Статии

Transforming Real Estate: The Impact of Technology on Buying, Selling, and Renting Properties

BULGARIAN PROPERTIES — Tue, 13 Jun 2023 00:00:00 GMT

The real estate industry has always been known for its traditional practices and reliance on face-to-face interactions. However, the advent of technology has ushered in a new era, revolutionizing the way people buy, sell, and rent properties. Innovations such as virtual reality, smart home systems, and online platforms have had a profound impact on the real estate market, transforming the industry in ways unimaginable just a few years ago.One of the most significant advancements in the real estate sector is the integration of virtual reality (VR) technology. VR allows potential buyers to take virtual tours of properties from the comfort of their homes. With VR headsets and 360-degree video tours, buyers can explore every nook and cranny of a property, getting a realistic sense of its layout, size, and ambiance. This technology eliminates the need for physical visits to multiple

The Villages Around the Resorts in Bulgaria Attract with Cheap Properties

https://www.novinite.com — Mon, 11 Jun 2018 00:00:00 GMT

It is natural for the villages near the big resorts to attract the interest of the buyers with their low prices. This is what the Executive Director of Bulgarian Property Agency Polina Stoykova said."There are many constructions around Sunny Beach to Kosharitsa, Tankovo, where closed complexes of houses or small complexes with blocks have been built, and over the years they have attracted little interest because the prices are very good - they can be around 300-350 euro per square meter. In Bansko, around the golf, there are offer prices for nearly 200-250 euros per square meter, and in Borovets is similar - about 350 euros per square meter. Sometimes the prices in the satellite settlements, which are 10-15 km away from the main attraction of the resort, can to be lower by 40-50%, "she said.This year's trends are to boost the interest in the sea properties and this is expected

Bulgarian holiday properties draw increased interest from neighbours

seenews.com — Wed, 12 Jul 2017 00:00:00 GMT

SOFIA (Bulgaria), July 11 (SeeNews) - Bulgarian holiday properties have recorded increased interest from buyers from neighbouring countries such as Romania, Macedonia, Serbia and Greece since 2016, according to Polina Stoykova, CEO of Sofia-based real estate agency Bulgarian Properties.There is also increased interest from buyers from Ukraine, Moldova and the Czech Republic, Stoykova said in a statement last week. The segment of holiday properties in Bulgaria has overcome the crisis prompted by the outflow of Russian and British buyers several years ago, she added.The range of buyers' nationalities is constantly expanding, Stoykova noted. She also said Bulgarian nationals account for half of holiday property buyers at the country's largest seaside and ski resorts.In the first half of 2017, the volume of sales and the prices of holiday properties at the seaside and mountain resorts in

A Place in the Sun Magazine: Bulgaria Bounces Back

A Place in the Sun Magazine, Summer 2016 — Wed, 11 May 2016 00:00:00 GMT

Whether your seek a mountain, beach or country home, Bulgaria offers affordability that is hard to beat and market stability returned, says Richard WayRanked by Post Office Travel Money as the cheapest place to ski and second cheapest place to enjoy a holiday in 2016, Bulgaria remains just as good value when it comes to property, whether you're looking for a home on the coast or inland."A full member of the EU, Bulgaria has the lowest property prices in Europe," said Andy Turver, an expat. "Neighbouring countries all have a higher cost of properly ownership, including both Greece and Turkey. Prices fell sharply with the financial crisis, bottomed out in 2014 and now remain low."These days, reaching Bulgaria is cheap and easy too, thanks to an increasing choice of low-cost flights. Only this May, Ryanair launches a daily service between Stansted and Sofia,

