scope of experts and analyzers and were somewhat forgotten.In fact, there have always been and there will always be prestige properties. And it is exactly they that survived and turned out to be resistant to economic and financial cataclysms. Of course, the sector underwent some changes, the criteria are now different, but they remained a defining segment on the market.Experts agree that the luxury property market is coming out of the crisis. It has been more dynamic since the last quarter of 2010. And if in 2009-2010 there were almost

Prices of Rural Properties in Bulgaria 6% Cheaper in 2Q 2011

Monitor Daily, 19.07.2011 — Tue, 19 Jul 2011 00:00:00 GMT

The number of sales of rural houses in Bulgaria in 2Q 2011 remained the same as in the first quarter of 2011, an analysis of real estate agency BULGARIAN PROPERTIES reads. The average price of sold rural houses in 2Q 2011 is 16,200 Euro, which makes a decrease of about 6%. Most deals with rural properties are concluded in Central Bulgaria – around Plovdiv and Stara Zagora, as Bulgarian buyers are also interested in these areas. Rural houses in which buyers are most interested are priced up to 15,000 Euro or are in a very good condition and are ready to live in with prices between 25,000 and 40,000 Euro. In the region of Bourgas (southeast Bulgaria) the average price of rural properties (excluding those close to the sea) is about 20,000 Euro. In the regions of Varna and Dobrich (northeast Bulgaria) the average price is 12,750; in the region of Yambol (southeast Bulgaria) rural

How a property offer becomes a concluded deal

Velimira Dimitrova, BULGARIAN PROPERTIES — Mon, 18 Jul 2011 00:00:00 GMT

In today’s competitive property market it is essential for a property listing to stand out in some way or other so that the result would be a happy seller and a content buyer. There are a number of marketing techniques real estate agencies use to promote their listings – some of them more direct than others, but their main aim is to grab the attention of the potential buyer and keep it.As a potential property seller you can discuss all the possible marketing channels with your real estate agent, as it is real estate agencies that are one step ahead of the market trends that offer a full package of services to their clients and always look for ways of adding new methods to advertise their product.Here are some of the main marketing strategies and techniques which leading real estate agencies employ to show off their products:The high-tech era we live in determines the website of the

Factors That Devalue A Good Home

investopedia.com — Wed, 18 May 2011 00:00:00 GMT

If you're considering selling your home, there are a number of factors you should consider regarding the resale value of your property. Some of these issues may devalue your home or scare some potential buyers away entirely, even if your home is an otherwise outstanding property! Consider these eight factors when listing your home.1. Location, Location, LocationMany real estate television shows repeat this phrase over and over. Buying a home in an area that provides residents with access to services and effective transportation is important - though many buyers don't wish to live too close to airports and busy roads for fear of noise.Visual appeal is another concern. Cell phone towers and power lines can be seen as eyesores - or possibly even having potential health hazards. Local school closures can also deter potential buyers who have children or who are considering having children in

Overview of the Bulgarian Real Estate Market for 2000-2010

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Fri, 18 Mar 2011 00:00:00 GMT

With the end of the first decade of the new century BULGARIAN PROPERTIES drew up the first of its kind for Bulgaria analysis of the property market for the period 2000-2010. The research is based on the data of the National Statistical Institute (NSI), it being the most comprehensive existing statistics of property prices. This information is relative only to residential properties – apartments in regional cities around the country. Even though it doesn’t include holiday properties, rural houses, plots of land and commercial properties it is comprehensive enough to show the main market trends and the directions in which the market developed. The housing fund data and the issued building permits also come from the NSI and the data about the number of sales come from the Registry Agency. The main highlights of the analysis are as follows:• Accumulated nominal increase of average

Apartment Rental Market in Sofia and Varna in 2010

BULGARIAN PROPERTIES — Fri, 28 Jan 2011 00:00:00 GMT

According to data of BULGARIAN PROPERTIES and its subsidiary LUXIMOTI the rental market of apartments decreased in terms of the number of concluded deals by about 23% compared to 2009. The rentals make up 30% of the total number of deals while in 2009 they made up almost 50% of all the deals. On the one hand, the decreased share of rental deals is due to the increased number of sales in 2010 and to a smaller activity on the part of lessors, on the other. SofiaThe luxury rental segment in Sofia in 2010 was marked by decreased interest, which also led to a drop in the number of concluded rental deals by 18% compared to 2009. This also led to an average decrease of 20% in rental prices – from 790 Euro per calendar month for an apartment in 2009 to 620 Euro in 2010. The most expensive apartments rented out in 2010 cost about 1,600 Euro per calendar month and the most expensive houses –

There Are Rural Houses in Bulgaria for as Low as 3,000 Euro

Chernomorski Far Newspaper, Bourgas, vol. 6, 11.01.11 — Fri, 14 Jan 2011 00:00:00 GMT

There are many rural properties in the area of Bourgas but the supply has decreased as their prices fell drastically compared to 2008. There are houses sold for less than 10,000 Euro in almost all regions of the country as in some areas these properties are the majority, experts from company BULGARIAN PROPERTIES say. Houses for less than 5,000 Euro are in a bad condition but have big yards and they are the main focus of attention.The cheapest rural houses are in villages which are depopulated and are not attractive to Bulgarians. For example, there is a house sold for 3,408 Euro in the village of Belevren, Bourgas region. The price was reduced by 32% only a couple of days ago, its old price being 5,000 Euro.Naturally, the houses located near the sea and in villages closer to the city of Bourgas are more expensive. View all our rural house offersView all our properties for sale and rent

There’s Not Much Interest in Business Offers Over 1 Mln Euro

Banker newspaper, vol.1, 08.01.11 — Tue, 11 Jan 2011 00:00:00 GMT

Nikola Stoyanov is the managing partner and co-founder of the real estate agency BULGARIAN PROPERTIES. He is also the managing director of the newest addition to the group – the company for business consulting, mergers and acquisitions BusinessForSale.BG, which was founded in 2009.Mr. Stoyanov, how does the number of business offers for sale change during a crisis and what has the trend been in the last few months?- Since the founding of BusinessForSale.BG we cannot report drastic changes in this segment. There is dynamics in connection with the increased number of new businesses put up for sale. In the last few months we are witnessing an increased number of enquiries from potential buyers. There is definitely interest in the companies we offer for sale but for now the interests of buyers and sellers when it comes to price do not meet.Is there any change in the size and the prices of

Analysis of the Businesses Market in Bulgaria

BusinessForSale.BG — Wed, 15 Dec 2010 00:00:00 GMT

BusinessForSale.BG is a subsidiary of BULGARIAN PROPERTIES and a consultancy company dealing in the field of mergers and acquisitions of businesses and companies in Bulgaria. The brand was created in 2009 and is already gaining speed. A year and a half after BusinessForSale.BG was founded our company cannot report any drastic changes in this segment of the market. There is more activity with regards to the increased number of new businesses offered for sale. In the last few months there is also an increase in the number of enquiries from potential clients. There definitely is interest in the companies we offer for sale but for buyers and sellers cannot agree mostly on the asking price. BusinessForSale.BG helps company owners not only sell their business but also find partners or co-financing. The main trend in 2010 was more offers for sale or partnership in a business in Bulgaria, as

