NEWS INDEX

Is there optimism on the Bulgarian real estate market

Human Capital, 01.02.2012 — Fri, 03 Feb 2012 00:00:00 GMT

Last year prices of properties in Bulgaria fell by an average of 8% year-on-year. This is what the market analysis of Bulgarian Properties shows. To compare, the average price drop in 2010 was 8.3% and in 2009 – 36%. Thus the decrease of real estate prices in Bulgaria is gradually slowing down and real estate agencies hope it will stop this year. At the same time the number of concluded deals around the country has increased by about 15% compared to 2010, the data of Bulgarian Properties shows.In 2011 the average prices buyers paid for an apartment in the big cities around the country was between 20,000 and 60,000 Euro.Property prices in the resortsThe real estate agency note the interesting fact that only in the beach resort of Sveti Vlas properties have retained relatively high prices, even during the crisis. Prices there have not fallen under 1,000 EUR/sq.m. in the last 3 years and

Life beyond the ring road

аfter an article in Trud Daily, 01.02.12 — Wed, 01 Feb 2012 00:00:00 GMT

The Ring Road is not only a trade mark of the capital Sofia. More and more people in the big cities around the country identify a perimeter in which they would like to live. But the have some conditions – to have fast access to the city’s downtown, to the amenities and to their workplace. The trend to migrate to areas around the city is a recent one in Bulgaria. With the reconstruction of parts of Sofia’s Ring Road the access to the settlements beyond it has become faster and easier. The expansion of the underground network in the capital is another factor. If there are convenient parking lots and good transportation links the villages around the city become very attractive. According to specialists in the sector property buyers are already looking for a new lifestyle. The overdevelopment in the capital, especially in the southern regions, is not that attractive anymore. It is true

Sofia Voted Best City to Live in 2011

Trud Daily, 31.01.2012, excerpt — Tue, 31 Jan 2012 00:00:00 GMT

Bulgaria’s capital Sofia was voted The Best City to Live in Bulgaria for 2011. This is what the fifth annual ranking of 24 Chasa Daily and Darik Radio showed. Bourgas was voted the best place to live in the country in 2010 and last year it was voted the best city only in the internet ranking of 24 Chasa Daily.All 27 regional cities took part in the competition, as this is Sofia’s second win, the first one being in 2009. “This is normal as a lot of people around the country want to come to live in Sofia. Because for a person to have a good living standard they have to receive a good salary as well”, commented Sofia Mayor Yordanka Fandakova. The cities are ranked as per 28 criteria, as there are two new ones introduced this year. Apart from the online results what are also taken into consideration in the final ranking are the special questionnaires filled in by the correspondents

Annual analysis of the Bulgarian real estate market: optimism and more deals on the background of a continuing property price drop

Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES — Mon, 30 Jan 2012 00:00:00 GMT

The economic recovery and the economic growth that started at the end of 2010 brought optimism and helped the Bulgarian real estate market make the first tentative steps towards a recovery from the crisis in the first half of 2011. This was backed up by the slowdown of the price decrease, the increase in the number of property deals and the lower interest rates under mortgage loans. According to data of BULGARIAN PROPERTIES the property price drop based on actual concluded deals continued well into 2011 and this drop was an average of 8% year-on-year. To compare, the average property price drop the company reported in 2010 was 8.3% and in 2009 – 36%. 2011 in numbers:• 8% average decrease of prices of residential properties* in the country compared to 2010 • 15% increase in the number of concluded deals with properties around the country compared to 2010• 10% decrease of prices of

Apartment prices in regional cities with minimal change in 4Q 2011

BULGARIAN PROPERTIES based on NSI data — Wed, 25 Jan 2012 00:00:00 GMT

The latest data of the Bulgarian National Statistical Institute (NSI) for prices of apartments in the regional cities in the country in 4Q 2011 shows that prices have remained similar to those in 3Q 2011. The average price decrease is 1.5%, as property prices in the towns of Montana (-8.27%) and Pernik (-6.91%) have dropped the most. What is typical for the second half of 2011 is the slowdown in the pace of decrease of apartment prices around the country to an average of 1-1.5% on a quarterly basis. On an annual basis (compared to 4Q 2010) prices of apartments in the regional cities dropped by an average of 6.2% which is almost the same as the annual drop reported in 3Q 2011. The real decrease of prices of apartments after inflation (calculated with the Harmonized Index of Consumer Prices HICP) is 2% compared to the previous quarter and 8.5% year-on-year (compared to the same quarter in

Office rental prices in Sofia with highest drop in Europe

Mediapool.bg, 17.01.12 — Wed, 18 Jan 2012 00:00:00 GMT

Rental prices of first-class offices in the capital Sofia have registered the biggest drop in Europe. This is what a report from consultancy company CB Richard Ellis shows, as it includes 53 European cities. Rental prices of offices in Sofia have decreased by 7.1% in the last quarter of 2011 year-on-year. Compared to the previous quarter the drop is 3.7% which is also the highest decrease on the continent. Rental prices in the highest segment of the office market in Sofia were an average of 13 Euro/sq.m. per month in 4Q 2011. The profitability in the sector shrunk by 65 basis points in one year to 9.35%. Drops in rental prices of offices have also been registered in some regions of Croatia, Ireland, the Netherlands, Portugal, Spain and in Edinburgh (UK). Prices of industrial properties in Sofia have also decreased last year, as their rental prices fell by 11.1% year-on-year. The average

Property prices in Bulgaria drop by 5-10% in 2011

bTV news, 07.01.2012 — Tue, 10 Jan 2012 00:00:00 GMT

In a news report about what happened on the Bulgarian property market in 2011 private national TV station bTV asked the opinions of real estate agents, one of which is the Chief Operations Manager of BULGARIAN PROPERTIES Polina Stoykova.According to the data of BULGARIAN PROPERTIES last year property prices in the country dropped between 5 and 10% compared to 2010. The company data shows that while in 2010 the asking price per square meter in the capital Sofia was 1,100 Euro in 2011 it was already about 920 Euro. The price drop in the Black Sea city of Varna is similar. At the end of 2011 prices of properties in Bourgas dropped to 860 EUR/sq.m. and in Plovdiv – to about 770 EUR/sq.m.Properties in Bansko register biggest price dropReal estate agents in Bansko define the condition of the property market in the resort as being in a standstill. According to BULGARIAN PROPERTIES’ data in

Overview of the Bulgarian real estate market in 2011 and forecast for 2012

Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES — Fri, 06 Jan 2012 00:00:00 GMT

The end of the third quarter of 2011 marked 3 years since the beginning of the global financial and economic crisis. Regretfully, 3 years after the beginning of the crisis there are still no convincing signals showing the recovery of the economy and real estate market not only in Bulgaria but in most countries around the world. After the optimism and the forecasted economic growth which marked the end of 2010 and the beginning of 2011, in the last few months the sovereign debt crisis in Europe and the lowered credit ratings of a number of countries and big European and global banks led to a slowdown in the pace of economic recovery. 2011 was loaded with great expectations for the property market’s coming out of the crisis, but unfortunately not all of them came true as this depends not only the pace of recovery of Bulgaria’s economy and the internal processes in the country but it is

Properties in Bulgaria remain in state of weightlessness

Trud Daily, 04.01.12, p.20+21, excerpt — Thu, 05 Jan 2012 00:00:00 GMT

Relatively few deals on the property market – similar to the previous year, possibly a slow but steady price drop and demand for cheaper homes. This is what real estate agents in Bulgaria forecast for 2012. Specific forecasts are difficult to make, says Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES. According to her this is due to the insecurity connected to the sovereign debt crisis and Europe’s future. It looks like 2012 will be a tough year and both the economies and the markets will face quite a few challenges. According to the company’s data in the last few months the property market has maintained a relatively stable volume of deals, similar to the same periods in 2010. The changes in property prices are minimal. This means the market has set at “crisis levels” which are stable for now.It is possible that in 2012 property prices will continue to be in

BULGARIAN PROPERTIES Gave Its 2011 Annual In-house Awards

BULGARIAN PROPERTIES — Fri, 23 Dec 2011 00:00:00 GMT

BULGARIAN PROPERTIES gave its traditional annual in-house awards for achievements during the year. The ceremony took place during the company’s Christmas dinner on December 20th in Sofia. Here are part of the awarded offices in the different categories:• The 2011 Highest Number of Property Sales prize was awarded to the Bourgas Office. It was presented to its Regional managers Tsvetan Petrakiev and Dinko Slavov. After some tough years and considerable decrease in the number of deals in the region, in 2011 Bourgas Office managed to reclaim their leader position. • The 2011 Highest Number of Rentals award was given to the Rental Office in Sofia which once again managed to overcome the tough competition of the Varna Office. • The 2011 Most Expensive Apartment Sale award was given to Nevena Todorova from the Residential and Commercial Office Sofia for a sale of a luxury apartment in

What happened on the Bulgarian real estate market in 2011

Human Capital, 20.12.2011, excerpt — Fri, 23 Dec 2011 00:00:00 GMT

The real estate market in Bulgaria in 2011 remained relatively stable, the managers of the largest real estate agencies in the country say. Property prices fell. The most sought after homes in Sofia were for about 50,000 euro, the experts add. At the same time the interest in offices and industrial areas decreased and rental levels in this sector dropped drastically. The most dynamic segment on the property market in 2011 was the agricultural land sector. Also in 2011 quite a few people living in the cities bought rural houses. The most active buyers this year were the young families, all large real estate agencies agree. The agricultural land sector was the most dynamic Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES This year the focus was on buying cheaper properties, which people feel more certain they can afford. This means the following: apartments in Sofia for up

Prices of homes in Sofia down by 40% since 2008

Capital Daily, vol.39, 22.12.11, extract — Thu, 22 Dec 2011 00:00:00 GMT

The asking prices of apartments in Sofia dropped by over 40% since their peak in 2008, the analysis of BULGARIAN PROPERTIES shows. For the country the property price decrease is between 5 and 10%, estate agents say. The biggest price fall in 2011 is registered for holiday properties in Bansko – 25%. Contrary to the price drops, the Registry Agency reports that the number of housing deals has increased by almost 30%. Average property prices in SofiaIn January the average asking price per sq.m. of a home in the capital Sofia was 930 euro, while in November it was already 863 euro, BULGARIAN PROPERTIES say. The average price at which deals are concluded with apartments in Sofia is between 700 and 750 EUR/sq.m. – there is almost no change compared to the third quarter of the year, the company’s Chief Operations Manager Polina Stoykova pointed out. She stated that in the last few months