Bulgaria's First Science and Technology Park fficially inaugurated

www.bta.bg, 11 December 2015 — Tue, 15 Dec 2015 00:00:00 GMT

President Rosen Plevneliev Friday inaugurated Sofia Tech Park, Bulgaria's first science and technology park (Technology+Innovation Network, TIN).He cut the ribbon together with Slovak President Andrej Kiska, Prime Minister Boyko Borissov, Bavarian Minister President Horst Seehofer, European Regional Policy Commissioner Corina Cretu, Economy Minister Bozhidar Loukarski and Sofia Tech Park Executive Director Elitsa Panayotova.The formal opening took place in the Innovation Forum building, which was named by Plevneliev and Borissov after John Atanasoff, the father of the computer, who is of Bulgarian origin. Plevneliev said: "Sofia Tech Park is not just a hi-tech park, the first in Bulgaria and the Balkans, but a cause for a Bulgaria of the future." He thanked the Prime Minister, the Deputy Prime Minister for EU funds and economic policy and the Economy Minister for supporting the

Bulgarians filling the property market gap left by foreigners

www.focus-fen.net, 2 February 2015 — Tue, 03 Feb 2015 00:00:00 GMT

2014 has been the best year for the local real estate market since the start of the crisis, according to consultancy company Bulgarian Properties. They saw a rising number of sales last year and hope the uptrend would continue into 2015. Besides, in 2014, home prices bounced back for the first time since 2008, underpinned by better mortgage terms. Experts from Bulgarian Properties say the local market will be dominated by Bulgarians buying into segments previously considered commonplace for foreigners. Purchases in 2015 will be concentrated in big cities, seaside and ski resorts. The consultancy company outlined another interesting trend – a rising number of buyers are entering the market with the sole intention to invest in real estates.

One standard for all: A global norm for measuring property

Mon, 02 Feb 2015 00:00:00 GMT

The International Property Measurement Standards Coalition (IPMSC) has selected leading professionals from around the world to develop a global standard for measuring property. After continuous work and global public consultation, the first international property measurement standard was announced on IPMS website at ipmsc.orgTherefore we have asked Polina Stoykova, Managing Director and Head of Research of BULGARIAN PROPERTIES to give an independent expert opinion about this global initiative.The International Property Measurement Standards (IPMS) focus on definitions, so that they standardize what the terms mean and how they should be used in order to mean the same thing around the world. They define general principles of measurement and calculation and they are divided in 3 parts: IPMS 1, 2 and 3 each of them measuring the office buildings in a different way for different purposes.

Sofia Dwelling Prices Rose by 3% in 2014

www.novinite.com, January 29, 2015 — Fri, 30 Jan 2015 00:00:00 GMT

Real estate prices in Bulgaria's capital Sofia saw a nominal annual increase of 2.9% in 2014, a real estate consultant has said.This is well below an average nominal increase of 0.5% registered across the country.The latest Bulgarian Properties information, based on data from the national statistics body NSI, suggests that last year the real increase in property prices in the capital and in Bulgaria on average was 4.5% and 2.1%, respectively.Annual property proces have thus gone up for the first time since the crisis began in Europe and worldwide."This is fully in line with our forecasts and expectations throughout the whole of 2014 about the end of the downward trend and the beginning of a new stage of the market development," the real estate firm notes.Compared to other big cities the capital's property market is recovering at a higher speed, with prices there accelerating in

Bulgaria, the only Eastern European country in which the British still want to buy property

BULGARIAN PROPERTIES — Mon, 03 Feb 2014 00:00:00 GMT

Surprisingly Bulgaria is the only Eastern European country present in a representative survey of the most preferred places by the British for buying real estate properties. According to a new study of the real estate company Rightmove, cited by the Bulgarian National Radio, Britons who plan to buy property abroad are more likely to head towards Spain, and not traditionally towards France, despite the financial crisis problems in Spain.Data shows that 51% of those investors planning to buy abroad intend to remain British citizens, where one-third of them plan to emigrate for the sake of a better life and 13% of them just wish to invest in real estate. The key factors for buying abroad are the nicer weather conditions, the life with less stress, less expenses and a better place to start a family. Although Spain is the country which the British will most likely choose for buying a home or