European Standard for the Work of Real Estate Agencies and Agents in Bulgaria

BULGARIAN PROPERTIES — Tue, 07 Dec 2010 00:00:00 GMT

The introduction of a European Standard for the Work of Real Estate Agencies and Agents is already a fact in Bulgaria. And although the standard, which was published by the Bulgarian Institute for Standardization, is recommendatory it will regulate the relations in the sector.The European Standard is very detailed as it defines the role and obligations of the real estate agent and also of the client, the buyer and the seller. One of the sections of the document describes the client relations management as this is unique for the Bulgarian real estate sector. This section specifies what information the buyer and seller must receive as clients, what the agreement between client and agent should contain, conflict of interests, etc.Another important part of the Standard is the regulation of provision of services, but probably the post important section is the one about the qualifications and

The Concept of Luxury Property is Flexible

stroitelstvoimoti.com, 1.11.2010 — Tue, 09 Nov 2010 00:00:00 GMT

Nikola Stoyanov - Managing Director of BULGARIAN PROPERTIES' subsidiary luxury real estate agency LUXIMOTI - gave an interview for Stroitelstvo Imoti weekly and discussed whether there are already truly luxurious properties in Bulgaria and what their features are.- Mr. Stoyanov, are the luxury properties in Bulgaria luxurious?- Let’s put it this way – in Bulgaria there are already many luxurious properties which are constructed with materials and installations of the highest quality and are furnished to the highest standard, at the same time having unique locations and features. Still, the properties in this category are not many. The reason for that is that they started being built a couple of years before the global crunch hit the market. As a whole the supply of these properties is small and does not exceed demand. That is also the reason prices of luxury properties to remain more

Sofia Residential Properties with Slight Price Increase in 3Q 2010

Sega Daily, 25.10.10 — Wed, 27 Oct 2010 00:00:00 GMT

There is a very slight price drop in residential properties in Bulgaria in the third quarter of 2010, the Bulgarian National Statistical Institute (NSI) reports and in some cities like capital Sofia there is even a slight increase in apartment prices. Statistics shows that compared to the previous quarter the prices on which deals are concluded have decreased insignificantly by 1.2%. Apartment prices have decreased by 6% on an annual basis, NSI data reads.In the third quarter of the year Sofia, which lately was behind Varna when it came to property prices, is once again the leader. According to statistics at present a square meter in Sofia costs 1,592 BGN, which is an increase of 2.2% compared to the previous quarter. Residential properties in the city of Varna have decreased with the same percentage going down to 1,557 BGN per sq.m. Third is the city of Bourgas with 1,164 BGN.According

10 Common First-Time Homebuyer Mistakes

www.investopedia.com — Thu, 21 Oct 2010 00:00:00 GMT

Shopping for a home is exciting, exhausting and a little bit scary. In the end, your aim is to end up with a home you love at a price you can afford. Unfortunately, many people make mistakes the prevent them from achieving this simple dream. Arm yourself with these tips to get the most out of your purchase and avoid making 10 of the most costly mistakes that could put a hold on that sold sign. 1. Not Knowing What You Can Afford What the bank says you can afford and what you know you can afford or are comfortable with paying are not necessarily the same. If you don't already have a budget, make a list of all your monthly expenses (excluding rent), including vehicle costs, student loan payments, credit card payments, groceries, health insurance, retirement savings and so on. Don't forget major expenses that only occur once a year, like any insurance premiums you pay annually or annual

2010 – Restart Year for the Bulgarian Property Market

www.klassa.bg — Wed, 13 Oct 2010 00:00:00 GMT

2010 is turning out to be the restart year for the Bulgarian property market as there has been no significant change in the number of deals, in the prices of sold properties or in the listed properties compared to 2009. This is what the analysis of company BULGARIAN PROPERTIES for the third quarter of 2010 shows. The reaching of a balance and stability has been like a breath of fresh air to all players on the market. According to the data average asking prices for apartments have decreased by 18% as the greatest drop is to be found with one-bed apartments and maisonettes – 20% and the smallest price drop is for the smallest and biggest flats. For houses the average price decrease is 22%, for land – 26%, for offices – 28% and for shops – 30%. The number of deals in the capital in Sofia has increased compared to the summer in 2009. The average prices based on actual concluded

Demand for Apartments from 20,000-40,000 EUR at the Seaside

profit.bg, 13.10.2010 — Wed, 13 Oct 2010 00:00:00 GMT

Property sales in the summer resorts usually go up in the summer. This year there was a 20% increase in the number of property deals along the northern and southern Black Sea coast compared to summer 2009, BULGARIAN PROPERTIES reported for Profit.bg. Apartments priced between 20,000 and 40,000 Euro are the most sought ones. Buyers continue to be indecisive and view many properties before choosing, which means that deals are concluded only after a lengthy research.The average price of the apartments sold in the last 3 months in the area of the resort of Sunny Beach is 38,000 euro. The average price of the sold apartments is 510 EUR/sq.m., as prices vary between 370 and 770 EUR/sq.m. Apartments close to Sunny beach and those that are unfurnished fall into the lower price category while those priced above 500 EUR/sq.m. are fully finished and furnished apartments in the resort. This data

Property Prices Hit Bottom

Politika Daily, vol.336, 01.10.10 — Fri, 01 Oct 2010 00:00:00 GMT

After the dynamic correction of properties’ asking prices in the second half of 2009 the discounts in the asking prices in 2010 are minimal, shows the analysis of real estate company BULGARIAN PROPERTIES.Most of the new offers for sale come to the market at their actual market prices. This shows that there is a complete cycle of price decrease which started at the end of 2008 and continued for about a year and a half, the company comments. According to the data the share of the discounted offers in the country at the end of September 2010 is 24% of all active offers on the sites of BULGARIAN PROPERTIES and LUXIMOTI.For comparison – in the beginning of 2010 this percent was 18, i.e. there is an increase of only about 6% in the number of discounted offers for the first 9 months of 2010. It is mainly prices of properties which were overpriced in view of the current market conditions

Bulgarian Property Prices Falling

www.intasure.com — Thu, 09 Sep 2010 00:00:00 GMT

New figures have revealed that the cost of property in Bulgaria is falling. Property prices in Bulgaria are falling, especially in the capital Sofia, it has been revealed.The news, which comes from Colliers International research, may interest prospective holiday home insurance customers looking to invest in cheap property in eastern Europe.According to the organisation, some boroughs in Sofia have seen price decreases of up to 19 per cent compared to last year.With the sterling performing well against the Bulgarian lev, the opportunity for a property investment may seem even more attractive to Brits.Data from Primelocation showed that Bulgaria was one of the most searched-for countries by UK nationals.The Post Office has reminded any Brits looking to invest in Bulgarian property to ensure they send regular payments to cover the cost of their mortgage and bills.Low-cost airline Ryanair

The Property Market Is Similar to That in 2009

Imam Imot Magazine, September 2010 — Tue, 07 Sep 2010 00:00:00 GMT

Imam Imot magazine published an article about the Bulgarian property market in the summer. According to some of the property experts the market is slightly more dynamic compared to previous months. The data of the Registry Agency show an increase in the number of sales in the second quarter of 2010 compared to the first – from about 28,000 to over 40,000. However, the volume of these deals is less compared to the same periods in 2009.Here is how Polina Stoykova – the Chief Operations Manager of BULGARIAN PROPERTIES – answered the questions of Imam Imot:1. How did the property market develop in the traditionally strongest summer months? Is there an increase in the number of deals compared to the first months of 2010 (both for sales and rents)?After the very dynamic March and April and after the collapse in the number of deals in May the sales in June, July and August returned to