Bansko opens 2011/2012 ski season

BULGARIAN PROPERTIES and BulgariaSki.com — Mon, 19 Dec 2011 00:00:00 GMT

On December 17th Bansko – the winter capital of the Balkan Peninsula – officially opened the new 2011/2012 ski season. Some of the official guests at the event were the Bulgarian ski legend Petar Popangelov and Bansko’s honorary citizen - Marc Girardelli. The legend Marc Girardelli was the first to try the ski slope. The five time World cup champion was content with the terrain and said that he expects a lot of surprises and good results during the next few months. ”I am glad that I am here to open the competition year in Bansko. The conditions are just perfect, and I am sure that everything will be perfectly organized as usual. We expect high records during the two starts of the World cup, which will be held in the resort”, he said. He also added that it is a real honour for Bulgaria to host competition of such rank.In February 2012 Bansko will host a round of the Alpine

Moody's: Bulgaria’s credit perspective is positive

BULGARIAN PROPERTIES — Wed, 14 Dec 2011 00:00:00 GMT

Bulgaria’s credit perspective is positive, say Moody’s Investors Service. This is due to the resilient growth and further fiscal tightening. Moody’s credit outlook analysts Kristin Lindow and Renzo Merino point out that the tight fiscal policy stance of the Bulgarian government led to the country having the only sovereign rating upgrade in the European Union since the global crisis began in 2007.“Continued positive growth, as well as fiscal consolidation measures, will help Bulgaria remain one of the very few low debt countries in Europe,” the analysts said.In July Moody’s raised Bulgaria’s rating to Baa2, the second-lowest investment grade.Earlier Moody’s confirmed it will most probably review its assessments of the Eurozone and EU countries in the first quarter of 2012 due to the lack of undertaken measures for tackling the crisis. At the summit last week the member

BULGARIAN PROPERTIES presented in property portal homes.bg

BULGARIAN PROPERTIES — Fri, 02 Dec 2011 00:00:00 GMT

BULGARIAN PROPERTIES is a Bulgarian real estate agency with offices around the country. The company has 80 employees and 15 offices and works in all segments of the real estate market. It offers the full range of additional services related to the buying or renting of apartments, houses, holiday homes, land, offices, commercial areas, investment projects and many more. Apart from the bigger cities, towns and resorts the company also has representatives abroad and a developed network of partners around the world. Since its founding in 2003 the company has been focusing on two things – offering a wide choice of quality offers and providing all sales-related services. What makes BULGARIAN PROPERTIES stand out is the company’s long experience and detailed knowledge of the Bulgarian real estate market combined with excellent client servicing. The company’s organizational structure and

Bulgarian property among most preferred property destinations for Brits

themovechannel.com — Thu, 24 Nov 2011 00:00:00 GMT

Bulgaria remains in the Top 10 of the most preferred property destinations on the British market, the ranking of The Move Channel shows. Although the interest in the Bulgarian property market on the part of British buyers decreased slightly in October its share was 2.77% of all enquiries made to the site last month. This puts Bulgaria in 9th place, which is a drop of three positions compared to September. To compare, Bulgaria ranked seventh with 3.3% of all enquiries in July when the country returned to the Top 10 after more than three years. The Bulgarian market marked a sharp increase in the number of enquiries in September, when it ranked sixth with 5% of all enquiries. In October Spain continues to be the most attractive foreign property destination for Brits. It received just over 18% of all enquiries. It is followed by the USA, France, Portugal and Italy. View all our holiday homes

You must re-register your company in Bulgaria by end of 2011

www.rightmove.co.uk — Mon, 14 Nov 2011 00:00:00 GMT

Anyone who bought in Bulgaria before 2008 and by setting up a company could be in danger of losing their property if they haven’t re-registered their company by the end of the year.All companies set up in Bulgaria before 2008 are required by law to have been re-registered on the country’s new online Trade register by the end of this year. Not doing so could lead to the liquidation of the company and dissolving of its assets, including the Bulgarian property. Foreigners can only buy land in Bulgaria by setting up a company, something many British people have done. While many foreign property-owners have followed the government guidelines, many still haven’t and time is running out. Warned Polina Stoykova at agent Bulgarian Properties: “We have been promoting this for more than two years now and still a big part of the British property-buyers who have companies in Bulgaria

Deadline for Re-registration of Bulgarian Companies Is December 31st 2011

BULGARIAN PROPERTIES Head Office — Thu, 10 Nov 2011 00:00:00 GMT

The Law on the Trade Register applicable to the activities of all Bulgarian companies, which came into force on 1.01.2008, states that all existing companies must be registered in the new online register by 31.12.2011. If this is not done, they will be removed from the register of companies in Bulgaria resulting in loss of their assets (including properties). After 31.12.2011 the companies that are not reregistered as per the requirements of the Trade Register will not be allowed to sell their properties. So, if you have a company in Bulgaria, IT IS VERY IMPORTANT to organise your company registration on the online Trade Register as soon as possible. Our lawyers will be ready to help you go through the whole process and act on your behalf.Contact us to start the processHere is more information about the procedures:You can start the registration process either when you come to Bulgaria or

The rural property market in Bulgaria: More deals with higher quality rural houses

Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES — Tue, 08 Nov 2011 00:00:00 GMT

The number of deals with rural properties in 3Q 2011 remains the same as in the previous two quarters of the year so there are no significant changes in this market segment. The only difference is in the average price of the concluded deals which in the last three months is 20,450 Euro while in the first and second quarters of the year it was between 16,000 and 17,000 Euro. The difference in the prices comes from the more deals with higher quality rural houses that are ready to live in, mostly located close to the sea (near Bourgas and Varna) and close to the big cities of Plovdiv, Stara Zagora and Veliko Tarnovo. The purchased houses are priced between 15,000 and 45,000 Euro. The cheapest sold houses are in the area of Yambol and Elhovo where the average price is about 10,000 Euro but there are also offers for as low as 5,000 Euro. The main buyers of rural houses – like with holiday

Promotion of Property Insurance for Natural Persons

BULGARIAN PROPERTIES — Thu, 03 Nov 2011 00:00:00 GMT

BULGARIAN PROPERTIES and its partner - the leading insurance company Allianz Bulgaria offer a special insurance promotion for physical persons. The period of the offer is from 01.11.2011 until 03.02.2012. The promotion includes a discount of up to 45% of the standard company tariff for the Dwellings and Household insurance.In addition to the promotion of the Dwellings and Household product clients will also receive a 30% discount under the Burglary insurance.The subject-matter of the Dwellings and Household is movable and immovable property owned by or under the responsibility of physical persons. Read more about the promotion---Copyright: 2011 Bulgarian Properties Ltd. All rights reserved. For further information or advice please contact us on tel.: +359 2 9 11 50 or e-mail: info@bulgarianproperties.com. The use of this article by third parties is allowed only with proper quotations of

Bulgaria's Budget Deficit Down 46% in Q1-Q3 2011

www.novinite.com, 1.11.2011, excerpt — Wed, 02 Nov 2011 00:00:00 GMT

Bulgaria's budget deficit has declined by 46% in the first three quarters of 2011 year-on-year, according to latest data of the Finance Ministry.Thus, in January-September 2011 Bulgaria accrued a deficit of BGN 826 M compared with BGN 1.51 B (a decline of BGN 692 M) in the same period of 2010.In the first three-quarters of the current year, Bulgaria's national budget has accrued a deficit of BGN 483 M, while Bulgaria's EU transactions deficit (i.e. the country's contribution to the EU budget minus the absorbed EU funds) amounts to BGN 387.7 M.In September alone, Bulgaria's monthly budget deficit was BGN 94.9 M, which is an increase compared with the BGN 11 M of deficit in August as well as with the BGN 18.9 M surplus in September 2010.Bulgaria's state budget income as of September 30, 2011, amounted to BGN 18.35 B, or 70.0% of the annual projection, which is a 5.7% increase (BGN 997.7 M

Sofia 17th most desired European capital for property deals

BULGARIAN PROPERTIES — Mon, 31 Oct 2011 00:00:00 GMT

Bulgaria’s capital – Sofia – is the 17th most preferred place for buying real estate among the other European capitals, residential property investor’s site Global Property Guide writes. According to the ranking the gross rental yield in Sofia is 4.74% which compared to the other European capitals is a relatively high figure. According to the site among Sofia’s advantages is the pro-landlord tenant market, while the disadvantages include the high transaction costs and the not so excellent rental yields at the moment. Global Property Guide’s long term investment rating is based on factors like gross rental yield, income tax, capital gains tax, potential landlord and tenant problems, long-term GDP growth, affordability, etc. View all our residential properties for sale and rent in SofiaRead about the real estate market in Sofia in 3Q 2011

The real estate market in Sofia in 3Q 2011

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Thu, 27 Oct 2011 00:00:00 GMT

The property market in the capital Sofia was one of the first local markets in Bulgaria to react to the trend of an increase in sales as early as in the beginning of 2011. After the strong start of the year we witnessed a slowdown in sales during the summer months and although the concluded deals were more compared to the same period last year this growth was very small, based on BULGARIAN PROPERTIES’ concluded deals. Meanwhile, the demand for property in Sofia changed. While in the first half of the year there was more demand and concluded deals both with high-end properties priced at about and over 100,000 Euro and with cheap properties, in the last quarter the demand was focused mainly on smaller and cheaper homes priced up to 50,000 Euro. There were rare deals for properties between 50,000 and 80,000 Euro and there were almost no deals for properties over 80,000 Euro. This means

Drop of apartment prices in regional cities slows down to 0.8% in 3Q 2011

Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES — Tue, 25 Oct 2011 00:00:00 GMT

The latest data for apartment prices in the regional cities in Bulgaria, announced by the National Statistical Institute (NSI), shows that property prices continue to fall in the 3Q 2011, but that the drop is slowing down compared to previous periods.Average prices of apartments in the regional cities in Bulgaria have dropped by 0.84% compared to the previous quarter and by 6.1% compared to the third quarter of 2010. This makes the last quarter one of the periods with the least drop in apartment prices since the beginning of the crisis. According to NSI data the average price of an apartment in the regional cities in the country is 460 EUR/sq.m.The real decrease of prices of apartments after inflation (calculated with the Harmonized Index of Consumer Prices HICP) is 0.95% compared to the previous quarter and 8.92% year-on-year (compared to the same quarter in 2010). For Sofia the nominal

460 Euro.sq/m. for a ski apartment in Bulgaria

Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES — Thu, 20 Oct 2011 00:00:00 GMT

Polina Stoykova – Chief Operations Manager of BULGARIAN PROPERTIES, talks about the real estate market in Bulgaria’s ski resorts on the morning show of Bulgaria On Air TV on 14.10.2011.Prices of holiday homesIn the last 6 months the average price of furnished apartments in functioning holiday developments in Bansko – properties that are ready to use and rent out – is 460 Euro/sq.m. This price is calculated on the basis of actually concluded deals by BULGARIAN PROEPRTIES, comments Ms Stoykova. This price is 50 percent less compared to the years before the crisis when prices topped 1,000 Euro/sq.m. Since this spring prices of apartments for sale in Bansko fell by about 10% compared to previous months, as this is yet another price drop registered in the last few years. Regretfully, most of the owners of ski apartments in the biggest winter resort in Bulgaria – Bansko, saw their