The Bulgarian property market came out of the crisis

Stroitelstvo Imoti, November 11, 2013 — Wed, 13 Nov 2013 00:00:00 GMT

The market bottom has been reached, property prices have stopped falling, according to the analysis for the third quarter of 2013 from BULGARIAN PROPERTIES. The property prices respond quickly to economic trends and show precisely and in plain language in what direction the economy is developing, whether the economy is overheating during an upward cycle, or during a crisis - how serious it is and when the economy will start to recover, the analysis announced. According to the company, the real estate market is showing signs of a started recovery (increase in sales volumes, price stabilization, rise in the volume of mortgage loans, etc.). The trends which are confirmed during 2013 are the market bottom has been reached, property prices have stopped falling, the property market is now balanced and stabilized, deals have increased and the process of a slowly but steady recovery has started,

Bulgarian property prices see first quarterly growth since crisis

www.themovechannel.com, August 12, 2013 — Wed, 14 Aug 2013 00:00:00 GMT

Bulgarian property prices recorded their first quarterly growth since the start of the financial crisis, according to new figures. Research by Bulgarian Properties, based on data from the National Statistics Institute, shows apartment values rose 0.74pc in Q2 2013 compared to Q1. The figures are adjusted for inflation, presenting a more accurate representation of the actual change in values. Indeed, this “real growth” in prices is the first time that a quarterly increase has been recorded since the beginning of the financial crash in 2008.“We can see that the property market in Bulgaria has reached a state in which nominal prices remain unchanged, and after inflation deduction, they seem to have started to register small positive changes,” comments Polina Stoykova, Head of Research for Bulgarian Properties.If these first hints of growth continue, they could mark the start of a

Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES: Property deals increased by 3.3%

Stroitelstvo Imoti, vol. 28, July 22, 2013 — Fri, 26 Jul 2013 00:00:00 GMT

Property sales in Bulgaria increased by 3.3% in the second quarter of 2013, compared to an year earlier, according to the Bulgarian Registry Agency data. A total of 55,716 property sales were concluded in 2Q 2013, as 30,391 were in the regional cities (55%). The rise in sales in the regional cities is 5.26% on an annual basis. On the background of an overall slowdown in the sales increase in the second quarter of 2013, the three largest cities in Bulgaria reported double-digit increase, while in Sofia the rate of sales growth has even accelerated compared to the first quarter, when it was 8.5%. In the capital Sofia the sales increased by 11% year-on-year. This once again confirms that the capital is one of the most popular cities to buy property in uncertain times. In the past 3 months in Sofia a total of 5,087 deals were concluded, while last year for the same period there were 4,585

Property prices in Sofia rose by 4.5% year-on-year

Reporter Daily, July 23, 2013 — Fri, 26 Jul 2013 00:00:00 GMT

The property prices in Sofia have increased by 4.5% in the second quarter of 2013, compared to the same period of 2012, according to BULGARIAN PROPERTIES analysis.The average price of sold apartments is 747 Euro per sq.m. in the second quarter of 2013 compared to 715 EUR/sq.m. in 2Q of 2012. Compared to the previous quarter, when the average price of sold apartments was 719 EUR/sq.m., the change is similar (+3.9%).Over the past few years the buyers had two major requirements when choosing a property - the best price and the exact parameters of the property. Compromises were made with the parameters but not with the price. Recently there is an opposite trend - buyers would rather compromise with the price and pay a little more per square meter but buy the property which fully meets their requirements, experts said.Rural house sales have maintained stable levels for a consecutive quarter.