BULGARIAN PROPERTIES' Chief Operations Manager for TV7: There is Already No Difference Between Asking Price and Deal Price

BULGARIAN PROPERTIES — Mon, 23 Aug 2010 00:00:00 GMT

A report broadcasted in the news of Bulgarian TV7 channel on August 8th 2010 comments that according to real estate brokers in Bulgaria property prices will remain stable, but there is a possibility of another decrease at the end of the year. The direction in which the market will go depends on when the country’s economy will start recovering. For now there aren’t many buyers but those with ready cash are more confident due to the low property prices at the moment. The beach property and rural house market is also active in the summer as a lot of foreigners are also interested in those segments. The prices of these types of properties are stable and are expected to remain so until the end of the year, but there is a chance for another price decrease, experts say. According to Polina Stoykova – the Chief Operations Manager of BULGARIAN PROPERTIES, in March and April 2010 there were

The Dynamic Agricultural Land Market in Bulgaria

stroitelstvoimoti.com, 02.08.2010 — Tue, 03 Aug 2010 00:00:00 GMT

The agricultural land market in Bulgaria is special and it is harder to summarize it because of the different quality and category of the land. According to the data of the real estate company BULGARIAN PROPERTIES prices of agricultural land in Bulgaria dropped by an average of 30% in 2009 and the demand in 2009 fell by about 50% compared to 2008. “If in 2008 average prices of sold agricultural land were about 350 BGN/decare in 2009 they were already sold at about 250 BGN/decare. The active participants on the market withdrew and the number of deals dropped significantly. The only exception from the general statistics is the big and grouped plots of land – their prices didn’t decrease as the supply is limited and the demand is stable. These are plots of land over 100,000 sq.m. which are arable,” comments Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES. According

Categories of Agricultural Land in Bulgaria

BULGARIAN PROPERTIES — Mon, 02 Aug 2010 00:00:00 GMT

When trading with agricultural land in Bulgaria the category of the land is always noted but not everyone knows what this category actually means. Agricultural land in Bulgaria falls into 10 categories (so called land productivity categories) according to the fertility of the soils, the climatic conditions, the relief and the land’s technological qualities, its suitability for producing different kinds of plants and the imposed limitations for the land’s use. The higher the grading, the better and more versatile the agricultural land is.The ten arable land categories are defined as per the assessment of specific soil-climatic conditions in relation to the land’s suitability for growing a specific set of crops. According to the division of agricultural land in Bulgaria the land placed in the first and second category is of the highest quality which gradually decreases as you reach

Hotel headache

Eurobuild Magazine, July 2010 — Mon, 19 Jul 2010 00:00:00 GMT

Last year, some of the most attractive tourist regions of Southern Europe, such as Cyprus, Greece and Croatia, suffered 10-35 pet declines in revenues from tourism. According to Bulgarian hoteliers, last summer's season on the Black Sea wasn't much better. Even Al-Waleedbin Talal, the Saudi Arabian prince who topped the list of the world's richest Arabs not such a long time ago, was beset with financial problems. In order to save his fast-diminishing fortune (estimated at USD 13 bin), the prince had to wave goodbye to several luxury hotels in his portfolio, including the best known of these - The Fairmont Raffles Hotel International in Singapore.Time to take a rain checkHotels owners in Bulgaria now find themselves in an unenviable situation. After a few years of growth, the burgeoning Bulgarian economy has slammed hard on the brakes, with the property market being the first to suffer.

The Money Is in Properties Abroad

www.realnews.gr — Tue, 08 Jun 2010 00:00:00 GMT

Mr. Dimitrios Tourikis Director of Bulgarian Properties Hellas says: “At this moment due to the global financial crisis the prices of properties in Bulgaria have dropped by up to 40% which in fact is a tremendous investment opportunity with zero risk and future attractive returns”.Supporting his position he also says “Today you cannot find cheaper properties in any other European country and like we all know Bulgaria has been an EU member since 2007 and the currency (Leva) is pegged to the Euro (1.95). One Euro buys almost 2 Leva”.It is important to note that most of the investors are middle-class citizens, more often public officials. Greek investors are also focusing their attention on Bansko for two reasons: firstly, for the attractive pricing and secondly, for the short distance from Athens (about 6 hours). The same source notes that prices of one-bedroom flats in Bansko

Eight Reasons Why Property Prices in Bulgaria Won’t Fall (much) More

profit.bg — Wed, 02 Jun 2010 00:00:00 GMT

1. Clear signs of “unfreezing” of bank lendingIt is not by chance that we are starting with this factor. It is exactly the difficult bank lending conditions that led to the decrease of property prices (which were unreasonably high anyway). The banks got a considerable and expensive resource which must justify its price. Of course, we will not witness another lending frenzy which is another factor that led to the property price balloon. Lending will also help normalize the business, including the building sector, it will decrease the lay-offs and the unemployment rate, and will increase consumption. 2. Decrease of interest ratesThe decrease of the interest rates of mortgage loans is a natural process of bank “unfreezing”. We should mention that currently interest rates of mortgage loans are at levels similar to those in 2006, before the property boom. The decrease of interest

Low Risk Investment Proposals

Dimitrios Tourikis, Director of Bulgarian Properties Hellas, for SFINA newspaper — Mon, 31 May 2010 00:00:00 GMT

“More and more Greeks are running to invest their capital in emerging markets like neighboring Bulgaria”, says Mr. Dimitrios Tourikis Director of Bulgarian Properties Hellas. He continues to explain “Specifically Bansko is the first preference of Greek investors for two reasons: firstly, for the attractive pricing and secondly, for the short distance from Athens (about 6 hours). At this moment due to the global financial crisis the prices in Bulgaria have dropped by up to 40% which in fact is a tremendous investment opportunity with zero risk and future attractive returns. In our days you cannot find cheaper properties in any other European country and like we all know Bulgaria has been an EU member since 2007 and the currency (Leva) is pegged to the Euro (1.95).One Euro buys almost 2 Leva.Furthermore, the management of the properties bought (with a net return of 6-8%) is creating

After-Sales Services and the Crisis

Imotat Magazine, vol.6, June 2010 — Thu, 27 May 2010 00:00:00 GMT

The purchase of a property is probably the most important investment a person does in their life. It is especially important for Bulgarians and this is backed up by the fact that Bulgaria is in one of the first places in Europe in terms of owned properties. But do we know how to look after our property? Of course, the answer would be “yes, though it takes me a lot of effort and time to deal with the neighbors, the lessors, the administration, but this is just part of the everyday life”. But may be it is not part of the everyday life but we have turned it into such.Property management is a profession which has existed in a number of European countries for decades. When the Bulgarian property market was going through its peak period property management appeared here as well. This happened thanks to the thousands of British, Irish, German and other foreigners who mostly due to the low

