Bulgaria property investment - news from Bulgaria, property market ...
A month ago London-registered low-cost carrier Wizz Air, the first no-frills carrier to enter the Bulgarian market, announced the launch of new flights from Sofia to Dortmund.97. Although most Bulgarians prefer to have a
house near their city, they are increasingly focusing their interest on property at distance more than 20km out of town. And, 158 million euro are going to be spent for improvements of water transport, Neli Yordanova, director of Coordination of Programmes and Projects Directorate at the Ministry of Transport. Another 580 million euro will go for railroad infrastructure. Another low-cost carrier to fly Sofia-LondonPropertyWise: 2007-08-09EasyJet, which is considered to be the second-biggest low fare airline company after Ryanair, will start regular flights from Sofia to London. At present the lowest rate available in the UK is 7per cent. Black Sea property buyers demand matching quality for high pricesPropertyWise: 2007-08-21Eastern part apartments, which are closest to the shore, cost up to 2600 euros per sq m.Holiday apartments have been a gold mine for property developers in Bulgaria. British no-frills airline EasyJet announced on Wednesday it will add seven new routes to its network this autumn, including Bulgaria. Bulgaria to spend 2 billion on infrastructure by 2013PropertyWise: 2007-08-07Close to 100 million euro of the subsidy on Transport programme will be spent on road construction and reconstruction. BULGARIANS INCREASINGLY BUY VILLAS FAR FROM HOMESofiaEcho: 2007-08-06The market in
village property, until recently driven by interest among Irish and UK investors, is gaining popularity among Bulgarians. Buyers are starting to look at
houses 40 km northeast of Sofia, focusing mainly on the
villages of Kostinbrod, Slivnitsa and Novi Iskar. Buyers have begun to demand higher quality construction and uniqueness in return for their
money, especially the Russians, who seem to have the greatest affinity for luxury and lushness. By 2013, as much will be invested in Bulgaria�s transport infrastructure, announced Prime Minister Sergey Stanishev and Transport Minister Petar
Mutafchiev during their inspection on the the construction of a railway connecting Plovdiv and Svilengrad yesterday. Close to 100 million euro of the subsidy on Transport programme will be spent on road construction and reconstruction. Eastern part apartments, which are closest to the shore, cost up to 2600 euros per sq m. EasyJet, which is considered to be the second-biggest low fare airline company after Ryanair, will start regular flights from Sofia to London. Englishmen, on the other hand, are keener to see the investment to pay off.100. Fraport�s airports serviced more than 8 188 200 passengers in July 2007, registering an increase of six per cent as compared to the July 2006 rates. German-Bulgarian consortium Fraport BM Star won the concession of Bulgaria�s coastal airports in 2006. Golf Club Ibar is a joint company set up by Dolna Banya municipality and Lazarov Nedev construction company.92. However, Piraeus Bank London have recognised that demand for second homes and investment properties in Bulgaria remains high. In the western part of Slanchev Bryag (Sunny Beach) alone, 25 000 apartments have been sold up to now at an approximate price of 1000 euros per sq m. Inflations in the second quarter was 2 per cent, which means that in real terms property prices grew by an average 3.4 per cent. Instead of investing their money in holiday property at the seaside or in mountain resorts, many Bulgarians prefer to buy houses in villages so that they can use them as villas at weekends, Kapital weekly reported. Irini Tzortzoglou, head of Retail Banking, comments, �Piraeus Bank was the first to offer mortgages on Bulgarian property to UK and Irish residents in late 2004 and since the introduction of our euro mortgages we have seen a dramatic rise in interest. Nearly 355 015 passengers used the airport during the period. One billion euro will be invested in road construction and reconstruction over the next six years. Others are even ready to live in a village and commute to work. Prices for residential real estate in Bulgaria's 28 biggest cities and towns grew by an average 5.4 per cent in the second quarter of the year, down from 9.3 per cent in the previous three month, National Statistics Institute (NSI) data showed. Prices of off-plan units in the suburban area can reach 1200 euro a sq m.Prices of off-plan apartments in Mladost and Liulin have registered a significant increase, as well. Prices stand at 33.99 euro for a one-way ticket and 75.77 for a round-trip ticket, airport fees included. Property prices in Bulgarian cities grow by 5.4 per cent on average from April to June 2007PropertyWise: 2007-07-26The average price paid for residential properties in the areas covered by the NSI survey was 1041.1 leva, compared to 988. Property prices in certain villages near Sofia, including Pancharevo and Kokalyane, have already become too high. Simeonovo and Dragalevtsi, formerly outlying villages, have become part of Sofia. The average price paid for residential properties in the areas covered by the NSI survey was 1041.1 leva, compared to 988. The cargo activity at the airports of Bourgas, Varna Frankfurt, Frankfurt-Hahn, Antalya and Lima, together increased by 1.6 percent to 208 949 metric tons. The cheapest 75-sq m off-plan apartment is offered for 39 800 euro, or 531 euro a sq m. The consortium will manage Bourgas and Varna airports for 35 years and will invest 403 million euro in them.98. The course alone is worth 17.5 million leva. The course is a new concept from Nicklaus Design. The first flight will be conducted on November 6. The main factor influencing purchases is the nearness of a property to a big town. The number of apartment developments, most often called �complexes� at the Black Sea coast has increased by 82 per cent. The number of flights every 24 hours is at least 120 and the number of passengers exceeds 18 000.93. The number of passengers was by 11.2 per cent bigger than in July 2006, Focus news agency reported. The port city of Varna continues to benefit from the seaside real estate boom and has the highest prices -- 1 710 leva a sq m, per, a 3.9 per cent increase for the period. The route will be serviced three times weekly on Tuesdays, Thursdays and Saturdays from Sofia airport to London Gatwick. The same trend has been seen in the regions of Veliko Turnovo and Rousse. This was the first project of its kind in the world, the investors said. Two-bedroom apartments in Bukstone residential district registered the highest price increase - 86 per cent. Varna airport, Fraport�s second airport in Bulgaria, registered a decrease of 0.3 per cent in the number of passengers from July 2006 to July 2007. Year-on-year, residential prices grew by 27 per cent in absolute terms, or 21.4 per cent in real terms.
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