Data of the Registry Agency on the Volume of Property Deals in 3Q 2011

Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES — Tue, 18 Oct 2011 00:00:00 GMT

At the end of last week the Registry Agency announced its data of the number of property deals around Bulgaria for the previous quarter of 2011. The data shows that the number of realized property sales continues to increase year-on-year while their pace has slowed down compared to the previous quarter. The annual increase in sales for the 3Q is 17% while in the 2Q the market had a record growth of 48% year-on-year.Real estate sales in the regional cities have also slowed down their pace – their numbers have increased by 8% in the 3Q 2011 on the background of a 40% growth in the 2Q, year-on-year. Property deals in Sofia dropped by 19% compared to last year. In the Black Sea city of Varna deal volumes are similar to those for the same period in 2010, while in the cities of Bourgas and Plovdiv there is an increase of 8.5% and 12% respectively. Another interesting observation is that

NSI population and housing census data: Number of homes in Bulgaria increased by 5.4% in the last decade

Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES — Fri, 14 Oct 2011 00:00:00 GMT

At the beginning of the last quarter the Bulgarian National Statistical Institute (NSI) published the final data of the population and housing census that took place in early 2011. This is an overview of the data showing the interrelations between the demographic trends, the real estate market and the quality of the housing stock. The main highlights of the analysis of the data are as follows:- population decline in Bulgaria- increase in the housing stock- improvement in the quality of the properties and the public utility access in the homes- the property market is returning to the fundamental demographic factorsPopulation and housing stockAccording to census data the population in Bulgaria has declined by 7% and the number of homes in the country has increased by 5.4% compared to the 2001 census – from 3,688,802 homes in 2001 to 3,887,076 in 2011. Even here there is a discrepancy

Rental prices of offices in Bulgaria continue to fall

Sega Daily, vol.233, 13.10.11 — Thu, 13 Oct 2011 00:00:00 GMT

Experts report of yet another month of decrease in prices of offices in Bulgaria. In 3Q 2011 rental rates in the new office buildings in Sofia dropped by 3.6% compared to the previous quarter. This means Bulgaria tops the list of office price drop in Europe, a research of CB Richard Ellis consultants shows. The price drop is even bigger year-on-year – 5.26%, the research shows. Experts explain the decrease in rental levels with the big supply of office areas against the backdrop of lower demand. According to Colliers International in the first half of the year Sofia ranks second in Europe with regard to unoccupied offices – a quarter of the business premises in Sofia are vacant. Experts report great interest in renting them but the actual concluded deals are few. Nevertheless, more commercial and business buildings are being built in Sofia.It recently became known that Bulgaria ranks

Autumn – a Season of Rentals

Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES — Tue, 27 Sep 2011 00:00:00 GMT

Traditionally, the beginning of August sees a more dynamic rental market in the big cities and university centers in Bulgaria which is a result of the students looking for a home for the new academic year. This year is not an exception to the rule and since August we have been witnessing an increase in the demand for apartments for rent in the big cities by students, mainly in the city of Sofia. Apart from Bulgarian students there are also many foreign students (mainly Greek) as well as people who have landed a new job or who are looking for a better place to live. The requirements to the rental properties on the part of Bulgarian and foreign students differ mostly in terms of the price they are ready to pay. Bulgarian students prefer larger apartments which they can share with 2-3 other people, priced at 200-300 Euro/month for Sofia, 200-250 Euro/month for Varna and 100-150 Euro/month

Global housing market at its weakest since 2009

knightfrank.com — Mon, 26 Sep 2011 00:00:00 GMT

Worldwide mainstream house prices marginally avoided falling into negative territory with prices rising on average by 0.1% in the three months to June 2011 and by 1.7% over a 12-month period. This weak performance shows the extent to which many of the world's economies are struggling in the wake of the 2008-09 global crisis. Lending, for most developed economies, remains constrained, confidence is low and households' disposable incomes are waning. The overall fall in prices can also be partly attributed to the absence of double-digit annual price growth, which was observed in China, Singapore and India during much of 2009 and 2010. There are clear signs that Asian policy measures, aimed at cooling asset price growth are having some success. Annual price growth in Singapore stood at 6.7% in Q2 2011, down from 37% a year earlier. Similar patterns are emerging in India and China, which both

BULGARIAN PROPERTIES' Chief Operations Manager: The property market is influenced both by internal and external factors

Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES — Tue, 20 Sep 2011 00:00:00 GMT

Polina Stoykova – Chief Operations Manager of BULGARIAN PROPERTIES – comments on the real estate sector in Bulgaria in the morning show of BBT television on 16.09.2011. Here are some of the highlights:2011 is a year of stabilization in all sectors of the Bulgarian property market. It is also the year during which the market is expected to come out of the crisis, there were many positive expectations, but not all are coming to be. This is so because the coming out of the crisis depends not only on the pace of recovery of the Bulgarian economy and of the internal processes in the country. A research of BULGARIAN PROPERTIES shows that a great part of the influence on the Bulgarian property market comes from external factors and external demand, which was also the catalyst for the property boom in the sector in the last few years. This means that the external interest in buying

Apartments in Bulgaria’s Biggest Ski Resort – Bansko – 50% Cheaper Compared to 2008

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Mon, 12 Sep 2011 00:00:00 GMT

With the ending of the summer season the focus of property buyers is now turning to the ski resorts in Bulgaria. However, it is not only the upcoming winter season that increases the interest in Bulgaria’s winter resorts and in Bansko in particular but also the extremely attractive prices of properties there.BULGARIAN PROPERTIES’ index of listing prices of apartments in Bulgaria’s biggest ski resort – Bansko – shows that at present prices of apartments there are 50% lower compared to their peak values in 2008. According to the data which BULGARIAN PROPERTIES announced a month ago the situation in Bulgaria’s largest beach resort – Sunny Beach – is similar.With index value for Bansko of 100 in November 2008 in August 2011 it is already 51.31 which shows an almost 50% decrease in the listing prices compared to their highest value in 2008. The drop in Bansko property prices

BULGARIAN PROPERTIES' Chief Operations Manager: Real Estate Prices will Fall About 2% in 2011

TV Evropa, 6.09.2011 — Fri, 09 Sep 2011 00:00:00 GMT

Interview with Polina Stoykova – Chief Operations Manager of BULGARIAN PROPERTIES, shown on the news of TV Evropa on September 6th 2011.According to the data of the Bulgarian Registry Agency the number of property deals in the first half of 2011 has increased by some 50% compared to the same period in 2010. However, despite the increased demand experts say housing prices will continue to drop and the market remains unstable. The expected price drop in 2011 is 2% year-on-year.According to Polina Stoykova this is so because the market has gained momentum, it attracts local and foreign buyers – mainly Russians – and if there are any abrupt changes and fluctuations they would be felt next year.Experts explain the increased property demand with lower housing prices, decreased interest rates and the optimism for the country’s economic recovery. Analyzers claim that the downturn in the

Foreign Buyers Looking for Cheap Rural House Deals in Bulgaria

Monitor Daily, 06.09.11, excerpt — Thu, 08 Sep 2011 00:00:00 GMT

In the last few months we are witnessing an increased interest from foreigners in properties in villages in Bulgaria. The main reason for that are the lower prices of rural houses – they fell by almost 50% since the beginning of the credit crunch. However, renovated and well furnished houses with a nice view cost a lot more. Potential foreign buyers are also very interested in such houses but deals are not concluded often. At present English buyers are still selling the rural houses they bought some years ago but few of them give a realistic asking price and that is why almost no deals are concluded. The increased interest in Bulgarian rural properties is the result of the foreigners’ curiosity which on its part results from the low prices and the hope of finding something of good value for little money. Russian buyers also continue to be interested in such properties although their

Bulgarian Luxury Property Segment Is Turning Into a Preferred Investment Tool

Republica newspsper, vol. 321, 01.09.11, excerpt — Fri, 02 Sep 2011 00:00:00 GMT

According to real estate agents the mass withdrawal from investments in shares and the high inflation are turning the luxury property segment in Bulgaria into one of the preferred investment instruments. The most important criterion for the well-off is the prestige of the location. For Sofia these are houses and apartments in the Doktorska Gradina (Doctors’ Garden) area and in the quarters of Boyana and Dragalevtsi. After that come the space, the quality, the view, the professional design of the exterior and the interior, the parking space, the maintenance of the property, the neighbours, the environment and the infrastructure in the area.At present there is a wider choice of luxury properties and clients can make use of the situation. Buyers can negotiate a better price. If up to now the client was looking for a luxury apartment now they see that sometimes they can buy a house for the

Russians are the main buyers of beach properties

Veselina Foteva, Dnevnik newspaper, 25.08.11, с.II — Fri, 26 Aug 2011 00:00:00 GMT

About 95% of real estate deals on the Bulgarian Black Sea coast in the second quarter of the year are with Russians according to the data of the real estate agency BULGARIAN PROPERTIES. The company’s Chief Operations Manager Polina Stoykova said to Dnevnik newspaper that the Russian speaking buyers are the main players on the seaside holiday home market. Although the demand is high, they prefer apartments at lower prices - between 20,000 Euro and 40,000 Euro. Polina Stoykova explained that the buyers are looking mainly for apartments at prices between 25,000 Euro and 50,000 Euro, while the markets in Varna and Burgas fall behind in terms of dynamics to the market in Sofia. "Prices of properties in Varna remain high - often much higher than those in Sofia. Still there is a gap between the supply and the demand in terms of price expectations, but the trend is for them to converge

Small, "fast moving" buildings replacе large projects

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

New construction in Sofia continues to decrease and started buildings have less apartments, housing statistics reports quarter after quarter. Recently built brick mastodons are replaced by small buildings with one or two entrances and 10-15 apartments. The reasons are different – there are no buyers, entrepreneurs do not want to risk and at present banks do not tend to finance large projects. However, the direction is one - increasingly limited supply of new homes. And this after years of boom of Soviet-type blocks and brick buildings is quite normal. Indeed, it was confirmed by the register of building permits published on the website of Sofia Municipality' Architecture and Urban Planning department – large projects are disappearing from the market. From the beginning of the year until July no building with an area of over 10,000 sq.m., which has received a building permit. The

Great Time to Buy a Winter Bargain

Chris Please, Rightmove Overseas, www.rightmove.co.uk — Mon, 15 Aug 2011 00:00:00 GMT