No Interest in Investing in Hotels

Cherno More, Varna, vol.109, 18.05.10, excerpts — Tue, 25 May 2010 00:00:00 GMT

It is very quiet in the new market niche – that of sale of hotels. The supply of this type of properties increased after the number of tourists to Bulgaria decreased and the prices of accommodation and services dropped as a result of the crisis. Despite the optimistic forecasts for season 2010 the situation was not very good in the first quarter of the year, at some periods even showing worst results compared to last year.At present all hotels are for sale if there is interest on the part of investors, commented experts from BusinessForSale.bg, part of the BULGARIAN PROPERTIES holding. According to local real estate agents what is specific about the Varna real estate market is that most hotel owners do not announce their sale officially. They are afraid that the information about the sale of the hotel might have a negative effect on the staff, which is insufficient anyway. The fact

We Are Ready for the Recovery Challenges

www.stroitelstvoimoti.com — Wed, 19 May 2010 00:00:00 GMT

Polina Stoykova – Chief Operations Manager of BULGARIAN PROPERTIES – commented before Stroitelstvo Imoti weekly the sobering of the property market, the new market conditions and the challenges after the beginning of the global crunch. The property market was one of the first that were hit by the crisis at the end of 2008 and in the last year and a half the real estate agencies have been working in these conditions. Part of these agencies closed down, others changed fundamentally their style of work and managed to withstand the pressure. If before the crisis even mediocre efforts led to sales and good financial results the present conditions require tripled efforts for achieving a positive result. Mediocre work leads to companies leaving the market. Those who want to survive must make great efforts. If a while ago it took 5 viewing trips to sign a deal now it takes 20-30 viewing

The Activity on the Market Is Increasing

Imam Imot Magazine, vol.5, May 2010 — Fri, 14 May 2010 00:00:00 GMT

Property buyers recovered from the initial shock and are now trying to take advantage of the decreased prices. Meanwhile, the banks, though slightly, loosened the credit conditions. The change immediately reflected on the market causing it to become more dynamic. This stir is still unnoticeable in some segments. But the interest of potential investors and buyers is returning. Imam Imot magazine asked some of the leading real estate agencies to analyze the present market conditions and share their forecasts for the forthcoming months. Here is how Polina Stoykova – the Chief Operations Manager of BULGARIAN PROPERTIES – answered these questions. 1. What are the main trends in the first four months of the year? What is typical for the different market segments? What are your forecasts for the next few months?The first quarter of 2010 was relatively successful for the property market in

Will property prices in Bulgaria increase by the end of 2010?

profit.bg — Mon, 10 May 2010 00:00:00 GMT

Will property prices in Bulgaria increase by the end of 2010 and if so what towns and cities should we focus our attention on? Where should we buy real estate so that our investment is profitable?Our team asked property experts the question In which Bulgarian cities will property prices increase by the end of 2010?According to BULGARIAN PROPERTIES “property prices will not increase by the end of 2010”.“We are still witnessing a process of price reduction which in some regions and for some property types is coming to an end. When the real estate market hits the price bottom we expect the demand and the number of deals to increase and not property prices.Only after that can we talk of a gradual increase of prices that is commeasurable with the GNP growth upon a favourable development of the country’s economy. The property market is directly linked to the economy – for now the

Looking for a property for up to 500 EUR/sq.m.?

profit.bg — Mon, 10 May 2010 00:00:00 GMT

You are planning to buy a property but the maximum price you are set to pay is 500-600 EUR/sq.m.? Well, you can already find such properties and proof for that is the information provided by property agency BULGARIAN PROPERTIES. “Buyers can find apartments for under 500 EUR/sq.m. mainly in the Bulgarian seaside and ski resorts”, said Polina Stoykova, the Chief Operations Manager of BULGARIAN PROPERTIES. “There are already many finished developments where the owners lowered the prices considerably in the last year or so and prices there start from just 350 EUR/sq.m. For example, apartments in a development in Bansko with issued Certificate of Habitation, unfurnished, set about 1.5 km from the Gondola can be bought at prices from 490 EUR/sq.m.”, added Ms Stoykova.There are similar offers in the seaside resorts of Balchik and Sunny Beach. “Apartments in Balchik – again fully

The Interest in Bulgarian Rural Properties Increases

profit.bg, 02.05.10 — Tue, 04 May 2010 00:00:00 GMT

There is high interest in Bulgarian rural properties – especially on the part of foreign buyers. This is what Polina Stoykova – the Chief Operations Manager of BULGARIAN PROPERTIES – told profit.bg. “Buyers look for houses at prices up to 10,000 Euro. Prices of rural houses dropped by over 50% in the course of one year and this stirred the buyers’ interest”, added Ms. Stoykova. According to her “it is very important for the Bulgarian government to consider the canceling of the limitation according to which foreigners cannot own land as physical persons, especially when it is for a house with a garden or for an apartment with ideal parts of the land”.”At present foreign property buyers must register a Bulgarian limited liability company in order to buy a property which is sold with land”, Polina Stoykova said.Ms. Stoykova’s opinion is that the “rural property

Property Buyers Becoming More Active

Banker, vol.17, 01.05.10 — Tue, 04 May 2010 00:00:00 GMT

Lately, Bulgarian real estate agencies signal about more property enquiries and an increased interest in properties on the part of buyers. In April property agents in the three big regions in the country – Sofia, Varna and Bourgas – received an average of 18% more calls and enquiries from potential real estate buyers. However, sales still take a long time to conclude and buyers and sellers who don’t have to pay off loans are taking their time. With regard to the potential market participants they have not changed significantly in the first quarter of 2010. The most interesting is the group of those who did not buy a property during the price peak of 2007-2008 although they had the resources. They chose to keep their money in banks or in high liquidity financial instruments and now are in the best position to take advantage of the low real estate prices. These people are expected to

Decrease in Garage Demand, Unsold Parking Spaces in New Buildings

BULGARIAN PROPERTIES — Fri, 23 Apr 2010 00:00:00 GMT

There are quite a few unsold parking spaces in the new buildings mostly because buyers have decided to save this additional expense, commented real estate company BULGARIAN PROPERTIES. Meanwhile, there is no supply of apartments with a bonus parking space. And when we are talking about a sum that equals that of a full set of furniture for an apartment people chose the furnishing to the parking place, experts from the agency explained. According to the company’s data the prices of parking spaces in common parking lots in the buildings start from 7,000 Euro and prices of individual garages with an exit to the street can reach 15-20,000 Euro. However, there are no deals with such garages at the moment. What predominate are the purchases of parking places in common parking lots. The demand of garages and parking lots has decreased compared to the levels before the crisis and now buyers buy

The British Are Willing to Reduce Asking Prices

Fri, 23 Apr 2010 00:00:00 GMT

In an article in Pari Daily from April 22nd 2010 entitled The British Are Selling Their Properties on a Mass Scale BULGARIAN PROPERTIES' Chief Operations Manager Polina Stoykova comments that the British are selling their properties to Bulgarians and to buyers from other nationalities.Ms. Stoykova, is there a trend showing an increase in the age of Russian property buyers in Bulgaria, as Russian agencies have been writing in their analyses?At present most Russian buyers are between the ages of 50 and 60. They buy properties in Bulgaria before retiring planning to come to the country after retiring during vacations or for a longer period. Russian buyers look mainly for cheaper properties. Most of them do not fall in the category of “the wealthy Russian” though there are such as well, but fewer. Many Russians are sentimental when choosing Bulgaria to buy a property. They buy because of