Home prices in Plovdiv are stablе

Presa Daily, June 18, 2013 — Tue, 18 Jun 2013 00:00:00 GMT

The housing market in Plovdiv has almost crossed the first half of 2013, meandering up and down without any drastic changes in prices, according to the data provided by real estate agencies.Apartments in brick blocks are sold at prices 460-590 Euro per square meter. Exception is the central part of the Old Town, where selling prices reach 630-650 Euros per square meter. Apartments in prefabricated blocks in Plovdiv are sold in more narrow range between 400 and 500 Euro per square meter. According to the national statistics, the average price of apartments in the city is 919.67 Bulgarian lev per square meter. This is the lowest level since February 2006, when it was 895.50 lev per square meter. The second city in Bulgaria has never been the second in terms of property prices. Ahead of it always were the coast pearls Varna and Burgas. So it was 20 years ago, at the beginning of 1993, when

A lovely Bulgarian home for just Ј6,000

The Telegrath, 04 January 2013 — Fri, 04 Jan 2013 00:00:00 GMT

When property prices in Britain spiralled out of control, David K Chadwick decided to relocate to Bulgaria. The reason I came to Bulgaria was that one day in 2008, I was watching a TV programme that dealt with the problems people had getting on the mortgage ladder because of the high prices of houses in Britain. Towards the conclusion of the programme, it was suggested that people might try looking in the north-east of England or else try Bulgaria. lt showed a few clips of those places: it was obvious which was the better of the two, so I started doing some research in the library. I noted things like climate and geography and then decided to go there and see for myself what there was to offer. I chose a travel agent that did cheap flights and booked a return flight for one week to Obzor, near Burgas, on the Black Sea coast. My fare included hotel accommodation, and I told the tour

Bulgarian Property Sales

www.questbg.com — Mon, 19 Nov 2012 00:00:00 GMT

The current Bulgarian property sales market has begun to recover slowly by the continued vast interest from Russian purchasers to buy their own holiday home in the sun. And, Bulgaria with its enormous property choice and great price offers is an ideal destination for them. Bulgarian property sales linked with Black sea apartments in Bulgaria have increased by 30 per cent this year, based on recent figures from Bulgarian Properties. The increase in interest has provided a positive outlook for the country's property market and shown a slight recovery in specific areas of the market. The forecast for this year expected the coast to continue to attract foreign buyers, and so far this year it has beat previous expectancy. The main investors are Russians and Bulgarians taking advantage of the attractive low prices to have a coastal apartment.The amount of apartments sold in the third quarter

BULGARIAN PROPERTIES' Chief Operations Manager for Bulgaria on Air: The decline in property prices continues fading

Bulgaria on Air — Tue, 21 Aug 2012 00:00:00 GMT

Polina Stoykova, Chief Operations Manager of real estate agency BULGARIAN PROPERTIES, gave an interview for Bulgaria on Air channel, in which she comments the company’s analysis of the Bulgarian property market for the second quarter of 2012.According to Polina Stoykova, the decline in property prices continues fading. Browsing real estate portals, including the website of BULGARIAN PROPERTIES, we can find offers we have never seen. We came back to 2004-2005, when the supply was at these levels. In Sofia you can find apartments at a price of 15,000 Euro. There is a variety of offers from 20,000 Euro to 30,000 Euro for small-sized apartments in panel buildings in the suburbs districts.Sofia and Varna are still on the top position of the most expensive properties in Bulgaria and the average prices in these cities starting from 730 Euro per sq.m. The average prices in Burgas are lower,

Bulgarian property has a lot to offer for every taste and budget

Rightmove Overseas — Mon, 28 May 2012 00:00:00 GMT

If you ask most people to picture crystal blue seas and white sandy beaches or Christmas card perfect snowscapes, it probably won’t be Bulgaria that springs to mind. But perhaps it should be.Bulgaria is a hugely diverse country, ranging from the snow-topped mountains in Bansko and the Pirin Mountains in the West, to the East and its bustling beach holiday resorts in Sunny Beach. But the middle remains largely untouched, and it’s here that you’ll find the traditional stone buildings, the beautiful monasteries and the slower paced lifestyle that so many Brits crave. Team this diversity with some of the cheapest per square metre prices in Europe, and an extremely cheap cost of living (a pint of lager can cost as little as 40p) and Bulgaria is quickly becoming one of Europe’s more popular holiday and second home destinations.Previously, complicated legislation made buying in Bulgaria