Reports are coming in from estate agents that the prices of Bulgarian winter and ski properties are falling fast.With a downward sloping demand for these fully furnished properties, prices have fallen in each of the three main winter resorts, meaning that now is the ideal time to buy. The prices have fallen by a fifth over the last few months, however the properties are still failing to attract buyers.According to BULGARIAN PROPERTIES, a leading estate agency, the average price for one of these properties in the biggest resort of Bansko is €27,000 (Ј23,670). The rough price per square metre has fallen to Ј403 from Ј513 three months ago.Due to a lack of interest, many vendors are selling for up to a 60% loss, if they have to sell quickly, as this is the only price band that attracts demand and means they can secure a sale. Apartments in the Rila Mountains have also fallen,

Bulgaria Is Back Into Top Ten Most Popular Real Estate Markets for the British Buyers

Ivan Radford, TheMoveChannel.com — Fri, 12 Aug 2011 00:00:00 GMT

Bulgaria has broken back into the top ten most popular real estate markets, according to August’s Top of the Props report from TheMoveChannel.com. 3.3% of all enquiries in July were directed at Bulgarian property, marking the country’s return to the overseas property portal’s top ten for the first time in three years. The most popular countries remain the same, with Spain staying in the top spot for a second month running. Together with France, USA and Portugal, the traditional destinations account for over a third of all property searches from buyers interested in property abroad. Director Dan Johnson said: “As the Euro debt crisis continues, people are looking for bargain investments and holiday homes at low costs. Bulgaria’s real estate sales have been improving all year, with buyers attracted by exceptionally low prices for winter property, so it’s no surprise that

One in Ten Bulgarians Has a Villa

Monitor Daily, 08.08.11 — Mon, 08 Aug 2011 00:00:00 GMT

People living in the town of Pernik (near Sofia) have the biggest homes, data from the 2011 census show. On average, 1.4 people live one home in Pernik, while in the capital Sofia the average number of people sharing a property is 2. The average home in Bulgaria has an area of 79.7 sq.m., the data also show. People living in the cities have slightly larger homes than the people living in the villages, National Statistical Institute data reads. Even though it is the total built-up area that is taken into consideration, due to the development boom and demographic problems Bulgaria finally left the top of the EU overpopulation ranking and has positioned itself in the middle. According to statistics today an average of 1.9 people live in one home while 10 years ago that figure was 2.1. The density of population remains higher in the cities - it is 2.1, while in the villages one home houses

Prices of Sunny Beach Apartments 50% Lower Compared to Peak Values in 2008

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Wed, 03 Aug 2011 00:00:00 GMT

BULGARIAN PROPERTIES’ index of the listing prices of apartments in Bulgaria’s biggest seaside resort – Sunny Beach – shows that at present prices of holiday apartments there are 50% lower compared to their peak values in 2008. With index value of 100 in December 2008 in July 2011 it is already 51.29 which shows an almost 50% decrease in the listing prices compared to their highest value in 2008. The drop in apartment prices based on actually concluded deals is similar – 54%. In the last few months there is a trend of price stabilization and an increase in the number of deals with apartments in Sunny Beach which shows that the local market has reached a balance point in the present market and economic conditions. In the first seven months of 2011 apartments in Sunny Beach – shows that at present prices of holiday apartments were offered at an average price of 768 EUR/sq.m. or

Registry Agency: Number of Property Deals in Bulgaria Increase

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Fri, 29 Jul 2011 00:00:00 GMT

According to the recently published data of the Bulgarian Registry Agency for the sales of properties in 1Q and 2Q of 2011 for the first time since the beginning of the crisis the number of concluded property deals is increasing. BULGARIAN PROPERTIES announced similar data in our analysis of the last quarter as we interpret the increase in the number of sales as the first positive signal for the beginning of recovery of the real estate market. That is also what we expected and forecasted for 2011 – the number of sales to start increasing at relatively stable prices. According to the data of the Registry Agency the number of realized property deals has increased by 48% in the 2Q 2011 compared to a year earlier, as in the 1Q 2011 the annual increase in the number of deals was twice as less – 23% which means the last quarter was the most successful for the Bulgarian property market

NSI Data: Apartment Prices in Bulgaria Drop by 1.6% in 2Q 2011. Real Price Drop after Inflation Is 1.9%

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Fri, 29 Jul 2011 00:00:00 GMT

On 22.07.2011 the Bulgarian National Statistical Institute (NSI) announced its data for 2Q 2011 for the prices of apartments in the regional cities around the country. Statistics shows that the decrease in the prices continues but now it is still slowing down as in most cities it is about 5%. This is also what the data of BULGARIAN PROPERITIES show which we announced in the beginning of July in our 2Q 2011 market analysis.Average prices of apartments in Bulgaria have dropped nominally by 1.6% compared to the previous quarter and by 6.4% compared to the second quarter of 2010. The real decrease of prices of apartments after inflation is 1.9% compared to the previous quarter and 9.5% year-on-year (compared to the same quarter in 2010). For Sofia the nominal decrease in prices is 2.07% compared to the previous quarter and 5.94% year-on-year. After inflation prices of apartments in Sofia

Brits Are Selling Their Properties in Bulgaria at a Loss

Trud Daily, 27.07.11, excerpt — Fri, 29 Jul 2011 00:00:00 GMT

„Total loss!" This is how a real estate agent would react if you told them that 4-5 years ago you bought an off-plan seaside apartment for 1,300 EUR/sq.m. and now, after finishing and furnishing it you want to sell it for at least 700 EUR/sq.m.This is the reality for foreigners looking to sell their properties in Bulgaria now. In most cases they are UK citizens who came in great numbers to Bulgaria attracted by the mild climate, cheap life and beautiful nature. Now, a few years later, most of them were hit by the crisis and disappointed by the unrealized dreams of big profits from renting out their ski and seaside properties. “If the Brits bought their second home in Bulgaria during the property boom in 2006-2008 then at present they are selling at a big loss”, says Polina Stoykova, the Chief Operations Manager of BULGARIAN PROPERTIES. According to her at the moment the main

Russians Are the Main Buyers in Bulgarian Seaside Resorts

After Kapital Weekly, vol.29, 23.07.11, excerpt — Thu, 28 Jul 2011 00:00:00 GMT

Russian restaurants, bookshops, shops, Russian units in real estate agencies, Russian speech along the streets and on the beaches… In the last couple of years the Bulgarian Southern Black Sea coast is Russian territory where many of the signs and menus are written also in Russian.It can’t be any different as at present 90% of deals with holiday homes along the Bulgarian Black Sea coast are concluded with Russian buyers. For now the influx doesn’t seem to be sufficient to provide a market for everyone – developers, owners of land homes, Brits selling their properties in Bulgaria. It seems the challenge before the dozens of unfinished, finished and half empty complexes in the resorts is still pending. Taking into consideration the big supply and the still slow sales, optimism would be premature. However, there is a market and Bulgaria continues to be among the destinations most

Bansko Jazz Fest 2011

BULGARIAN PROPERTIES — Mon, 25 Jul 2011 00:00:00 GMT

The 14th edition of the ever popular International Jazz Festival in Bansko – Bansko Jazz Fest - will take place between August 8th and August 13th in the resort of Bansko, like every year since its founding in 1998. Bansko Jazz Fest is the biggest summer music festival in Bulgaria. Its great popularity among musicians and fans from all over the world has turned it into one of the most important cultural events on the Balkan Peninsula. For six days Bansko turns into the jazz capital. Thousands of people gather at the town’s central square where there is a special open-air stage. During the fest week jazz can be heard from various smaller stages set in big developments and restaurants around the resort. Apart from the main stage jazz musicians perform in some night clubs as well. Every night there are performances of musicians from different countries.Traditionally, the program of the

Overseas Property Portal: Higher Interest in Holiday Homes in Bulgaria

Duma Daily, vol. 166, 22.07.11 — Fri, 22 Jul 2011 00:00:00 GMT

Enquiries by users of British overseas property search portal TheMoveChannel.com wanting to buy holiday homes in Bulgaria has increased considerably in June, when Bulgaria jumped up 7 places in the portal’s ranking. Bulgaria now ranks 11th in the site’s Top 40 ranking, its share being a total of 2.61% of all enquiries. Although Bulgaria spent the better part of the market boom in the Top 5 of the international destinations, as a result of the crisis the country lost its high position. However, as of late the interest in the Bulgarian property market is returning, comments the portal’s manager Dan Johnson. This is largely due to the good value Bulgarian ski resorts offer and to the good snowfall in the last few years, he adds. The ranking includes 40 international real estate markets, as “old favorites” Spain, France and the USA are still the most popular.View all our holiday

Field Fever

Trud Daily, 20.07.11 — Thu, 21 Jul 2011 00:00:00 GMT

In some parts of Bulgaria the property market is not only more dynamic, but it is actually kicking into full gear. The data of the Registry Agency from the second quarter of the year confirm the fever for agricultural land. What is more – the boom from the first quarter of the year is about to turn into hysteria. An increase in deals on such a large scale is unique. The detailed overview of the different regions reveals the main reason for that – the high demand for agricultural land. The top 20 regions with the highest increase in deals are mainly areas where agriculture is the main means of living. In the capital Sofia, where the deals are mainly with residential properties and development land, the increase in deals is only 15%. Lately, agriculture is in its heyday due to good crops and guaranteed European subsidies. “In 2009-2010 there was a standstill on the land market.

Properties in Bulgaria Remain Attractive to Russian Buyers

Klassa Daily, vol. 1054, 14.07.11, extract — Fri, 15 Jul 2011 00:00:00 GMT

Bulgaria’s entering the Schengen zone will increase property prices in the country, say Russian analyzers. According to the Bulgarian embassy in the Russian Federation, which summarizes the data of the consulate office, the influx of Russian tourists to Bulgaria is expected to increase substantially in the summer of 2011. 50% more visa applications have been submitted in the first quarter of the year compared to the same period last year. Apparently, Bulgaria is an attractive destination for Russian tourists and this means positive perspectives for the property market as well. For most property buyers Bulgaria means cheaper properties. The biggest share of the property market in the country is occupied by this segment. High-spec residential properties are still relatively few. For Russians Bulgaria is a country that is close to their mindset and way of life. It has everything for a

Analysis of the Bulgarian Property Market 2Q 2011

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Thu, 07 Jul 2011 00:00:00 GMT

BULGARIAN PROPERTIES published their analysis of hte Bulgarian property market for the second quarter of 2011. Here are some of the accents of the analysis:In contrast to 2010, when property prices dropped by about 10%, 2011 witnesses an average decrease of 5% in prices of different property types. The good news in the last few months is the increase in the number of concluded deals which is the first long-awaited positive signal for the beginning of the recovery of the Bulgarian property market.In the first half of 2011 the most dynamic markets were those in the capital Sofia and along the Southern Black Sea coast. The market in Sofia is driven solely by Bulgarian buyers and the seaside market – almost entirely by Russian buyers. According to BULGARIAN PROPERTIES data sales in these two areas make up 40% of the total number of sales in the country, which makes them the trend-setters

We have a new layout of our property listings and you are welcome to see it!