Property Prices in Sofia and Varna Remain Stable in 1Q 2010

imoti.investor.bg, 08.04.2010 — Mon, 12 Apr 2010 00:00:00 GMT

“Relatively successful” - this is how real estate agency BULGARIAN PROPERTIES describe the first quarter of 2010. According to company data the average activity on the market was about 40% higher compared to the same period in 2009 – the most difficult period on the property market in Bulgaria. Property sales in January and February 2010 remained the same as those in the second half of 2009. However, March brought higher activity on the market and the number of deals reached a record high since the beginning of the crisis and a growth of 50% compared to the average monthly levels in the last 10 months, the agency informed. The more dynamic market in March was mainly connected to properties in regions around the country some of which had registered almost no deals in the last few months. The activity on the market of city properties in Sofia and Varna remains unchanged compared to

Record Months on the Bulgarian Property Market since the Beginning of the Crisis

profit.bg, 9.04.2010 — Mon, 12 Apr 2010 00:00:00 GMT

The first quarter of 2010 was relatively successful for the real estate market in Bulgaria as the average activity on the market was about 40% higher compared to the same period in 2009 – the most difficult period on the property market in Bulgaria. Property sales in January and February 2010 remained the same as those in the second half of 2009, shows an analysis of company BULGARIAN PROPERTIES for the first quarter of 2010. March brought higher activity on the market and the number of deals reached a record high since the beginning of the crisis and a growth of 50% compared to the average monthly levels in the last 10 months. The more dynamic market in March was mainly connected to properties in regions around the country some of which had registered almost no deals in the last few months. The activity on the market of city properties in Sofia and Varna remains unchanged compared to

Property Prices Fell by 20% in 14 Months

Imam Imot Magazine, March 2010 — Tue, 09 Mar 2010 00:00:00 GMT

The average decrease of property prices on the site of BULGARIAN PROPERTIES is 20% as the price decrease varies between 5 and 60%. The reported decrease in the prices of the actual concluded deals of BULGARIAN PROPERTIES for 2009 compared to 2008 is 36%, i.e. there is still a discrepancy of about 15% between the offer prices and the prices at which the deals are actually concluded. The additional discounts from the offer prices from June 2009 up to now vary between 4 and 7%. A total of 18% of the active offers on the BULGARIAN PROPERTIES site are with discounted prices. For comparison in June 2009 the properties in this section made up only 5% of the active offers in our company. This means that for a little more than half a year we have a threefold growth of the number of discounted properties. A large part of the new offers should also be added to this section as they are published at

Supply and Demand Define Property Prices

Imam Imot Magazine, March 2010 — Tue, 09 Mar 2010 00:00:00 GMT

The actual price of a property is defined by the supply and demand. However, it is only an expert that can give the most accurate assessment. Imam Imot Magazine asked a few questions on the topic which BULGARIAN PROPERITES’ Chief Operations Manager answered thus:- Can it already be said that the prices at which deals are concluded in Bulgaria are getting closer to the actual value of properties? The last research of BULGARIAN PROPERTIES based on actual offers and concluded deals shows that there is still discrepancy between the offer prices and the prices at which deals are concluded. This discrepancy varies between 5 and 15% for the different regions and property types. Based on the offer prices on the BULGARIAN PROPERTIES site property prices have decreased by 20% around the country on an annual basis. Meanwhile, the average price decrease based on actual concluded deals in 2009

Property Insurance Prices in Bulgaria

BULGARIAN PROPERTIES — Mon, 08 Mar 2010 00:00:00 GMT

On February 26th 2010 BULGARIAN PROPERTIES once again received an award in the Property Insurance category at the annual competition of one of the biggest insurance companies in Bulgaria - Allianz. BULGARIAN PROPERTIES' insurance expert Galya Zlatanova was there to accept the award on behalf of the company.Our insurance experts at BULGARIAN PROPERTIES will help you find the best insurance product for your needs, will take care of the renewal of the insurance policies and will provide assistance in case of an occurrence of an insured event. Besides insurance of immovable property, we also offer all other types of insurance. We advise property buyers to consult an insurance expert to assist them in choosing the insurance product for their property and to present to them the best price offer.The insurance premium is defined on the basis of the insurance company tariffs and depends on the

Assess the Situation before Buying a Shop

BULGARIAN PROPERTIES — Fri, 05 Mar 2010 00:00:00 GMT

The crisis left empty shops even on high streets in the big cities. However, apart from the lower income of the traders it also provides good opportunities that have to be used as best as possible. The period is suitable both for buying a shop – because it is a good investment in the big city – and for renting a new shop - bigger and with better location. Here are the tips of BULGARIAN PROPERTIES for buying and renting a shop:• Do you really need a new shop? Buy or rent only if you really need a new shop and only if you can afford it. If you are planning to move shop by renting a better one assess carefully whether you have clients at your present location who accumulate most of your income who might not follow you to your new location. If you are planning to expand your activities draw up a strategy and carefully assess your potential for managing additional activities and the

Modern Residential Building above the Marina in Balchik to Be Finished Soon

stroitelstvoimoti.com, 22.02.2010 — Thu, 25 Feb 2010 00:00:00 GMT

The realization of the project Balchik Bay Apartments is at its final stage. The development is being built in one of the most romantic towns along the Black Sea coast – the town of Balchik. Balchik Bay Apartments is situated on an elevated position, just above the yacht port, providing amazing views of the sea. Right in the neighborhood is one of the first golf courses designed by the world-famous golfer Ian Woosnam. The attractive position of Balchik Bay Apartments is complemented by the peace and tranquility of the region and the easy access to the town facilities and the beach. The architectural project is the work of Architect Elena Ivanova and the builder and investor in the modern holiday development is the company Granit-91 Ltd. The total built-up area of the development is 1,500 sq.m. It includes 19 apartments and studios, all overlooking the sea. The living area of the

Did the Border Blockades Prevent Greek Tourists and Property Buyers from Coming to Bulgaria?

investor.bg, 16.02.2010 — Tue, 16 Feb 2010 00:00:00 GMT

Sales agents report an increase in the activity of Greek holiday home buyers in Bansko in January, but it seems the blockades on the Bulgarian-Greek border (which started on January 18th) have affected the interest of Greek property buyers. The share of Greek buyers of real estate agency BULGARIAN PROPERTIES make up 5% from all foreign buyers in 2009 and in January 2010 their share increased to 8%. They buy property mainly in the ski resort of Bansko, as the deals in other regions are mostly exceptions – rural houses, plots of land, rental of apartments in Sofia. According to data from the company’s representatives in Athens, Greece and of the head office the enquiries since the end of January have definitely decreased and no viewing trips have been made with Greek clients in Bansko and around the country in February. It cannot be said for sure whether only the blockade is to blame

To Rent or to Buy

Imam Imot Magazine, vol.2, February 2010 — Fri, 12 Feb 2010 00:00:00 GMT

Has the time come when more and more people in Bulgaria will prefer to rent a property than to pay big mortgage installments? At first glance we might be embracing this practice which has long been the case in many of the developed countries. Last year the ratio between the number of rental and sale property deals is 70 to 30. But still 2009 was the year of the peak of the economic crisis, the property sector was hit hardest and the number of concluded deals decreased drastically – by up to 50%. In the smaller towns the market was at a complete standstill, there was some activity in the big cities, mainly in Sofia and Varna. That is why for now sales agents are cautious in predicting whether there is a change coming in favor of renting – also a result of the more dynamic life we lead and people’s bigger mobility. You rent if you don’t have saved money and security for your