Choosing a property via Skype

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

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

Property Prices in Bulgaria Expected to Stabilize in 2012

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

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

Bulgarian property market 'starting to pick up'

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

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

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

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

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

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

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

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

Bulgarian property values 'down significantly'

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

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

Country homes in Bulgaria value for money

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

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

Bulgaria, four years after the economic crisis hit

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

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

Big Bargains in Bulgaria for Holiday Home Hunters

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

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

Bigger interest in holiday homes in Bansko

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

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

The real estate markets in Greece, Romania and Bulgaria

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

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

Rural houses more attractive for property buyers

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

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

Construction Categories in Bulgaria

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

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

Global Housing Market Stagnates in 2011

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

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

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

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

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

Investing in property in Bulgaria

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

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

Prices of holiday properties in Bulgaria continue to drop

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

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

EU steps in to prevent housing bubbles

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

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

Bulgaria Among the World’s 8 Most Distressed Property Markets

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

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

Prices of land in ski resorts: Romania vs Bulgaria

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

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

Rising private consumption to boost retail space demand

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

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

UK citizens lead EU settlers in Bulgaria

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

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

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

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

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

Prices of city apartments in Bulgaria in 3Q 2011

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

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

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

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

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

Return of the property investors

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

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

Bansko Apartments 50% Cheaper

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

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

Bargain ski property in Bulgaria as prices fall by 50%

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

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

Prices slashed on Bulgarian property bargains

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

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

Bulgaria's ski homes 50 per cent cheaper than 2008

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

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

Small, "fast moving" buildings replacе large projects

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

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

Luxury Properties in Bulgaria Still in Demand

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

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

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

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

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

How a property offer becomes a concluded deal

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

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

Factors That Devalue A Good Home

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

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

Overview of the Bulgarian Real Estate Market for 2000-2010

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

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

Apartment Rental Market in Sofia and Varna in 2010

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

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

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

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

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

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

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

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

Analysis of the Businesses Market in Bulgaria

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

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

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

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

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

The Concept of Luxury Property is Flexible

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

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

Sofia Residential Properties with Slight Price Increase in 3Q 2010

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

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

10 Common First-Time Homebuyer Mistakes

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

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

2010 – Restart Year for the Bulgarian Property Market

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

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

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

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

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

Property Prices Hit Bottom

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

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

Bulgarian Property Prices Falling

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

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

The Property Market Is Similar to That in 2009

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

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

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

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

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

The Dynamic Agricultural Land Market in Bulgaria

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

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

Categories of Agricultural Land in Bulgaria

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

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

Hotel headache

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

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

The Money Is in Properties Abroad

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

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

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

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

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

Low Risk Investment Proposals

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

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

After-Sales Services and the Crisis

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

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

No Interest in Investing in Hotels

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

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

We Are Ready for the Recovery Challenges

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

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

The Activity on the Market Is Increasing

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

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

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

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

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

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

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

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

The Interest in Bulgarian Rural Properties Increases

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

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

Property Buyers Becoming More Active

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

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

Decrease in Garage Demand, Unsold Parking Spaces in New Buildings

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

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

The British Are Willing to Reduce Asking Prices

Fri, 23 Apr 2010 00:00:00 GMT

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

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

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

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

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

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

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

Property Prices Fell by 20% in 14 Months

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

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

Supply and Demand Define Property Prices

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

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

Property Insurance Prices in Bulgaria

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

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

Assess the Situation before Buying a Shop

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

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

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

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

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

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

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

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

To Rent or to Buy

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

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

Offer Prices of Bulgarian Properties Falling

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

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

Now is the time to invest in a property in Bulgaria

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

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

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

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

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

Huge Rise in Sales in the Winter Destination of Bansko

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

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

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

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

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

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

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

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

Did Prices of Ski Resort Properties Reach Their Best Levels

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

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