BULGARIAN PROPERTIES Head Office, Sofia — Tue, 05 Jul 2011 00:00:00 GMT

BULGARIAN PROPERTIES are pleased to present the new layout of our property listings. We have aimed at designing much more intuitive and ever more informing property listings, allowing you to make an extensive virtual tour of the property of your choice.Browse through our hot offersorSearch properties according to your criteriaWe have added new features to the many we already offer, like a map that is easier to use, a field for subscription to our weekly newsletter through which one can follow the market trends around the country, as well as a new better way of presenting the photos of the property.The new layout allows the viewers to spot and access the information they need more easily, like the price of the property and the estate agent. Of course, we have kept all the features that make every offer unique, like the statistics of the offer, the property and area features and all those

The Bulgarian Property Market Is Still a Buyers’ Market

Polina Stoykova for Radio Dobrudzha — Tue, 21 Jun 2011 00:00:00 GMT

On 15th June 2011 BULGARIAN PROPERTIES’ Chief Operations Manager Polina Stoykova was interviewed by Radio Dobrudzha as she commented on the Bulgarian real estate market and the trends. Here are some of the main points of the interview:• The property market started to stabilize in the second half of 2010 and since then there hasn’t been great change in real estate prices, there haven’t been any big fluctuations both in prices and in demand. It can be said that we are in a period of stabilization of prices and the number of deals. • According to the official data and statistics in the last quarter there is a decrease in property prices of 2% around the country compared to the previous quarter, which in fact is an unnoticeable decrease. BULGARIAN PROPERTIES report a decrease in some holiday homes – mainly in the winter resorts, as properties in summer resorts retain their

Housing Price Determinants and the Price Cycle in Bulgaria - a Paper by the Chief Operations Manager of BULGARIAN PROPERTIES

BULGARIAN PROPERTIES — Fri, 10 Jun 2011 00:00:00 GMT

Polina Stoykova, Chief Operations Manager and Head of the Research Department of BULGARIAN PROPERTIES presented a paper at the Summer Conference of the International Academy of Business and Economics in Barcelona, Spain on 3rd June. This paper is published in the current issue of the Journal of International Business and Economics.The title of the paper is: 'Housing Price Determinants and the Price Cycle: Are the Fundamentals Valid, What is Specific and What Steers the Cycle?'Download a brief presentation of the article from hereThe main findings from the conducted research are the following:The fundamental long-term housing price determinants are also valid in Bulgaria.However, there are some cyclical deviations from the long-term trend which should be explained through the theory of the short-term property price determinants.In order to forecast the Bulgarian real estate market the

Chief Operations Manager of Bulgarian Properties Presenting an Article at an International Conference

BULGARIAN PROPERTIES — Mon, 30 May 2011 00:00:00 GMT

Polina Stoykova, Chief Operations Manager and Head of the Research Department of BULGARIAN PROPERTIES is presenting an article at the Summer Conference of the International Academy of Business and Economics, which is going to take place in Barcelona, Spain between 3rd and 5th June 2011. The theme of the article is the Bulgarian real estate market, the title being Housing Price Determinants and the Price Cycle: Are the Fundamentals Valid, What is Specific and What Steers the Cycle? This paper will also be published in the June issue of the Journal of International Business and Economics. The article, which is the first one focusing on the real estate market in Bulgaria, comes as a result of months of close observation of the Bulgarian property market, collection and interpretation of market data, all supported by BULGARIAN PROPERTIES and its Market Research Department. Here is an

Trends on the Bulgarian Luxury Property Rental Market

BULGARIAN PROPERTIES — Sun, 29 May 2011 00:00:00 GMT

LUXIMOTI – the subsidiary company of BULGARIAN PROPERTIES offering luxurious properties, made an overview of the rental market of luxury properties in Bulgaria. Demand The data from the offices of LUXIMOTI around the country shows that the high-end luxury properties are in demand mainly in the bigger cities in Bulgaria. The cities where elite residential properties are mainly in demand are the capital Sofia, Varna and Plovdiv, as in Varna 30% of the deals concluded by LUXIMOTI are with this type of properties. In Sofia the most sought after properties are in the southern residential quarters, including the quarter of Lozenets. What buyers look for are properties close to big boulevards offering fast and easy access to downtown Sofia. What is interesting is that there is least demand of luxury properties in the center of Sofia, one of the main reasons for that being the old buildings

Short Overview of the Bulgarian Rural Property Market

Trud Daily, 25.05.11 — Thu, 26 May 2011 00:00:00 GMT

A ready-to-live-in house with a spacious garden, in a village close to a big city or a resort, with easy access and good infrastructure, at a bargain price. Real estate agents say this type of the property is the only one that could be sold this year in Bulgaria. Buyers find it very important the area of the village to have a low crime rate (which usually means there shouldn’t be many Roma people in the village). If there is a renaissance of the rural property market at the moment it is related to houses that tick all the abovementioned boxes. The data of real estate agency BULGARIAN PROPERTIES show that in the first quarter of this year the sales of rural houses around the country are about 35% less compared to the previous quarter and 15% less compared to the first quarter of 2010.The main buyers of such properties are Bulgarians and Russians and the average prices of the sold houses

Bulgaria Improves Credit Rating

novinite.com, 25.05.2011 — Wed, 25 May 2011 00:00:00 GMT

International credit rating agency Fitch Ratings has improved its outlook on Bulgaria's currency ratings to positive from negative. This has made it less likely that they will fall into junk territory, reflecting the Bulgaria's declining debt levels and recovering economy, reported Tuesday Dow Jones Newswires as cited by The Wall Street Journal.The credit ratings company said an upgrade is possible if Bulgaria's banking sector shows clearer evidence of stabilization, and the budget deficit and external debt are reduced further. Negative action could be taken for reasons including weak domestic demand or impacts from problems at Greek banks.The WSJ points out that Bulgaria's GDP was up 2.5% in the first quarter of 2011 from a year earlier, driven by exports, though well below the 4.9% before its pre-crisis peak.Fitch expects GDP growth of 3% this year and 3.8% next year, compared with

Deals with Properties over 10,000 BGN to Be Paid Only Via Bank Transfer

Dnevnik Daily, 19.05.11, extract — Thu, 19 May 2011 00:00:00 GMT

Starting July 1st 2011 every property deal over 10,000 BGN will be paid via bank transfer. The Bulgarian parliament voted on this change to the Notaries and Notary Activities Act yesterday. The ban on cash payments will also be valid for the cases of established real rights and servitudes as long as their price exceeds the stated threshold. However, when buying a car it can be paid for in cash, even if it is very expensive. When buying a house, apartment and land the money will be transferred to a bank account which the parties under the agreement have chosen. The law also allows for the amount to be transferred to a special account of the notary public. Such an account exists at the moment but as it was not separated from the notary public’s general account and it didn't have a special status there was risk for the money and almost no one chose this option. Bank transferring the money

Promotion of Property Insurance for Natural Persons

BULGARIAN PROPERTIES — Mon, 09 May 2011 00:00:00 GMT

BULGARIAN PROPERTIES and its partner - the leading insurance company Allianz Bulgaria offer a special insurance promotion for physical persons. The period of the offer is from 02.05.2011 until 16.07.2011. The promotion includes a discount of up to 45% of the standard company tariff for the Dwellings and Household insurance.In addition to the promotion of the Dwellings and Household product clients will also receive a 30% discount under the Burglary insurance.The subject-matter of the Dwellings and Household is movable and immovable property owned by or under the responsibility of physical persons. Read more about the promotion---Copyright: 2011 Bulgarian Properties Ltd. All rights reserved. For further information or advice please contact us on tel.: +359 2 9 11 50 or e-mail: info@bulgarianproperties.com. The use of this article by third parties is allowed only with proper quotations of

NSI data: Nominal Prices of Apartments in Bulgaria Fall by 2.34% 1Q 2011. Real Price Drop after Inflation Is 3.93%

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Wed, 27 Apr 2011 00:00:00 GMT

On 21.04.2011 the Bulgarian National Statistical Institute (NSI) announced its data for 1Q 2011 for the prices of apartments in the regional cities around the country. Statistics shows that the decrease in the prices continues but now it has slowed down significantly. Average prices of apartments in Bulgaria have dropped nominally by 2.34% compared to the previous quarter and by 5.62% compared to the first quarter of 2010. The real decrease of prices of apartments after inflation is 3.93% compared to the previous quarter and 9.68% year-on-year (compared to the same quarter in 2010). For Sofia the nominal decrease in prices is 4.42% compared to the previous quarter and 3.95% year-on-year. After inflation prices of apartments in Sofia decreased by 5.97% compared to the previous quarter and by 8.09% compared to the same period last year.The data for apartment prices in the big cities around

BULGARIAN PROPERTIES Publish Their Real Estate Market Analysis 1Q 2011

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Thu, 14 Apr 2011 00:00:00 GMT

The stabilization on the Bulgarian property market which started in the middle of 2010 continued in the first quarter of 2011. The increase in sales is still small – only 3% compared to 1Q of 2010, but the first positive signal comes from the market in Sofia, where according to the data of BULGARIAN PROPERTIES property sales doubled compared to the same period last year.Highlights:• Increase in the overall number of sales by 3% compared to 1Q 2010• Retention of property prices in the capital Sofia, similar to those from the second half of 2010• Decrease in average prices in Bansko by 10% and even more in the other ski resorts in Bulgaria and lack of interest in properties in the ski resorts• Retention of property prices along the southern Bulgarian Black Sea coast and an increase in the number of concluded deals compared to the same period last year, the main buyers being

Promotion of Property Insurance for Companies

BULGARIAN PROPERTIES — Mon, 11 Apr 2011 00:00:00 GMT

For the period April 1st 2011 - May 15th 2011 BULGARIAN PROPERTIES offer a special insurance promotion for companies. Together with its partner - the leading insurance company Allianz Bulgaria - BULGARIAN PROPERTIES offer to their clients-legal persons a 40% discount from the current tariff of the Fire-companies insurance product. Additionally, if the client wishes to add the Burglary insurance to the Fire-companies insurance they will also receive а 45% discount under the Burglary insurance. The subject-matter insured is immovable and movable property of legal persons.Read more about the insurance promotion---Copyright: 2011 Bulgarian Properties Ltd. All rights reserved. For further information or advice please contact us on tel.: +359 2 9 11 50 or e-mail: info@bulgarianproperties.com. The use of this article by third parties is allowed only with proper quotations of the