Offer Prices of Bulgarian Properties Falling

Pari Daily, vol. 27, 10.02.10 — Wed, 10 Feb 2010 00:00:00 GMT

Property owners are decreasing the prices of their properties so they can sell them. After New Year the number of our offers with discounted prices is even higher than that of our new offers, said for Pari Daily Polina Stoykova, the Chief Operations Manager of BULGARIAN PROPERTIES. A total of 18% of the active offers on the BULGARIAN PROPERTIES site are with discounted prices. For comparison in June 2009 the properties in this section made up only 5% of the active offers in our company, Ms Stoykova added. This means that for a little more than half a year we have an almost fourfold growth of the number of discounted properties. A large part of the new offers should also be added to this section as they are published at a lower price as the market demands it, said Polina Stoykova. The average decrease of the prices around the country is 20%. For Sofia it is 17%, for Varna – 14%, for

Now is the time to invest in a property in Bulgaria

Victoria Mindova, GRReporter, 28.01.2010 — Fri, 05 Feb 2010 00:00:00 GMT

Dimitris Tourikis is the regional manager of the company Bulgarian Properties, and Helen Varvaritis is the marketing director, responsible for drawing up marketing strategies to attract foreign investors in the Bulgarian real estate market. They are young, smart and energetic investment advisors, who talk to Victoria Mindova for their activities and impressions of Bulgaria as a whole. Tell us how did you decide to enter the Bulgarian real estate market? Dimitris: We have not been on the market for long. We started our cooperation with Bulgarian Properties in the summer of 2009. We chose Bulgaria after two years of studying the investment opportunities in countries of the Balkan Peninsula. The analysis showed that there is a high ROI (return on investment) in Bulgarian real estate, which gives great profit opportunities. What did you do before you open a branch of Bulgarian Properties

28,000 Euro for a One-Bedroom Flat in Bansko with Security and Parking

Veto Newspaper, Greece — Thu, 04 Feb 2010 00:00:00 GMT

The last few months have seen many sales for Mr Dimitrios Tourikis, Director of the Bulgarian Properties Hellas office. As it seems, Bulgarian property offers are promoting transnational real estate investment as a new business, which is maturing in Greece. More and more Greeks, scared of the financial crisis, are investing their savings in emerging markets such as neighboring resort of Bansko.‘Since the summer we have been selling about two properties a month. The starting price is from 699 Euro per square meter. We can find apartments of 45 sq. meter from 28,000 Euro in the organized complex Belmont Club, and in Belvedere Holiday Club from 38,000 Euro’, says Mr Tourikis.Furthermore, these complexes are not just ordinary blocks of flats but super modern units with 24/7 security, car parking spaces, comforts such as spa, restaurants and bars.According to Mr Tourikis, the purchase and

Huge Rise in Sales in the Winter Destination of Bansko

Ethnos newspaper, Greece — Wed, 03 Feb 2010 00:00:00 GMT

More and more Greeks are rushing to invest their money in the emerging markets in neighbouring Bulgaria. In particular, Bansko is the Greek investor’s number one choice for two main reasons: firstly, because of the low prices (one-bedroom apartment costs as low as 28,000 Euro) and secondly, because of the short distance to Athens (a 6-hour trip). The Director of Bulgarian Properties Hellas (Athens office) Mr. Dimitrios Tourikis emphasizes that now due to the global economic crisis property prices in Bulgaria have dropped by up to 30%, which provides a huge investment opportunity, with zero risk and long-term capital growth. These days you can’t find cheaper property anywhere else in the European Union and as we all know Bulgaria is a member of the European Union and its currency is locked to the Euro at a rate of 1.95 BGN for 1 EUR. Moreover, because Bulgarian Properties handles the

Case Study: “I’ve bought a rural property that needs doing up”

A Place in the Sun Magazine, January 2010 — Fri, 29 Jan 2010 00:00:00 GMT

A case study published in the A Place in the Sun Magazine: Recently retired (but still making violin and bow cases), Richard Pickles, from Leeds, completed on a village house in Bulgaria at the end of last year.“My property is a two-storey villa located in a small village in the rural outskirts of Sofia, approximately 25 minutes’ drive from the city centre and about 45 kilometres from the airport.“It is situated on a 1,015-squaremetre plot of land, which is currently overgrown but at one time was planted with fruit trees.“Inside, the property has no amenities whatsoever, except for mains electricity. So currently it is undergoing a complete refurbishment, both inside and out. That includes the installation of a kitchen, bathrooms and so on, as well as outside installation and rendering.“The property consists of four bedrooms – two with terraces, two shower rooms, a

A Place in the Sun: Now is a great time to snap up a beach, ski or even country pad in Bulgaria

A Place in the Sun Magazine, January 2010 — Thu, 28 Jan 2010 00:00:00 GMT

Well, what a difference a couple of years makes! In the final months of 2007 Bulgaria was topping Knight Frank's Global House Price Index with annual growth of 33 percent. But in the final throes of 2009, they were fourth from the bottom, with prices dropping 28 per cent within a year.The fall has been rapid and dramatic, not so much driven by the country's credit problem - its lending culture has yet to evolve - but by the fallout of the global economic crisis, coupled with an oversupply of properties in an emerging market.As the British buyers melted away, and the Eurozone went into recession, Bulgaria felt the hit belatedly and in 2009 vendors still refused to accept the boom was over. However, forced to face reality, prices are being lowered by up to 50 percent in former hotspots such as Sunny Beach and Bansko where values are now EUR 300-400 (GBP 273-384) per square metre.As always,

Did Prices of Ski Resort Properties Reach Their Best Levels

www.tbmagazine.net — Mon, 25 Jan 2010 00:00:00 GMT

Polina Stoykova - the Chief Operations Manager of BULGARIAN PROPERTIES, analyses the property market in Bulgaria's biggest ski resorts in 2009 and gives forecasts for 2010. Undoubtedly, the interest in the ski resorts in Bulgaria increases and when nature also adds to one’s snowy mood then you can surely imagine yourself sitting in a cozy apartment with a fireplace and a view towards the ski slope…But let’s see what is actually happening with ski properties in Bulgaria.In the last year prices in the three biggest ski resorts in Bulgaria – Bansko, Pamporovo and Borovets decreased with different rates. The greatest price decrease is in Bansko as the construction of new developments was biggest there and the competition is bigger. In the resorts of Pamporovo and Borovets prices also fell since the beginning of the crisis but not as much as in Bansko. The price decrease there is

Average Property Prices Down by 36% in 2009

profit.bg, 20.01.2010 — Mon, 25 Jan 2010 00:00:00 GMT

The average prices of properties in Bulgaria fell by 36% in 2009 year-on-year, an analysis of BULGARIAN PROPERTIES shows. “The number of deals in 2009 decreased by 40% and investors postponed the purchasing of real estate and focused their attention to the search for bargain deals,” comments Polina Stoykova, the company’s Chief Operations Manager. The real estate market follows directly the country’s economic development and when the economy starts coming out of the crisis the real estate market will start recovering as well. As a large part of the property deals are concluded with financing from outside sources – foreign buyers, Bulgarians living abroad, etc. it is possible that the recovery of the property market will outpace the real economic recovery by a few months, BULGARIAN PROPERTIES add.We are to expect at least six more months of correction of the market prices and of

Prices of Bansko Apartments with Over 40% Decrease in 2009

investor.bg, 20.01.2010 — Mon, 25 Jan 2010 00:00:00 GMT

The average prices of the apartments sold in the resort of Bansko in 2009 is 38,700 Euro compared to the 66,000 Euro in 2008 the result being a 41% decrease on an annual basis, the data from BULGARIAN PROPERTIES’ annual property report shows. The data is based on the company’s concluded deals with Bulgarian and foreign clients. Therefore, one can find a holiday home in Bansko at a good price – about 650 Euro/sq.m. on average. From the end of 2009 the resort of Pamporovo also offers prices from 500 Euro/sq.m. while the prices in Borovets have not decreased by more than 10-15% to an average of 1,400 Euro/sq.m. Due to the low interest in both resorts and the lack of actual deals in 2009 it is difficult to make a comparison to 2008, the company adds.Seaside ResortsThe average price of the purchased apartments in the southern Black Sea resorts in 2009 was 50,000 Euro while in 2008 it

Properties from Times Old

Dessislava Popova, investor.bg, 15.01.2010 — Mon, 18 Jan 2010 00:00:00 GMT

Traditionally, the limited supply of properties for sale in settlements with architectural reserve status has also limited the decrease in their prices compared to the general trends on the property market, a research of Investor.bg shows. The crisis is felt mainly in the increase in the number of properties put up for sale and in the longer period for concluding a deal. Still, there is a limited number of offers for this type of property and as a whole the price reduction is quite differentiated and small. Discounts are also more difficult to achieve but they depend on how urgently the owner wants to sell the property, comment from company Address. The common thing about all properties for sale in villages that are architectural reserves is that there is no obvious fall in their prices and price discounts are achieved mainly after negotiations with serious buyers (most often the

The Demand Defines the Market

Imam Imot Magazine, January 2010 — Tue, 12 Jan 2010 00:00:00 GMT

It is true that the demand defines the market. However, according to Ilian Nikolov the demographic issues will be among the main reasons for the lack of demand. “2.5 million Bulgarians are pensioners – they are not property buyers but property owners. Where should we import people from – Moldova or Macedonia? People here must have good income and buy property. It is a financial injection for the market. Russians buy in Varna, Greeks buy in Bansko. What about in the other places?” asks the RE/Max Regional Director.There is an increase in the number of deals with British buyers, says optimistically Mihail Chobanov – the Chief Executive Officer of company Bulgarian Properties. “Bulgarian Properties was an active participant on the market when a number of rural properties were purchased by foreigners. All the money that was received was invested exactly on a demographical

32% Decrease in Varna Property Prices

Novinite Dnes Daily, 11.01.2010 — Tue, 12 Jan 2010 00:00:00 GMT

3:1 is the ratio of rents to sales for the region of Varna in the last year, data of company BULGARIAN PROPERTIES show. Rental prices have decreased by 32 percent to an average of 290 Euro for an apartment in December 2009, compared to the 430 Euros in the same month in 2008. In the beginning of January 2010 prices are similar to those in December 2009. During the summer prices were about 450-500 Euro while now the prices are about 300 Euro and it is Bulgarians who are the main clients on the market, company experts say. The period in the beginning of 2009 was characterized with the demand of more luxurious apartments to be used by foreign managers and businessmen. Regarding sales brokers say the market was at a standstill until mid 2009 and sales took up only 11% of the company’s concluded deals, the rest being rental deals. In the second half of 2009 residential sales in Varna

Mihail Chobanov: Every One of Us Writes 100 E-mails a Day

Imam Imot Magazine, December 2009 — Tue, 22 Dec 2009 00:00:00 GMT

- Mr. Chobanov, at the moment which brings more money to the company – the sales, the consultancy business or the company’s other activities?- Right now it is very difficult to say where the income comes from because generally speaking in the last year the number of deals is quite low. Every month is different, it is nothing like the previous one. If we look at our statistics for the last few years we can see that there is always a peak in the sales in October. After that in November and December there is a calm which usually remains until the end of January. The only exception was in December 2006 – before Bulgaria’s accession to the EU. Then the British went mad and we had a record number of deals in the history of our company. But traditionally November and December are always the weakest months in terms of sales. The curve is as follows: in June-July-August-September-October

BULGARIAN PROPERTIES - the tireless

Imam Imot Magazine, December 2009 — Mon, 14 Dec 2009 00:00:00 GMT

If you ever had to deal with all the requirements of Bulgarian law and administration for the purchase, repair and maintenance of a property then you probably know that this is not an easy thing. Now imagine that there is a company that can save you the time you would lose in going from an office to office.No, there’s no catch. It is a fact that there are already companies in Bulgaria which you can trust and be sure that the property you will own will be exactly as you imagined it. It will be checked by lawyers so that you will be sure of your ownership, it will be furnished to your wishes and will be kept in an excellent condition. And if it is a holiday property and you do not use it all year round then it can also bring you money by being rented out, once again without you bothering with tenants and payment of the bills. This is what I call a job well done, someone fed up with

Russians and Vulture Funds Main Buyers of Businesses in Bulgaria

dnevnik.bg — Thu, 10 Dec 2009 00:00:00 GMT

Russians and vulture funds listed on the US and London stock exchange are the main buyers of troubled Bulgarian companies, said Nikola Stoyanov, managing director of Bulgarian portal www.businessforsale.bg. The portal is owned by property company BULGARIAN PROPERTIES.Russian buyers are mostly shopping for light industry companies and hotels. They are looking for textile and furniture plants to move their production to and export to the EU, Stoyanov explained. Deals have already been done with Russian investors. Vulture funds are mostly interested in stressed assets, applying aggressive methods to buy at enormously undervalued prices, Nikola Stoyanov comments. Instead of paying cash, they usually opt for paying off banking debts and offering the owner a premium in the form of shares in the fund that could be sold on the stock exchange. The main focus is the hotel industry, which was hurt

Ford Moto-Pfohe’s Executive Director Elected in UEFA Marketing Division

BULGARIAN PROPERTIES — Wed, 09 Dec 2009 00:00:00 GMT

Atanas Fournadzhiev is the Executive Director of Ford Moto-Pfohe, member of the Board of Directors of the Varna-based Pfohe Mall and Manager of KP Immobilien, owner of the Belvedere Holiday Club set in Bulgaria’s premier winter resort of Bansko. For more than a decade now Mr. Fournadzhiev has also been dedicated to the development of the Bulgarian football. He started his career in the Bulgarian Football Union (BFU) as a member and chairman of the Disciplinary Committee. At the last congress he was elected Vice-President and member of the Executive Committee. Recently Mr. Fournadzhiev’s high level of professionalism was recognized by UEFA. He was elected as a member of UEFA’s Marketing Division whose Chairman is Frantisek Laurinec from Slovakia. Borislav Mihaylov will be First Vice-President of UEFA’s Refereeing Division; the Chairman of the Division is Angel Maria Villar from

Promotional Properties

Imam Imot Magazine, November-December 2009, excerpt — Mon, 16 Nov 2009 00:00:00 GMT

The great supply of properties at discounted prices – this is what everyone who has decided to buy a new home in the last few months can see. Even at a passing glance of the offers of the various real estate agencies one will see the crossed out old prices and the new offers of the sellers written next to them. The difference in the prices sometimes reaches as much as 60% depending on the property. For some of them it is 2,000 Euros but for others it reaches a few hundred thousand Euros. There is significant price decrease both for residential properties which are in the process of being built and for luxuriously finished houses and residential buildings. Of course, the reasons for the mass “promotions” are the low property demand due to the crisis and the still limited bank lending in the sector. The choice of properties is so big that anyone with cash can negotiate a property for