Strong Summer Season for Bulgarian Tourism

BULGARIAN PROPERTIES — Mon, 11 Apr 2011 00:00:00 GMT

This year tourism experts in Bulgaria advise everyone planning to spend their summer vacation in Bulgaria to book it well in advance – which is valid both for Bulgaria’s beach resorts and for the spa and wellness resorts inland. According to specialists there are very few vacancies left on first line on the beach and most hotel owners sold out all early bookings whose prices are lower by 15-20%. Part of the owners who have already sold out most of their accommodations are offering the unbooked rooms at slightly higher prices. Experts in the sector forecast that as a whole this summer there will be more tourists, an increase in interest in new charter flights and more such flights from Russia and Western Europe. Bulgarian Deputy Minister of Tourism Ivo Marinov commented that the expected increase of tourists coming to Bulgaria this summer will come Germany, Russia and the Scandinavian

BULGARIAN PROPERTIES Awarded Best Property Insurance Advisor 2010

BULGARIAN PROPERTIES — Thu, 07 Apr 2011 00:00:00 GMT

This year BULGARIAN PROPERTIES once again received the award Best Property Insurance Advisor 2010 at the annual competition of one of the biggest insurance companies in Bulgaria - Allianz. BULGARIAN PROPERTIES offer their clients a wide choice of insurance products combined with a high level of servicing. With BULGARIAN PROPERTIES you can insure your immovable or movable property. The immovable property includes not only residential buildings but also commercial buildings, other special function buildings and also the fencings of the building, the outside grounds, the swimming pools, etc. The movable property includes the furniture, all kind of electronic devices and appliances. Some of our newer products include motor vehicle insurance, life insurance and accident insurance.BULGARIAN PROPERTIES Insurance department is one of the company’s first departments as apart from taking out

Demographic Trends and the Property Market in Bulgaria

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Wed, 06 Apr 2011 00:00:00 GMT

On April 5th 2011 the Bulgarian National Statistical Institute (NSI) announced the express data of the national census which took place in February 2011. The demographic factors, including the growth in population, the internal migration, the age of the population, etc. are considered fundamental factors in defining the trends on the real estate markets and property price fluctuations in the long run. This data is a good basis for analyzing the Bulgarian property market so that it can be seen what influence they have on the real estate sector in the country. Recently BULGARIAN PROPERTIES published its overview of the Bulgarian property market for the decade 2000-2010 and now the census data will help us see the interrelations between the demographic trends and the Bulgarian real estate market. The NSI express data show that 73% of the population in Bulgaria lives in cities and 27% - in

Increase in the Number of Granted Mortgage Loans in 2011*

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Fri, 01 Apr 2011 00:00:00 GMT

According to data of the Bulgarian National Bank (BNB) the number of granted mortgage loans increased by 16.5% in the first two months of 2011 compared to the same period in 2010. The increase in the number of granted mortgage loans is accompanied by a drop in the average interest rates of the loans in January and February 2011. They are between 0.5 and 1 percent lower compared to the period January and February 2010. Since the second half of 2010 the average interest rates for mortgage loans in BGN and EUR are between 7.8% and 8.5%, as the interest rates for loans in EUR are lower than those in BGN. According to BNB’s latest data for February the average interest rate for mortgage loans in BGN is 8.32% and in EUR the percent is 8.13, while these figures were 9.31% and 8.49% respectively a year earlier (pic.1)After an increase of 11% in the credit activity in January compared to the

Luxury and Cheaper Properties Driving the Market in Capital Sofia

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Thu, 31 Mar 2011 00:00:00 GMT

The bigger dynamics in the highest and lowest price segments drive the residential property market in Sofia – what buyers look for are apartments of up to 60,000 EUR and luxury properties for over 150,000 EUR. This is what Polina Stoykova – the Chief Operations Manager of BULGARIAN PROPERTIES – comments in a property market analysis. After the increase in sales in January in Sofia the number of deals in February and March is similar to that in 2010. The price per sq.m. at which deals are concluded vary between 580 and 950 EUR as the average price of the deals concluded in Sofia since the beginning of 2011 is 900 EUR/sq.m. To compare, according to BULGARIAN PROPERTIES the average prices in the last quarter of 2010 were 930 EUR/sq.m. and in the third quarter of 2010 - 840 EUR/sq.m. This means there is no change in the average prices of residential properties in Sofia, and the number

Property Market Will Enter Maturity Phase in Next Decade

BULGARIAN PROPERTIES — Wed, 30 Mar 2011 00:00:00 GMT

In connection to the publishing of the Analysis of the Bulgarian Real Estate Market for the Decade 2000-2010, Stroitelstvo Imoti weekly interviews BULGARIAN PROEPRTIES’ Chief Operations Manager Polina Stoykova: - Ms Stoykova, how would you characterize the residential property market in the last decade – as unpredictable, dynamic or as something else?- If we go back to the beginning of the decade and try to forecast the property market for the next ten years it will surely turn out that the market was unpredictable. Even in the bravest of forecasts I think no one expected Bulgaria to witness such a property boom and then such a big price drop. This is partly due to the lack of history on this market in Bulgaria and no possibility for comparison to past cycles; on the other hand the dynamics was defined by many positive factors for Bulgaria like the very low property prices at the

More and More Land Owners Selling Their Property

Pari Daily, vol.60, 29.03.11 — Tue, 29 Mar 2011 00:00:00 GMT

More and more owners of regulated plots of land and arable land are putting their properties up for sale, property agents say. There are a few reasons for that – they do not cultivate the land and they have loans to repay. However, since the beginning of the credit crunch it is exactly farmland whose prices fell most – by up to 40-50%. The lucrative price is one of the reasons for the high demand. It is expected that the price of land in Bulgaria will increase considerably. This means that the investment is expected to be very good.And the prices are...According to data of BULGARIAN PROPERTIES in Northwestern and Southeastern Bulgaria prices per 1,000 sq.m. based on actual concluded deals is from 200 BGN (approximately 102 EUR) to 350 BGN (approximately 180 EUR). “You must bear in mind that these are the cheapest regions in Bulgaria in terms of land prices”, says BULGARIAN

BULGARIAN PROPERTIES Make Unique Overview of the Bulgarian Real Estate Market for the Decade 2000-2010

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Thu, 17 Mar 2011 00:00:00 GMT

BULGARIAN PROPERTIES drew up a unique analysis of the Bulgarian real estate market for the period 2000-2010. With the end of the first decade of the new century, during which we witnessed the beginning of a modern real estate market in Bulgaria, we from BULGARIAN PROPERTIES decided to turn back and make an overview and to strike a balance of the existing data of the properties in Bulgaria in the last ten years. We witnessed a very dynamic ten years for the Bulgarian property sector which brought about drastic increase in prices and in the number of deals, as well as more dynamism to the building sector followed by a plummeting in the last two years.We used the data of the National Statistical Institute (NSI) as a basis for our research, it being the most comprehensive existing statistics of property prices. This information is relative only to residential properties – apartments in

Mihail Chobanov, BULGARIAN PROPERTIES Managing Director: Prices of Mid-Class Properties Will Fall, Luxury Properties Will Become Stable

Klassa Daily, vol. 965, 08.03.11 — Wed, 09 Mar 2011 00:00:00 GMT

- Mr. Chobanov, according to a research Bulgaria is third in the world in terms of residential property price drop in 2010. Why do the forecasts of part of the analyzers in Bulgaria differ from the final data? - If you look chronologically you will see that we never said prices will stop falling and our forecasts of about a 10% price drop were true. The actual data we have based on concluded deals last year shows that there is a price drop of between 8.3 and 13% in the different segments and types of properties, which makes just under 10% drop on average for the year. In this line of thought our data differs from that placing Bulgaria in the third place and I think this international report has a slightly more long-term view on things. Taking into consideration that in 2009 there was a 40% price drop and now it is only 10% things add up. - Will there be a recovery in 2011 or will the

EU Buys Building in the Center of Sofia

www.investor.bg, 08.03.2011, excerpt — Tue, 08 Mar 2011 00:00:00 GMT

The European institutions will move to a new building in the center of Sofia after the European Parliament’s Budget Committee allowed the signing of the deal before a notary public. This is what an announcement of the press office of MEP Ivaylo Kalfin reads. The new premises are located at 124 Georgi Rakovski Str., not far from Slaveykov Square, in a new seven-storey business center. The deal is expected to be concluded by the end of March, as the agreed price is 9 million euro.For this price the European institutions will get a property with an area of some 2,523 sq.m., with offices, conference rooms and an underground parking lot. This means that the EU bodies will get a building whose square meter costs 3,567 euro. The building will also have offices for the MEPs and EU Commissioners visiting the country. If the deal is successful this will be the first building of such proportions

200 Mln BGN to Be Invested in Extending Bansko and Razlog Ski Slopes

investor.bg, 26.02.2011 — Mon, 28 Feb 2011 00:00:00 GMT

There will be debates regarding the development of the Pirin National Park as a year-round tourist destination. This is what the Deputy Mayor of the town of Razlog Ivan Gyurov said. Investors forecast that the existing ski pistes and paths in the area of Dobrinishte, Bansko and Kulinoto will be extended by about 200 km, their total length reaching 333 km. New plans for the management of the National Parks of Pirin, Vitosha and Central Balkan are yet to be devised, as the old plans are to expire soon, the Minister of Environment Nona Karadzhova reminded during a press conference in the town of Razlog. The plan for Pirin National Park in particular is expected to be ready by mid 2011, as serious research is needed to be made. All citizens and non-government organizations will be able to make proposals and take part in the public debates, the Minister pointed out. Minister Karadzhova added

Bulgaria Properties 13th Most Attractive to British Buyers

www.novinite.com — Thu, 24 Feb 2011 00:00:00 GMT

Bulgaria has made it to thirteenth place in a new ranking of property markets, which remain popular for foreign mortgages among Britons.The Bulgarian market has attracted 1.3% of the searches for properties abroad at the site of Rightmove Overseas in January, as their number increased by 40.5% over December.Britons continue to be attracted most by the idea of taking out a foreign mortgage for a property in Spain, the ranking shows.Australia, New Zealand and Canada have recorded the highest increases in the searches for properties on the site, up by a whopping 114%, 91% and 80%."We're still seeing healthy traffic and interest in quality properties, particularly in more authentic areas, smaller towns, inland locations and less resort style apartments," Robin Wilson, head of overseas at Rightmove, said.Owning a second home abroad was once the preserve of the super-wealthy, but in

GVA: The European Property Market Is Recovering

Dnevnik Daily, 23.02.11, p.III — Thu, 24 Feb 2011 00:00:00 GMT

The real estate market in Europe is recovering from the crisis, as the fastest recovering sector is that of residential properties, compared to the office and industrial property sectors. This is what a survey by GVAWorldwide shows.The trend is also typical for Bulgaria, as the office segment is the only one on the border between standstill and recovery. Most property markets around the world passed their lowest point and at present are on the rise.Residential property deals are increasing The residential market shows the fastest recovery compared to that of offices and industrial properties. In London, Milan and Sofia the residential property market started its recovery with an increase in the number of deals and it is gradually gaining momentum. In Vienna and Zurich, where there is fast market growth, demand exceeds supply. Obviously, sellers and investors have managed to find a common