Sellers Already Openly Reduce Offer Prices of Properties

Imam Imot Magazine, November-December 2009 — Wed, 11 Nov 2009 00:00:00 GMT

Polina Stoykova, the Chief Operations Manager of BULGARIAN PROPERTIES, comments the current situation on the real estate market: - Ms. Stoykova, can it be said that sellers already openly offer their properties at lower prices and not only after a bargain with a potential buyer? - Since May 2009 sellers decrease the prices of their offers more openly as now they understand that prices have really fallen. This was once again confirmed by the National Statistics Institute – according to them the average decrease of property prices in 2009 is 28% compared to the peak prices in the period August-October 2008. The trend of property price decrease can also be traced from the weekly Latest Ads bulletins of Bulgarian Properties where apart from the newly-published offers there is also a section with offers whose prices have been reduced during the week. In the last 2 months the number of

BULGARIAN PROPERTIES’ Advice to Companies When Buying and Renting Offices

BULGARIAN PROPERTIES — Tue, 27 Oct 2009 00:00:00 GMT

At present there is a wide choice of offices and trade areas in the big cities around Bulgaria. Now is the right time for buyers and lessees of offices as they have a great variety to choose from and can use their strong position to negotiate with the sellers and lessors in order to get the best possible price. Therefore, BULGARIAN PROPERTIES’ office and trade areas specialists think that the situation on the market is suitable for investing in a business property or for renting a more luxurious property at a good price. Although we always follow the individual needs and requirements of our clients here are some pieces of advice that can be used as guidelines by all those interested in buying or renting an office: 1. Use the crisis as best as possible. A crisis on the real estate market does not happen often and it brings with it very good possibilities for property investments

The Elite Property Segment Will Be the First to Recover

BULGARIAN PROPERTIES — Tue, 27 Oct 2009 00:00:00 GMT

The luxury property segment followed the general market trend towards a drastic decrease in the number of concluded deals. Meanwhile, the prices of elite properties remained relatively stable as the decrease didn’t exceed 20% compared to the 30-40% decrease in the prices of properties in the general segment. The decrease in the prices in the luxury holiday property segment is slightly higher while in the so-called unique property segment the prices remain stable but there are almost no deals. According to Nikola Stoyanov - the Managing Director of the luxury property brand of BULGARIAN PROPERTIES - LUXIMOTI the reason for the lower number of deals is not the price. “Clients do not buy because of the stress and anxiety that have come to dominate their everyday life. In other words, even if prices fall by 20-30% this will not make the market more dynamic and increase considerably the

Rentals of Cheap Offices in Sofia Fall to EUR 3 per sq.m.

Pari Daily, 09.10.2009 — Tue, 20 Oct 2009 00:00:00 GMT

Office rents in the low price segment in Sofia have fallen to EUR 3 per sqm. for unfurnished offices. To 8 Euros per sq.m. have decreased the rental prices of furnished offices in Class B in Lozenets residential area, around Cherni Vrah Blvd., Tsarigradsko Chaussee Blvd, Bulgaria Blvd. and small streets in the center. This is what shows analysis of BULGARIAN PROPERTIES. Price DiscountsPrice reductions are large, ranging from 11 to 45 percent. Price levels for this type of office ranged between 7 and 10 EUR per sq. m. until early in 2009 , and the average price decline in the offer prices varies between 20 and 40%. Highest real interest is to lower price range of offices 4-7 EUR price per sq.m., and rental agreements are reached with even further reductions in prices. Luxury In the offices of class A and those with an ideal central location prices vary widely from 8 EUR per sq. m to 26

Beauty Salons and Restaurants - The Most Demanded Business Properties

dnevnik.bg, 7.10.2009 — Tue, 20 Oct 2009 00:00:00 GMT

In times of crisis, the most sought after on the market for commercial properties are beauty salons, SPA centers, bars and restaurants. This is what shows a survey conducted by "BULGARIAN PROPERTIES". The reason for this is that these businesses are not so much affected by the crisis and have higher returns, said Polina Stoykova, Chief Operations Manager of the real estate agency. Supply of such properties is much lower than this of other business properties and such properties don't stay long long on the market, the study found. Offers of spas, gyms and beauty salons are very few and the owners are rarely willing to make reductions in prices. Demand is mainly for equipped beauty salons to purchase or rent. The investors who look for bars and restaurants are very active and when a good offer appears for rent it often goes very quickly. The reason is that rents are offered at

Properties in Bulgaria 2009: Decreased Prices Lead to Increased Affordability

B2B Turkish Trader Magazine, October/November 2009 — Wed, 07 Oct 2009 00:00:00 GMT

Resume: Polina Stoykova is the Chief Operations Manager of BULGARIAN PROPERTIES - the leading real estate agency in Bulgaria serving local and foreign property buyers from around the world. Polina has extensive experience and knowledge about the Bulgarian property market, acquired through years of practice and constant research based on empiric market data.After very dynamic 5 years for the Bulgarian property market, the global financial crisis brought difficult times in 2009. The number of completed deals in has since fallen with 40% on average compared to 2008.However, there is good news and it is that the prices of the properties in Bulgaria have now fallen to levels of year 2005 and it is really a good time to buy properties. It can be any type of property – vacation, city, rural, commercial, land and others. The property market now characterizes with huge supply, wide variety of

Quality Properties in Bulgarian Ski Resorts with Very Lucrative Prices

Analysis of BULGARIAN PROPERTIES — Mon, 05 Oct 2009 00:00:00 GMT

In the last few months buyers have been showing increased interest in holiday properties in the big ski resorts in Bulgaria. However, the greatest interest is in the ski resort of Bansko and it is the place with the most concluded deals with holiday properties. The main reason for that is the decrease in the price of this type of properties which were the first to be hit by the crisis, as with some properties the price discount is as high as fifty percent and prices returned to their levels from 2005. At present, this type of properties is more accessible to buyers – not only to foreigners, but to Bulgarians as well. Another reason for the market segment to become more dynamic is the approaching of the winter season which inevitably increases the interest in mountain resorts and holiday homes.The statistics of BULGARIAN PROPERTIES shows that buyer enquiries are mainly for ski

Ski Properties in Bulgaria with Up to 50% Discount

Dimitar Lyubenov, Novinite Dnes — Fri, 02 Oct 2009 00:00:00 GMT

Prices of holiday properties in the big mountain resorts around Bulgaria returned to their levels from 2005, as for some properties the discount is as high as 50% year-on-year. The average price of Bansko apartments is 640 Euro/sq.m., the data of Bulgarian Properties shows based on actual concluded deals during the period May-September 2009. “The apartments are the most sought-after property type in the resort because their prices are more affordable and this type of property can easily be managed and rented out to receive additional income”, said Polina Stoykova – Chief Operations Manager of Bulgarian Properties, for NOVINITE DNES newspaper. Currently, apartments in the resort can be found at prices between 300 Euro/sq.m. and 1,200 Euro/sq.m. According to the experts the most sought after apartments are sold at prices between 450 Euro/sq.m. and 600 Euro/sq.m. and in the more