Bulgarians Work at Least 10 Years for a Home without a Loan

24 Chasa Daily, vol.50, 21.02.11, excerpt — Wed, 23 Feb 2011 00:00:00 GMT

Have you ever considered how much time you would have to save in order to buy a home without a bank loan? At least 10-11 years with the present salaries and home prices in Bulgaria. For example, an apartment of 70 sq.m. in Sofia can be paid with 132 monthly salaries or for 11 years. In 2005 one needed 175 monthly salaries or 14.5 years to buy the same apartment, the analysis of BULGARIAN PROPERTIES shows. In 2000 the purchase of the same property would cost about 107 monthly salaries or about 9 years. The lowest purchasing power was recorded in 2008 during the peak of property prices. Then one needed 233 monthly salaries or about 19.5 years of labor to buy an apartment in Sofia, which is almost twice the time needed at the moment. In the last decade the apartments in Sofia were most affordable in 2001 – one could buy 0.67 sq.m. with a monthly salary and were least affordable in 2008,

Bulgarian Law Restricts Cash Payments to 15,000 BGN

BULGARIAN PROPERTIES — Tue, 22 Feb 2011 00:00:00 GMT

The Law on restricting cash payments was promulgated on February 22, 2011 and it will officially come into force on February 25, 2011.According to the new law the maximum amount which can be paid in cash is 15,000 BGN (about 7,700 EUR). If the sum is equal to or higher than 15,000 BGN, or it is a payment under 15,000 BGN but it is part of an agreement for a sum above 15,000 BGN, it will have to be paid with a bank transfer or in a bank account. The law will also be in force for payments under deals and agreements concluded before the law’s entering into force but which have not been finished at the time of the enforcement. In view of the sale and purchase of properties this law limits the possibility of cash payments or cash deposits or the payment for properties whose price is equal to or above 15,000 BGN. Payments of such sums must be made only via a bank transfer. One of the main

BULGARIAN PROPERTIES Nominated for Best Property Agents Fourth Year in a Row

BULGARIAN PROPERTIES — Wed, 09 Feb 2011 00:00:00 GMT

BULGARIAN PROPERTIES have been nominated for Best Property Agents by Bellevue - Europe’s leading property magazine for a fourth year in a row. Applications are carefully reviewed by a panel of judges and only after careful deliberation and review are the Best Property Agents chosen.Best Property Agents are chosen in recognition of their outstanding achievements as real estate companies and their goal is to promote consistently high quality standards. Their distinguishing features include professionalism, expertise, experience, choice/variety of properties and above all, quality of service.Both property buyers and sellers need a real-estate agent who can represent both their interests fairly and offer sound advice and that is exactly what Best Property Agents stand for.---Copyright: 2011 Bulgarian Properties Ltd. All rights reserved. For further information or advice please contact us

The property market in Sofia is more dynamic. Increase in the number of apartment deals in Sofia in Jan. 2011

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Fri, 04 Feb 2011 00:00:00 GMT

The first month of 2011 was very dynamic and successful in term of deals with apartments in the capital Sofia. On the background of the number of sales around the country equaling those in January 2010, the number of deals in Sofia increased twofold compared to the same month in 2010. If we compare the data of the sales in Sofia in January with previous years according to our company there has never been such a strong January for apartment deals in the capital. Usually the number of sales decreases in the first couple of months of the year, but this didn’t happen in 2011. There is also a considerable increase in the number of deals on a monthly basis compared to December 2010 and so January 2011 is one of the strongest months on the property market in Sofia in the last two and a half years. This is a very good sign for the real estate market in Bulgaria in general as the trends in

The Rental Market in Sofia and Varna in 2010

BULGARIAN PROPERTIES — Tue, 01 Feb 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 –

Buyers and Sellers of Businesses in Bulgaria Still Can’t Agee on the Price

24 Chasa Daily, 31.01.2011 — Mon, 31 Jan 2011 00:00:00 GMT

Nikola Stoyanov – the Managing Partner and Co-founder of real estate agency BULGARIAN PROPERTIES – gave an interview to leading daily newspaper 24 Chasa. Nikola Stoyanov is also the Managing Director of the newest addition to the group – the company for business consulting, mergers and acquisitions BusinessForSale.BG, which was set up in 2009.In the last few months there has been an increase in the number of enquiries from potential buyers. However, the interests of the two parties still cannot meet. That is why there has been no increase in the number of deals with businesses in Bulgaria. Deals are concluded only with sensibly prices businesses with potential for development. The exceptions are those businesses which can prove that investing in them will bring the buyer at least 10-15% annual return on investment. I hope that in 2011 the long-awaited sobering down of sellers and

Bulgaria First in EU in Reducing Its Government Debt to GDP Ratio

BULGARIAN PROPERTIES — Mon, 31 Jan 2011 00:00:00 GMT

Bulgaria is first among the 27 member states in reducing its government debt to GDP ratio for the ten years between 1999 and 2009. From 77.6% of the GDP in 1999 Bulgaria’s government debt plunged to 14.7% of the GDP in 2009, which is a reduction of 62.9%, or of over 81%. In 2010 the European Union expect Bulgaria’s government debt to be 18.2% of the GDP, which puts the country in second place together with Luxemburg after Estonia (which has 8% government debt to GDP ratio). Bulgaria managed to reduce its government debt to GDP ratio three times more compared to the second state in the ranking – Sweden, whose government debt-GDP ratio dropped by 22.5 percent to 41.9% in 2009.

Agricultural Land in Bulgaria among the Cheapest in Europe

investor.bg, 28.01.2011 — Fri, 28 Jan 2011 00:00:00 GMT

According to a ranking of consultancy company Savills based on Eurostat data and various other sources for the period 2007-2009 prices of agricultural land in Bulgaria rank third among the lowest in the EU. The prices are lower only in Lithuania and Slovakia. According to the information the prices in Bulgaria at the end of 2008 – the most current data about the market in the country used by the company, were about 1,700 euro per hectare on average (170 Euro per decare). To compare, in Ireland, which has the highest land prices in the ranking, agricultural land prices in 2008 were over 40,000 euro per hectare.Statistics from 2000 on shows that prices in Romania, which in the last few years has been ranking right after Bulgaria, were lower than in Bulgaria until 2006. However, since 2006 prices of agricultural land in Romania have been increasing fast and in 2009 they reached 3,500 Euro

Sofia Creating a Global Stir as Cultural Capital

BULGARIAN PROPERTIES — Wed, 26 Jan 2011 00:00:00 GMT

The film with which Sofia is applying for European Capital of Culture 2019 has caused a real stir.The film created a stir around the world as only in the first 5 days it was watched by more than 60,000 viewers from all continents. The film is also uploaded on many social sites for sharing, among which are Vietnamese and Azerbaijani ones.The comments from the different countries are more than encouraging supporting Sofia’s ambition to become a European Capital of Culture. At present the popularity of the film considerably exceeds some of the most watched films of the global documentary channels, in whose genre it was shot.In the next few months Sofia - the History of Europe is expected to be watched by over 100,000 people.Watch the film Sofia – The History of Europe:Get the Flash Player to see this player. var FO =

Annual Analysis of BULGARIAN PROPERTIES of the Bulgarian Real Estate Market 2010/2011

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Mon, 24 Jan 2011 00:00:00 GMT

According to the analysis of BULGARIAN PROPERTIES the end of 2010 was also the end of the first decade of the existence of a real property sector in Bulgaria. It was a dynamic decade during which we witnessed a property boom followed by a significant fall in prices and number of deals. The good news is that 2010 brought stabilization to the sector and the Bulgarian real estate market is entering a phase of stabilization and maturity in the new decade. The main trends for the past year and our expectations for this year can be described as follows:• 2010 – stabilization of the prices and an increase in the number of realized deals.• 2011 – continuing stabilization of prices, more convincing increase in the number of deals and a small increase in property prices in the last quarter of the year.According to BULGARIAN PROPERTIES data based on actual concluded deals in 2010 the

Welcome to Our New Office in Stara Zagora

BULGARIAN PROPERTIES — Mon, 17 Jan 2011 00:00:00 GMT

The team of the BULGARIAN PROPERTIES Stara Zagora Office would like to welcome you to their new office at Ramini Business Center87 Hadzhi Dimitar Asenov Str.Stara Zagora 6000, BulgariaMobile: + 359 889 887 880E-mail: Please send your enquiryt.mihalevaStara Zagora Office on the mapIf you need advice, if you are interested in buying a property in Stara Zagora and the surrounding area, if you want to sell a property or rent or let out a property we will be more than happy to assist you. Our office is open every weekday from 9.30 a.m. to 6.30 p.m., as if you want to meet outside the working hours you must arrange a meeting in advance.The area of Stara Zagora has always been very attractive property destination both to Bulgarian and foreign buyers. The amazing nature, the extremely good location and the business possibilities make the region of Stara Zagora a wonderful place to live and enjoy

The Key Word for 2010 Is Stabilization

BULGARIAN PROPERTIES — Mon, 17 Jan 2011 00:00:00 GMT

The Chief Operations Manager of BULGARIAN PROPERTIES Polina Stoykova was a guest in the morning show of BBT TV on January 10th 2011. The topic of the interview was the trends on the Bulgarian real estate market in 2010 and 2011.According to Polina Stoykova the key word in the real estate sphere in Bulgaria for 2010 is stabilization. The property price drop continued during the first half of 2010 and in the second part of the year it was minimal – between 3 and 5%. According to Ms Stoykova the key number for 2010 is 10% - there was a 10% average decrease in property prices around the country and the number of deals the company concluded increased by 10%, while in 2009 the average price decrease was 40%. According to Polina Stoykova this indicates stabilization and that the crisis is coming to an end. On the question whether there is speculation on the property market at the moment Ms

Buyers from Belgium, South Africa and China Looking for Holiday Homes in Bulgaria

Klassa Daily, vol. 924, 06.01.11, excerpt — Thu, 06 Jan 2011 00:00:00 GMT

Buyers from Belgium, the Netherlands, South Africa, China, Ukraine, France, etc. are interested in holiday homes in Bulgaria, Mihail Chobanov – Managing Director of BULGARIAN PROPERTIES told Klassa Daily. He explained that there is still interest in Bulgarian holiday properties from Lithuanians and Estonians as he underscored that the main buyers are Russians and British, who like Bulgaria more and more and are considering moving here. Mihail Chobanov commented that there is increased interest from many countries in the holiday home sector and that the range of buyers is wide. Nevertheless, he noted that holiday home sellers are still selling according to their needs. There are properties equal in value which are sold at 400 EUR/sq.m., 800 EUR/sq.m. and even at 1,600 EUR/sq.m. The best prices of this type of properties come from resale holiday homes which were bought at lower prices

Company Re-registration Deadline Extended by the Parliament

BULGARIAN PROPERTIES, Head Office — Tue, 21 Dec 2010 00:00:00 GMT

The deadline for re-registration of Bulgarian companies founded before 1.01.2008 in the online Trade Register was extended yesterday by the Bulgarian Parliament. The new term is now 31.12.2011. The previous term was going to expire at the end of this year but it appeared impossible that all companies be registered by then. So, now all owners of Bulgarian companies who haven't managed to re-register them will have one more year to do so. The Law on the Trade Register applicable to the activities of all Bulgarian companies, which came into force on 1.01.2008, stated that all existing companies must be registered in the new online register by 31.12.2010. This term has now been extended with 1 year. The companies that are not registered by 31.12.2011 will be removed from the register of companies in Bulgaria.Read more information here---Copyright: 2010 Bulgarian Properties Ltd. All rights

BULGARIAN PROPERTIES Gave Its Traditional Annual In-house Awards

BULGARIAN PROPERTIES Head Office — Tue, 21 Dec 2010 00:00:00 GMT

BULGARIAN PROPERTIES gave its traditional annual in-house awards for achievements during the year. The ceremony took place during the company’s Christmas party on December 19th in Sofia. Here are part of the awarded offices in the different categories:• For a 3rd year in a row the award for “Highest Number of Property Sales” went to Residential and Commercial Office Sofia and its Regional Director Svetli Drumev.• The “Most Expensive Apartment Sale 2010” was again awarded to Residential and Commercial Office Sofia for a sale of a luxury apartment in the Bulgarian capital city. • “Most Expensive House Sale 2010” was won by Dinko Slavov – our Burgas Office Regional Manager. • Stela Stoycheva from Rentals Office Sofia managed to beat the very strong competition in Varna and won the prize “Highest Number of Rentals 2010”.• The award for “Highest Sales Increase

The Bulgarian Property Market 2010/2011 – Trends and Perspectives

Polina Stoykova, Chief Operations Manager, BULGARIAN PROPERTIES — Wed, 08 Dec 2010 00:00:00 GMT

BULGARIAN PROPERTIES published its 2010 analysis of the Bulgarian real estate market, as well as its forecasts for what will happen in the next year and a half. Some of the main trends on the property market in Bulgaria in 2010 are:• Increase in the total number of property deals compared to 2009 by about 10% - after big fluctuations on the market and plummeting of the number of deals on a monthly basis the final result will be an increase in the number of deals around the country in 2010. This signal can be seen as the first positive sign of recovery but one should also take into consideration the fact that the increase in the number of deals is recorded on an annual basis on the background of slow first months in 2009. The recovery will first start with an increase in the number of deals and only after that with an increase in prices. • Increase in the market dynamics in the

Bulgarian Ski Resort of Bansko Best Low-Cost Spot to Be This Winter

BULGARIAN PROPERTIES — Mon, 22 Nov 2010 00:00:00 GMT

Two of the leading British newspapers – The Independent and The Mirror - published articles this weekend reading what would be the cheapest way for a winter holiday this year. Bansko inevitably tops the charts being the cheapest in the Post Office's survey of 10 European and North American resorts. According to The Independent “a week's lift passes, equipment hire and instruction for a family of four at Bansko came to Ј974 and living expenses were cheap too: Ј28 for a family meal, drinks and a cup of coffee”. The overall price of a ski holiday in Bansko adds up to only “Ј1,002 (all prices for six days)”.The Mirror journalist Victoria Wards writes about Bansko from her own experience having spent a ski holiday there. She says: “I have to confess I was a little unsure about skiing in Bulgaria. If it was that good, why did my skiing and snowboarding obsessed pals always go

Bourgas – The Best Bulgarian City to Live in for 2010

BULGARIAN PROPERTIES — Thu, 18 Nov 2010 00:00:00 GMT

Bourgas 27 towns and cities took part in the research as they were assessed by 25 criteria. Bourgas received maximum points in the fields of investments in infrastructural projects, working hours of shops, kindergartens, culture, unemployment rate, foreign investments, etc.Veliko Tarnovo was announced the most beautiful town, Smolyan – the greenest town and Sofia was ranked the best city to do business in. Varna and Blagoevgrad also won special certificates for Best Bulgarian City to Live in for 2010 but after the results from the internet vote. In 2009 the capital Sofia was announced The Best Bulgarian City to Live in as before that it was the Black Sea city of Varna which won the title two years in a row. View all our offers in Bourgas and the area---Copyright: 2010 Bulgarian Properties Ltd. All rights reserved. For further information or advice please contact us on tel.: +359 2 9 11

2010 is a Zero Year for the Bulgarian Property Market

stroitelstvoimoti.com, 8.11.2010 — Tue, 16 Nov 2010 00:00:00 GMT

The Chief Operations Manager of BULGARIAN PROPERTIES Polina Stoykova commented the property market in Bulgaria before Srtoitelstvo Imoti weekly:- Ms Stoykova, what do you think property prices will be in a couple of years from now?- We definitely can’t expect the drastic price drop of 2009 to be made up for by 2012. In order for the 2008 levels to be reached again prices must increase manifold. Realistically speaking, in 2011 the number of deals is expected to increase. I believe that this year is a zero year on the market because for now there are no additional price drops and there is no increase in the number of deals. Still, there are some positive indications and there is a possibility the number of deals to increase by about 5-10%. What I expect in two years is the crisis to be over, the economy to go up and prices to start increasing gradually. - Is this forecast valid for

Property Prices in Bulgaria Reach Balance Point

stroitelstvoimoti.com, 8.11.2010 — Thu, 11 Nov 2010 00:00:00 GMT

The worst on the property market in Bulgaria is now over. Although there are no convincing signals for the beginning of a recovery yet there is room for optimism. After two years of crisis property prices found their balance point. Prices of real estate are at their lowest point. The exception is the industrial land and rural houses where demand is limited and prices are still dropping. These were some of the main conclusions real estate experts came to during a discussion forum held in Sofia at the beginning of November. The last two difficult years have had a big positive effect in the market, experts agree. The reason for that is that all the mistakes the players in the sector made became obvious. The most important thing builders, investors and architects learned from the crisis is that whatever they do from now on must be of high quality. According to the experts the residential

The Property Market Is Stable, but There Are No Clear Recovery Signs

Imam Imot Magazine, November 2010, excerpt — Wed, 10 Nov 2010 00:00:00 GMT

In its November 2010 issue the magazine Imam Imot published an article with the 3Q real estate analysis of BULGARIAN PROPERTIES drawn up by the company's Chief Operations Manager Polina Stoykova.Two months before the end of 2010 we can summarize that this year is turning out to be а zero point 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 data of real estate agency BULGARIAN PROPERTIES show for the period July-September 2010.Of course, this year is very important for the market – the reaching of a balance and stability is an important moment, especially after the years of property boom followed by a significant decrease of property prices in 2009. From this point of view 2010 was like a breath of fresh air for the players on the

BULGARIAN PROPERTIES Managers Discuss the Bulgarian Holiday Home Market on National Television

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

BULGARIAN PROPERTIES’ Managers Polina Stoykova and Victor Vucheliyski commented the holiday home market in Bulgaria on national TV channel PRO.BG on 2nd November 2010. According to experts the data for the winter tourist season in Bulgaria are optimistic but according to the report the data for the holiday home market is contradictory. Happy tourists are the greatest advertisement for Bulgaria. The holiday home market will become more dynamic when people who come to Bulgaria will want to own a second home here. The good infrastructure is very important and at the moment the construction of main highways is a priority to the government. According to the report at present the trends on the holiday home market in Bulgaria are not very optimistic. The traditional buyers retrieved from the market and big investors put their projects on hold. In some cases a second home in Bulgaria can even

BULGARIAN PROPERTIES Took Part in Construction and Real Estate Forum

BULGARIAN PROPERTIES — Wed, 03 Nov 2010 00:00:00 GMT

BULGARIAN PROPERTIES’ Chief Operations Manager Polina Stoykova moderated a discussion forum on the topic of the current problems in the field of construction and properties, organized by Pari Daily together with the Bulgarian Construction Chamber. The forum took place in the Arena di Serdika Hotel in Sofia on November 2nd 2010. The following topics were considered during the discussion: • Has the unfreezing of office and trade center projects begun?• Property prices – where to after 2 years of crisis? • The challenges before the builders for absorbing EU funds and financing.Some of the participants in the discussion included Sofia’s Chief Architect Petar Dikov, the Chair of the Bulgarian Construction Chamber Svetoslav Glossov and representatives of the biggest real estate agencies in the country.According to the Chair of the Bulgarian Construction Chamber there is a slight

Bulgaria - a Must-See 2011 Destination

BULGARIAN PROPERTIES — Tue, 02 Nov 2010 00:00:00 GMT

Bulgaria is one of the top 10 must-visit destinations in 2011 which travel and tourist guide site Lonely Planet has chosen based on scores for topicality, excitement, value for money and that special X-factor. Bulgaria is ranked 5th as it is preceded by Albania, Brazil, Cape Verde and Panama and it is followed by Vanuatu, Italy, Tanzania, Syria and Japan. For those who looked, Bulgaria has always had its moments – in its biggest cities, on its snow-capped peaks and great-value ski fields, on its golden-sand beaches and in ancient Black Sea port towns, Lonely Planet writes. Yet, over the years, Bulgaria has got lost amid its more famous neighbours. Now proudly part of the 21st-century EU, Bulgaria has enjoyed more attention – and self confidence. Its ski slopes are de facto destinations for Europeans looking for cheaper alternatives, empty patches of lovely Black Sea beaches can still

Low-cost Carrier Ryanair Starts Flying to Bulgaria's Plovdiv Tomorrow

BULGARIAN PROPERTIES — Mon, 01 Nov 2010 00:00:00 GMT

One of the biggest low-cost airlines Ryanair opens a new twice-weekly service from London Stansted to Bulgaria’s second largest city of Plovdiv which is to commence tomorrow, 2nd November 2010. It is believed that regular air flights from London to Bulgaria’s Plovdiv will boost the development of the potential of Southern Bulgaria as an all-year-round holiday destination.Representatives of the aviation company expect that Ryanair will service 30 000 passengers from Bulgaria this year. The airline’s ambition is to increase the number to 200 000 until 2013. In the future Ryanair is planning increase the number of flights to Plovdiv, and will also consider opening routes from Bulgaria to Spain and Italy, where there are large numbers of Bulgarian immigrants.Plovdiv Airport was renovated in 2009 at a cost of BGN 45 million. One-way Ryanair fares for Plovdiv will start from GBP 32.99